In the first quarter of 2016, AVTOVAZ received RUB 8.9 bln against a net loss of 796 million rubles in net profit over the same period a year earlier, it follows from the unaudited statements of the plant, the company. Revenue decreased by 19%, to 39.1 billion rubles.
AvtoVAZ suffers financial losses because of the decline in car sales: for January—March, the implementation of Lada cars decreased by 17%, to 56.8 million units, compared to the first quarter of 2015. The whole market over the same period, lost about the same.
At the end of last year as a whole, AVTOVAZ received a record net loss of 74 billion rubles, the result of which was dismissed by the President of the plant Bo Andersson. His place was taken by Nicolas Moore, the former head of the Romanian Dacia.
In the first quarter of last year, AVTOVAZ was profitable thanks to the “paper” income. Reporting the company has a 65% increase in income from the receipt of state subsidies to 5.1 billion rubles. in addition, six-fold, to 2.4 billion RUB, jumped “other income” (a transcript of this article, AVTOVAZ did not give). At the operational level, then, AVTOVAZ received RUB 81 million loss.
Sources at the company told me that to go into profit to the plant resulted in a delay in the calculation under the state program of recycling and trade-in. The program was launched in September last year by automakers, and the state compensated for their costs in the first quarter of 2015. AvtoVAZ on this program then received 2.7 billion rubles, a representative of the factory did not respond to a request .