KAMAZ PTC has published the group's financial results for 2019 in accordance with IAS
24 April 2020
The consolidated revenue of the group of organizations of KAMAZ PTC in 2019 amounted to 190 billion rubles (2018 – 186 billion rubles). The main growth was shown by the passenger transport and financial leasing segments.
Revenue from the sale of buses, trailers and special equipment increased by 52% compared to the same period of the past year and amounted to 17,399 million rubles, the group's revenue from the sale of vehicles on financial leasing terms amounted to 3,642 million rubles, which is 58% higher than in 2018.
KAMAZ PTC maintained a high investment level of 7.5% of revenue, continuing to implement a major investment project «Development of KAMAZ car range and modernization of production facilities».
At the same time, the company managed to maintain the cost price at the level of 2018, as well as reduce the loss compared to the first half of 2019 by more than 1 billion rubles.
Revenue growth and accelerated inventory turnover in 2019 provided positive operating cash flow in the amount of 6,437 million rub, a stable financial position of KAMAZ PTC and the ability to meet its obligations, which is confirmed by the credit rating of KAMAZ PTC at А+(RU) level assigned by the ACRA Agency.
The difficult situation on the Russian heavy truck market and the growing financial burden associated with the company's investment cycle caused KAMAZ Group to receive a loss of RUB 1,955 million in 2019.