ŠKODA AUTO delivered 186,200 vehicles to customers worldwide in the first quarter (-25.4% compared to the same period last year). At 337 million euros, operating profit was 24.8% below the previous year, while the return on sales reached a solid albeit lower level of 6.6%. The main reasons include the ongoing chip shortage and supply chain disruptions due to the war in Ukraine. The company will therefore be consistently pursuing its NEXT LEVEL EFFICIENCY+ programme over the coming months. The company also expects the supply of parts to improve during the second half of the year.
“We can look back on an extremely challenging first quarter. In addition to the shortage of semiconductors, our supply chains were disrupted, in some cases significantly, due to the war in Ukraine. We have actively countered this and have been able to shore up our operating profit. Looking ahead to the rest of the year, we are consistently pursuing our NEXT LEVEL EFFICIENCY+ cost and efficiency programme to minimise the impact on our finances. As things stand, we expect the supply of parts to improve from the second half of the year onwards.”
Christian Schenk, ŠKODA AUTO Board Member for Finance and IT
“We started the new year optimistically on the strength of our new models, including the FABIA, KAROQ and ENYAQ COUPÉ iV. However, the war in Ukraine has slowed us down considerably. I would like to thank our customers for their patience and continued trust in the ŠKODA brand, as well as our importers and dealers for their great efforts. On a positive note, we have been able to restart the production of our all-electric SUV, the ENYAQ iV. We are doing everything we can to meet the continued strong demand for our models.”
Martin Jahn, ŠKODA AUTO Board Member for Sales and Marketing
The ŠKODA AUTO Group’s* revenue increased slightly to 5.1 billion euros (+1.0% over the previous year) due to consolidation effects. While operating profit fell by 24.8% to 337 million euros, the return on sales reached a solid level of 6.6%. ŠKODA AUTO is addressing the current challenges with its NEXT LEVEL EFFICIENCY+ programme. The overriding and long-term goal is cost leadership among the core European competition and a sustainable return on sales of at least 8%. The programme focuses on maximising earnings potential and optimising material, production and fixed costs. Due to the consolidation of Volkswagen Group Rus under ŠKODA AUTO a.s. since the beginning of the year, the reported indicators cannot be directly compared to the same period last year.
ŠKODA AUTO Group* – Quarterly comparison of key figures, January to March 2022/2021**:
|2022||2021||Change in %|
|Deliveries to customers||cars||186,200||249,600||-25.4%|
|Deliveries to customers excl. China||cars||171,000||223,300||-23.4%|
|Sales revenue||million EUR||5,101||5,049||1.0%|
|Operating profit||million EUR||337||448||-24.8%|
|Return on sales||%||6.6||8.9|
|Investments in tangible assets||million EUR||74||86||-14.0%|
|Net cash flow||million EUR||337||563||-40.1%|
* ŠKODA AUTO Group comprises ŠKODA AUTO a.s, ŠKODA AUTO Slovensko s.r.o., ŠKODA AUTO Deutschland GmbH, ŠKODA AUTO Volkswagen India Private Ltd. and OOO Volkswagen Group Rus.
** Percentage deviations are calculated from non-rounded figures.
*** comprises production in the ŠKODA AUTO Group, excluding production at partner assembly plants in China, Slovakia and Germany, but including other Group brands such as SEAT, VW and AUDI; vehicle production excluding part/complete kits.
**** comprises ŠKODA AUTO Group sales to distribution companies, including other Group brands including SEAT, VW, AUDI, PORSCHE and LAMBORGHINI; vehicle sales excluding part/complete kits.