@VW Group: Škoda Auto Group: Robust financial and sales figures across the first nine months of 2023007958

“The solid trend in the first nine months of 2023 is the result of dedicated and persistent work by our team at Škoda, including our dealer organisation that is the face of our brand to customers. Thanks to this performance and our robust business model, Škoda Auto continues to steer a successful course. The development of our operating profit, climbing more than 47%, speaks for itself. However, the past three years in particular have shown that the markets are developing increasingly dynamically. Despite all our confidence, we will remain vigilant. That’s why we are continuing to channel our efforts consistently into ensuring that our company is ideally positioned on the international stage.”


Klaus Zellmer, CEO of Škoda Auto

“In the first three quarters of this year, we managed to stabilise our supply chains. Our return on sales grew by 0.8 percentage points year-on-year to 6.4%, and this figure includes the effects of discontinuing our operations in Russia*. By investing over 500 million euros in tangible assets like periodic IT infrastructure upgrades, we have laid the groundwork for our upcoming digital offerings. Additionally, our focus has been on enhancing our BEV portfolio to meet customer needs and intensify our sustainability initiatives. Nevertheless, as we approach the year-end, we anticipate challenges and remain committed to ensuring 2023 concludes successfully.”


Holger Peters, Škoda Auto member of the Board of Management for Finance, IT and Legal Affairs

“Our deliveries in the first nine months underscore the global appeal of Škoda’s modern model range. Demand for the Enyaq series has increased particularly strongly, with deliveries up 47.6 per cent on the previous year. Sales of the Kodiaq and Superb also increased, and the upcoming generation of these models will add yet another chapter to their success story. With dynamic design, modern technology and even more interior space, they are sure to impress existing and new customers alike.”


Martin Jahn, Škoda Auto Board Member for Sales and Marketing

Strong performance: Higher operating profit and Enyaq’s sales momentum
In the first nine months of 2023, Škoda Auto demonstrated considerable financial strength. The return on sales remained stable at 6.4%, even after accounting for the cessation of activities in Russia. Operating profit during this period rose to 1.26 billion euros, recording growth of 47.2% over the previous year. However, a recent supply chain disruption from a Slovenian supplier may impact earnings for the rest of the year.

The all-electric Enyaq series has been a key contributor to this success, gaining significant traction in countries like the Czech Republic, Slovakia, Finland, Austria, and Switzerland, where it ranked among the top three best-selling electric cars between January and August 2023.

By September, Škoda Auto’s global deliveries totalled 642,200 vehicles – a year-on-year increase of 97,700 units.

With 145,000 units sold, the Octavia continues to be the brand’s bestseller, achieving a year-on-year increase of 35.8%. The compact model represents over a fifth of Škoda’s total global deliveries. Other models, such as the Fabia and Kamiq, Kodiaq and Karoq SUVs, also experienced strong demand.

Expanding internationalisation with a focus on Vietnamese market
Škoda Auto is expanding its presence and stepping up international operations. September marked the brand’s entry into the Vietnamese market, a strategic move to tap the potential of the ASEAN region. Initial sales in Vietnam will focus on the imported Karoq and Kodiaq models.

While these sales will only gradually be reflected in the results, the carmaker anticipates sales potential of over 40,000 units annually after 2030. Škoda views the country as a gateway to the ASEAN region, for which it has taken on strategic responsibility within Volkswagen Group’s Brand Group Core.

* In May 2023, the Volkswagen Group completed the sale of its assets in OOO Volkswagen Group Rus to OOO Art-Finance, supported by the Russian Dealer Avilon.

Škoda Auto Group1)Quarterly comparison of key figures, January to September 2023/20222)

         

2023

 

2022


change
Deliveries to customers   cars   642,200 544,500 17.9%
Deliveries to customers excl. China   cars   624,100 508,300 22.8%
Production3)   cars   741,500 647,200 14.6%
Sales4)   cars   777,500 645,500 20.5%
Sales revenue   million EUR   19,659 15,181 29.5%
Operating profit   million EUR   1,260 856 47.2%
Return on sales   %   6.4 5.6  
Investments in tangible assets    million EUR   503 605 -16.9%
Net cash flow    million EUR   1,015 830 22.3%


1)
Škoda Auto Group comprises Škoda Auto a.s., Škoda Auto Slovensko s.r.o., Škoda Auto Deutschland GmbH, Škoda Auto Volkswagen India Private Ltd. and until May 2023, the Group also included OOO Volkswagen Group Rus, the financial results of which are included up to that date.

2) Percentage deviations are calculated from non-rounded figures.
3) 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.
4) 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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Worldwide deliveries in the first three quarters of 2023, listed by market region:

Market region Deliveries from January to September 2023

(Q1 – Q3 2022 / change in %)

Europe 525,900 vehicles                    (427,300 vehicles; +23.1%)
EU 27+NO+IS 443,500 vehicles                    (353,700 vehicles; +25.4%)
Western Europe 355,100 vehicles                    (281,100 vehicles; +26.3%)
Germany
(largest single market globally)
115,300 vehicles                    (100,700 vehicles; +14.6%)
Central Europe 136,400 vehicles                     (106,300 vehicles; +28.3%)
Czech Republic
(domestic market)
64,300 vehicles                     (51,200 vehicles; +25.7%)
Eastern Europe 34,400 vehicles                       (39,900 vehicles; -13.7%)
India 35,600 vehicles                       (38,300 vehicles; -7.1%)
China 18,100 vehicles                      (36,300 vehicles; -50.1%)
Rest of the world 62,600 vehicles                    (42,700 vehicles; +46.7%)
Turkey 24,400 vehicles                    (12,600 vehicles; +93.1%)
Israel 12,700 vehicles                    (10,900 vehicles; +17.3%)
Total (Worldwide) 642,200 vehicles (544,500 vehicles; +17.9%)

Škoda brand deliveries to customers in the first three quarters of 2023
(in units, rounded, listed by model; +/- in percent compared with previous year):

Škoda Octavia (145,000; 35.8%)
Škoda Kamiq (85,300; 16.7%)
Škoda Kodiaq (81,200; 13.9%)
Škoda Karoq (75,800; 23.5%)
Škoda Fabia (70,000; 0.3%)
Škoda Enyaq (54,400; 47.6%)
Škoda Superb (50,400; 11.4%)
Škoda Scala (43,300; 45.6%)
Škoda Kushaq (19,300; -1.4%)
Škoda Slavia (14,100; -8.3%)
Škoda Rapid (3,300; -78.8%)

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