NEFAZ earned RUB 319 million in 6-month IFRS net profit

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AK&M 11 September 2020 20:46

IFRS net profit of NEFAZ Publicly Traded Company for 6 months of 2020 amounted to RUB 319 million against a loss of RUB 756 million a year earlier, the press service of KAMAZ informed.

Gross profit reached RUB 886 million against a loss of RUB 539 million. Revenue exceeded RUB 12 billion (+56.4% year-on-year).

The revenue growth was driven by sales of passenger transport vehicles and dump trucks. Sales of buses and electric buses contributed most to the revenue (RUB 8.5 billion, +79.33%). Sales of dump trucks increased by 42.24% to RUB 1.5 billion.

NEFAZ Publicly Traded Company (NEFAZ PTC), is KAMAZ's subsidiary company in the Republic of Bashkortostan.

KAMAZ Group (tax number: 1650032058) includes 13 principal subsidiaries engaged with the development, production and assembly of automotive vehicles and vehicle sets and sales of finished products. In total, KAMAZ Group consists of 110 enterprises including joint ventures in the CIS countries and foreign assembly facilities. KAMAZ's major shareholders are Rostec, Avtoinvest Limited, Daimler, KAMAZ International Management, EBRD, Decodelement Services Limited.