KAMAZ PTC has published financial results for the 1st half of 2020 in accordance with IAS
31 August 2020
As a result of the activities of the KAMAZ Group, a net profit of RUB 32 million was achieved in the first half of 2020, compared to a loss of RUB 3,204 million for the corresponding period last year.
The consolidated revenue of the group of organizations of KAMAZ PTC amounted to 85 billion rubles, exceeding the same indicator in 2019 by 9%.
Despite the decline in the truck market in Russia, the Group KAMAZ is still in first place among participants of the Russian market of trucks with GVW over 14 tons. The drivers of revenue growth were sales of trucks on the domestic market, including on financial leasing terms, and sales of passenger transport.
Revenue growth and anti-crisis measures taken to reduce costs led to improved operating performance and provided positive operating cash flow in the amount of 7,554 million rub. (6 months 2019: - 8,517 million rub). EBITDA for the reporting period was 6,062 million rub.
Success in current operations allows us to maintain an optimal level of investment in the development of new advanced projects in difficult economic conditions.
Earlier, KAMAZ published accounting statements for the first six months of this year under RAS: the company's net profit for the reporting period amounted to 554 million rubles against a loss of 2 billion rubles for the same period in 2019, gross profit reached 7.295 billion rubles, which is higher than in the same period last year by 4.8 billion rubles