Bogdan Automobile Plant's 9M performance beats expectations
29 October 2008
Bogdan Automobile Plant (LUAZ) published its 9M08 financial results according to Ukrainian accounting standards yesterday: net income was USD 76.6 mln (up 3.2x yoy), net revenues were USD 1.1 bln (+166% yoy), and EBITDA was USD 108.1 mln (up 2.2x yoy). Inna Perepelytsya: LUAZ’ 9M08 net income was higher than our full-2008 expectation of USD 59.4 mln. Bogdan’s growth in new cars sales was higher than the national average (+92% yoy vs. the market’s 30%) thanks to strong product positioning and a developed car distribution chain.
