Majority of Czech industry companies made profit in 2020, according to survey

The majority of Czech companies active in the industry sector will end their 2020 fiscal in profit, according to a January survey of 162 firms conducted by the Confederation of Industry of the Czech Republic.

A total of 45 percent of companies will have either reached, or exceeded their original profit margins. Meanwhile, 37 percent of related companies said that their profits for 2020 will be below expectations. Just 12 percent of industry businesses did not make a profit last year, or experienced an overall loss in their revenue.

According to the survey, the coronavirus crisis had the most significant impact on the automobile industry, where 63 percent of related companies recorded their profits to be lower than initially planned. The largest share of companies that recorded a loss last year came from the glass and machinery sector.

Author: Tom McEnchroe