NEWS & EVENTS: Breaking News
03.07.2009 10:02
July 3. AvtoVAZ which reported a loss of nearly RUB 25 bn in 2008 acknowledged that it could be unable to continue operations without state support. “Without support of the government of the Russian Federation aimed at refinancing the group’s liabilities and securing additional loans… significant uncertainty could emerge in relation to the group’s ability to continue operations”, the car maker’s audited FY 2008 report says. The company announced Thursday that it received RUB 24.7 bn in 2008 against IFRS vs. RUB 3.7 bn profit in the year-earlier period. In addition, revenue climbed 2.4% to RUB 192.1 bn.
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