NEFAZ COMPLETED THE FIRST HALF OF THE YEAR WITH A PROFIT
11 September 2020
NEFAZ PTC, a subsidiary of KAMAZ in Bashkiria, published financial results for the first half of 2020 in accordance with IAS: net profit of 319 million rubles was received against a loss of 756 million rubles a year earlier (compared to the same period last period).
Gross profit reached 886 million rubles against a loss of 539 million rubles for the APPG. NefAZ's revenue amounted to over 12 billion rubles, exceeding the same indicator last year by 56.4%.
Sales of passenger transport and dump trucks were the drivers of revenue growth. The largest revenue was generated by the sale of buses and electric buses, which amounted to 8.5 billion rubles (+79.33% compared to the same period last period). Sales of dump trucks for the six months of 2020 increased by 42.24%, revenue amounted to 1.5 billion rubles.
Among the main actions of NEFAZ PTC aimed at reducing risks and their negative impact are improving production and reducing costs, implementing a set of measures for import substitution, developing and launching new models of equipment to the markets, accelerating the introduction of innovations, producing vehicles of the Euro-5 environmental class, improving the reliability and quality of products, and promoting vehicles running on gas fuel.