Key Developments: Kamaz PAO (KMAZ.MM)

KMAZ.MM on Moscow Interbank Currency Exchange

9 Oct 2015
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Latest Key Developments (Source: Significant Developments)

Kamaz OAO lowers 2015 revenue guidance
Wednesday, 16 Sep 2015 08:00pm EDT 

Kamaz OAO:Sees 2015 revenue of 97.7 billion roubles.Sees 2015 net loss of 3.59 billion roubles.2015 revenue of 231.81 billion roubles - Thomson Reuters I/B/E/S.2015 net income of 6.1 billion roubles - Thomson Reuters I/B/E/S.  Full Article

Kamaz OAO sees 2015 revenue down by 9.6 pct to RUB 100 billion - Reuters
Tuesday, 8 Sep 2015 06:41am EDT 

Kamaz OAO:Sees 2015 revenue down by 9.6 pct to 100 billion roubles, general Director Sergey Kogogin - Reuters.FY 2015 revenue of 230.8 billion roubles - Thomson Reuters I/B/E/S.  Full Article

Kamaz OAO announces placement of BO-12 series bonds
Monday, 3 Aug 2015 10:59am EDT 

Kamaz OAO:Sets book building date for 5 billion rouble BO-12 series bonds at Aug. 4.Sberbank CIB is an underwriter for the placement.The placement is planned for Aug. 6.  Full Article

Kamaz OAO gives H1 forecast, plans to place bonds for RUB 10 bln in 2015 - IFX
Thursday, 18 Jun 2015 03:52am EDT 

Kamaz OAO:Expects fall in sales in Russia in H1 by 40 pct to 8,000-10,000 automobiles - CEO Sergey Kogogin - Interfax.Plans to have lower loss in H1 than previously expected - Interfax cites CEO."If we look at our business plan, our results for Q1 are better then our plans for Q1" - Interfax cites CEO.Plans to place bonds for 10 billion roubles in 2015 to finance investment programme - Interfax cites CEO.  Full Article

Kamaz OAO recommends no FY 2014 dividend payment
Thursday, 21 May 2015 11:36pm EDT 

Kamaz OAO:Says board recommends no FY 2014 dividend payment.  Full Article

Shares in Kamaz OAO rise by about 20 pct on corporate news - IFX
Tuesday, 7 Apr 2015 01:32am EDT 

Kamaz OAO:Shares rise by about 20 pct on news about Daimler AG plans to build a factory in Russia for production of Mercedes-Benz vehicles and Kamaz intention to start SKD (Semi Knocked Down) production capacity in Vietnam - IFX.  Full Article

Moody's downgrades Kamaz OAO rating
Wednesday, 25 Mar 2015 08:55am EDT 

Kamaz OAO:Moody's Investors Service has downgraded to Ba3 from Ba2 the corporate family rating (CFR) and to Ba3-PD from Ba2-PD the probability of default rating (PDR) of Kamaz.The outlook on the ratings is negative.The action concludes the review for downgrade of Kamaz's ratings, which was part of the review for downgrade of ratings of 45 Russian non-financial corporates launched by Moody's on Dec. 23, 2014.The review was prompted by the severe and rapid deterioration in the operating environment in Russia and the heightened risk of a more prolonged and acute economic downturn than originally expected.Downgrade of Kamaz's rating to Ba3 from Ba2 was triggered by deterioration in Kamaz's standalone creditworthiness, as measured by the company's baseline credit assessment (BCA), to b3 from b2 under Moody's government related issuer (GRI) methodology.That said, Kamaz's Ba3 rating continues to factor in sizeable uplift to its b3 BCA, given Moody's assumption of the probability of state support in the event of financial distress.Moody's views Kamaz as a GRI as it is 49.9 pct owned by the Russian government (Ba1 negative) through State Corporation Rosstechnologii (RosTec, not rated).The support assumption considers a RUB35 billion ($574 million) guarantee issued by the government to cover Kamaz's new borrowings to fund its capex programme.  Full Article

Kamaz OAO names Maksimov deputy general director - finance director
Sunday, 11 Jan 2015 07:00pm EST 

Kamaz OAO:Says Andrey Maksimov has been appointed deputy general director - finance director of the company.Maksimov has earlier held the post of chief accounting officer, and as of Sept. 2014 also acting deputy general director for finance of the company.  Full Article

Kamaz OAO revises 2020 strategy
Wednesday, 24 Dec 2014 07:00pm EST 

Kamaz OAO:Says its board of directors revised the company's strategy until 2020.Says the strategy was revised due to the slowdown of the Russian economy, growth of uncertainty in the world markets, and complication of the geopolitical situation.Reduces forecasted sales to 60,000-70,000 units, versus previously planned 80,000 units.Proportion of overseas sales was revised to 20-30 pct versus previously planned 25 pct.Expected revenue was lowered to the range of 230-270 billion Russian roubles, versus previously planned 350 billion roubles.EBITDA was lowered to 8-10 pct of revenue, versus 14 pct planned previously.Investments are expected in range of 60-80 billion roubles, versus 62 billion roubles planned previously.  Full Article

Kamaz OAO to assemble vehicles in Azerbaijan
Monday, 22 Dec 2014 07:00pm EST 

Kamaz OAO:Signs number of agreements for assembly of Kamaz vehicles in Azerbaijan.The assembly is expected to start in first half of 2015.  Full Article

BRIEF-Russia's Kamaz says H1 loss narrows to 695 mln rbls

* H1 loss at 695 million roubles, down from 1.5 billion roubles year-earlier

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