Å kodaAuto ANNUAL REPORT 2006 - Skoda Auto

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MILESTONES IN 2006 January – Škoda Roomster presented to trade journalists and jury of the prestigious automotive competition “CAR OF THE YEAR“ February – World premiere of Škoda Roomster at the Geneva Motorshow – Škoda Auto releases its 2005 financial performance figures March – Series production of Škoda Roomster begins at Kvasiny plant April – Škoda Auto is a general sponsor of the World Ice Hockey Championships in Latvia May – Opening of a new centre for preparing and shipping vehicle assemblies – Volkswagen Group and Škoda Auto sign an agreement on the construction of an assembly plant in Kaluga, Russia June – Company holds an international presentation of the Škoda Roomster for the press in Prague – Škoda Roomster goes on sale July – Celebrations to mark the historic 10,000,000th vehicle produced by Škoda Auto (since 1905). The jubilee vehicle was a Škoda Octavia from the Mladá Boleslav plant – Škoda Auto is general partner of the Tour de France August – 100,000th Škoda Superb produced September – World premiere of the Škoda Octavia Scout 4x4 and the Joyster design study at the Auto Salon Paris – Škoda brand officially launched in the Chinese market October – Healthy Company project launched – Škoda Roomster Scout goes into series production at the Kvasiny plant November – 500,000th Škoda-brand vehicle produced in a year – Cornerstone of a new Škoda Auto Technology Centre laid in Mladá Boleslav – First presentation of Škoda brand at the international motor show in Beijing December – Series production of the Škoda Fabia Hatchback successor begins in Mladá Boleslav plant – Company achieves best sales and earnings performance in its history List of awards won by Škoda brand vehicles in 2006 – 1st place “Car of the Year” for Škoda Roomster in Estonia, Finland and Bulgaria – 1st place “Auto Trophy” in Minivan category for Škoda Roomster – 1st place “Family Car of the Year” for Škoda Roomster in Sweden and Belgium – “Red Dot” design award for Škoda Octavia Combi 6
ŠKODA AUTO GROUP PROFILE Who We Are Škoda Auto Group (the “Group”) is one of the largest corporate groups in the Czech Republic. It consists of the parent company, ŠKODA AUTO a.s. (the “Company”) and its fully consolidated subsidiaries: ŠkodaAuto Deutschland GmbH, ŠKODA AUTO Slovensko, s.r.o., Skoda Auto Polska S.A., Skoda Auto India Private Ltd. and the affiliate OOO VOLKSWAGEN RUS. Škoda Auto Group Structure ŠKODA AUTO a.s. based in Mladá Boleslav, Czech Republic ŠKODA AUTO a.s. The parent company, ŠKODA AUTO a.s., is an originally Czech company with an automotive manufacturing tradition that goes back over a hundred years. It is one of the oldest automotive brands in the world. It is 100% owned by VOLKSWAGEN AG. The Company’s principal businesses are the development, manufacture, export, and sale of Škoda-brand automobiles, components, genuine parts and accessories and the provision of related repair and maintenance services. ŠkodaAuto Deutschland GmbH ŠkodaAuto Deutschland GmbH was established in 1991. It has been a subsidiary of ŠKODA AUTO a.s. since 1995. The company’s principal businesses are the purchase, import, and sale of vehicles, genuine parts and accessories. ŠKODA AUTO Slovensko, s.r.o. ŠKODA AUTO Slovensko, s.r.o. was formed in 1993 as a subsidiary of ŠKODA AUTO a.s. The company’s principal businesses are the purchase, import and sale of vehicles, genuine parts and accessories. Skoda Auto Polska S.A. Skoda Auto Polska S.A. was formed in 1994 and it became a subsidiary of ŠKODA AUTO a.s. in the same year. The company’s principal businesses are the purchase, import and sale of vehicles, genuine parts and accessories. Skoda Auto India Private Ltd. Skoda Auto India Private Ltd. was established in 1999 as subsidiary of ŠKODA AUTO a.s. and its vehicle assembly operations commenced in 2001. The company’s principal businesses are the purchase (including import), manufacture, assembly, sale, and export of vehicles, components, genuine parts, accessories and other goods. OOO VOLKSWAGEN RUS OOO VOLKSWAGEN RUS was formed in May 2006 as a 100% subsidiary of VOLKSWAGEN AG for the purpose of assembling and producing VW and Škoda brand vehicles. In October, ŠKODA AUTO a.s. took a 37.5% stake in the company. Construction of a new assembly plant commenced in late 2006 and the plant is to begin operating in the second half of 2007. ŠkodaAuto Deutschland GmbH based in Weiterstadt, Germany Škoda Auto stake: 100% Skoda Auto India Private Ltd. based in Aurangabad, India Škoda Auto stake: 100% ŠKODA AUTO Slovensko, s.r.o. based in Bratislava, Slovak Republic Škoda Auto stake: 100% OOO VOLKSWAGEN RUS based in Kaluga, Russia Škoda Auto stake: 37.5% Skoda Auto Polska S.A. based in Poznan, Poland Škoda Auto stake: 51% 7
