Russia’s largest truck maker KamAZ’s 2010 net loss to IFRS fell 66 percent year on year to 763 million rubles ($27.25 million), the company said on Tuesday.
KamAZ said revenue grew 21 percent in 2010 to 73.77 billion rubles, EBITDA rose 420 percent to 4.31 billion rubles while net debt fell 16 percent to 12.25 billion rubles.
“The company expects to demonstrate positive net profit results in 2011 due to growth in sales and the further reduction of its debt burden,” the firm said.
KamAZ produces more than 30 models of trucks, as well as trailers, buses, tractors and spare parts. It also manufactures engines, power units, and components.
The company has assembly facilities in Poland, Kazakhstan, Azerbaijan, Ethiopia, Vietnam and Ukraine.
KamAZ heavy-duty trucks have won the Paris-Dakar rally on several occasions.
MOSCOW, May 31 (RIA Novosti)