The Škoda Group, one of Europe's leading manufacturers of public transport vehicles, is set for significant growth in 2024. Operating profit EBITDA, i.e. earnings before interest, taxes, depreciation and amortisation, rose by an impressive 185 per cent year-on-year to CZK 1.55 billion. Revenues remained at the same level as in the previous year, at CZK 34 billion, showing the company's stable financial base despite the economic challenges facing the European market.
The biggest success was securing new orders, whose value increased by 74 percent to CZK 43 billion. As a result, the total volume of orders in the production portfolio rose to a record CZK 85 billion, demonstrating growing customer confidence in the quality and innovation offered by the Škoda Group.
Key contracts include the supply of trams to German cities such as Bonn and Mannheim, as well as orders for trainsets for state railways in Italy and Slovakia.
Vehicle production also grew. Last year, the Škoda Group produced a total of 432 trams, trolleybuses, trains and railcars, an increase of eight percent compared to 2023. This increase is mainly due to the growing demand for sustainable transport solutions that are in line with European emission reduction targets. Flagship projects include the modern ForCity Smart trams and RegioPanter electric trains, which have gained popularity thanks to their energy efficiency and passenger comfort.
According to its management, the company has benefited from consistent investment in new technologies and the expansion of its product portfolio, which has enabled it to penetrate new markets and strengthen its position in sustainable mobility. In total, the group invested CZK 2.2 billion in research and development, up 15 percent on the previous year. These funds were mainly directed towards the development of emission-free propulsion systems, such as hydrogen technology, and the digitisation of production processes, which increases efficiency and reduces costs.
The Škoda Group has also focused on strengthening its global presence. In addition to traditional European markets such as Germany, Italy and the countries of Central Europe, the company has started to penetrate more intensively into Scandinavia and the Baltic States, where there is a growing interest in modernising public transport. Further expansion is planned in Asia, specifically in India and Kazakhstan, where the Škoda Group sees great potential due to rapid urbanisation and the need for new transport systems.
Despite all the successes, the Škoda Group faced challenges. Global supply chains remain volatile and rising prices for raw materials such as steel and aluminium are putting pressure on production costs. However, thanks to its long-term strategy and diversification of suppliers, the company has managed to overcome these challenges without any major impact on its business
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