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KAMAZ summed up the financial results of 2018 under IFRS

25 April 2019

KAMAZ PTC fulfilled the financial indicators of the business plan for 2018: the consolidated revenue of the group of organizations increased by 19% compared to 2017 and amounted to almost 187 billion rubles.

38 382 trucks were sold in domestic and foreign markets (for the same period last year, SPLY – 38 192 units). During the reporting year, net profit was received in the amount of 1 billion 588 million rubles (SPLY – 3 billion 455 million rubles).

"Despite the difficult situation in the heavy truck market in 2018, we have fulfilled the main financial and economic goals, – commented Deputy Director General of KAMAZ – Financial Director Andrey Maksimov. – Our profit reached the target set by the business plan of almost 1.6 billion rubles. Its decrease in comparison with 2017 was planned and is associated with the implementation of a major investment project "Development of the model range of KAMAZ vehicles and modernization of capacities for its production". Also, a lot of money was spent on preparation for the market launch of a new generation of K5 cars." Maximov said that the implementation of this purpose built new factory of the frames of the booths, started production of a new family of inline engines R6, carried out re-engineering of the main production sites of the company. In addition, the company's costs were associated with the development of the KAMAZ-6282 electric bus production by order of Mosgortrans. The model has become one of the most high-tech products not only in the range of the company's products, but also among the world's models of vehicles of this kind.

As a result, KAMAZ has maintained a high level of investment: 15 billion rubles (SPLY – 14 billion rubles) were spent in the reporting year.

Despite the stagnation in the construction sector and the completion of major infrastructure projects, the company managed to retain a share in the Russian market of trucks with a gross weight of over 14 tons (vehicle registration data) at 41% by the end of 2018 and enter the new market of electric passenger transport.