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Prague/Mladá Boleslav, March 21st, 2012 – 2011 was the best fiscal year so far in Czech car maker ŠKODA's corporate history, setting new records in deliveries, sales and profit. Deliveries to customers rose by 15.3 per cent to 879,200 cars from January to December 2011 (2010: 762,600 units).

At the same time, ŠKODA's sales increased 18.1 per cent to 10.3 billion euros (2010: 8.7 billion euros), thus crossing the 10-billion-euros threshold for the first time.

Operating profit improved by 66.1 per cent to 743 million euros (2010: 447 million euros). The company believes it is well prepared for the years ahead. It is aiming to raise deliveries to at least 1.5 million cars per year by 2018 thanks to new models and increased internationalisation. Led by the Citigo subcompact and the Rapid saloon, which is sold in India, the brand's model offensive is now well on its way.

"Our ŠKODA growth strategy is bringing results," said ŠKODA CEO Winfried Vahland at the company's annual press conference in Prague. "We improved both in terms of deliveries and in financial terms, creating an excellent base for our growth course in years to come," said Vahland. "My special thanks go out to ŠKODA outstanding staff, for without them, such an impressive result would not have been achievable".

Growth in all sales regions
In 2011, ŠKODA cars were in demand as never before: deliveries rose 15.3 per cent 879,200 cars, a new high. The brand grew stronger than the overall market in all sales regions and improved its market share in almost all individual markets. World market share rose to more than 1.4 per cent as at December 31st, 2011.
ŠKODA achieved its strongest percentage growth in Eastern Europe, where it advanced 47 per cent. Russia was the strongest individual market in the region. Here, the brand's sales rose by 62.5 per cent to 74,100 units (2011: 45,600). Asia was clearly marked by growth in 2011. A sales increase of almost 50 per cent showed ŠKODA in especially rude health in India. In China, which continues to be ŠKODA's largest market, the brand advanced 21.9 per cent to about 220,100 deliveries.

ŠKODA eminently bucked the trend in Western Europe's hotly contested market. While the overall market shrank by 1.5 per cent, ŠKODA's sales advanced by 8.6 per cent. ŠKODA models were especially in demand in Germany, where sales grew by 13 per cent. Sales were robust in Central Europe's otherwise declining markets, with the brand achieving a sales plus of 1.7 per cent in a difficult economic climate. In the Czech Republic, the brand is firmly entrenched as number one, with more than one in three cars sold bearing its distinctive winged arrow.

An attractive model palette – ever more popular
ŠKODA's excellent sales performance is mainly the result of its attractive model palette. "Outstanding design, a generous room offering, top-of-the-line quality, everyday and family practicality as well as an excellent price-to-value ratio, this is what makes our cars special," said Vahland. "Our new models will create even more of a tailwind for us." ŠKODA cars are becoming increasingly popular with corporate customers, too. The brand sold more than 239,000 cars to fleet operators, a plus of 26.7 per cent.

The Octavia confirmed its status as ŠKODA's most popular model in 2011. The Octavia is the "heart of the brand", its sales rising 10.7 per cent to almost 390,000. The Fabia made number two in ŠKODA's internal sales ranking, clocking up 267,000 units (plus 16.5 per cent).

The ŠKODA Superb cracked the 100,000-unit barrier for the first time last year, sales of the brand's flagship rose by 18.1 per cent to about 117,000, of which 48,000 were sold in China alone.

The Yeti compact SUV achieved the strongest growth of all ŠKODA models: 33.7 per cent growth translates into more than 70,000 Yetis sold in 2011. ŠKODA reckons it can sell more than 100,000 units of the car per year in years to come, one factor being production of the Yeti in China and Russia, which is set to begin in 2013.

At 36,000 units sold, the Roomster posted an 11.4 per cent growth.

ŠKODA's number six and seven model lines, the Citigo subcompact and the Rapid Indian compact saloon, were off to an excellent start. The Citigo had its sales debut in its Czech home market in late 2011 and will be rolled out to European markets from May this year. The Rapid, first marketed from late 2011 in India, opens up the second-largest segment in the Indian market for the brand. The car was immediately voted India's "Family car of the Year".

2011 financial results
ŠKODA's success in sales is reflected in the brand's financial figures, showing a company in excellent health again in 2011. Revenues rose 18.1 per cent to 10.3 billion euros, topping the ten-billion euro mark for the first time. Operating profit reached 743 million euros, and advance of 66.1 per cent or 296 million euros as against the previous year. Operating return on sales was 7.2 per cent.  "More than 10 billion euros in revenue and almost three quarters of a billion in operating profit, those are figures that confirm ŠKODA profitability and financial solidity," said Winfried Krause, ŠKODA Chief Financial Officer. Profit before income tax was 783 million euros (plus 87.2 per cent), and 652 million euros after taxes.

On the revenue side, ŠKODA's favourable financial performance was based on increased sales, but also an improved model mix. On the expenditure side, additional cost reductions have helped. At the same time, the brand has increased its investments, with spending on plant rising by 165 million euros as against 2010 to reach 568 million euros. "Investment in products, structures and capacity will be the basis for further growth," said Krause.

An impressive start to 2012 and a confident look ahead
"2011's solid performance and a great team means we are well prepared for the years ahead," said ŠKODA CEO Vahland. "Dedication, sales performance and profitability will form the basis for ongoing success," Vahland went on. "Our future is profitable growth, and this will be our mission in 2012 as well." 147,500 cars sold, representing a plus of 11.6 per cent, means the brand had a good start to 2012 in the first two months. There are, however, some economic uncertainties regarding the rest of this year, especially in several European markets.

This year and next, ŠKODA will be expanding its model palette. Following the successful introduction of the Rapid in India and the Citigo, the brand will launch a new compact saloon for European markets in the course of the year. The close-to-series "MissionL" study, on display at the 2011 IAA in Frankfurt, provided a preview.

In addition, the company is continuing its internationalisation and strengthening its global presence, both in Asia and Eastern Europe, but also in the key markets of Europe. "Despite a slight dulling of the overall business environment in Western Europe and some countries of Central Europe, we remain cautiously optimistic for the future," said Vahland.

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