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Tatra could revive its car-building arm and launch a line of modern classics
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History, Tatra Works
Tatraplan may return
Tatra and other Czech firms grow hedges to offset impact of crown cap removal
By Jason Hovet | PRAGUE
Truckmaker Tatra, along with other Czech companies, has decided the time is right to protect its export revenues from the prospect of a stronger crown from next year.
Tatra’s hedging has been prompted by a shift in forward prices as investors bet the crown EURCZK= will gain when the Czech National Bank (CNB) frees it from a currency peg imposed during 2013 to fight deflation.
The central bank is guiding the market towards a mid-2017 exit, as Czech growth nears 3 percent and inflation is forecast to return to a 2 percent target next year.
The cap has provided companies with a free exchange rate hedge and, according to the Exporters Association, earned them 580 billion crowns ($22.81 billion) in extra revenue.
But analysts and companies expect the removal of the peg, which knocked the crown by as much as 7 percent when it was set, will cause the currency to jump, hitting firms in an economy where exports are equal to 85 percent of gross domestic product.
“We are looking to hedge mainly in 2018 and 2019. I started with 2018 and now I would like to catch some forwards for 2019,” Tatra’s Chief Financial Officer Radek Strouhal said.
Hedging is just one way exporters are readying for the new era. Many are looking for procurement contracts in euros, leaving them to worry only about paying wages in crowns. Others are taking loans in euros to benefit from a rise in the crown.
Tatra has done both, Strouhal said, and started hedging due to the shift in forward prices, initially covering about 300,000 euros per month in contracts, a fifth of what it needs.
The 1-year implied crown rate was at 26.72 per euro on Monday, up from 26.93 in August and a spot rate of 27.04. It firmed to as much as 26.54 in October. EURCZK1YV= EURCZK1Y=
WAKE UP CALL
Foreign exchange trading desks say hedging activity has risen since October, with the drop in the rate companies can hedge at a “wake-up call” for some.
Six of seven dealing desks contacted by Reuters said hedging interest was rising, although no data is available. Activity should also grow more in the first quarter as the central bank has pledged not to remove the cap before then.
Most firms stopped hedging when the crown firmed to 27 against the euro at the end of 2015. Exports hedged for a year fell to 25 percent in the second and third quarters, a CNB survey showed, from close to 40 percent previously.
The trend is turning, leaving scope for a significant pick-up as exporters’ annual revenue is about 120 billion euros.
That could add to rising speculative crown flow that has led the central bank to buy billions of euros a month from spot markets. Foreign reserves have grown to $85.9 billion, or 45 percent of GDP, from 21 percent in 2012, and are bigger than Canada’s reserves of $83.1 billion.
Most analysts expect the regime will be over by the end of 2017, even with the risk an extension of the European Central Bank’s bond-buying delaying the exit.
There is uncertainty, though, over how much and how quickly the crown will gain. A Reuters FX poll on Dec. 1 saw the crown at 26.27 versus the euro in one year.
The Exporters Association sees the crown returning to pre-intervention levels, of 25.50-25.80 per euro.
If investors pile into the crown now, the initial jump may not be big. But analysts see the currency as undervalued by about 5-10 percent given economic growth and trade surpluses.
To be ready, a fifth of companies now use supplier or customer contracts in euros, up from 14 percent three years ago, a CNB and Industry Confederation survey showed.
Karel Havlicek, head of Sindat group and chairman of the small- and medium-sized business association AMSP, said firms must prepare at least six months before the cap exit.
Sindat, a group of bio- and nanotechnology firms with sales of 20 million euros, naturally hedges four-fifths of revenue through its contracts. On markets, it is hedging about 2.5 million euros to be ready for a cap exit it expects in mid-2017.
“Natural hedging is the best solution,” Havlicek said.
A quarter of company loans are now in euros, versus 20 percent a year ago, CNB data shows, with DEK, an importer and building materials distributor, one example of a firm financing investments in the European currency.
“It is a good long-run bet,” finance director, Jan Bolek, said.
For a graphic showing interventions in Czech crown, click here
(Editing by Alexander Smith)
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Tatra Works
Tatra chosen as most traditional Czech brand.
Czech brand: Success has Kofola, Tatra and Favorit
Among the Czech brands are etched in the memory of most Kofola, Tatra is the most traditional and most proud we Favorit.
