Money Buzz! Europa

Category: Prague

  • Czech Smartwings to cut around 600 jobs

    Czech Smartwings to cut around 600 jobs

    Smartwings Group announced to the Labour Office of the Czech Republic its intention of collective redundancies.

    Depending on the development of the situation, the reduction in the number of staff could affect up to 600 employees of the Smartwings Group.

    The jobs affected include pilots, flight attendants and members of the operational and administrative non-aviation business department.

    The decision on the first organizational change was discussed with representatives of trade unions and concerns 29 employees.

    The termination of employment of redundant employees within the framework of collective redundancies should appear gradually from July 2020 to February 2021.

    At the same time, Czech Airlines and Smartwings will allow employees affected by the organisational change to switch to unpaid leave of absence status for up to one year.

    The redundancy process will follow the provisions of the Czech Labour Code.

  • New infotainment systems are being introduced into Skoda’s flagship cars

    New infotainment systems are being introduced into Skoda’s flagship cars

    New infotainment systems are being introduced into Skoda’s flagship Superb as well as its Karoq and Kodiaq SUVs for the start of the 2021 model year.

    They are based on Volkswagen Group’s third-generation modular infotainment matrix and offer not only the Laura digital voice assistant, but an array of online features too – including Internet radio and wireless SmartLink technology.

    Online personalisation means more custom vehicle settings than ever can now be stored in the Skoda Connect account and even transferred to other Skodas.

    Modern USB-C sockets are replacing the familiar USB-A ports, and a USB-C above the rear-view mirror is optional.

    The range of infotainment functions in the Skoda Scala and Kamiq compact models is also being expanded and upgraded accordingly.

  • Czechs plan to spend less in shopping centers than before Covid-19

    Czechs plan to spend less in shopping centers than before Covid-19

    Ipsos Research results suggest that a decrease in shopping centre traffic can be expected in Czechia.

    Before the pandemic, two-thirds of the population visited shopping centers at least once every 14 days, most often people from large cities with more than 100,000 inhabitants. 

    However, 24% of visitors now plan to visit shopping centres less frequently or not at all. Only 5% are planning more frequent visits, especially regular visitors.

    A decrease in spending in shopping centres can also be expected

    Before the pandemic, the normal spend per visit was between CZK 500 and CZK 2.000. 

    A quarter of visitors (24%) says that it will now spend less money in shopping centres, only 3% plan to spend more.

    Women and young people under 35 want to spend less.

    7 out of 10 Czechs are not worried about visiting shopping centres

    For greater sense of security, visitors would welcome more disinfection, checking compliance with hygiene regulations and limiting more people.

    The concern of a part of the population is also confirmed by a significant increase in the number of visitors preferring to transport to the shopping centre by own car (63%, before the pandemic it was 51%) at the expense of public transport.

    In early June, 42% of people restricted public transport due to fears of contagion, while 64% tried to avoid places with higher concentrations of people.

  • Smartwings Group resumes operations to 25 more destinations

    Smartwings Group resumes operations to 25 more destinations

    Airlines of the Smartwings Group, Smartwings and Czech Airlines, are resuming flights to 25 additional destinations in July.

    In the first week of July, Smartwings will re-launch regular scheduled flights from Prague to seven Greek destinations: Heraklion, Kavala, Kefalonia, Corfu, Kos, Preveza, Rhodes and Zakynthos.

    It will include four Spanish destinations: Malaga, Mallorca, Tenerife and Valencia, to Cagliari in Italy and Burgas and Varna in Bulgaria.

    In the second half of July, Smartwings will also add flights to Gran Canaria, Fuerteventura and Madeira. 

    Smartwings has been operating flights to Split, Croatia, on a daily basis since 25 June 2020.

    In the first week of July, scheduled flights will also resume from regional airports

    Brno will offer connections to Rhodes, Zakynthos, Corfu, Kos, Heraklion and Burgas, while Ostrava will handle flights to Heraklion and Burgas.

