KAMAZ summed up the financial results for 2019 according to RAS
25 March 2020
KAMAZ has published its annual accounting statements for 2019 in accordance with RAS (Russian accounting standards).
According to published data, the revenue of KAMAZ PTC amounted to 160 billion 816 million rubles – an increase of 6% compared to 2018 (APPG). During the reporting year, trucks, spare parts, goods and services were sold in the domestic market for 144 billion 609 million rubles, which is 4% more than a year earlier (APPG - 138 billion 441 million rubles). The foreign market sold products, goods and services for 16 billion 207 million rubles, which is 28% more than a year earlier (APPG - 12 billion 659 million rubles).
The total value of current and non-current assets by the end of 2019 increased by 9 billion 468 million rubles and amounted to 189 billion 366 million rubles, which indicates a stable position of the company. The overall difficult situation on the Russian market in the commercial vehicle segment, as well as the company's investment cycle associated with the launch of a new generation of K5 vehicles, caused a negative overall result, which, however, improved by almost half a billion rubles compared to the first half of the year. As a result, by the end of the reporting period, the company managed to reduce its net loss to 1 billion 517 million rubles (APPG – net profit of 27 million 179 thousand rubles).
In the context of a decline in the market volume of the Russian Federation, CIS and foreign countries, KAMAZ continued to work to improve the quality and consumer properties of its products, as well as to implement a major investment project «Development of the KAMAZ car range and modernization of capacities for its production». A new Cab frame plant has been launched, where advanced technical solutions are applied, and production of a new family of KAMAZ inline six-cylinder engines, which was launched earlier, is being developed.
Part of the funds was spent on a serious project in the field of innovative eco-friendly passenger transport, the success of which became evident in 2019: the KAMAZ electric bus has proven itself well in the Moscow market, and a third contract has already been signed with Mosgortrans for the supply of innovative products.
Extensive work has been done to expand the model range, and new transport solutions with fundamentally improved technical characteristics and consumer properties have been offered to consumers. Promising developments and tests of transport with unmanned control technologies continued, and production of gas-cylinder cars and buses powered by compressed natural gas and liquefied natural gas developed. In general, the company's investments in 2019 amounted to more than 12.5 billion rubles.