Škoda Group published its financial results for 2023

Growth in sales and production volumes – these are the results achieved by Škoda Group in 2023. The group reported a year-on-year increase in sales of 81% to EUR 1.382 billion.

EBITDA fell by 57% year-on-year to EUR 21.8 million, with the impact of the COVID-19 disease pandemic and Russian aggression in Ukraine also contributing to the decline.

Last year, the group managed to conclude several important orders and significantly increased the number of production hours and vehicles delivered.

“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. 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% compared to the previous year. Production hours are up 16% year-on-year to 5.1 million. A major challenge for the coming years will be to further increase the efficiency of internal processes” – Petr Novotný, CEO and Executive Chairman of the Board of Directors of Škoda Group.

Accordig to Jaroslav Zoch, CFO of the Škoda Group, the company plans to continue investing in research and development. Škoda invested in R&D over EUR 85 million last year. “Technology is evolving at a tremendous pace and if we want to stay at the forefront of the business, we need to be able to offer our partners modern solutions”, said Jaroslav Zoch.

Škoda Group underwent a major organisational change at the end of 2023

Petr Novotný was appointed CEO of Škoda Group, followed by other changes in the group’s structure.

The most significant milestone of 2023 was the winning of an order to produce up to 200 trams for Prague worth over CZK 16 billion (EUR 650 million).

However, the production of night trains for the Finnish carrier VR, the contract for the delivery of a metro trainsets to Sofia in Bulgaria and new trams for Kassel also represent significant new business wins.

Škoda Group has also established a strong presence in western markets. For example, in the Italian market, the group is currently working on orders worth more than EUR 250 million, and in Germany it is now a key supplier of narrow-gauge trams.

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