VTB Demands from Perm Dealer Repayment of Credits in Court
OREANDA-NEWS. Holding "Ex Auto", which announced recently the sale of its real estate, received a claim from the bank "VTB".
According to the newspaper "Kommersant", "VTB Bank" appealed to the Arbitration Court of Perm Region with a claim for recovery of 104.4 million Rubles from the companies that are the part of holding "Ex Auto" - LLC "NEXT cars", LLC "Saneks Auto", "Espanyol Auto" Ltd., "Franeks Auto", as well as the parent company. Together with the claim, the Bank from St. Petersburg has made a statement about its welfare. According to the website of the arbitration, lawsuit was accepted for production, the meeting is scheduled for March 5th, the court refused to provide the welfare.
In January, "Ex Auto" put up for sale seven of its dealers for a total sum of almost 0.6 billion Rubles (578 million Rubles). "Ex Auto" is considered as one of the largest and fastest-growing automotive holdings of Perm. The company sells cars Kia, Skoda, Volkswagen, Mitsubishi, Ford, Lada, UAZ, Fiat, Nissan, SsangYong, Peugeot, Datsun, and cars with mileage, it sells parts and service. According to SPARK-Interfax, in 2013 the revenue of "Ex Auto" was 2.9 billion Rubles, the net profit of 97 million Rubles, LLC "NEXT Auto" - 349 million Rubles (5.5 million Rubles of net profit), LLC "Saneks Auto" - 669 million Rubles (4.9 million Rubles of net profit).
This Avtoholding started to develop actively after the crisis of 2008 - the company made several dealer agreements, acquired showrooms of bankrupt dealers ("Vehicle yard", "Forward-Garant"), as well as it built in the Kama Valley the dealer "village" from several showrooms. Now the holding's portfolio includes 12 brands. Last year Permian media reported about the interest of the holding to the premium segment - Jaguar and Land Rover.
Financial claims of bankers to auto dealers were common in the crisis of 2008 - the majority of dealers have been built on borrowed funds, after the fall of sales not all dealers were able to pay with banks. Some Permian dealers, faced with falling demand, included in the bankruptcy proceedings, legal entities have been eliminated but the players themselves were still in the market. The exception was Avtoholding "Vehicle Yard," which left the market of sales of new cars.
Today the market is going through another downturn. According to the agency "AUTOSTAT", the drop in sales in the Perm region was 13% for 11 months. The interviewed Permian dealers say that now they do not have serious credit that could disturb them. "Everything is normal, all our commitments we do," - said the General Director of "UralAvtoImporta", Sergei Shaklein. The CEO of Toyota and Lexus in Perm, Anna Boyarshinova, said that the situation with the financial burden has become significantly better than in 2008: "We pass stably 2015 and 2016".
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