KAMAZ faces financial crisis with record losses and delayed recovery
Russian truck manufacturer KAMAZ has reported a steep financial decline in 2025. The company's net loss surged to 37 billion rubles, over 11 times higher than the previous year's figure. CEO Sergey Kogogin now warns that profitability remains out of reach until at least 2027. KAMAZ's financial struggles deepened last year. Revenue dropped by 2.5%, landing at 315.2 billion rubles. The net loss of 37 billion rubles under Russian Accounting Standards marked a sharp deterioration from 2024's 3.35 billion ruble deficit.
To cut costs, the company will reduce its 2026 investment programme. From June 1, employees will shift to a four-day work week if market conditions fail to improve. Management expects the truck market to stay flat, with sales hovering between 45,000 and 50,000 units. Kogogin admitted that breaking even by the end of 2026 is now the best-case scenario. Full profitability, however, is not anticipated before 2027.
The company's focus has shifted to survival rather than growth. Cost-cutting measures and a shorter work week aim to stabilise finances. With no quick recovery in sight, KAMAZ will continue operating under tight constraints for the foreseeable future.
