In order to keep up with demand, production was increased by 28.4 percent to 174,970 vehicles. Sales revenues rose 32.7 percent to a very respectable EUR2.7 billion in the first three months of the year. During the same period, the operating profit grew 87 percent to EUR187 million.
Profit before income came amounted to EUR173 million, a growth of 84 percent compared to the first three months of 2010. Net liquidity continued to improve to EUR1.9 billion in the first quarter, compared to the EUR1.6 billion at the end of last year.
“Skoda continues to keep its foot on the gas pedal in 2011 and has shown an excellent performance in the first quarter,” emphasised the chairman of the board of Skoda, Prof. Dr. h.c. Winfried Vahland. “The good financial results underscore the good overall condition the company is in and create the financial prerequisites for our future growth course.”
The Czech automobile manufacturer wants to double its worldwide sales to 1.5 million vehicles by 2018.
“The financial situation of the company has continued on its positive course during the first three months of 2011. Higher sales volumes, in particular of the Fabia, Yeti, and Superb models, have contributed significantly to this development,” the Skoda board member for Commercial Affairs, Winfried Krause, added.
Overall, the sales revenues of the Czech manufacturer rose 32.7 percent to EUR2.7 billion(previous year: EUR2 billion).
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