Kamaz may nearly double net profit to IFRS in 2012
MOSCOW. May 24 (Interfax) - Russian truck maker Kamaz anticipates net profit to International Financial Reporting Standards of around 3.5 billion rubles in 2012, Kamaz Financial Director Elena Milinova told the press in Moscow on Wednesday.
She said the revenue forecast for this year was 123 billion rubles. Earlier the company's general director, Sergei Kogogin, told Interfax that revenue would climb 18% in 2012 to 124 billion rubles.
Kamaz posted net profit to IFRS of 1.8 billion rubles in 2011, compared to a loss of 763 billion rubles in 2010. So this year net profit could nearly double.
The company had planned to assemble around 55,000 trucks in 2012, compared to 45,200 in 2011 (up 21.7%). The 2012 business plan, however, contains 58,000 trucsk. Milinova said Wednesday that production could reach around 47,000 this year so the company has reduced its forecast.
Investment to 2020 could reach 86.5 billion rubles and revenue to IFRS in 2015 may be 213 billion rubles and the EBITDA may be 24 billion rubles. By 2020, revenue will climb to 374 billion rubles and EBITDA to 44 billion.