OREANDA-NEWS. "GAZ Group" by the results of 2015 received 121.2 billion rubles of revenue according to IFRS, which is more by 1% than in 2014 year. As it was noted, the general decline in sales was partially compensated by an increase in sales volumes of new products that are in a higher price segment, compared with the classic model range. The positive impact on the result was also made by a 42-percent revenue growth from the company's sales in the CIS countries. As a result, despite a significant decline in the Russian market in 2015, which was approximately 30% in the segment of light commercial vehicles and four-wheel drive heavy trucks and almost 20% in the bus segment, revenues remained almost at the level of 2014.

Due to the expansion of the product line, "GAZ Group" increased its share in the main segments in the Russian market: in particular, the share of the bus market increased from 75% to 80% in 2015, in the segment of average tonnage vehicles - from 56% to 71%, in the micro bus segment - from 21% to 35%.

In the reporting period, the company reduced the loss by 8% - from 2.1 billion rubles in 2014 to 1.9 billion rubles in 2015. The main reason for the formation of the loss - is the rising of costs of materials and components, the impact of exchange rate changes on cost, high cost of credits.

To reduce the negative impact of macroeconomic factors, the company continued in 2015 the implementation of the cost reduction program, which includes a review of the rules of materials costs, optimization of production processes and logistics, energy costs, etc. The economic impact for 2015 was about 6 billion rubles, which corresponds practically to the volume of the investment program of the reported year.

Thanks to program of efficiency rising in 2015, "GAZ Group" in terms of crisis increased the EBITDA indicator by 3% (from 9.6 billion rubles in 2014 up to 9.8 billion rubles in 2015).

As the president of "GAZ Group", Vadim Sorokin, noted, in the last year there were appeared new vehicles of brand GAZ, "Ural", buses LIAZ that are gaining surely the popularity among consumers. "Creation of new products allows us to go into new market niches and attract new customers in the fierce competition in a falling market. Today, the market also has problems associated with the high cost of credit resources and the deterioration of the financial position of users of commercial vehicles. Due to the increased cost of components, materials, energy, the cost of automotive products increases. In 2015, despite the negative impact of macroeconomic factors, "GAZ Group" managed to reduce losses and reduce the loan portfolio. This year we also plan to respond consistently to the economic challenges by the updating of the model range, cost reduction and development of exports. We are working in these areas by specific targets that were set for 2016: reduction of the costs by 5 billion rubles, an increase of market share by 15% and increasing of the share of revenues from export sales up to 25% ", - said the president of "GAZ Group".