1 Apr, 19:28

Kamaz’s net profit drops 28-fold to 731 mln rubles in 2024

In 2024, Kamaz produced over 54,600 commercial vehicles, a 3% increase compared to the previous year

MOSCOW, April 1. /TASS/. Net profit of Russian truck manufacturer Kamaz under the International Financial Reporting Standards (IFRS) totaled 731 mln rubles ($8.64 mln) in 2024, the company announced. According to Kamaz, its net profit under IFRS for 2023 stood at 20.4 bln rubles ($241.3 mln), marking a 28-fold decline year-on-year.

"The dynamics of net profit were significantly impacted by the rise in interest expenses due to the increased cost of borrowing, as well as higher income tax expenses resulting from the recalculation of taxes under the new 25% rate," the statement noted.

The company’s revenue for the reporting period grew by 6.3% year-on-year, reaching 393.7 bln rubles ($4.65 bln), compared to 370.3 bln rubles ($4.38 bln) in 2023.

EBITDA for 2024 amounted to 33.6 bln rubles ($397.4 mln), reflecting a 14% decline from the previous year’s figure of 38.96 bln rubles ($457.6 mln).

Kamaz’s investments in 2024 accounted for 8% of its revenue, maintaining the same level as in 2023.

In 2024, Kamaz produced over 54,600 commercial vehicles, a 3% increase compared to the previous year.

In 2025, the company manufactured 1,600 buses and 688 electric buses, along with 4,400 trailers and semi-trailers, 554 concrete mixers, and 5,700 units of medium-and light-duty Kompas trucks. Production of heavy-duty trucks reached 41,700 units.

According to Kamaz CEO Sergey Kogogin, as quoted in the statement, the production of K5-generation trucks rose by 26.5% in 2024 compared to the previous year, totaling 6,506 vehicles.

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