29 Aug 2014 17:20

Kamaz swings to IFRS net loss of 1.5 bln rubles in H1

MOSCOW. Aug 29 (Interfax) - Russian truck manufacturer OJSC Kamaz posted net loss to International Financial Reporting Standards (IFRS) of 1.5 billion rubles in the first half of 2014 versus 2.589 billion rubles in profit a year before, the company said in a report.

Revenue fell 10.4% year-on-year to 47.609 billion rubles. Revenue from sales on the domestic market fell 9.2% to 43.047 billion rubles and revenue from exports fell 20.8% to 4.567 billion rubles.

The company's gross profit fell by nearly 50% to 4.624 billion rubles.

Kamaz's EBITDA was 325 million rubles against 4.916 billion rubles year earlier.

Long-term loans and borrowings in H1 fell by 20.5% to 12.595 billion rubles and short-term fell by 16.9% to 5.044 billion rubles.