ŠKODA AUTO increases sales revenue and operating profit in first nine months of 2019

ŠKODA AUTO increases sales revenue and operating profit in first nine months of 2019

› By the end of September, sales revenue had increased by 17.6% compared to the same period last

year to 14.8 billion euros. This includes the new consolidation of the Indian business

› Operating profit is 8.5% above the previous year’s level at 1.175 billion euros

› 913,700 vehicles delivered in the first nine months; -2.7% due to the continuing decline of the

Chinese car market

› Excluding the Chinese market, ŠKODA’s global deliveries rose to 719,300 vehicles (+4.4%)

Mladá Boleslav, 4 November 2019 – ŠKODA AUTO continues along the road to success. From January to September, the carmaker increased sales revenue by 17.6% to 14.8 billion euros, setting a best value in the company’s history. Operating profit also remains at a very high level, rising by 8.5% to 1.175 billion euros in the same period, which is slightly below the best result in the brand’s history (first three quarters of 2017: 1.206 billion euros).

ŠKODA delivered 913,700 vehicles in the first nine months of 2019. Compared to the same period last year, deliveries declined by 2.7%, primarily due to the current development of the Chinese car market as a whole. In the other markets, ŠKODA AUTO increased its total deliveries by 4.4% year-on-year to 719,300 vehicles (January to September 2018: 688,900). The KODIAQ and KAROQ were in particularly high demand.

ŠKODA AUTO’s sales revenue increased to 14.8 billion euros in the same period. This value is 17.6% higher than in the first three quarters of last year (January to September 2018: 12.6 billion euros) and sets a new record in the car manufacturer’s 124-year history.

Vehicle sales rose 15.3% to 804,900 units. On the one hand, the increase in sales and sales revenue was a result of the ŠKODA brand’s strong sales performance in a largely declining market environment, and on the other hand due to the Indian business of other Group brands being newly consolidated into the ŠKODA AUTO Group.

The reason behind the recent consolidation is ŠKODA AUTO’s assumption of Group-wide responsibility for the important growth market on 1 January 2019. In October Volkswagen India Private Limited (VWIPL), Volkswagen Group Sales India Private Limited (NSC) and ŠKODA AUTO India Private Limited (SAIPL) merged under the new umbrella company ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL).

Klaus-Dieter Schürmann, ŠKODA AUTO Board Member for Finance and IT, emphasises:,“Despite the turbulent waters, ŠKODA AUTO remains on course. The situation is challenging in many markets. However, we were able to increase our operating profit in the first three quarters. The negative effects of exchange  rates and higher upfront costs for new products were compensated through intensive cost management and active sales management with price and mix improvements as well as volume increases outside of China.”

At 1.175 billion euros after the first three quarters, ŠKODA AUTO’s operating profit remains at a very high level and only slightly below the best result in the company’s history in 2017 (first three quarters of 2017 1.206 billion euros). The 8.5% increase compared to the same period last year is clearly positive. The return on sales of 7.9% at the end of September 2019 (January to September 2018: 8.6%) is still well above the industry average.

In September ŠKODA presented numerous new model highlights at the International Motor Show (IAA) in Frankfurt, including the top-of-the-range MONTE CARLO versions of the SCALA and KAMIQ. The city SUV KAMIQ, which completes the manufacturer’s successful SUV range in Europe alongside the KODIAQ and the KAROQ, is being launched on the first markets and will provide new impetus for growth as ŠKODA’s third model in this vehicle segment.

ŠKODA AUTO Group* – Key figures from January to September 2019**

Units 2019 2018 Change in %

Deliveries to customers Cars 913,700 939,100 (2.7)

Deliveries to customers

excluding China

Cars 719,300 688,900 +4.4

Production*** Cars 761,700 667,400 +14.1

Sales**** Cars 804,900 697,800 +15.3

Sales revenue Million EUR 14,811 12,598 +17.6

Operating profit Million EUR 1,175 1,083 +8.5

Return on sales Percent 7.9 8.6 -

Investments in tangible assets Million EUR 745 582 +28.0

* The ŠKODA AUTO Group comprises ŠKODA AUTO a.s, ŠKODA AUTO Slovensko s.r.o., ŠKODA AUTO Deutschland

GmbH, ŠKODA AUTO India Pvt. Ltd., Volkswagen India Pvt. Ltd. (since 1.1.2019), Volkswagen Group Sales India Pvt.

Ltd. (since 1.1.2019) and a share in the company OOO VOLKSWAGEN Group RUS.

** Percentage deviations are calculated from non-rounded figures.

*** Comprises production in the ŠKODA AUTO Group, excluding production at partner assembly plants in China,

Slovakia, Russia and Germany (and till 31.12.2018 in India), but including other Group brands such as SEAT, VW and

AUDI; vehicle production excluding part/complete kits.

**** Comprises ŠKODA AUTO Group sales to distribution companies, including other Group brands such as SEAT, VW,

AUDI, PORSCHE and LAMBORGHINI; vehicle sales excluding part/complete kits.

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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 the following activities:

  • D'Ieteren Automotive distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It has a market share of around 22% and 1.2 million vehicles on the road. Its business model is evolving towards improving the lives of citizens with fluid, accessible and sustainable mobility. Sales and adjusted operating result reached respectively EUR 3.6 billion and EUR 119.0 million in FY 2019.
  • Belron (54.85% of the voting rights) has a clear purpose: “making a difference by solving people’s problems with real care”. It is the worldwide leader in vehicle glass repair and replacement and operates in 39 countries, through wholly owned businesses and franchises, with market leading brands – including Carglass®, Safelite® and Autoglass®. In addition, Belron manages vehicle glass and other insurance claims on behalf of insurance customers. Sales and adjusted operating result reached respectively EUR 4.2 billion and EUR 400.5 million in FY 2019.
  • 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 114 countries. Sales and adjusted operating result reached respectively EUR 163.9 million and EUR 18.6 million in FY 2019.
  • D’Ieteren Immo (100%) groups together the Belgian real estate interests of D’Ieteren Group. It owns and manages approximately 30 properties which generated EUR 19.7 million net rental income in FY 2019. It also pursues investment projects and carries out studies into possible site renovations. 

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