Net profit of Škoda Auto 2010-2023

The worldwide net profit of Škoda Auto a.s. increased substantially between 2010 and 2019 by nearly 23 billion Czech koruna. However, in 2020, there was a decline, primarily due to the COVID-19 pandemic and its impacts. In 2021, the net profit increased again, yet in 2022, the net profit decreased once more, reaching the lowest value since 2013. In 2023, net profit significantly recovered, reaching a new all-time high in the recorded period.

Revenue rises, profit drops

Net profit is the amount of money remaining after deducting all the expenses from the company's total revenue. In the past few years, the profitability of Škoda, while still positive, has decreased more than its revenue, which declined only slightly following the start of the COVID-19 pandemic and which was on the rise again in 2022. In 2020, the temporary suspension of production and continuous expenses, among other things, caused a decline in profit.
Despite the increase in net profit in 2021, it retook a significant hit in 2022 after Russia invaded Ukraine. This drop was caused not only by the energy crisis and rising prices that ensued but also by the Škoda's activities from Russia, which included the closure of two production plants. The impacts were apparent as Russia was Škoda's largest market.

Stable sales and assets

Although the worldwide sales of Škoda vehicles also decreased in 2020, it did not go through a similar development to the net profit in 2022, despite the company leaving the Russian market. Škoda tried to substitute this sudden gap in its sales strategy by increasing sales in countries such as India. Sales in 2022 even increased slightly compared to 2020 and 2021. A modest rise could also be observed in the company's assets, even though they have not yet surpassed their pre-pandemic asset value