According to a study Czech brand in 2016,which implements the association Czech Top 100 in cooperation with the research agency GfK, he took the last 12 months Czech Kofola brand most consumers. It is in their memory enrolled especially its positive marketing communications. Behind her were placed Skoda Air Bank, Czech Savings Bank and T-Mobile. The top ten also appeared FIO Bank, CEZ, Moneta Money Bank, Klasa and Alza. Results are based on a representative survey on a sample of 1,000 respondents of the online population older than 15 years.
| Czech brand that most impressed in last 12 months | |
| First | Kofola Československý |
| Second | Skoda car |
| Third | Air Bank |
| 4th | Czech savings Bank |
| 5th | T-Mobile CR |
Most traditional Czech brand Tatra by the respondents. Other places occupied Čedok brand, Hame, KMV and Favorit.
| Traditional Czech brand | |
| First | Tatra Trucks |
| Second | Čedok |
| Third | Hame |
| 4th | Carlsbad Mineral Water |
| 5th | Favorit Czechoslovakia |
Favorit is also brand, which people are most proud of. Second place in this category was awarded Čedok. The third ranked company Dermatol. The top five also figure Tatra and mineral water.
| Brand, which the Czechs are most proud | |
| First | Favorit Czechoslovakia |
| Second | Čedok |
| Third | Dermatol |
| 4th | Tatra Trucks |
| 5th | Carlsbad Mineral Water |
“Project Czech brand for the first time maps Czech brand at the time, češství’, origin and return to the roots growing in importance. And thanks to these aspects, Czechs are increasingly aware of their wealth and are proud for him. Some traditional companies that for some time even disappeared from the viewfinder Czechs enter again in full glory on the market with known, trusted and quality products that we often accompanies since our childhood, “says Lenka Harmon, Sector Leader Consumer Goods GfK .
Original page: https://www.mediaguru.cz/2016/11/ceska-znacka-uspech-ma-kofola-tatra-a-favorit/
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History, Tatra Works
Tatra and the Czech army
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Tatra Works
Tatra museum collection spread over two buildings?
“We support the idea that in Koprivnice Tatra was two museums, each with a specific focus,” says TATRA TRUCKS shareholder and owner of the holding company PROMET GROUP René Matera.
Representatives of TATRA TRUCKS, MSR, Novojičínsko Museum, City of Koprivnica and the National Technical Museum recently signed a memorandum on cooperation in the preservation and popularization of technical monuments and industrial history of the Moravian-Silesian region. The memorandum confirms the intention, the parallel between the two museums with an exhibition Tatras. “This is not just about Tatra, but also about the development of tourism in the Moravian region because of its rich industrial history,” says René Matera.
Memorandum welcomes the mayor Kopřivnice Miroslav Kopečný who signed the memorandum for the city. “Kopřivnice is proud to be the seat of one of the world’s oldest automakers. Museum exhibitions, which essentially map out the history of the automobile from the late 19th century, makes our city an attractive tourist destination and internationally, “says Mayor Koprivnice.
The existence of two major exhibitions side by side allows large amounts of Tatra veterans that are available to shareholders by investing in the acquisition of new exhibits and private collections throughout. Radek Strouhal, TATRA TRUCKS Vice Chairman and CFO Enterprise, says: “In 2015 we invested in the purchase of a large private collection of Mr. George Hlacha, which includes 63 vehicles, 45 of the Tatras. Another valuable catch a Tatra 815 6×6 VE, sharp-II ‘, a special for the Dakar 1986, which we obtained from a private owner in exchange for a new Tatra Phoenix. “Given the filled capacity of the existing Technical Museum in Koprivnice is not currently where these valuable exhibits exhibit.
Implementation of the project of the new museum Tatras is dependent on funding from subsidies from European funds applied for by the Moravian-Silesian region. Information about whether a grant application was successful, should be known in early 2017.
About TATRA TRUCKS Inc.
TATRA TRUCKS took over in 2013, the world-famous Tatra, and after the change in ownership structure underwent a successful restructuring. In addition to the standard model series produced by special trucks tailored to client requirements. Eighty percent of automobile production is intended for export. TRUCKS TATRA automaker employs 1,300 permanent employees and more than 600 works in a subsidiary Tatra METALURGIE focused mainly on foundry and forging. TATRA TRUCKS turnover for 2015 was CZK 3.7 billion, profit before tax was 400 million CZK
“We support the idea that in Koprivnice Tatra was two museums, each with a specific focus,” says TATRA TRUCKS shareholder and owner of the holding company PROMET GROUP René Matera.
Representatives of TATRA TRUCKS, MSR, Novojičínsko Museum, City of Koprivnica and the National Technical Museum recently signed a memorandum on cooperation in the preservation and popularization of technical monuments and industrial history of the Moravian-Silesian region. The memorandum confirms the intention, the parallel between the two museums with an exhibition Tatras. “This is not just about Tatra, but also about the development of tourism in the Moravian region because of its rich industrial history,” says René Matera.
