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KAMAZ Summarizes 1Q Results

20 April 2017

KAMAZ (part of Rostec State Corporation) has published RAS accounting reports for the first quarter of 2017.

According to the results of the first quarter of 2017, receipts of KAMAZ PTC from marketing products, goods and services amounted to RUB 26.4 bln – by RUB 9.2 bln more than for the same period last year. The company gained a net profit in the amount of RUB 34.4 mln (against a loss of RUB 2.2 bln in the first quarter of 2016).  

The figures were boosted owing to the product launch of new-generation KAMAZ vehicles, activities on the import substitution of vehicle components, an increase in labour productivity, cost saving, more efficient financial management. "We hit the ground running right at the beginning of the year 2017," noted Sergey Kogogin. "Today, in an increasingly competitive climate, it is important to keep our positions on the truck market and focus on production development and sales of the new lineup of vehicles." 

In 2017, the company plans to invest almost RUB 20 bln in development. The company's priority growth areas inlcude the organization of new L6 engine production, the construction of a new K5 cabin frame plant, and also the development of new-generation vehicles and import substitution activities. As for core operations, KAMAZ plans to produce 36 thousand trucks this year.

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