Toyota Peugeot Citroën Automobile (TPCA) has once again extended its production shutdown due to coronavirus. Production should resume on May 18. “Due to the acceleration of coronavirus in different European countries or regions and its impact on public health, the economy and society, TPCA has decided to extend the suspension period,” TCPA said. Production at […]
Sazka Group, a subsidiary of Karel Komárek’s KKCG, reports 2019 net profits grew 35 percent year-on-year to 311 million euros. Gross revenues increased six percent to 1.91 billion euros. The company saw increased profitability across all markets and grew its stake in OPAP, the biggest Greek betting firm, said Robert Chvátal, CEO of the Sazka […]
Czechoslovak Groups (CSG) 2019 EBITDA grew by 53.7 percent year on year to 2.97 billion crowns. The company’s revenues increased by 21.3 percent to 28.5 billion crowns. “2019 was a very successful year for CSG. Thanks to the growth in our aerospace division, we have transformed into an industrial and technological holding company producing final products […]
Škoda Auto’s operating profit fell by 25.1 percent to 307 million euros in the first quarter. The reason is lower sales volumes, exchange rate developments, and also emissions-related expenses. Revenues fell by two percent in the quarter to 4.8 billion euros (130.5 billion CZK). High demand was for the Scala and Kamiq models. Mladá Boleslav-based […]
KLM will resume its Prague to Amsterdam route in May. The carrier has already notified Prague Airport of its intent to resume operations. According to the carrier’s reservation system, the first flights could be on 4 May. The airport currently handles two scheduled flights per day, Belavia flies from Prague to Minsk and Bulgaria Air […]
Škoda Auto resumed production at its plants in Mladá Boleslav, Kvasiny, and Vrchlabí today. The shut down due to the coronavirus pandemic lasted six weeks. The company will initially run two shifts instead of three. Resumption of production to full capacity will depend on the current situation around coronavirus, customer demands, and supplier options. “We […]
Prague Airport will lay off up to 450 employees due to the coronavirus crisis. The redundancies are scheduled to begin in late May. “Despite all efforts, Prague Airport is unfortunately forced to eliminate some jobs. The immediate reason for the reduction in the number of employees is the devastating impact on air transport caused by […]
European Metals Holdings (EMH) shareholders approved CEZ’s investment in its Czech subsidiary Geomet. CEZ is investing 29.1 million euros to secure a 51% stake in Geomet. The investment will be used to fund the operation of Cinovec lithium mine. Geomet will begin a feasibility study to determine the prospects of the mine and whether mining […]
Škoda Auto is preparing to resume operations in its Czech plants on Monday. The company has implemented dozens of sanitary procedures to prevent the spread of coronavirus. Skoda is providing all employees with one face mask per day, two disinfecting wipes, and there are hand disinfectant dispensers throughout the plants. Employees will be subject to […]