Memorandum welcomes the mayor Kopřivnice Miroslav Kopečný who signed the memorandum for the city. “Kopřivnice is proud to be the seat of one of the world’s oldest automakers. Museum exhibitions, which essentially map out the history of the automobile from the late 19th century, makes our city an attractive tourist destination and internationally, “says Mayor Koprivnice.
The existence of two major exhibitions side by side allows large amounts of Tatra veterans that are available to shareholders by investing in the acquisition of new exhibits and private collections throughout. Radek Strouhal, TATRA TRUCKS Vice Chairman and CFO Enterprise, says: “In 2015 we invested in the purchase of a large private collection of Mr. George Hlacha, which includes 63 vehicles, 45 of the Tatras. Another valuable catch a Tatra 815 6×6 VE, sharp-II ‘, a special for the Dakar 1986, which we obtained from a private owner in exchange for a new Tatra Phoenix. “Given the filled capacity of the existing Technical Museum in Koprivnice is not currently where these valuable exhibits exhibit.
Implementation of the project of the new museum Tatras is dependent on funding from subsidies from European funds applied for by the Moravian-Silesian region. Information about whether a grant application was successful, should be known in early 2017.
About TATRA TRUCKS Inc.
TATRA TRUCKS took over in 2013, the world-famous Tatra, and after the change in ownership structure underwent a successful restructuring. In addition to the standard model series produced by special trucks tailored to client requirements. Eighty percent of automobile production is intended for export. TRUCKS TATRA automaker employs 1,300 permanent employees and more than 600 works in a subsidiary Tatra METALURGIE focused mainly on foundry and forging. TATRA TRUCKS turnover for 2015 was CZK 3.7 billion, profit before tax was 400 million CZK
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Museums, Tatra Works
Tatra expects to build 1200 trucks in 2016; A production increase to 1700 units is expected for 2017
Kopřivnice (Novojičínsko) – Truckmaker Tatra produced in the first three quarters of this year 876 vehicles. It was about 26 trucks more than the complete last year.
“We are poised to meet the 1300 production target vehicles. Next year, our ambitions have been significantly higher: The plan is to produce and sell 1,700 vehicles,” said CEO Tatra Trucks Martin Bednarz.
More than 1,000 tracks per year produced the Tatra last time in 2008. “Due to increased production cadence drove the company into two, in some plants on three shifts. The increased production volume had to adapt and subcontractors,” said Martinek.
Since the beginning of Tatra adopted more than 310 new employees. Total now has over 1,300 permanent staff. In recent weeks, the truckbuilder states filled through an extensive recruitment campaign and was now looking for individuals only.
Bendarz said that the average wage at Tatra exceeds CZK 30,000 gross per month. “Tatra addition to famous brands and interesting work on the unique utility vehicles offers candidates several technical professions wages above the average of the Region. Therefore, he, despite the general lack of technically educated workforce able to obtain the necessary personnel,” said the CEO. He added that Tatra also invested in production, particularly in machine technology, painting and workplaces diagnostics, and gradually improves appearance of an area where communication and corrects the building.
Tatra reached in 2015 net profit of 390 million kroner (about one-third higher than in 2014) and sales to 3.7 billion crowns. Tatra Trucks, who carmaker owns, among Czech entrepreneurs Jaroslav Strnad and Rene Matera. Tatra won in 2013 at an auction where she was due to debts. Since then, the truckmaker improved.
Production of Tatra trucks since 1988
| Year | Built trucks |
| 1988 | 15315 |
| 1989 | 15326 |
| 1990 | 14620 |
| 1991 | 9785 |
| 1992 | 4113 |
| 1993 | 2950 |
| 1994 | 1358 |
| 1995 | 1837 |
| 1996 | 1804 |
| 1997 | 2592 |
| 1998 | 1473 |
| 1999 | 1209 |
| 2000 | 1686 |
| 2001 | 1551 |
| 2002 | 1761 |
| 2003 | 1439 |
| 2004 | 1654 |
| 2005 | 1497 |
| 2006 | 1511 |
| 2007 | 2431 |
| 2008 | 2252 |
| 2009 | 808 |
| 2010 | 931 |
| 2011 | 702 |
| 2012 | 496 |
| 2013 | 763 |
| 2014 | 821 |
| 2015 | 850 |
Source: Tatra Trucks
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Press, Tatra Works
Tatra Metallurgy joins forces with Slovak metallurgy plant in Dubnica nad Váhom.
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Tatra Works
Czechoslovak Chief of Staff visits Tatra
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Press, Tatra Works
Indonesia orders RM-70 rocket launchers and T 815s
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Tatra Works