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Shareholders of Neftekamsk Automobile Plant Sum up Year-End Results

June 17, 2014



ENP Newswire - 17 June 2014

Release date- 05062014 - JSC Neftekamsk Automobile Plant, KAMAZ's subsidiary in Bashkiria, held an annual general meeting.

The company broke even in 2013. It got a net profit of 1.2 million roubles. 32.83 thousand roubles of this sum will be bonuses paid to members of the company's auditing commission. The rest part of the net profit (1.17 million roubles) remains undivided. The meeting decided not to pay dividends by a majority vote.

Proceeds of Neftekamsk Automobile Plant for 2013 exceeded 9.4 billion roubles - by 6% less than in 2012. The share of shipped dump trucks - the company's main products - went up by 0.7% y-o-y, and business plan indicators grew by more than 11 percent. According to the results of the principal activity for 2013, a profit on sales formed 401 million roubles. 116 million roubles were allocated to realize investment projects in the year of account.

More than 11,860 dumpers, over 2,860 towed vehicles, about 1,090 tank trucks were shipped for 12 months. More than 660 passenger buses and 765 crew salons were also shipped.

Independent consultant Alan Frederick Spencer was replaced by Denis Kulikov, executive director of the Investor Protection Association, in the new board of directors. The rest six members of the board maintained their positions: they are Aleksey Karpukhin, Minister of Industry and Innovation Policy of Bashkiria; Sergey Kogogin, Director General of KAMAZ; Anton Saraykin, Director of Economic Department of KAMAZ; Oleg Ershov, Director General of Leasing Company KAMAZ for Sales and Service; Raif Malikov, Independent Business Consultant (the former head of Neftekamsk Automobile Plant); and Nikolay Pronin, Director General of Neftekamsk Automobile Plant. Sergey Kogogin became the chairman of the board.

In addition, the shareholders approved a contract of directors', board members' and the general director's liability insurance. The insurer is Rosgosstrakh, the insurance payment is $3 mln, the insurance premium is less than $18 thousand roubles. The contract is valid till May 31, 2015. It is noteworthy that in 2013 the insurer was IC Allianz.


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Source: ENP Newswire


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