The net profit of Avtovaz has amounted to 5.9 billion rubles in 2018

The net profit of Avtovaz has amounted to 5.9 billion rubles in 2018


Finmarket.- The net profit of Avtovaz has amounted to 5.9 billion rubles in 2018, according to IFRS, in contrast with the loss of 9.7 billion rubles in 2017, as indicated in the company statements. The revenue has risen by 26%, on the other hand, to 283.1 billion rubles.

The operating profit margin has increased by 9.2 times to 14.6 billion rubles. The cost of products and services sold has grown by over 20% to 252.1 billion rubles. The research and development expenditures have risen to 2.95 billion rubles form the 2017 figure of 1.5 billion rubles. 13.4 billion rubles have been spent on sales, administrative and general business expenses during the aforementioned period, which indicates a rise from the previous year’s 13 billion rubles.

The index of the company’s long-term liabilities was at the level of 64.5 billion rubles at the end of last year, down from previous year’s 62 billion rubles. The short-term liabilities have shrunk by 1.7 times to 70.6 billion rubles. Payables have also gone down by 27.5% to 50.6 billion rubles.

The sales of Lada vehicles by Avtovaz have increased by 16% in Russia in 2018, to 360,204 units.

96.64% share of Avtovaz currently belongs to Alliance Rostec Auto, the joint venture of Renault and the state enterprise Rostec.