Iveco Bus Czech Republic

William Malcolm

Iveco CR Sees Revenue And Profit Fall In 2020

The bus manufacturer Iveco Czech Republic last year generated a profit after tax of 2.218 billion crowns. That is 528 million crowns less than the year before. Revenues decreased by eight percent to 22.341 billion crowns. The company produced 4,522 buses last year. In 2019, its production reached 4,612 vehicles. Due to the coronavirus pandemic, the Vysoké Mýto plant was closed for more than a month last spring.

The total sales of buses in 2020 was 4870, the year before it was 5258. Last year, most vehicles went to European markets outside Czechia, Slovakia, and Central and Eastern Europe, 3336. Iveco sold 596 buses in the Czech Republic, 231 in Slovakia and Eastern Europe, 364. 343 vehicles were exported outside Europe. Year-on-year, sales increased in the Czech Republic and Slovakia, while they decreased in other territories.

The most common car produced in Vysoké Mýto was the Crossway Low Entry Line. The company manufactures buses in three lengths for city and intercity traffic. There is also a range of Urbanway city buses on offer. In addition to diesel engines, natural gas propulsion is also used in vehicles.

Iveco in Vysoké Mýto is one of the largest employers in the region. The largest factory is Iveco Bus, a brand of the CNH Industrial Group. At the end of 2020, the company had 3,090 employees, 68 more than a year earlier. It also uses agency staff.

In the Czech Republic last year, the market share of the Iveco Bus brand increased by almost 12 percent to a total of 42.8 percent. In Slovakia in 2020, the company registration of buses was the first last year and held a market share of 63.4 percent.

The company’s Board of Directors proposes to the General Meeting that no dividends or royalties be paid last year. The profit, except 37 million crowns in the mandatory allocation to the social fund, should be transferred to the account of retained earnings from previous years. There is a possibility of future economic growth.