OREANDA-NEWS. February 16, 2010. According to the preliminary data, UkrAvto net income reached UAH 5.254mn in 2009 (against 116.82mn losses in 2008). The Company has cut its short term debt by 30% to UAH 364.715mn, while increasing its long term debt by 5% to UAH 1.424bln. The total accounts receivable stands at UAH 385.745mn, or 40% down year on year.

Millennium Capital sees this news as undoubtedly positive for the Company in spite of Millennium Capital's expectations of a considerable sales decline in 2009 on the background of an across-the-board demand for passenger cars plummeting in Ukraine (by about 80%).