In the first half of 2022, the net profit of KAMAZ PJSC under RAS decreased by 4.7% year-on-year and amounted to 2.699 billion rubles against 2.834 billion rubles in January-June 2021, the company’s financial statements say.
Gross profit of the company grew in January-June by 1.6 times, exceeding 16.8 billion rubles, profit from sales increased by 2.6 times – up to 9.2 billion rubles.
Long-term liabilities of KAMAZ as of June 30, 2022 amounted to 94.7 billion rubles (at the end of 2021 – 95.2 billion rubles), related borrowed funds – 75.6 billion rubles (80.1 billion rubles). Short-term liabilities were at the level of 130.6 billion rubles (108.7 billion rubles), borrowed funds – 48.1 billion rubles (33.9 billion rubles).
KAMAZ is the largest Russian manufacturer of trucks with a GVW of 14-40 tons. After the start of the military operation on the territory of Ukraine, the company found itself under the sanctions of the EU, Great Britain and the United States , as well as Australia , Canada, New Zealand and Switzerland. In the sanctions lists of Australia, Canada and the UK was also CEO Sergei Kogogin. The main shareholder of KAMAZ, the state corporation Rostec (47.1%), also fell under the restrictions of Great Britain and the USA.
In addition to Rostec, the co-owners of the company are Avtoinvest LLC (23.54%, as of last year, 50% and 20%, respectively, in this company were owned by businessmen Vitaly Maschitsky and Ruben Vardanyan, Kogogin owned 30%) and the German Daimler AG (fifteen%). The latter, against the backdrop of the imposition of sanctions, previously announced the suspension of cooperation with the Russian automaker.
Among the minority shareholders of KAMAZ are KAMAZ International (4.25%), the Eurasian Development Bank (EDB, 3.72%) and the structure of the government of Tatarstan – Svyazinvestneftekhim JSC (2.8%).