UPDATE 1-AvtoVAZ's year net profit rose 4 pct in 2007
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MOSCOW, Aug 5 (Reuters) - Russia's largest car maker AvtoVAZ (AVAZ.MM), in which France's Renault (RENA.PA) owns a quarter of its shares, said on Tuesday its net profit in 2007 rose by 4 percent to 3.7 billion roubles ($157.9 million).
The company said in the statement its revenue under international accounting standards increased by 4 percent to 187.5 billion roubles.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) amounted to 16.9 billion, while the EBITDA margin stood at 9 percent.
Renault agreed in February to pay $1 billion in cash plus a deferred payment in 2010 of up to $166 million dependent on AvtoVAZ's 2008-2009 earnings, for a blocking stake of 25 percent plus one share in the Russian company.
AvtoVAZ said it sold 770,000 cars last year compared to 724,000 in 2006.
According to PriceWaterhouseCoopers, the Russian auto market grew by 35 percent in terms of the number of cars and by 67 percent in terms of income in 2007. (Reporting by Anton Doroshev; Writing by Tanya Mosolova)
