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Mladá Boleslav, August 2nd, 2011 – The Czech automobile manufacturer ŠKODA has concluded the first half of 2011 with new records in sales revenue and profit. Between January and June, sales revenue rose more than a quarter (plus 25.7 percent) to 5.4 billion EUR. During the same period, operating profit increased 81.5 percent to 412 million EUR. Deliveries to customers accelerated 20.1 percent to 454,698 vehicles (last year: 378,747 units).

"In the first half of the year, ŠKODA developed at a brisk pace in all areas," says the chairman of the board of ŠKODA, Prof. Dr. h.c. Winfried Vahland. "The team succeeded in turning the ŠKODA growth strategy launched last year into impressive sales and financial figures. We will continue to pursue that strategy consistently in the second half of the year and in subsequent years, with the clear goal of increasing worldwide sales to at least 1.5 million units per year until 2018." In order to accomplish this goal, the company wants to expand its position on the international markets as well as its model range at a rapid speed. "We will already start our product offensive at the end of 2011 by launching the ŠKODA Citycar," said Vahland.

The ŠKODA board member for Commercial Affairs, Winfried Krause, says: "In the first half of 2011, ŠKODA has continued to strengthen its financial base and its global competitive situation. This was caused by significantly increased sales and an improved model mix. Thus, ŠKODA has a solid financial basis for the planned dynamic growth course of the coming years."

Overall, the sales revenue of the Czech manufacturer rose 25.7 percent to 5.4 billion EUR (last year: 4.3 billion EUR). At the same time, operating profit was 81.5 percent ahead of the same period of last year, reaching 412 million EUR (last year: 227 million EUR). The profit before income tax amounted to 388 million EUR, a plus of 81.3 percent compared to the first half of 2010. Net liquidity improved to 2.0 billion EUR in the first six months of the year (1.6 billion EUR on December 31st, 2010).

ŠKODA continues to invest in its future. Investments have increased to 118 million EUR. The funds were used for the preparation of the model offensive as well as for the expansion of capacities at the Czech plant locations.

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