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Skoda continues "growth plan" with successful first nine months 2011

By / 9 years ago / Latest News / No Comments

From January to September, sales revenue rose 21.2% to €7.6bn compared to the same period last year. At the same time, the operating profit increased 83.1% to €575m and thus already exceeds the last year’s total, also a record, after only three quarters of this year. Deliveries to customers also reached a new record in the first nine months with 664,800 units (an increase of 16.8% compared to the same period last year).

Prof. Dr. h.c. Winfried Vahland, chairman of the Board of Skoda, said: ‘Skoda is making great strides and has achieved new records in sales, sales revenue, and profit in the first nine months of the year. We are consistently implementing the Skoda Growth Strategy. In the first nine months, we have invested heavily in our growth and strengthened our financial situation simultaneously.

‘Thus, the course has been set for the coming years. With the new small car Citigo and the Rapid, which has already been launched in India, our model offensive is rolling out during these very weeks. In the coming years, an average of one new Skoda model will be introduced every six months. By the year 2018, we want to increase our annual worldwide sales to at least 1.5m vehicles.’

Winfried Krause, chief financial officer of Skoda, added: ‘In the first nine months of 2011, Skoda increased its sales revenue and profit with a significant sales upswing and an enhanced model mix. At the same time, we succeeded in continuing to improve our cost situation and to increase our net liquidity. Thus, Skoda has a solid basis for investments in new products, capacities, and markets.’

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