Uzavtosanoat JSC to direct over 50% of revenues for dev't

Business Materials 12 September 2019 12:15 (UTC +04:00)

Baku, Azerbaijan, Sept. 12

By Fakhri Vakilov - Trend:

The net profit of Uzavtosanoat JSC obtained in 2018 amounted to 103.6 billion soums, Trend reports citing Uzavtosanoat JSC.

It is distributed as follows: 30 percent (31.1 billion soums) were used to pay dividends (including tax) on the state share of shares, 5 percent (5.1 billion soums) - to form a reserve fund, 10 percent (10, 3 billion soums) to the Innovation Support Fund, 55 percent (57 billion soums) of profit was left for retained earnings.

Retained earnings will go to the further development of the company.

The auto industry of Uzbekistan produces cars, trucks and buses. According to official data, cars of A, B and C classes (according to the European classification) are produced by semi-knocked-down kit (SKD) assembly method (according to the European classification) and D and SUV class cars are manufactured by the complete-knocked-down (CKD) assembly method.

In 2018, cars worth 18.6 trillion soums (220,670 units) were produced: A class - 76 306 units, B class - 96 969 units, C class - 33 314 units and D and SUV - 14 078 units.

In 2018, 4,707 vehicles worth $24 million were exported. The main export market is Russia - 41 percent of total export sales.

The SKD assembly method produces trucks of classes N1, N2, N3 (according to the European classification).

In 2018, 2.2 trillion soums of trucks were produced; N1 and N2 class - 2,466 units, and 1,771 units of N3 class.

There were 258 units of N1 and N2 class trucks exported for $14 million. Products are exported to Kazakhstan, Tajikistan, Afghanistan and Turkey.

In 2018, Uzavtosanoat produced ISUZU city bus types - 904 units and 45 units of MAN buses; 138 units of buses worth $ 6.6 million were exported.

At the end of 2018, 641 units of trailers and semi-trailers worth 180.3 billion soums were produced. There were 14 units of trailed-mounted equipment were exported in the amount of $1.1 million and 69 units of semi-trailers worth $ 2.4 million were shipped.

The share of the industry in Uzbekistan's GDP in 2018 amounted to 6.6 percent, in the industrial sector - 11.7 percent, payments to the budget in the form of taxes and other payments - 1.6 trillion soums.

($1- 9394.08 UZS on Sept. 12)


Follow author on Twitter:@vakilovfaxri