CZECH manufacturer Škoda Group achieved significant growth in sales and production volumes in 2023, reporting an 81% year-on-year increase in sales to €1.38bn. Despite this, Ebitda fell by 57% €21.8m, influenced by the lingering effects of the Covid-19 pandemic and the ongoing conflict in Ukraine.

In 2023, Škoda Group delivered 400 vehicles, an 88% increase on the previous year. Production hours were also up by 16% to 5.1 million. CEO and executive chairman, Mr Petr Novotný, says that increased production capacity and performance is the result of recent investment in production sites.

Looking ahead, CFO, Mr Jaroslav Zoch, says the company is aiming to maintain stable levels of new orders and Ebitda, while continuing significant investment in research and development, which totalled over €85m in 2023.

“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,” he says.

The company underwent significant organisational changes in 2023, with Mr Petr Novotný appointed as CEO, and previous CEO, Mr Didier Pfleger, promoted to executive chairman.

A key milestone was winning a Koruna 16bn ($US 700m) contract to produce up to 200 LRVs for Prague. Other notable contracts included sleeping cars and car-carrying wagons for Finland’s VR, metro trains for Sofia, and new light rail vehicles for Kassel. Škoda Group also strengthened its presence in western markets, with substantial orders from Italy, including new sleeping cars, and Germany.