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ŠKODA AUTO achieves operating profit of 228 million euros in first half of 2020 despite COVID-19 pandemic - Škoda Storyboard

By A Mystery Man Writer

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Mladá Boleslav, 31 July 2020 – The measures to contain the coronavirus pandemic also had a negative impact on ŠKODA AUTO’s vehicle deliveries and financial indicators in the first half of 2020. The ŠKODA AUTO Group’s* sales revenue was €7.55 billion in the first six months, but the operating profit still amounted to €228 million – despite the 39-day shutdown of the Czech plants and the disruption to the sales channels, particularly in April. Against this background, the return on sales stood at 3.0%. ŠKODA AUTO delivered a total of 426,700 vehicles to customers from January to June. Since June, the Czech automobile manufacturer has been experiencing the positive effects of its restart programmes, which have been adapted to each market, and incoming orders have recently exceeded last year’s level. Provided the COVID-19 situation does not deteriorate significantly again, ŠKODA AUTO expects the conditions on the world markets to stabilise gradually over the coming weeks and months. Investments in tangible assets remained at a high level of 261 million euros over the past six months; ŠKODA AUTO continues to invest consistently in the company’s future and development.
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