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Kamaz posts FY 2010 Net loss of 742 million roubles

Kamaz posts FY 2010 Net loss of 742 million roubles
Russia’s leading truck maker, Kamaz, has posted a Net loss of 742 million roubles for FY 2010 under IFRS.

­The bottom line is 66% up from the net loss of 3.525 billion roubles posted for FY2009, on the back of a 5.2 fold year-on-year increase of EBITDA to 4.31 billion roubles, with Sales Revenue up 21% year-on-year, coming at 73.7 billion roubles.

The company attributed the result to a growth in sales volume and 16% reduction of the debt burden to 12.25 billion roubles in 2010. The main achievement for the company in 2010 was the ability to maintain 47% in the fast growing market. In 2010, automobile sales were up 25% year-on-year with over 32.000 vehicles sold.