Škoda Auto sees 66 PCT rise in 2011 operating profits

Škoda Auto makes a strong contribution to the Volkswagen Group bottom line with a 66 pct rise in 2011 operating profits

foto:  © netcarshow.cmČeská pozice

Škoda Auto 2011 financial figures have confirmed it as one of the most profitable and promising parts of the Volkswagen Group.

Škoda Auto operating profit for 2011 rose 66 percent to €743 million compared with 2010’s €447 million figure, Volkswagen revealed in its annual results on Monday.

The Czech car marker had already announced record car deliveries last year of around 879,000 vehicles, up 15.3 percent on the previous year. Deliveries of 147,500 cars in the first two months of 2012 are already up 11.6 percent on 2010, far ahead of the group average increase of  7.7, the German-based group added.

Volkswagen announced record operating profit of €11.3 billion on total car sales of 8.3 million. Company bosses said the group had proved that it could set up production in some of the toughest global business environments and still make profits.

The Škoda plant at Nizhny Novgorod, Russia, where production was launched earlier this year at a former gas plant, was given as an example of how to profit over adversity.