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Škoda Group announces 2023 sales boom

Škoda Group’s 2023 financial results have been headlined by marked increases in revenue, production hours and delivered cars

Škoda Group has reported an 81 per cent year-on-year increase in sales for 2023, however the organisation cited Russian aggression in Ukraine and the continuing impact of Covid-19 for a 57 per cent reduction in earnings before interest, taxes, depreciation and amortisation (EBITDA). 

The increase resulted in the organisation reporting a revenue of $2.241 billion over the year. 

A key component to the inflated revenue was the acquisition of an order to produce up to 200 trams for the Czech city of Prague, and an increased foothold in western markets including the supplying of narrow-gauge trams to Germany. 

Škoda Group is owned by PPF Group, which employs 52,000 people across 25 countries through Europe, North America, Asia and Africa. 

CEO and executive chairman of Škoda Group Petr Novotny says the important changes implemented to the company in the past year has laid a platform for future success. 

“The past year was a period of important changes for Škoda Group, both in the company’s structure and in the organisation of our business activities,” Novotny says. 

“The high investments we have made in our production sites in recent years were reflected last year in an increase in production capacity and performance. 

“In 2023 we delivered 400 vehicles, an increase of 88 per cent compared to the previous year. Production hours are up 16 per cent year-on-year to 5.1 million. 

“A major challenge for the coming years will be to further increase the efficiency of our internal processes.” 

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