ŠKODA AUTO posts EUR 17.1bn in revenues; to invest EUR 2.5bn

Published: 29.03.2021 Related countries:  Japan Japan

In the 2020 financial year, the ŠKODA brand delivered over a million cars to customers for the seventh time in a row.

This happened despite a 39-day shutdown of production at Czech plants and the extensive closure of sales channels in Europe during the first wave of the pandemic in the spring. ŠKODA AUTO Group revenues amounted to EUR 17.1bn (2019: EUR 19.8bn). Operating profit reached EUR 756m (2019: EUR 1660m). Profitability of sales of 4.4 % remains solid. Fixed costs were reduced by more than EUR 550m in 2020. Over the next five years, ŠKODA AUTO Group will invest approximately EUR 2.5bn in technology. EUR 1.4bn will go to the expansion of electromobility, and the carmaker will spend about EUR 650m on digitization. It will invest approximately EUR 350m in the modernization of plants and production facilities.