Škoda Auto further continued to strengthen its positive course during the first half of 2023, despite ongoing market challenges. The Škoda Auto Group’s operating profit climbed to €911 million, marking a year-on-year increase of 34.8%. At the same time, the return on sales remained steady at 6.6%. The carmaker delivered 432,200 vehicles worldwide between January and June, which is 19.9% more than in the same period last year. The demand for the brand’s bestseller, the Octavia (+60.2%), as well as the all-electric Enyaq iV family (+41.0%), saw a substantial increase.
“We’ve proven in the first half of 2023 that Škoda Auto is on a stable growth path, thanks to a robust business model and a tremendous team performance. These results show what we are capable of delivering despite the challenging market environment. We have remained focused on overcoming supply chain issues and the reward now is being able to keep the production lines rolling. As a result, our customers can expect significantly shorter delivery times. Now, we need to remain vigilant and keep up the hard work to maintain this momentum.“
Klaus Zellmer, Škoda Auto CEO
“The results that Škoda Auto has achieved in the first six months of this year demonstrate the company’s exceptional flexibility and financial resilience. Our stable return on sales of 6.6% could have been even higher if it were not for the negative one-off impact due to the closure of the Russian business. Yet, we are on track thanks to our Next Level Efficiency+ programme which we will continue to implement further. It is as an important pillar for achieving sustainable profitability, and I am confident that, together with the team, we can continue following this path of sustainable growth.”
Holger Peters, Škoda Auto CFO
“The first half-year has shown us that, even in a challenging environment, Škoda Auto is capable of achieving solid results. We were able to improve our position on the challenging European market and expanded our market share. The waiting time for our models has decreased significantly, and we can now meet customer demand much faster thanks to the improved supply of components. The success of our all-electric Enyaq iV family gives us every reason to be optimistic about the future. We remain fully committed to providing affordable e-mobility that perfectly fits all our customers’ needs, by further accelerating our e-campaign.”
Martin Jahn, Škoda Auto Board Member for Sales and Marketing
Year-on-year increase of all key financial figures during the first half of 2023
The Škoda Auto Group generated a significant rise in revenue during the first six months of the year, with the metric climbing by 34.5% to €13.7 billion. The return on sales remained at the same level as the previous year, a solid 6.6%. Furthermore, the carmaker was able to significantly increase its operating profit in the first six months of 2023 by 34.8% to €911 million, although the divestment of OOO Volkswagen Group Rus in May 2023 had a strong negative impact on operating profit*. During the period of January to June, the company delivered 432,200 vehicles worldwide, marking a year-on-year increase of 19.9%. Likewise, production surged in the company’s Czech plants, reaching 535,200 vehicles, which is an increase of 79,000 units compared with the first six months of 2022.
Škoda future-proofs its model portfolio
Škoda Auto continues to focus on a strong, electric model portfolio further bolstering its e-campaign. In the coming years, the car manufacturer will introduce six new all-electric models across all segments. The all-electric compact SUV Elroq will be the first one to be presented next year. Škoda has also made significant strides in other fields on its path to e-mobility: The company has already passed the milestone of 500,000 produced battery systems that are mounted in e-vehicles of Škoda, Volkswagen, Audi and Seat, at its Mladá Boleslav main plant. As the transition to e-mobility varies in different markets, Škoda will offer the whole range of drivetrain concepts. This approach allows the Czech car manufacturer to provide its customers with the best of both worlds: a wide BEV portfolio as well as modern and efficient new ICE models. In the second half of 2023, Škoda will unveil new generations of the Superb and Kodiaq, while the upgraded models of the Scala and Kamiq will be presented on 1 August. In doing so, Škoda is picking up speed in the decade of transformation towards CO2-neutral mobility, offering the most diverse portfolio of BEV, PHEV and efficient ICE models to cater to all customer needs and preferences in all markets.
* In May, 2023 Volkswagen Group completed the selling of its assets in OOO Volkswagen Group Rus to OOO Art-Finance, supported by the Russian Dealer Avilon.
Škoda Auto Group1) – Key figures for the first half of the year; January to June 2023/20222)
|Deliveries to customers||cars||432,200||360,500||19.9%|
|Deliveries to customers excl. China||cars||419,400||335,800||24.9%|
|Sales revenue||million EUR||13,748||10,223||34.5%|
|Operating profit||million EUR||911||676||34.8%|
|Return on sales||%||6.6||6.6|
|Investments in tangible assets||million EUR||329||201||63.7%|
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 until May 2023, the Group also included OOO Volkswagen Group Rus, the financial results of which are included until then.
2) Percentage deviations are calculated from non-rounded figures.
3) 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.
4) Comprises Škoda Auto Group sales to distribution companies, including other Group brands such as SEAT, VW, AUDI, PORSCHE and LAMBORGHINI; vehicle sales excluding part/complete kits.
Worldwide deliveries in the first half of the year by selected market region:
|Market region||Deliveries from January to June 2023|
(Deliveries HY1 2022 / change in %)
|Western Europe||236,900 vehicles (180,500 vehicles; +31.3%)|
(largest single market globally)
|77,300 vehicles (63,500 vehicles; +21.8%)|
|Central Europe||92,800 vehicles (69,800 vehicles; +33.0%)|
|43,900 vehicles (35,500 vehicles; +23.8%)|
|Eastern Europe||22,600 vehicles (29,800 vehicles; -24.1%)|
|India||23,800 vehicles (25,900 vehicles; -8.4%)|
|China||12,800 vehicles (24,700 vehicles; -48.1%)|
|Total (Worldwide)||432,200 vehicles (360,500 vehicles; +19.9%)|
Škoda brand deliveries to customers in the first half of 2023
(in units, rounded, listed by model; +/- in percent compared with previous year):
|Škoda Octavia||(97,800; 60.2%)|
|Škoda Kamiq||(58,400; 23.8%)|
|Škoda Kodiaq||(56,200; 11.0%)|
|Škoda Karoq||(52,700; 22.6%)|
|Škoda Fabia||(48,300; 5.3%)|
|Škoda Superb||(34,600; 4.4%)|
|Škoda Enyaq iV||(31,300; 41.0%)|
|Škoda Scala||(28,100; 31.6%)|
|Škoda Kushaq||(12,300; -8.7%)|
|Škoda Slavia||(9,400; -8.4%)|
|Škoda Rapid||(2,900; -76.5%)|