Wednesday, March 1, 2017

Avtovaz annual report 2016

Avtovaz, 2016, annual, front page

For the report in full please go here and to read my previous summary please click on Avtovaz annual report 2015 and to find out more regarding Avtovaz then please visit Analysis of Avtovaz 2016.

No, new news under the sun for Avtovaz. Interestingly enough the share price peaked at 1.4 € not that long ago but since I no longer check in on my stocks every day or week for that matter I simply missed the good opportunity to sell my shares without a too significant loss. Oh, well, occasions seems to come and go fairly frequently.

They did actually manage to push up their sales compared to 2015 which is very good news. Due to that they still have to import all the parts to get them in a sufficiently high quality their costs are unfortunately very high for putting the cars together and they are pushing market share like crazy. It is a true disgrace that such a natural resource rich country as Russia are not able to offer proper steel for their automotive industry. Bottom line Avtovaz made a loss of 44 billion RUB which should be compared to almost -74 billion RUB last year. What still makes me over the top excited is the equity that is at -58 billion RUB.

Financial statement for Avtovaz 2016

Conclusion: Avtovaz still have not managed to sort things out but it is impressive that they managed to increase their sales even further last year, a year, that was filled of uncertainty and crashed oil prices which made Mother Russia take a serious beating which always makes people spend less. I do like that the cost of sales have not gone of any further. I will remain a grumpy shareholder.

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