PRAGUE, March 14 (Xinhua) -- Skoda Auto, the Czech Republic's flagship car manufacturer owned by the Germany-based Volkswagen Group, said on Tuesday that its operating profit fell by 42 percent to 628 million euros (672 million U.S. dollars) in 2022.
In a company report, parent company Volkswagen said that the decline in profit was caused primarily by the ongoing conflict in Ukraine, as well as by higher costs and unfavorable exchange rates.
Last year, Skoda Auto increased its sales by 18.5 percent to 21 billion euros. However, this could not offset the impact from product costs and exchange rates.
According to the report, Skoda Auto delivered 731,000 vehicles to customers around the world in 2022, 16.7 percent less than in 2021.
The report said that the drop in deliveries was due to the ongoing conflict in Ukraine and to supply disruptions, rising energy and raw material costs and global market uncertainty.
Skoda Auto employs 45,000 people worldwide. (1 euro = 1.07 U.S. dollar) ■
