KAMAZ has made a net profit of 1.6 billion rubles in 2018

KAMAZ has made a net profit of 1.6 billion rubles in 2018


 

RusAutoNewsCom.- Kamaz has fulfilled the financial indicators of its 2018 business plan: the consolidated revenue of the company has increased by 19% year-on-year and reached approximately 187 billion rubles, as reported by the company press office.

38,382 trucks have been sold in the domestic market and abroad (38,192 units during the same period of the previous year). A net profit of 1.59 billion has been made by the end of the year (3.46 billion for the same period of 2017).

“Despite the dire circumstances in the heavy trucks market in 2018, we have fulfilled the main financial targets” – commented the Kamaz Deputy General Director of Finance: Andrei Maksimov. “Our profit of approximately 1.6 billion rubles has reached the amount set in the business plan. The year-on-year shrinkage in the profit was planned, which was due to the implementation of a major investment project in the development of Kamaz vehicle range and the modernisation of the production facilities. A large amount of investment has also been allocated to the preparations and the launch of the new generation of K5 trucks to the market”.

As stated by Maksimov, a new cabin carcass plant has been constructed, alongside plans to launch the production of the new inline P6 engine family and the re-engineering of the main production sites of the company.

In addition, there were extra expenditures for the company, related to the production of Kamaz-6282 electric buses, on the order of Mosgortrans. The model has become one of the most high-tech products not only in the spectrum of the company, but also amongst its peers worldwide.

Kamaz has maintained the level of investment as a result: 15 billion rubles were spent during the year (14 billion in 2017).

The company has managed to keep its share in the Russian truck market of over 14 tonnes gross weight (vehicle registration data) at 41% and enter the new electric passenger transport market in 2018, despite the stagnation in the construction sector and the completion of major infrastructure projects.