Skoda shoots 34% profit in 2017 and will launch 19 new models in two years

Published 3/21/2018 11: 35: 31CET

MLADÁ BOLESLAV (CZECH REPUBLIC), Mar. 21 (EUROPA PRESS) –

The Czech car firm Skoda posted a net profit of 1,274 million euros at the end of last year, which is an increase of 34% compared to the 951 million euros it won in 2016, according to data published by the company, which will launch 19 new models to the market in two years.

The company, which indicated that 2017 was the most successful financial year in its history, pointed out that this improvement in its annual results is explained by the high demand of its range of products, which led to a significant increase in its global sales.

The CEO of the brand, Bernhard Maier, said that in his company are “motivated” to continue this positive path, while noting that the company is immersed in the implementation of its strategic plan ‘Strategy 2025’.

Skoda closed last year with a turnover of 16,559 million euros, 20.8% more compared to the 13,705 million euros entered in 2016, while its global sales reached 1.2 million units, a record and an increase of 6.6%.

The automobile firm, owned by the Volkswagen group, posted an annual operating profit of 1,611 million euros, 34.6% more, while its profit before tax rose 33.9% to 1,570 million euros.

OFFENSIVE MODELS

On the other hand, the Czech company confirmed that it is immersed in a strong product offensive, through which it plans to launch 19 new models to the market by 2020, among which will be included in 2019 a production version of the Vision X, that was unveiled in the past Geneva Motor Show.

The company recalled that last year made total investments for an amount of 733 million euros, which translates into a rise of 3.9% compared to the 548 million euros allocated to this item during 2016.

As part of these investments and the company’s electrification strategy, Skoda will start in 2019 the manufacture of the first 100% electric vehicle of the firm, the Citigo BEV, while that same year will also begin to assemble the plug-in hybrid Superb, The first model of these characteristics of the firm.

Likewise, the company will manufacture electrical components for other brands of the group from 2019 in its Mladá Boleslav factory, while the electric Vision E will be launched in 2020 and the company plans to have an offer of electrified models of ten vehicles by 2025.