Page 1 and 2: SIMPLY CLEVER MORE ROOM... ŠkodaAu
Page 3 and 4: Even in the dynamic life of an auto
Page 5 and 6: SELECTED DATA AND FINANCIAL FIGURES
Page 7: Another major step was made in May
Page 11 and 12: Where We Stand Since being acquired
Page 13 and 14: From left: Martin Jahn, Harald Luda
Page 15 and 16: Dipl.-Ökonom Fred Kappler (*1958)
Page 17 and 18: REPORT OF THE SUPERVISORY BOARD Dur
Page 19 and 20: FOR GROWTH Our road leads literally
Page 21 and 22: The Czech National Bank increased i
Page 23 and 24: Risk Management System The Škoda A
Page 25 and 26: Non-current liabilities were down 4
Page 27 and 28: Consolidated Balance Sheet (CZK mil
Page 29 and 30: Škoda Auto Deutschland 2006 was a
Page 31 and 32: The New Škoda Fabia Successor The
Page 33 and 34: Purchasing The key criterion of Šk
Page 35 and 36: FOR CHALLENGES To make cars that ar
Page 37 and 38: Vehicle Production For the first ti
Page 39 and 40: Quality Measuring vehicle body part
Page 41 and 42: Czech Republic The overall passenge
Page 43 and 44: Vehicle Customer Deliveries by Mode
Page 45 and 46: FOR LIFE Human beings are always at
Page 47 and 48: Personal Development and Continuing
Page 49 and 50: Sponsorship and Corporate Citizensh
Page 51 and 52: The Environment Škoda Auto has a l
Page 53 and 54: Water consumed and wastewater disch
Page 55 and 56: FOR THE FUTURE Life around us is in
Page 57 and 58: Production and Logistics Human Reso
Page 59 and 60:
AUDITOR’S REPORT ON THE ANNUAL RE
Page 61 and 62:
CONSOLIDATED INCOME STATEMENT FOR T
Page 63 and 64:
CONSOLIDATED STATEMENT OF CHANGES I
Page 65 and 66:
NOTES TO THE CONSOLIDATED FINANCIAL
Page 67 and 68:
1.3 Details of the Group In additio
Page 69 and 70:
1.6 Intangible assets Purchased int
Page 71 and 72:
(d) Available-for-sale financial as
Page 73 and 74:
1.11 Deferred income tax Deferred i
Page 75 and 76:
1.16 Revenue and expense recognitio
Page 77 and 78:
1.21 Financial risk management The
Page 79 and 80:
Goodwill Capitalised Capitalised Ot
Page 81 and 82:
5. Investments in associates The Co
Page 83 and 84:
10. Share capital The subscribed ca
Page 85 and 86:
Interests and principal of bonds ar
Page 87 and 88:
15. Deferred tax liabilities and as
Page 89 and 90:
17. Cash flow statement The cash an
Page 91 and 92:
Reconciliation of expected to effec
Page 93 and 94:
27. Related party transactions Rela
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Receivables from related parties (C
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28. Other information (CZK million)
Page 99 and 100:
INCOME STATEMENT FOR THE YEAR ENDED
Page 101 and 102:
STATEMENT OF CHANGES IN EQUITY FOR
Page 103 and 104:
NOTES TO THE FINANCIAL STATEMENTS 2
Page 105 and 106:
1.3 Foreign currency translation Fu
Page 107 and 108:
(c) Held-to-maturity investments He
Page 109 and 110:
1.9 Deferred income tax Deferred in
Page 111 and 112:
1.14 Revenue and expense recognitio
Page 113 and 114:
Hedging of foreign currency risks R
Page 115 and 116:
4. Property, plant and equipment (C
Page 117 and 118:
Derivative financial instruments Th
Page 119 and 120:
13. Non-current and current financi
Page 121 and 122:
15. Other non-current and current l
Page 123 and 124:
Non-current and current provisions
Page 125 and 126:
23. Income tax (CZK million) 2006 2
Page 127 and 128:
28. Related party transactions Rela
Page 129 and 130:
Receivables from related parties (C
Page 131 and 132:
29. Other information (CZK million)
Page 133 and 134:
2. Purchase of goods and services a
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Other legal acts In the accounting
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GLOSSARY OF TERMS AND ABBREVIATIONS
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PERSONS RESPONSIBLE FOR THE ANNUAL
Page 141 and 142:
Financial Figures At a Glance, Acco
Page 143 and 144:
EVENTS ANTICIPATED IN 2007 January
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