Bad expectations did not materialize. At a press conference with a boring, at first glance, the topic, the cargo holding invited journalists: “IFRS Results for 2010 and Development Strategy until 2020.” However, let's read it … Abbreviation means: international financial reporting standards. It begins to reach that, having accepted them, the car factory has become transparent like glass, and has swung at the fat foreign financial markets.
We must evaluate the background against which all this is happening.
Business people from different countries call Russia a zone of increased risks. And that's why. Russian accountants follow, of course, the canons of the tax legislation of the Russian Federation, and it has long been recognized as imperfect. But our accountants were not given other conditions, and they are forced to keep records with an eye to both the requirements of the painfully dear tax service and the assessments of financial market players. In many cases, one cannot be combined with the other, and financial players just do not fully understand what follows from the system of Russian indicators. This is how to admire the beautiful bride in the veil. Money people would be happy to “marry”: moreover, they are day and night in search of profitable investments in free capital. However, who wants to marry “into the dark”!
Even worse (and investors, having filled up the bumps, know this), the imperfection of our tax legislation provokes a lot of enterprises (experts say almost everything) to conduct “black” accounting. And it is for law-abiding "rich grooms" - like a black wart on the nose of the bride under the veil. According to D.-P. Smith, an analyst at Morgan Stanley Bank, investors "are not ready to go to the Russian market until the principles of corporate transparency are rooted in it."
After the "look"
This is KAMAZ's roots - in order to raise its own reputation. And reputation costs money, and the higher it is, the more money. After the "look" of KAMAZ indicators, investors can already weigh whether it is worth participating in the business of the enterprise and whether the risk is great.
“International investors will see,” Oleg Afanasyev, director of the KamAZ public relations department, told ZR. RU that “although we did not reach the level of profitability over the past year, we should invest in the plant: according to the results, it is moving along the development vector, he has a favorable prospect.
The auto giant that has bared its face looks very good. And his future seems good - this confirms the strategic development plan until 2020.
- If last year KamAZ assembled about 32, 000 trucks (this is more than half - 51% of the Russian car market with a gross weight of 14–40 tons), then this year it will produce almost 4, 000 more.
- By 2020, the volume of sales of cars should grow to 100, 000 units, and this is almost three times more than in the current one.
- Beginning in 2014, new model ranges of equipment will begin to appear, and by the end of the “strategic” period, these models will practically supersede obsolete ones.
These and other planned figures would have cost little if not for the main one: by the 20th year, operating profit (defined again under IFRS) should amount to 31.4 billion rubles. The shareholders of the company, it seems, will have something to share, but they are not greedy: they agreed with the investment program - to allocate 12.6 billion rubles for the development of the holding in 2020. At the same time, they are not in vain, as was said at a press conference, they hold on tightly to their shares of securities and do not intend to sell them - they are sure of significant dividends.
They were silent so as not to frighten off luck?
That's what a dramatic branch of future events the company representatives said nothing at a press conference (rather, from superstition, so as not to frighten away luck), but which the “dedicated” one will “read”.
The transition to IFRS may mean that KamAZ has taken a step towards what every self-respecting company that cares about the future is striving for - to issue an additional package of shares and put them up for auction at the largest international exchanges.