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OREANDA-NEWS. IFRS proceeds of GAZ Group in 2014 came up to 120 billion roubles, which is 16% less than in 2013. The company associates the decrease in proceeds with the decline in the Russian commercial vehicle market, which was from 15%  to 30% in different segments. However, due to high product diversification, assembly of new products and sales promotion programs, proceeds of GAZ Group was reduced less than the market, GAZ Group’s press service comments. 

Particularly, the decrease was partly compensated with the growth in proceeds from foreign sales of the company. In 2014 proceeds from sales of GAZ Group’s products in foreign markets increased by 56% up to 7.2 billion roubles. 

17% growth in the proceeds of Ural automobile plant, got due to the enterprise’s model lineup modernization and considerable reorganization of distributing system, also had positive effect on the company’s results. 

Despite negative market situation, GAZ Group got positive EBITDA showing of 9.6 billion roubles with 8% profitability. Gross profit margin grew from 17.9% in 2013 to 18.9% in 2014.