CONSENSUS: GAZ Group's 2012 IFRS net profit drops 33.6%
MOSCOW. July 1 (Interfax) - GAZ Group , one of Russia's largest producers of light commercial vehicles (LCV), saw its net profit to International Financial Reporting Standards (IFRS) slump 33.6% to 5.644 billion rubles in 2012, according to a consensus forecast of analysts from investment companies and banks polled by Interfax.
Individual predictions range from 4.402 billion rubles to 6.073 billion rubles. The group generated 8.5 billion rubles in net earnings to IFRS in 2011.
Analysts expect the GAZ Group's earnings before taxes, depreciation and amortization (EBITDA) to have edged down 1.35% last year to 13.811 billion and for its revenue to have risen 1.4% to 134.235 billion rubles.
The company plans to present its 2012 financial results to IFRS on Tuesday, July 2.
Forecasts of GAZ Group's 2012 IFRS financials (mln rubles):
| Revenue | EBITDA | Net profit | |
| BCS | 142 251 | 13 656 | 6 073 |
| VTB Capital | 127 210 | 14 249 | 6 402 |
| Metropol | 141 269 | 15 520 | 4 402 |
| Finam | 135 100 | 14 100 | 5 600 |
| Uralsib Capital | 125 346 | 11 528 | 5 747 |
| Consensus | 134 235 | 13 811 | 5 644 |
| 2011 | 132 400 | 14 000 | 8 500 |
| Change (%) | 1,4 | -1,35 | -33,6 |
In 2011, the GAZ Group's IFRS net profit quadrupled to 8.5 billion rubles, revenues soared 37% to 132.4 billion rubles, and EBITDA grew 49% to 14 billion rubles. The company anticipated 130 billion rubles in revenue for 2012.
The GAZ Group's 2012 net earnings to Russian Accounting Standards (RAS) dropped 64.3% to 684.707 million rubles.
OJSC GAZ consolidates the GAZ Group's assets, which include car, commercial motor transport and construction and road machinery production. The group includes 18 automakers in Russia, as well as retail and service structures.
GAZ Group is part of the Russian Machines holding, which is in turn part of Oleg Deripaska's Basic Element (BasEl).
