KAMAZ PTC is closing 2022 with better financial performance than in the most successful year in the history of the company – 2021. Sergey Kogogin, General Director of the company, told about this to journalists of the federal media at a press conference held in Moscow.
Despite the difficult realities of the outgoing year, KAMAZ is closing it better than the previous one, which was the most successful in the company's history in terms of financial indicators. At the end of 2021, the company earned 4.6 billion rubles of net profit under IFRS, revenue amounted to 272 billion rubles. The company does not disclose the exact figures of 2022: under the sanctions, KAMAZ does not publish financial statements.
“We managed to work steadily throughout the year, although we were the first to be disconnected from the supply chain, all possible sanctions were imposed against us and hit the fifth generation of trucks,” Sergey Kogogin emphasized.
The business plan for 2023 provides for revenue of more than 300 billion rubles, EBITDA at the level of 24 billion rubles, and net profit of 5 billion rubles. As the head of KAMAZ noted, by the end of 2022, the profit will be higher.
As for production indicators, in 2022 the production volumes of KAMAZ vehicles are expected to be approximately at the level of 2021. Thus, for 11 months, the auto giant produced 39,849 vehicles. By the end of 2022, 43,828 units are expected. For comparison, in 2021 the company produced 44,148 trucks.
“For 2023, our ambitions are quite serious. We have approved the business plan. Clueless about what will happen to the economy next year, we made a very cautious forecast at the level of 2022. In 2023, it is planned to produce about 40,000 vehicles, without taking into account federal customers’ needs. Governmental customers have not yet determined the volume. There is no clear federal order,” the head of KAMAZ explained.
In 2023, the company will continue import phase-out and resume the production of a new vehicle line. It is planned to produce 10.6 thousand trucks of the K4 and K5 generation. Basically, we are talking about the latest K5 line, but trucks of the K4 generation will also be available. These will be vehicles assembled from remaining components. For comparison, in 2021, the production of vehicles of the new model range was at the level of 10,957 units, and this year, due to a shortage of components associated with the withdrawal of foreign partners, it has decreased to 4,193 vehicles.