Private joint-stock company AvtoKrAZ (Kremenchuk, Poltava region), the sole Ukrainian manufacturer of heavy trucks, saw UAH 1.048 billion of net revenue in 2017 (UAH 1.232 billion in 2016).
According to a Tuesday press release of the company, AvtoKrAZ CEO Roman Cherniak presented the figure in his report at a general meeting of shareholders held on April 3.
According to the press release, the share of dropside trucks of total vehicles made by the company was 41%, the share of chassis for various special-purpose equipment was 38%, tractor trucks – 17%, dump trucks – 3% and short log trucks – 1%.
Some 81% of trucks were delivered to the Ukrainian market, and supplies to the civil sector of the domestic market tripled. 5% of trucks were exported to non-CIS countries and 14% to the CIS.
Cherniak said that AvtoKrAZ last year passed a first audit of the quality management system under the certificate received in November 2016 confirming compliance with ISO/TS 16949:2009.
Capital investment in 2017 totaled UAH 1.8 million. The funds were sent to buy equipment, tools, modernization and reconstruction of fixed assets. Some UAH 29 million was spent on minor repair and overhaul and some UAH 7.5 million on maintenance of a clinic, dormitories, catering rooms, the palace of culture and other facilities.
According to the report of the CFO, growth of expenses and not enough volumes of production, permanent growth of currency exchange rates, accrued interest for the use of loans contributed to the fact that AvtoKrAZ saw large losses in 2017.