Škoda Transportation ups investments in production

(CIANEWS) - According to audited results for 2021, Škoda Transportation’s EBITDA was at the level of CZK 1.06bn (up 178% year on year). Revenue grew by 40.6% to CZK 15.5bn. Net consolidated profit totalled CZK 580m. The manufacturer of mass-transit solutions further said that it had increased investments in production by almost 78% to CZK 1.4bn. Production modernisation and expansion applied to Czech production plants and the Finnish plant in Otanmäki. Investments in research and development amounted to CZK 2.08bn. The group also increased the number of its staff by 800 to more than 6,500. According to Škoda Group CEO Didier Pfleger, the pre-conditions for further growth include the ability to offer customers new technologies and advance in digitalisation.



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