OREANDA-NEWS. OJSC KAMAZ published financial results for the first 9 months of 2014 under RAS. Despite the negative external environment and a decline of more than 25% in the market of heavy trucks, KAMAZ showed the results that are well above the market average.

The company's revenue for the first 9 months of this year was 70.2 billion rubles, gross profit was 13.6 billion rubles, business expenses were 9.8 billion rubles (since 2014 business expenses include a scrappage fee). As a result, the net income for the first 9 months of 2014 was 1.517 billion rubles.

Commenting on the financial results of three quarters, General Director of OJSC KAMAZ Sergey Kogogin said, "The situation on the market of heavy-duty trucks remains difficult. Now we are focusing on enhancing the company's efficiency. We have developed and implemented a comprehensive program, which allows the company to reduce costs under difficult market conditions. In addition, in order to improve the company's performance in the long term, we intend to implement a reengineering project and launch a new model range, which will result, among other things, in modern compact production. Mobilization of investment in this project is currently under way."