The net loss of Kamaz has reached 3.2 billion rubles at the end of H1 2019

The net loss of Kamaz has reached 3.2 billion rubles at the end of H1 2019


 

RusAutoNewsCom.- As reported by the company press office, Kamaz has made a net loss of 3.2 billion rubles according to IFRS within the first half of 2019, in contrast with the 1.57 billion rubles profit generated during the same period of the previous year, as stated by the company.

The loss is a result of the effect of the negative trend in the heavy vehicles market throughout the world on the Russian heavy trucks market and the increasing financial burden brought by the implementation of large investment projects, according to the company statement.

The revenues from the sales of buses, trailers and special vehicles have risen by 70% year-on-year, on the other hand, amounting to 7.7 million rubles. The company has generated an income of 1.6 million rubles from vehicle sales through financial leasing, which is equivalent to a 51% year-on-year growth. 42.2 million revenue has been made from automobile sales, following a 10% shrinkage compared to the same period of 2018.

In general, the group’s consolidated revenue indicator remained the same as the previous year’s level: 78 billion rubles.