Strong first half of the year: ŠKODA AUTO significantly increases operating profit and revenue

› Successful first half-year despite ongoing challenges from the coronavirus pandemic and chip shortages
› Strong growth: operating profit rises 327.2% to 974 million euros over the same period last year
› Sales revenue of the ŠKODA AUTO Group* from January to June up 35.2% year-on-year to 10.199 billion euros
› Return on sales at a very high level of 9.6%
› Worldwide deliveries to customers in the first half of the year increase 20.8% year-on-year to 515,300 vehicles

Mladá Boleslav, 30 July 2021 – Against the backdrop of the ongoing challenges from the global COVID-19 pandemic and semiconductor shortages, ŠKODA AUTO increased its vehicle deliveries by more than a fifth in comparison with last year, in the first six months of the year. The carmaker recorded particularly strong growth in vehicle deliveries in Russia (+54.3%), India (+31.2%), Eastern Europe (+35.0%) and Western Europe (+30.9%). In the first half of 2021, the ŠKODA AUTO Group* increased its sales revenue by 35.2% year-on-year to 10.199 billion euros, while operating profit rose significantly by 327.2% to 974 million euros in the same time frame, also exceeding the figure for the pre-pandemic year 2019. The return on sales reached a very high level of 9.6% in the first half of the year.

210730-Infographic_1H_2021 Thomas Schäfer, ŠKODA AUTO CEO, says: “We can look back on a strong first half-year. Despite the semiconductor shortages and the impact of the pandemic, we even managed to improve on the results of the pre-pandemic year 2019. I would like to congratulate the entire ŠKODA team on this great performance! This has given us an excellent basis to successfully implement our new corporate strategy NEXT LEVEL – ŠKODA STRATEGY 2030.”

Klaus-Dieter Schürmann, ŠKODA AUTO Board Member for Finance and IT, adds: “Our efficiency programme is bearing fruit. Thanks to tight cost control and further optimisation measures, especially in sales, we were able to significantly increase our operating profit and sales revenue in the first half of the year. ŠKODA AUTO is sustainably profitable with a return on sales of 9.6%, and the operating business is extremely robust. This gives me confidence for the second half of the year. We are maintaining our high level of cost discipline.”

Martin Jahn, ŠKODA AUTO Board Member for Sales and Marketing, emphasises: “The delivery figures for the first half of the year speak for themselves: our product campaign is striking a chord with customers. We are recording the strongest growth in Russia and Europe. Following the successful launch of the ENYAQ iV, the recently upgraded KODIAQ and FABIA models will create further impetus for growth.”

ŠKODA AUTO has gained momentum after a challenging 2020. In the first half of the year, sales revenue increased by 35.2% to 10.199 billion euros compared to the same period last year. The company more than tripled its operating profit in the same time frame compared to the previous year to 974 million euros. The return on sales stands at a very high level of 9.6%. The brand was able to increase deliveries to customers worldwide by over a fifth to 515,300 vehicles.

With its new NEXT LEVEL – ŠKODA STRATEGY 2030, the brand is successfully steering through this decade of transformation. As part of the strategy, the company is setting itself ambitious goals in the areas of sustainable growth, developing new sales regions and electrification. By 2030, ŠKODA AUTO plans to be one of the five best-selling car brands in Europe. To achieve this, the Czech car manufacturer is focusing on particularly affordable entry-level models and a strong, electrified model portfolio. In addition, ŠKODA aims to become the leading European brand in India, Russia and North Africa and is taking on further responsibilities within the Volkswagen Group. In collaboration with the Group and partners from politics and business, ŠKODA AUTO is also working to establish its home country, the Czech Republic, as an electromobility hub.

ŠKODA AUTO Group* – Key figures in the first half-year, January to June 2021/2020**:

         

2021

 

2020

Change in %
Deliveries to customers   cars   515,300 426,700 20.8%
Deliveries to customers excl. China   cars   471,300 349,300 34.9%
Production***   cars   458,700 357,000 28.5%
Sales****   cars   463,000 371,900 24.5%
Sales revenue   million EUR   10,199 7,546 35.2%
Operating profit   million EUR   974 228 327.2%
Return on Sales   %   9.6 3.0  
Investments in tangible assets   million EUR   196 261 -24.9%
Net cash flow   million EUR   678 -25 2812.0%

 

* 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 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, 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 2021: ŠKODA AUTO delivers 515,300 vehicles worldwide
From January to June, the Czech carmaker delivered 515,300 vehicles to customers worldwide, 20.8% more than in the same period last year (first half of 2020: 426,700 vehicles).

In Western Europe, ŠKODA AUTO recorded 237,900 deliveries in the first half of the year, 30.9% more than in January to June 2020. In Germany, its largest single market, the company increased deliveries to customers by 19.4% year-on-year to 75,900 vehicles (first half of 2020: 63,600 vehicles).

In Central Europe, the car manufacturer delivered 97,400 vehicles to customers in the first half of 2021 (compared to 84,400 vehicles from January to June 2020; +15.4%). In the Czech domestic market, ŠKODA increased deliveries to customers by 11.7% to 44,000 vehicles (39,400 vehicles in the same period of the previous year).

In Eastern Europe excluding Russia, the company increased its deliveries to customers by 35.0% to 22,500 vehicles (January to June 2020: 16,700 vehicles).

In Russia, the manufacturer delivered 52,800 vehicles from January to June, significantly outperforming not only the same period last year (first half of 2020: 34,200 vehicles; +54.3%) but also the pre-pandemic figures.

In China, deliveries to customers declined by 43.1% to 44,000 units in the first half of 2021 (same period in 2020: 77,400 vehicles). The main reason for this is the semiconductor shortage.

In India, ŠKODA AUTO delivered 4,900 vehicles from January to June 2021 (first half of 2020: 3,700 vehicles; +31.2%).

In Turkey, the brand recorded strong growth in vehicle deliveries of 129.8% (first half of 2021: 17,600 vehicles; first half of 2020: 7,600 vehicles)

ŠKODA brand deliveries to customers in the first half of 2021 (in units, rounded off,  listed by model; +/- in per cent compared to the first half of 2020):

ŠKODA OCTAVIA (121,000; +9.3%)
ŠKODA KAROQ (75,500; +34.3%)
ŠKODA KAMIQ (73,700; +40.4%)
ŠKODA KODIAQ (64,700; +6.5%)
ŠKODA FABIA (56,600; +17.7%)
ŠKODA SUPERB (40,100; +6.1%)
ŠKODA RAPID (37,900; +35.1%)
ŠKODA SCALA (28,000; +2.5%)
ŠKODA ENYAQ (14,600; -)
ŠKODA CITIGOe iV (only sold in Europe: 3,100; -40.4%)