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Belarusian MAZ aims to increase output by 10% in 2020

The Belarusian automobile engineering company MAZ intends to increase the output by 10.1% in 2020, BelTA learned from OAO MAZ, the managing company of the BelavtoMAZ holding company.

Plans are in place to boost the output to 110.1%, sales to 113.4%, revenues from sales of goods, products, works, and services to 106.7%, and export by 2.6% as against 2019. “This year we aim to operate on a break-even basis and maintain the profit margin in the industry at 3.2%,” the company stressed.

In Q1 of 2020, MAZ reported growth in the key indicators: output (105.8%), sales (106.5%), and export (111%) taking into account supplies via OAO Promagroleasing, Belarus’ largest leasing operator.

In 2019, the enterprise increased the commercial output in current prices by 2.8% over 2018 to Br1.236 billion. Revenues from sales of products, goods, works, and services totaled Br1.431 billion in 2019, up by Br31.4 million, or 2.2%, over 2018. MAZ export of goods, including shipments via Promagroleasing, went up by 1.3% and reached $383.1 million. The company reported a surplus in foreign trade in goods at $33.8 million.

In 2019, MAZ made 10,733 units of products, including knock-down kits, and sold 10,437 units. The profit from sales rose by 50% over 2018 and amounted to Br45.2 million. The profit margin also increased and came at 3.2% (2.2% in 2018). “The company reported a net profit of Br33,000 for the first time in a long period,” the company stressed.