KamAZ incurs 2.6 bln rubles in IFRS losses in 2009
MOSCOW. June 1 (Interfax) - Russian truck-maker OJSC KamAZ turned 2.579 billion rubles in net losses last year versus 1.065 billion rubles in 2008 net profits, the company's financial report to International Financial Reporting Standards (IFRS) says.
Sales revenues decreased 36.8% to 60.894 billion rubles, the report says.
In mid-April a company representative said that IFRS sales revenues had fallen 36% to 96.3 billion rubles in 2009, while net losses were 3.4 billion rubles.
The net debt/EBITDA ratio was 19.1.
KamAZ operating losses came to 1.767 billion rubles in 2009 (IFRS operating profits were 6.296 billion rubles in 2008)