The revenues of Russian car manufacturers have increased in the first half of 2017

The revenues of Russian car manufacturers have increased in the first half of 2017

RusAutoNews.Com – The revenues of Russian car manufacturers have increased in the first half of 2017:

GAZ Group:

The revenue of the company has risen by 16% year-on-year within the first half of 2017, to 67.4 billion rubles. The growth in the sales of the NEXT generation was the main contributor to the revenue increase. The sales of GAZelle NEXT and GAZon NEXT have increased by 29% in the Russian market. Sales of buses of all classes and purposes have grown by 22%.

The growth in sales and the increase in the business efficiency during the first half of 2017 have enabled the company to earn a profit of 1.1 billion rubles, in contrast with the loss of 2.4 billion rubles made by the end of the same period of the previous year. The revenue per employee has risen by 11%, reaching 257,000 a month.

KAMAZ:

The net profit of KAMAZ has amounted to 990 million rubles by the end of the first half 2017, improving from last year’s loss of 1.93 billion rubles.  The consolidated revenue has risen by 32% to 62.3 billion rubles.

The EBITDA has increased 11.5 times to 4.26 billion rubles during the aforementioned period. The net debt of KAMAZ has amounted to 23.5 billion rubles as of 30 June. The gross profit has grown 4.1 times to 10.1 billion rubles. The operational profit was 2.34 billion rubles, as opposed to last year’s 1.45 billion rubles loss.

KAMAZ sales have increased by 16% during the first half of the year to 1510 units (home and abroad). KAMAZ has 49.5% share of the over 14 tonnes truck market.

SOLLERS:

The net profit of Sollers according to IFRS has grown 16.9 times year-on-year during the first half of 2017, to 575 million rubles, as stated by the company. The revenue has increased by 19.3%, to 16.01 billion rubles.

EBITDA has risen by 15.7% to 1.69 billion rubles. The operational profit of the company went down, on the other hand, during the aforementioned period, by 23.5% to 1.01 billion rubles.

The growth in the first half of the year was due to the significant increase in the exports of UAZ vehicles, the launch of the updated Patriot, the implementation of additional financial services within the scope of the cost optimisation programme, according to the Chief Deputy Director of Sollers: Nikolai Sobolev.

AVTOVAZ:

AVTOVAZ has generated 102 billion rubles revenue during the first half of 2017, which is equivalent to a 17.6% year-on-year increase. The group has almost reached the level of operational break-even with a result of -4.0 million rubles (an improvement of 9 billion rubles in comparison with the same period of 2016). The net profit of the company has also remained in negative figures with -4 billion rubles (an improvement of 23 billion rubles).

Moreover, AVTOVAZ stresses the continuing risks that could adversely affect the company’s financial results in the second half of 2017. In particular, the increase in raw material prices and the deterioration of foreign exchange factors. The company will continue with its restructuring plan, in order to mitigate the effects of these risks.