ZAZ Net Revenues Rose By 95% In 2004 To USD 822 Mn

The company’s net income increased by 153% to USD 107.3mn. Concorde Capital: ZAZ has complained that it is on the verge of bankruptcy, after the government cancelled its VAT and import tariff privileges in the 2005 state budget law. Nevertheless, the automotive producer?s Q105 output increased by 63.5% to 34,988 automobiles. The change in government policy also led to increase in car prices by 5-20%. ZAZ is 50% owned by AvtoZAZ (ZAZA) and 50% by a Swiss finance-investment company Hirsch & Cie. A majority stake of 81.59% in AvtoZAZ belongs to the Ukravto corporation.