    In the first week of July, Czech Airlines will resume flights to Odessa, Rome, Barcelona, ​​Gothenburg, Madrid and Helsinki. 

    The carrier’s flights to Amsterdam, Frankfurt, Paris, Stockholm, Bucharest, Košice, Budapest, Keflavik and Kyiv were re-launched in May and June 2020.

    On 25 June 2020, a new route was launched to London’s largest airport, Heathrow, which is now operated daily. 

    Flights to Copenhagen will resume on 24 July 2020.

  • Barclays to hire two hundred new employees in the Czech Republic

    Barclays to hire two hundred new employees in the Czech Republic

    Barclays plans to employ approximately two hundred people, particularly specialists in the areas of software development, project management and risk and business analysis.

    Barclays had 550 employees in the Czech Republic at the beginning of 2020.

    The initial staff increase occurred this year following the expiration of the company’s contract with the service provider EPAM, whose 250 employees transferred directly to Barclays upon mutual agreement.

    Barclays operations in Czechia include a major technology centre, which currently employs more than eight hundred developers in the centre of Prague.

  • Sharry appointed as technology partner for One Vanderbilt in NYC

    Sharry appointed as technology partner for One Vanderbilt in NYC

    SL Green Realty Corp has appointed Sharry to be a technology partner for the One Vanderbilt project scheduled to be opened in September 2020 in midtown Manhattan.

    Sharry is a Czech company and pioneer in the newly emerging market of PropTech (property & technology).

    One Vanderbilt will be the epitome of the twenty-first century workplace. Developed by SL Green Corp., the 1,401-foot-tall (427 m) commercial office building will be the 5th tallest building in the U.S. TD Bank is signed on as the anchor tenant of the 1.7-million-square-foot property, which is due to open in September of 2020.

    All users and tenants will be equipped with smart and mobile products delivered by Sharry.

    What innovations by Sharry improve One Vanderbilt experience? 

    The company brings in a new set of smart features integrated to the building; mobile access allowing workers to open doors or turnstiles just with their smartphones.

    If the workers drive, a smart camera link recognises their license plate and opens the gates. Parking management ensures maximal utilisation of parking spots.

    All users can take advantage of a tenant engagement platform for sharing important building-related news, chatting with other users, or booking shared amenities.

    Visitors to buildings where software from Sharry is installed can also expect the utmost in convenience.

    Global Innovation Centre

    Along with One Vanderbilt, Sharry is completing the implementation of its smart tools ecosystem in several other office buildings on the East coast of the USA.

    “We always wanted our software to be in the best buildings in every city to which we expanded. And New York was our dream destination. I am very proud of our entire team that we can work together here on the iconic building One Vanderbilt will soon be,” adds Josef Šachta, CEO and co-founder of Sharry.

  • Škoda Auto at three million EA211 engines manufactured

    Škoda Auto at three million EA211 engines manufactured

    • Škoda Auto has manufactured its three millionth EA211 engine at its main plant in Mladá Boleslav.
    • The first EA211 rolled off the production line in 2012.
    • Around 800 workers currently build three- and four-cylinder variants with capacities ranging between 1.0 and 1.6 l.

    These are installed both in the company’s own vehicles and other Volkswagen Group brand models. The company manufactured its first engine back in 1899.

    Due to comprehensive measures in place to prevent the spread of Coronavirus, Škoda is currently only creating 1,900 units per day at its Mladá Boleslav factory instead of the usual 2,400.

    Škoda’s portfolio of EA211 engines

    Škoda’s portfolio of three-cylinders comprises the 1.0 MPI delivering 44 kW (60 PS) or 55 kW (75 PS), the 59-kW (80-PS) 1.0 MPI EVO and the 1.0 TSI, which is available with power outputs of 70 kW (95 PS), 81 kW (110 PS) or 85 kW (115 PS).

    Four-cylinder variants of the EA211 include the 1.4 TSI offering 94 kW (128 PS) or 110 kW (150 PS) and the 1.6 MPI, which delivers 81 kW (110 PS).

