Å kodaAuto ANNUAL REPORT 2006 - Skoda Auto

Non-current liabilities were down 4.2%
from the previous year. Contributing to the
decline in non-current liabilities was the
reclassification of certain obligations from
non-current to current financial liabilities
due to a change in the times-to-maturity of
outstanding bonds (60.0% decline year-onyear).
Non-current provisioning, on the
other hand, was up 59.2% due to increased
provisioning for warranty repairs, which is
dependent on the number of vehicles sold.
Current liabilities increased by 14.7%
year-on-year, due primarily to the already
mentioned reclassification of financial
liabilities (+115.4%). Current provisioning,
on the other hand, was down 8.3%
year-on-year.
In 2006, an increase in total spending on
tangible and intangible fixed assets was
CZK 8.4 billion. The overall capital spending
figure was down CZK 0.4 billion (-4.6%)
from 2005, due to the cyclical nature of our
business, as new products enter production.
The largest component in the overall capital
spending figure was new product
expenditures (CZK 5.6 billion) –
in particular for the Škoda Fabia successor
vehicle and the new Škoda Roomster
model line. Spending on upgrading
manufacturing plants and new
infrastructure totalled CZK 787.5 million.
Škoda Auto Group’s asset structure, 2004–2006
(CZK millions)
120,000
100,000
80,000
60,000
40,000
20,000
Škoda Auto Group’s capital structure, 2004–2006
(CZK millions)
120,000
100,000
80,000
60,000
40,000
20,000
0
2004 2005 2006
0
2004 2005 2006
Fixed assets
Liabilities
Current assets
Equity
Net liquidity of Škoda Auto Group, 2004–2006
(CZK millions)
25,000
20,000
15,000
10,000
5,000
0
Profit before/after income tax-to-sales ratio
of Škoda Auto Group, 2004–2006 (%)
8
6
4
2
-5,000
2004 2005 2006
0
2004 2005 2006
Profit before income tax-to-sales ratio
Profit after income tax-to-sales ratio
23