Škoda Group has published its financial results for 2024.
The company, which in 2024 saw an increase of 74% (up to 1.7 billion EUR) in new orders, saw an EBITDA increase of 185% year-on-year to a total of 62 million EUR.
Having produced a total of 432 new vehicles throughout 2024, Škoda also manufactured nearly 3,000 new electric motors, traction units and other key equipment.
Petr Novotný, CEO Škoda Group, said:The year 2024 was very important for Škoda Group. Through investments in new technologies and our product portfolio, we managed to secure the highest volume of new orders, which reached almost EUR 1.7 billion, and our EBITDA operating profit grew by 185% to EUR 62 million.
Our innovative strength is confirmed by battery trains, a smart depot in Tampere, automatic train operation for Latvia and an anti-collision system for trams. Škoda Group thus confirms its role as a leading European innovation centre. Investments in modern technologies and research and development totalling over EUR 87 million have brought tangible results – new markets, key contracts and a stronger position in the field of sustainable mobility.
The company has reported a stable revenue of 1.36 billion EUR throughout the year, with its in-production order backlog portfolio exceeding 3.4 billion EUR overall.
Key contracts for Škoda during 2024 included the production of 15 battery trains for České dráhy, the provision of new electric train units to Bulgaria, the first cooperation on the production of new electric trains with private railway operator RegioJet, option agreements for trams for Brno and Tampere in Finland, and orders for trolleybuses for České Budějovice, Pardubice and Brno.
The group also invested 87 million EUR into research and development during 2024, becoming the first company in the world to produce market-ready battery units with a traction system for 3kV direct current traction.
The company has thus far confirmed stable growth throughout the first quarter of 2025.
Škoda Group CFO Jaroslav Zoch adds:Last year, we stabilised the group's performance and increased its profitability. After the challenging period of recent years, we also focused on improving internal processes, rationalising the cost structure and investing primarily in strengthening and streamlining our production and supply capacities.
We increased production capacity, exceeding 5.2 million production hours, and are now well prepared to fulfil orders worth EUR 3.4 billion.
