Uralvagonzavod H1 Net Loss Dropped to 35.5 M USD

Uralvagonzavod’s net loss (GAAP) in H1 2016 dropped three times to 2.3 B RUB (35.5 M USD), the TASS quotes Uralvagonzavod. The company’s revenue dropped 27.5% to 43.1 B RUB (662.3 M USD).

However, Uralvagonzavod showed a 4-times increase of its railway product sales to 2.7 B RUB (41.7 M USD).

Uralvagonzavod is one of Russia’s largest freight car manufacturers. The company also manufactures military products and construction machines. In 2015 Uralvagonzavod showed a net loss of 16.1 B RUB (247.4 M USD, three times worse to 2014) and revenue drop of 16.4% to 106.6 B RUB (1.7 B USD). The company is fully owned by the Russian Federation.