KAMAZ Group has made a net profit of 32 million rubles during the 1st half

KAMAZ Group has made a net profit of 32 million rubles during the 1st half


 

RusAutoNewsCom.- Kamaz Group has made a net profit of 32 million rubles during the first half of 2020, in contrast with the 3.2 million rubles loss of the same period of the previous year. 

The consolidated revenue of the company has reached 85 billion rubles, on the other hand, growing by 9% year-on-year. 

Despite the shrinkage in the Russian truck market, the company has kept its leadership amongst its rivals in sales of trucks over 14 tonnes gross weight. Truck sales in the domestic market have been the driving force in revenue growth, under the terms of financial leasing, along with passenger transport sales. 

Rise in revenues and the anti-crisis measures taken to reduce costs have led to an improvement in operational activities and ensured a positive financial flow in the sum of 7.6 billion rubles. The EBITDA indicator amounted to 6.1 billion rubles during the aforementioned period. 

Kamaz Group had previously published its accounts for the first six months of the year, according to Russian Accounting Standards: the net profit of the company has amounted to 554 million rubles in the aforementioned period, in contrast with the 2 billion rubles loss in the same period of the previous year. The gross profit, on the other hand, reached 7.3 billion rubles, exceeding last year’s figure by 4.8 billion rubles.