ŠKODA AUTO achieves €821 million operating profit in first half of 2018

ŠKODA AUTO achieves €821 million operating profit in first half of 2018

› Sales revenue increased 5.1% to 9.161 billion euros by the end of June

› Return on sales reaches 9.0%

› Record deliveries: 652,700 vehicles; up 11.6%

› SUV model campaign: ŠKODA KODIAQ and ŠKODA KAROQ as growth drivers

Mladá Boleslav, 2 August 2018 – ŠKODA AUTO remains on the course for success in the

first half of 2018. The carmaker increased sales revenue by 5.1% to € 9.161 billion, for the

first time surpassing the €9 billion mark in the first six months of the year. Operating profit

of 821 million euros remains at a high level. Deliveries to customers increased by 11.6%

from January to June this year to a new record of 652,700 vehicles.

Bernhard Maier, ŠKODA AUTO CEO: “The results of the first half of the year demonstrate that we

are on the right path with Strategy 2025. The current product range has been very well received by

our customers. Our model campaign continues in the second half of the year with the launch of the

new FABIA and KODIAQ RS. Converting our vehicles to the new WLTP cycle remains a

challenge.”

ŠKODA AUTO’s sales revenue increased by 5.1% to 9.161 billion euros between January and June

2018 (first half of 2017: 8.720 billion euros). In the same period, operating profit fell by 4.5% to

821 million euros (first half of 2017: 860 million euros). Return on sales reached 9.0% compared to

9.9% in the first six months of 2017. Net cash flow totalled 980 million euros (first half of 2017:

1,152 million euros).

"ŠKODA AUTO continues to show stable profitability and yield security in the first half of the year.

Important factors influencing this are our active mix management within the framework of the

positive sales volume development and our consistent cost management," says SKODA AUTO

Board Member for Finance and IT Klaus-Dieter Schürmann, adding: "Stricter emission and CO2

regulations place growing demands on the entire automotive industry. The necessary expenditures

for future technologies and new products, as well as negative exchange-rate effects and rising

personnel costs due to the new wage agreement, which came into force in April, are increasingly

reflected in the result."

ŠKODA AUTO continues to pursue its ambitious Strategy 2025. By the end of 2020, the Czech

automobile manufacturer will have introduced 19 new vehicle models and made considerable

investments in pioneering technologies such as electromobility and digital services. Added to this is

the brand’s expansion into emerging markets such as India, where ŠKODA now holds responsibility

for the Volkswagen Group’s market and model campaign.

ŠKODA AUTO Group – Key figures for the first half of 2018/2017*

Units 2018 2017 Change in %

Deliveries to customers No. of cars 652,700 585,000 11.6

Deliveries to customers excluding

China

No. of cars 487,200 451,000 8.0

Production** No. of cars 486,200 464,900 4.6

Sales*** No. of cars 510,700 500,500 2.0

Sales revenue Million EUR 9,161 8,720 5.1

Operating profit Million EUR 821 860 -4.5

Return on Sales Percent 9.0 9.9 -

Net cash flow Million EUR 980 1,159 -15.4

* Percentage deviations are calculated from non-rounded figures

** Comprises the production of the ŠKODA brand, excluding production in China, Slovakia, Russia and India,

but including other Group brands such as SEAT, Audi and VW; vehicle production excluding part/complete kits

*** Comprises sales of the ŠKODA brand to sales companies and includes other Group brands, such as SEAT,

Audi and VW; vehicle sales excluding part/complete kits

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Group profile


In existence since 1805, and across family generations, D’Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The group has currently three activities articulated around strong brands:

  • D'Ieteren Auto distributes Volkswagen, Audi, SEAT, ŠKODA, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of around 21% and 1.2 million vehicles on the road at the end of 2017. Sales and adjusted operating result reached respectively EUR 3.3 billion and EUR 85.9 million in FY 2017.

 

  • Belron (54.85% owned) makes a difference by solving people’s problems with real care. It is the worldwide leader in vehicle glass repair and replacement, trading under more than 10 major brands including Carglass®, Safelite® AutoGlass and Autoglass®. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Sales and adjusted operating result reached respectively EUR 3.5 billion and EUR 189.8 million in FY 2017.

     

  • Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across more than 115 countries. Sales and operating result reached respectively EUR 155 million and EUR 25 million in FY 2017.

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