While they will continue to pay in crowns for a year, large companies will start to switch to the euro. The carmaker pushes suppliers to make payments in the European currency. The reason is a strong crown, which has broken records in recent weeks. Hospodsk newspaper informed about it.
“We already trade in euros with koda for eighty percent,” said Petr Krob, CEO of EuWe’s Czech company Eugen Wexler.
The code confirms that it soon wants to trade with all domestic suppliers exclusively in the common European currency.
According to the economic company Holger Kintscher, due to the strengthening of the koruna, the company sold one billion crowns in the first quarter alone. If this trend persists, this year’s profit of the carmaker will be about a billion crowns.
He also had a large company
The euro is far from just a codec. “We pay all raw materials and materials in euros. Even electricity from E.ON. Most of the production will be developed, we have a lot for the euro, ”said Lumr Al Dabagh, CEO of Bene and Lt from Prhonice, to Hospodský noviny.
“But we have to pay wages in korunch, just like tax. On that, we will prolong the MSC, ”adds. Companies are introducing the euro for mutual payments to Brno through export losses caused by a sharp strengthening currency. That faith reached a record level of 23.82 crowns per euro. – tte about gym crown
Strong crown wins gains
If the koruna strengthens at the current pace, the Mladá Boleslav codex will deprive three and a half billion crowns of profit at the end of the year. This estimate is based on billions in losses in the first quarter, with the idea of even stagnating car sales.
“Our sales are growing at a record, but sales in korunch are declining. Compared to the first quarter of last year, the current operating result is burdened by exchange rate effects in the amount of approximately one billion crowns, ”said the economic code Auto Holger Kintscher when recapitulating the results of the first three years of this year.