Škoda’s deliveries, sales revenue and operating profit increased notably in the first quarter of 2014, the automaker said.
Sales revenues grew 23.7% to EUR2.98bn (US$4.14bn), operating profit was up 65.2% to EUR185m and operating margin was 6.2% versus 4.6%.
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An improved model line-up contributed significantly to the operating profit rise, Skoda said.
Unit sales rose 12.1% to 247,200 vehicles in the first quarter.
CEO Winfried Vahland said: “The best first sales quarter in our corporate history and the excellent developments in sales revenue and profit have been the result of a strong team performance and working consistently on renewing our model range.”
CFO Winfried Krause added: “The investments into products over the last few years to renew the model range are now leading to an increase in sales revenue and operating profit.
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By GlobalData“These positive developments prove the company’s strength and will be the financial basis for continuing our model campaign. At the same time, we remain committed to strict cost discipline,” added Krause.
