ŠKODA AUTO achieves positive operating profit of €676 million in first half of 2022

› Return on sales remains stable at 6.6% (same period last year: 9.6%)
› Carmaker delivers 360,600 vehicles worldwide (-30%)
› War in Ukraine, ongoing semiconductor shortage and significant price increases for energy and raw materials create challenging market environment
› Half-year result particularly impacted by consolidation of OOO Volkswagen Group Rus under ŠKODA AUTO a.s. shortly before the outbreak of the war in Ukraine
› Outlook: Company still expects robust return on sales for year as a whole

Mladá Boleslav, 29 July 2022 – ŠKODA AUTO delivered 360,600 vehicles worldwide in the first half of 2022 – 30% fewer than in the same period last year. The reasons for this include the war in Ukraine and the ongoing shortage of semiconductors. The operating profit of €676 million is 30.6% below the previous year, while the return on sales remains strong at 6.6% (previous year 9.6%). ŠKODA AUTO is continuing its NEXT LEVEL EFFICIENCY+ programme and still expects a robust return on sales for the year as a whole.

“Despite the many geopolitical and macroeconomic challenges, it’s clear that ŠKODA AUTO is crisis-proof. Our business is robust, demand for our models remains high and customers have stayed loyal to us in spite of the unavoidable waiting times. I thank them for this, and I’d also like to thank the entire team, who are demonstrating great resilience and flexibility in these times while doing everything they can to ensure our customers receive their new ŠKODA as quickly as possible. We expect the supply of semiconductors to further improve over the coming weeks and months. At the end of August, we’ll be presenting to the world our new brand identity that will reposition ŠKODA for the decade of transformation.”


ŠKODA AUTO CEO Klaus Zellmer

“The challenges we faced at the beginning of the year intensified in the second quarter. Nevertheless, ŠKODA is coping very well: Although significantly fewer vehicles were delivered to customers due to the supply bottlenecks, and prices for energy and raw materials have increased costs considerably, we were able to maintain the robust return on sales of 6.6%, in the second quarter. Through strong teamwork, we’ll continue to address the challenges, especially the global supply chain disruptions and the impact of war in Ukraine. We are therefore consistently pursuing our NEXT LEVEL EFFICIENCY+ cost and efficiency programme.”


ŠKODA AUTO Board Member for Finance and IT Christian Schenk

“We can look back on an extremely challenging first half of the year. In addition to the semiconductor shortage and coronavirus pandemic, the war in Ukraine has had a particularly strong impact on us: In Russia, our second most important market, we suspended vehicle production at our Kaluga and Nizhny Novgorod plants until further notice and halted all exports to the country. In addition, a fire at one of our suppliers forced us to stop production of our best-selling OCTAVIA at certain points over the last few months. However, we have now resumed production at full capacity. We are also optimistic about the global demand for our vehicles, which remains high. We are working tirelessly to process the backlog of orders and shorten waiting times for our customers.”


ŠKODA AUTO Board Member for Sales and Marketing Martin Jahn

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The revenue of the ŠKODA AUTO Group* increased slightly by 0.2% to €10.2 billion due to consolidation. Because OOO Volkswagen Group Rus has been consolidated under ŠKODA AUTO a.s. since the beginning of the year, the figures cannot be directly compared to the same period last year. The return on sales remained at a solid level of 6.6% (9.6% in the same period last year), with operating profit falling 30.6% to €676 million. The Czech carmaker is consistently addressing the many challenges by maximising earnings potential and optimising material, production and fixed costs through its NEXT LEVEL EFFICIENCY+ programme. ŠKODA AUTO continues to focus on particularly affordable entry-level models and a strong, electrified model portfolio. Based on this, the company expects to maintain a solid operating profit and stable return on sales for the year as a whole.

ŠKODA AUTO Group* – Key figures for the first half of the year, January to June 2022/2021**:

         

2022

 

2021

 

change in %

 
Deliveries to customers   cars   360,600 515,300 -30.0  
Deliveries to customers excl. China   cars   335,900 471,300 -28.7  
Production***   cars   456,200 458,700 -0.6  
Sales****   cars   446,800 463,000 -3.5  
Sales revenue   million EUR   10,223 10,199 0.2  
Operating profit   million EUR   676 974 -30.6  
Return on sales   %   6.6 9.6    
Investments in tangible assets   million EUR   201 196 2.6  
Net cash flow   million EUR   700 678 3.2  
             

 

* ŠKODA AUTO Group comprises ŠKODA AUTO a.s, ŠKODA AUTO Slovensko s.r.o., ŠKODA AUTO Deutschland GmbH, SKODA AUTO Volkswagen India Private Ltd. and 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 and Germany, 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

First half of 2022: ŠKODA AUTO delivers 360,600 vehicles worldwide
In the first six months of the year, the Czech car manufacturer delivered 360,600 vehicles to customers worldwide. This represents a decrease of 30.0% compared to the same period last year (January to June 2021: 515,300).

In Western Europe, deliveries from January to June dropped 24.1% to 180,500 vehicles (2021: 237,900 vehicles). In Germany, the company’s single largest market in the world, deliveries to customers were down 16.4% year-on-year to 63,500 vehicles (first half 2021: 75,900 vehicles).

In Central Europe, ŠKODA AUTO recorded 69,800 deliveries to customers in the first half of 2022 compared to 97,400 from January to June 2021 (-28.4%). In the Czech domestic market, there were 35,500 deliveries to customers in the same period, 19.4% fewer than in the same time frame last year (first half of 2021: 44,000).

In Eastern Europe excluding Russia, the car manufacturer delivered 15,200 vehicles to customers (January to June 2021: 21,700, -30.1%)

ŠKODA AUTO posted strong growth in India, delivering 25,900 vehicles from January to June 2022 – an increase of 428.7% compared to the previous year (first half of 2021: 4,900 vehicles).

Halting shipments has had a significant impact in Russia, where the carmaker has not delivered any vehicles to customers since 3 March. Between January and June, ŠKODA AUTO recorded a total of 14,600 vehicles delivered (first half of 2021: 52,800, -72.3%)

In Turkey, the company delivered 9,800 vehicles (January to June 2021: 17,600, -44.4%)

In China, deliveries to customers in the first half of 2022 fell 43.9% to 24,700 units (the same period in 2021: 44,000).

ŠKODA brand deliveries to customers in the first half of 2022
(in units, rounded, listed by model; +/- in per cent compared to previous year):
ŠKODA OCTAVIA (61,000; -49.5%)
ŠKODA KODIAQ (50,600; -21.8%)
ŠKODA KAMIQ (47,200; -36.0%)
ŠKODA FABIA (45,900; -19.0%)
ŠKODA KAROQ (43,000; -43.1%)
ŠKODA SUPERB (33,100; -17.5%)
ŠKODA ENYAQ (22,200; +52.2%)
ŠKODA SCALA (21,300; -23.7%)
ŠKODA KUSHAQ (13,500; –)
ŠKODA RAPID (12,300; -67.5%)
ŠKODA SLAVIA (10,300; –)

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