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AvtoKrAZ truck sales fall 18% yoy in 2012

2013/1/10 18:40:00

Analysts say the company looks set to record its second straight year of losses


KYIV, Jan 10, 2013 (UBO) -- AvtoKrAZ (KRAZ UK), Ukraine’s only truck producer, reported its vehicle deliveries fell 18% yoy to 1,038 units in 2012, the company reported on Jan. 9 via Interfax. Total truck production fell 16% yoy to 899 units in 2012. The company plans to increase its truck production 2.7x yoy to 2,400 vehicles in 2013.

 

Concorde Capital analyst Roman Dmytrenko analysed AvtoKrAZ’ prospects as follows:

 

“The delivery of only 1,038 trucks in 2012 implies AvtoKrAZ missed by 2.3x its October sales guidance for the year and indicates the company won’t report a positive bottom line for 2012 after a USD 22 mln net loss in 2011. Moreover, considering there are no signs that the Russian Federation (a major market for AvtoKrAZ) will remove its recycling fee on car imports from Ukraine, the 2.7x yoy truck production growth that the company estimated for 2013 looks hardly achievable.”

 

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