In a difficult environment, ŠKODA AUTO achieves a solid third quarter result and stability …

Skoda Auto Deutschland GmbH

ŠKODA AUTO achieves solid third quarter earnings and stable return on sales in a challenging environment

Mlada Boleslav (ots)

›Main financial data at stable level from January to September 2022

›Operating profit of € 856 million (-4.9% compared to the previous year), return on sales of 5.6% (2021: 6.8%)

›ŠKODA AUTO delivers 544,500 vehicles to customers worldwide (-22.3%)

›Quarterly result burdened by the war in Ukraine, energy prices and supply bottlenecks

›Dynamic growth in India (+ 186.9%): deliveries in the first nine months already exceed the full year of 2021

›Outlook: ŠKODA AUTO continues its cost and efficiency program steadily and expects a clearly positive operating result during the year

Despite the difficult market environment, ŠKODA AUTO achieved a stable return on sales of 5.6% and an operating result of 856 million euros (-4.9% compared to the previous year) in the first three quarters of 2022. This shows that the measures of the ongoing efficiency program have taken effect. Due to the high order backlog and the sharp increase in deliveries in India’s important growth market (+ 186.9%), ŠKODA AUTO also expects a positive operating result for the full year. Deliveries from January to September totaled 544,500 vehicles. The reason for the 22.3 percent decline from the previous year is the still tense supply situation due to global events. The effects of the war in Ukraine, the sharp rise in commodity and energy prices, the continuing shortage of semiconductors and unstable supply chains also weighed on the Czech automaker’s quarterly results.

Christian Schenk, ŠKODA AUTO Board Member for Finance and IT, states: “Despite the current economic burdens due to the war in Ukraine, rising commodity and energy prices and fragile supply chains, we have managed to achieve a stable return on sales of 5.6%. This was based on our comprehensive NEXT LEVEL EFFICIENCY + program and the continuing high level of cost discipline. This makes it clear that ŠKODA has a solid financial foundation. For the rest of the year, we aim for a clearly positive operating result “.

Martin Jahn, ŠKODA AUTO Board Member for Sales and Marketing, underlines: “The demand for ŠKODA vehicles remains high. We are now doing everything we can to keep working through the unchanged high order backlog. We also want to continue the very successful recent development in the Indian market: our deliveries to India are already outpacing the previous year’s result. We want to build on this and continue to gain momentum in this important growing market ”.

Stable operating result, return on sales only slightly lower than the previous year

The ŠKODA AUTO Group (1) generated sales of 15.2 billion euros in the first three quarters of the year, which corresponds to an increase of 13.9% over the previous year. However, due to the consolidation of the Volkswagen Rus Group under ŠKODA AUTO since the beginning of the year, the key figures cannot be compared with those of the same period of the previous year. At the same time, the consolidation of the Volkswagen Rus Group represented a particular challenge for ŠKODA AUTO with a negative effect on the operating result in the mid-range of three-digit million. However, it was possible to keep the return on sales at a solid level at 5.6% (2021: 6.8%) and the operating result at 856 million euros (-4.9% compared to the previous year). In order to further stabilize the operating result for the full year and maximize earnings potential, the company is optimizing production and fixed costs as well as material costs. At the same time, the automaker continues to expect production restrictions due to existing component supply bottlenecks.

ŠKODA AUTO Group (1) – Quarterly comparison of key figures, January to September 2021/2022 (2):

                                              2022        2021         Änderung in %
Auslieferungen an Kunden    Fzg.              544.500     700.700      -22,3
Auslieferungen an Kunden,
ohne China                  Fzg.              508.300     648.000      -21,6
Produktion(3)               Fzg.              647.200     578.200      +11,90
Absatz(4)                   Fzg.              645.500     596.100      +8,30
Umsatz                      Mio. EUR          15.181      13.329       +13,90
Operatives Ergebnis         Mio. EUR          856         900          -4,90
(Return on Sales)           %                 5,60 %      6,80 % 
Sachinvestitionen           Mio. EUR          605         337          +79,50
Netto Cash Flow             Mio. EUR          830         321          +158,60

(1) The ŠKODA AUTO group includes ŠKODA AUTO as, ŠKODA AUTO Slovensko sro, ŠKODA AUTO Deutschland GmbH, ŠKODA AUTO Volkswagen India Private Ltd. and OOO Volkswagen Group Rus.

(2) Percentage deviations are calculated from unrounded figures.

(3) Includes production in the ŠKODA AUTO Group, excluding production at partner assembly plants in China, Slovakia and Germany, but includes other Group brands such as SEAT, VW and AUDI; Production of vehicles without partial / complete kits.

(4) Includes ŠKODA AUTO Group sales to sales companies, including other Group brands such as SEAT, VW, AUDI, PORSCHE and LAMBORGHINI; Sale of vehicles without parts / complete kits.

Worldwide deliveries in the first three quarters of the year by market region:

Market area: deliveries from January to September 2022 (deliveries Q1 – Q3 2021 / change in%)

Western Europe: 281,100 vehicles (326,400 vehicles; -13.9%)

Germany (largest single market in the world): 100,700 vehicles (104,600 vehicles; -3.8%)

Central Europe: 106,300 vehicles (132,600 vehicles; -19.9%)

Czech Republic (domestic market): 51,200 vehicles (63,000 vehicles; -18.7%)

Eastern Europe without Russia: 23,300 vehicles (29,500 vehicles; -20.9%)

Russia: 16,600 vehicles (72,600 vehicles; -77.2%)

China: 36,300 vehicles (52,700 vehicles; -31.2%)

India: 38,300 vehicles (13,300 vehicles; + 186.9%)

Total (worldwide): 544,500 vehicles (700,700 vehicles; -22.3%)

Deliveries of the ŠKODA brand to customers in the first three quarters of 2022

(in units, rounded, by model; +/- as a percentage of the previous year):

ŠKODA OCTAVIA (106,800; -33.0%)

ŠKODA KAMIQ (73,100; -26.2%)

ŠKODA KODIAQ (71,300; -13.6%)

ŠKODA FABIA (69,800; -15.0%)

ŠKODA KAROQ (61,400; -36.5%)

ŠKODA SUPERB (45,200; -12.1%)

ŠKODA ENYAQ iV (36,900; + 30.7%)

ŠKODA SCALA (29,700; -25.3%)

ŠKODA KUSHAQ (19,500; + 286.8%)

ŠKODA SLAVIA (15,400 😉

ŠKODA RAPID (15,300; -70.8%)

Press contact:

Cristoforo Birringer
Head of Corporate Communication
Phone: +49 6150 133 120

Ulrich Bethscheider-Kieser
Product and Brand Communication Manager
Phone: +49 6150 133 121

Original content of: Skoda Auto Deutschland GmbH, transmitted by news aktuell

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