UzAuto Motors sees 65% profit increase despite a decline in assets

According to the Unified Corporate Information Portal, UzAuto Motors' profit grew by two-thirds in the first half of the year.

In January-June, the automaker's profit amounted to 1.91 trillion UZS, which is 65.2% higher than the same period in 2023.

UzAuto Motors' revenue reached 23.42 trillion UZS (an increase of 6.4%), while the cost of goods sold amounted to 18.97 trillion UZS (a decrease of 1.1%). Gross profit increased by half, reaching 4.4 trillion UZS.

In the first half of the year, retained earnings grew by 28.8% to 8.54 trillion UZS, and equity capital increased by 21% to 11 trillion UZS.

Despite the growth in profit, revenue, and equity capital, the automaker's assets decreased by 11.8% — from 36 to 31.85 trillion UZS.

In the first quarter, UzAuto Motors demonstrated nearly a fivefold increase in net profit, reaching almost 1.3 trillion UZS.

At the end of December last year, the state-owned company contracted 171,000 vehicles of the Cobalt, Damas, and Labo models — the entire production volume for 2024. Additionally, in the spring, the company offered 42,000 Labo LB2 Plus and Damas vehicles for online sales, which were contracted in less than an hour.