Net profit of Kamaz has amounted to 554 million rubles within the first half of 2020

Net profit of Kamaz has amounted to 554 million rubles within the first half of 2020


RusAutoNewsCom.- Kamaz has published its accounts for the first six months of the year according to the Russian Accounting Standards. The total revenue of the company has increased 15% year-on-year, reaching 74.8 billion rubles.

12,976 vehicles have been sold in the Russian Federation within the aforementioned period, which is equivalent to a 4% year-on-year rise, exceeding the business plan approved by the company Board of Directors by 9%. 1890 vehicles and assembly kits have been exported, which indicates a 37% growth, in comparison with the same period of the previous year.

Passenger transport sales of Kamaz have also risen by 71% within the first half of the year, compared to the same period of 2019, with 725 buses and electric buses.

The net profit of the company has reached 554 million rubles within the aforementioned period, in contrast with the 2 billion rubles loss by the end of the first half of 2019. A gross profit of 7.3 billion rubles has been made within the January-June period of 2020, exceeding last year’s figure by 4.8 billion rubles.

As reported at the press release, the positive results have been achieved thanks to the timely systematic support measures taken by the government of the Russian Federation to support the industry, including the demand stimulation measures aimed at automotive production, as well as the anti-crisis measures for efficiency improvement, implemented by the Kamaz management.

The measures taken as part of the action plan against the adverse macroeconomic factors, primarily related to the introduction of restrictive measures due to the spread of the coronavirus infection, have ensured the continuity of the company, its suppliers and authorised dealerships.