VW Slovakia Achieved Highest-ever Turnover of €11.76 billion Last Year
Volkswagen Slovakia posted a record turnover amounting to €11.76 billion in 2023, company representatives announced at a news conference on Friday.
Bratislava, April 12 (TASR) - Volkswagen (VW) Slovakia posted a record turnover amounting to €11.76 billion in 2023, company representatives announced at a news conference on Friday.
Earnings before taxation grew by 15 percent to stand at €319 million.
A strong investment period continued last year, with the total amount of investments in new projects reaching €423.6 million.
"The 2023 results reflect real dedication among thousands of employees across the whole company, combined with an efficient use of resources, cost-cutting and partial supply-chain stabilisation. We've managed to do all this despite still challenging global conditions. At the same time, we've successfully launched serial production of six new products, for which I sincerely thank the whole team," said chairman of VW Slovakia's board of directors Wolfram Kirchert. According to him, the company is currently focusing on maintaining competitiveness, which is key for securing its production programme and employment in the future.
Thanks to the improving situation in the supply chain and logistics, Volkswagen Slovakia increased the number of cars manufactured by 22.4 percent to 328,927 last year.
The biggest changes occurred when production of the Volkswagen up! and e-up! models along with the compact SUV Skoda Karoq was terminated by the end of last year. They were replaced by new generations of the Volkswagen Passat and Skoda Superb Combi models, which were recently joined by a limousine version of the Skoda Superb. Eight models of four corporate brands are currently being produced in Bratislava. The Martin (Zilina region) plant put out 22,821,903 components for gearboxes and chassis last year.
As the biggest exporter in the country, VW Slovakia exports cars to more than 100 countries worldwide. The biggest regions in terms of turnover are Europe (40 percent), North America (25 percent) and China (20 percent). The company bought materials for car production worth €9.7 billion, of which 26 percent came from local suppliers.
VW Slovakia has put out more than 7 million vehicles in Slovakia since 1991. The company is the biggest private employer in the country and has invested €5.5 billion in Slovakia since it was set up.