    The engines are fitted in 13 models made by various Volkswagen Group brands worldwide: in addition to the ŠKODA FABIA, SCALA, OCTAVIA, KAMIQ, KAROQ and KODIAQ, these include the Volkswagen POLO, VENTO and AMEO as well as the Seat IBIZA, ATECA, TOLEDO and ARONA.

    First engine, born in Mladá Boleslav back in 1899

    Engine production in Mladá Boleslav dates back 121 years. Just four years after they had begun manufacturing bicycles there in 1895, Václav Laurin and Václav Klement presented their first bicycle to feature an auxiliary engine – a single-cylinder offering 1.25 or 1.75 PS.

    In 1905, the company Laurin & Klement developed the Voiturette A, its first automobile featuring a water-cooled 7-PS engine and a cylinder capacity of 1,100 cc.

    Milestones for EA211 production in Mladá Boleslav 

    • 2012: EA211 production begins with the 1.0 MPI;
    • 2014: Production of the 1.4 TSI and 1.6 MPI begins 2015: Production milestone reached: 500,000th EA211 built;
    • 2016: Production of the 1.0 TSI begins and production milestone reached: Škoda Auto manufactures its 1,000,000th EA211;
    • 2018: Production of the 1.0 MPI EVO begins;
    • 2019: Škoda Auto manufactures its 2,500,000th EA211;
    • 2020: Škoda Auto manufactures its 3,000,000th EA211.
  • Sharry launches touch-free elevator system for COVID-safe buildings

    Sharry launches touch-free elevator system for COVID-safe buildings

    Sharry, a Czech company, has developed a special solution for touch-free elevator control. This innovation contributes to countering the spread of COVID-19 and other diseases.

    Ondřej Langr, Sharry’s product manager, describes how this product works: “When a person passes through turnstiles on the ground floor, our system automatically calls an elevator set to stop on the floor where they work. If they miss the elevator or want to go to a different floor, they can simply use their mobile phone to choose the floor number”.

    ”Users can thus control the elevator from their mobile phones and avoid using its buttons, which in normal operation are touched several times a day by virtually every employee and visitor to the building. “We are developing this new technology in cooperation with major elevator suppliers and based on the requirements of our customers all over the world,” adds Ondřej Langr.

    The touch-free elevator system works uses special sensors – Bluetooth low energy beacons – located by the elevators.

    This proximity device runs on a single battery for up to four years and broadcasts its identifier to nearby portable electronic devices such as smartphones or smart watches.

    “When a user approaches the elevator beacon, the system automatically sends a push notification to their phone’s display, through which they can call the elevator. Their ‘favourite floors’ that they visit most often will be displayed, or they can choose a different one,” says the Sharry product manager.

    The new touch-free elevator feature is fully integrated with Sharry’s mobile access system.

    This feature will be available in Q3/2020 in the Sharry Workplace product line, and will be available for the Apple Watch in Q4/2020.

    “The world has changed. We must prepare for the fact that even after the coronavirus pandemic subsides, efforts will continue to eliminate contact with other people and things as much as possible. The future is touch-free. But touch-free elevator control is no science fiction, it’s already here,” points out Josef Šachta, Sharry’s CEO.

  • Škoda remains the most attractive employer in Czechia

    Škoda remains the most attractive employer in Czechia

    Škoda Auto won the first prize in Randstad Employer Brand Research 2020, based on an independent survey of 4.724 respondents. It is the second year in a row the car manufacturer has won first place.

    The 150 largest private companies in the country were rated by the general public on attributes such as attractiveness, employer reputation, career advancement opportunities, attractive salary and benefits, workplace atmosphere, and interesting job content. 

