The profit of Daimler Kamaz Rus has shrunk by 29% in 2018

The profit of Daimler Kamaz Rus has shrunk by 29% in 2018


 

Finmarket.- Daimler Kamaz Rus has made a net profit of 962.5 million rubles in 2018, following a 29% year-on-year shrinkage.

The revenue of the enterprise has risen by 11.5% to 38.6 billion rubles and the prime cost by 13.9% to 36.9 billion rubles. As a result, the gross profit has fallen by 23.5% to 1.7 billion rubles. Following the deduction of business and administrative expenses, the loss from sales amounted to 867.2 million rubles, in contrast with the 86.4 million rubles profit generated a year earlier. Due to a 60% increase in “other income” revenues to 3.6 billion rubles, the company has made a 1.2 billion rubles profit before tax, which is equivalent to a 32.7% shrinkage in comparison with 2017.

Kamaz and Daimler have established the joint venture in Naberezhnye Chelny in November 2009. The initial investment in the joint venture made by both sides amounted to 5.9 million euros. The production was launched in September 2010. Daimler Kamaz Rus manufactures Mercedes-Benz and Fuso trucks. The annual capacity of the facility is 4500 vehicles. The plant manufactured 30,000 trucks as of the end of last year, since the launch of production.