Škoda Transportation was sold to PPF investment group last year. Now it focuses on improving revenue and market share in current areas. This may mean organic grow as well as acquisitions. New CEO Petr Brzezina said that in interview to Forbes.
“There are plenty calls for tenders now, for many times more vehicles than we can produce. We target to 60 bilion CZK (2,33 bilion EUR) revenue in a single three-year cycle. It is necessary to sign contracts for 20 bilion CZK (778 milion EUR) each year from this year onwards. This is a sum we can grow to organically in two or three years,” Brzezina said. He added that he would like to shorten the production period for vehicles. Apart from the organic grow he would like to focus on acquisitions on the foreign markets.
Revenue of the groups has fallen by one-forth last year to 11,8 bilion CZK (459 milion EUR). Year-to-year net income fallen from 1,5 bilion CZK (58 milion EUR) to 251 milion CZK (9,8 milion EUR). According to Brzezina there are multiple internation tenders on the group’s radar with total price about 320 bilion CZK (12,5 bilion EUR). “We are here to start a new future for Škoda. We would like to have the group stronger, more effective, and of course growing. And we are thinking long-term,” Brzezina said to Forbes.