Consolidated revenue of the Russian automaker Kamaz exceeded 118 billion rubles, which is 40% higher than last year, the company's press service said.

At the same time the company's net profit amounted to almost 4 billion rubles. EBITDA for the accounting period increased 1.8 times and amounted to about 11 billion rubles.

"The main driver of financial performance growth is an increase in sales of trucks by 45%, compared to the six months of 2020. A total of 21578 trucks were sold in the domestic and foreign markets," the press service said.

Thus, proceeds from truck sales in the first half of 2021 amounted to 77.8 billion rubles, which is 60% more than during the same period last year. Buses, electric buses and special-purpose vehicles segment has also shown a significant sales growth of 47% over the last year. In the reporting period, revenues in excess of 17 billion rubles were recorded here.

The company noted that the financial leasing segment showed positive results amid fierce competition in the financial services market: the income amounted to 2.7 billion rubles. The 32% growth over the same period of the last year was reached due to high demand for tractors of new model range and dump trucks, as well as due to the favorable financial products and attractive specialized promotions.

In the six months Kamaz generated positive cash flow from operations of approximately RUR 3 billion. Due to the implementation of a major investment project for the development of a new range of vehicles and production facilities, the group's net debt increased to 88.3 billion rubles.

As in previous periods, Kamaz prioritized innovative development, the press service said. For example, investment in modernization and mastering of new technologies amounted to almost 9 billion rubles or 7.5% of revenue.

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Author: Karina Kamalova