OREANDA-NEWS. October 27, 2009. The Bogdan Automobile Plant < LUAZ UZ U/R > has reduced its revenue by 66.73% to UAH 511.629mn in 3Q09 as compared to 3Q08. The Company's losses reached UAH 322.611mn during that period.

LUAZ revenues have plummeted by 83.13% to UAH 971.775mn in 9M09 by comparison with 9M08. The Company's losses for this period amounted to UAH 530.473mn.

Millennium Capital: such a negative dynamics of LUAZ financial performance did not come as a surprise to us. Because of a decline in demand and a cut in the output (the bus manufacture was down 90.3% y/y in 9M09, and the cars manufacture was 83,61 less y/y), the financial performance of this producer was quite easy to predict.