    TOP 10 most attractive employers in the Czech Republic in 2020

    1. ŠKODA AUTO
    2. Microsoft
    3. Kofola
    4. IBM
    5. LEGO Production
    6. Seznam.cz
    7. Siemens
    8. Avast
    9. ČEZ
    10. Nestlé
  • EPH achieved record results in 2019

    EPH achieved record results in 2019

    EPH sales reached EUR 8.6 billion last year (compared to EUR 7 billion in 2018) and adjusted EBITDA totalled EUR 2.1 billion (compared to EUR 1.9 billion in 2018).

    The total consolidated net debt ratioâ was 2.4 times EBITDA (compared to 2.6 times EBITDA in 2018).

    The group’s strong performance, resulting from the high share of regulated and long-term contracted infrastructure assets of the group complemented by long-term contracted biomass plants in the UK and Italy, gas-fired plants with secured capacity payments mainly in the UK, and high conversion of group EBITDA into cash flow, contributed to low level of consolidated debt.

    In 2019, EPH benefited from the completed Lynemouth biomass plant (the conversion was completed in 2018) as well as positive development in relevant markets especially in relation to a significant increase in the volume of transported gas.

    Furthermore, the group managed to reduce the share of electricity manufactured from coal to less than 21% compared to less than 33% in 2018 and compared to more than 62% in 2015, despite the overall increase in produced electricity.

    The above-mentioned results do not include performance of assets that are under joint control, which, according to the international financial reporting standards (IFRS), are not reflected in the consolidated figures (these include namely our shares in LEAG and Slovenské elektrárně).

    In terms of operational indicators in 2019, companies under EPH transmitted more than 69 bcm and distributed almost 5 bcm of natural gas, distributed more than 6 TWh of electricity, delivered over 26 PJ of heat, and used almost all of their natural gas storage capacity of 61 TWh.

    Power plants operated by EPH produced 100 TWh of electricity last year, ranking EPH as the seventh largest European electricity producer.

  • Bonami opens its first offline store and offers free 365 day returns

    Bonami opens its first offline store and offers free 365 day returns

    Bonami opened its first physical store in the shopping area of ​​Černý Most, in Prague. The space will change its assortment depending on the season and the ongoing online campaigns.

    In an area of ​​approximately 200 m2, there is a selection of accessories, lighting fixtures, as well as furniture, from brands such as: Bloomingville, Be Pure Home, PT LIVING, Karlsson or furniture from Karup, Actona, La Forma and Rowico.

    During the purchase, in order to simplify the ordering procedure, customers will have tablets available.

    By scanning the QR code of the selected product, they display all available information as well as related items.

    The store shares a common space with the Czech reseller of beds and mattresses, ProSpánek.

    Bonami plans to open other stores, both in the Czech Republic and in other markets where the company is present.

    Free return for one year

    In order to meet the needs of its customers, in a difficult period, Bonami implements a completely free return policy, for 365 days, to any product ordered, both small and oversized.

  • AERO Vodochody changes owner after thirteen years

    AERO Vodochody changes owner after thirteen years

    The group of companies into which AERO Vodochody belongs, has been bought from the Penta Group by AERO Investment Partners Zrt, a company registered in Hungary.

    This is a joint venture between a Czech company AERO International, part of the Omnipol group and a renowned businessman from Hungary.

    The Omnipol group will be responsible for management of the new company.

    András Tombor owns the majority of 51% of the shares of AERO Investment Partners Zrt

    The majority of 51% of the shares of AERO Investment Partners Zrt. is owned by Hungarian businessman András Tombor with the remaining 49% of the shares being owned by the Czech company AERO International s.r.o.

    The minority owner, AERO International s.r.o., is in the hands of Richard Háva and his family, which owns the Omnipol Group.

    The Omnipol Group will be responsible for the day to day management of the new company and will therefore be a guarantor of having experienced and professional managers running the business.

    The Omnipol Group has a very long history with AERO, over the past decades it has been responsible for exporting almost all of the aircraft from its production lines.

    Since 2015, Omnipol has also been the strategic partner in the project for the next generation of L-39 aircraft: L-39NG.

    As a 50% shareholder of these projects, the group has already worked very closely with AERO over the past five years.