Russia – Leading Russian heavy truck builder, KAMAZ AG (Kama Automobile Plant) of Naberezhnye Chelny, Russia summed up the financial results of the year. Its consolidated revenue grew by 19% to almost RUB187bn (USD2.8bn) in 2018 compared with RUB157bn in 2017. It sold 38,382 trucks in the domestic and foreign markets, a marginal increase on 38,192 units sold in 2017 and posted net profit in the amount of 1.588bn (2017: RUB3.455bn).

"Despite the difficult situation in the heavy-duty truck market in 2018, the plant reached its main financial and economic target indicators,” said Andrei Maximov CFO of KAMAZ. “Our profit reached the target set by the business plan of almost 1.6 billion rubles. Its decline from the 2017 level was planned and related to the implementation of a major investment project The development of the model range of KAMAZ vehicles and the modernization of capacities for its production". Also, a large sum of money was spent on preparations for the market launch of a new generation of K5 heavy-duty trucks.