CEO says Kamaz to have 5 bln rbl IFRS net profit in 2022, 2023

MOSCOW, Dec 22 (PRIME) -- Russian truck producer Kamaz is to have a record 5 billion ruble net profit under International Financial Reporting Standards (IFRS) in 2022 and 2023, CEO Sergei Kogogin said on Thursday.

"We will finish this year with much better financial indicators than the historically best 2021," Kogogin said. "Our business plan lists over 300 billion rubles of sales, 24 billion of earnings before interest, taxes, depreciation and amortization, a 5 billion ruble net profit. These are the figures planned by our company for 2023."

The CEO also said that Kamaz planned to raise the investment program for 2023 by 33% to about 20 billion rubles. About 44,000 trucks will be sold on the foreign markets in 2023, in line with the 2022 figures.

The Moskvich and Atom car plants may become parts of the car division of the company, he said.

(70.5256 rubles – U.S. $1)

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