AvtoVAZ net profit under RAS in 2022 fell by 86.2%
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At the end of 2022, AvtoVAZ’s net profit under Russian Accounting Standards (RAS) fell by 86.2% to RUB 206.6 million, TASS reports, citing the company’s financial statements. The group’s revenue decreased by 43.7%, to 169.574 billion rubles.
AvtoVAZ’s gross profit fell by 71.2% to RUB 7.2 billion. Cost of sales decreased by 41.2% to RUB 162.334 billion. The company’s commercial expenses decreased by 37.4%, to 5.233 billion rubles, management expenses – by 6.9%, to 6.132 billion rubles. The loss from sales amounted to 4.126 billion rubles. against profit of 10.2 billion rubles. a year earlier.
AvtoVAZ appreciated the car market of the Russian Federation in 2022 to 676 thousand cars, and its share in it – to a record 27.9%. Against the backdrop of the cessation of production and production of mass-produced cars of other brands, 189 thousand Lada cars were sold on the market. In 2023, the company plans to produce 400 thousand cars at once. Despite the sharp decline in the supply of foreign cars to Russia, AvtoVAZ proposed to increase the scrap fee in order to further protect the domestic market from imports.
Details – in the material “Kommersant” “AvtoVAZ trumpets a waste collection”.
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