UzAuto Motors increases net profit to $339.6 million despite revenue dip

According to the carmaker's condensed financial statements compiled under International Financial Reporting Standards (IFRS), net revenue for 2025 reached nearly $4.1 billion. This marks a 3.7% contraction compared to the $4.2 billion recorded during the previous year.

This revenue contraction directly weighed on the manufacturer's primary operational metrics. Gross profit, which measures the difference between revenue and the cost of goods sold, fell by 21% to $459.7 million. Similarly, operating profit experienced a downturn, dropping from $383.3 million in 2024 to $292.5 million in 2025.

Non-operating tailwinds support net income

Despite the operational squeeze, the company's final net income climbed from $314.9 million to $339.6 million. The positive bottom-line performance was largely driven by non-operating income streams rather than vehicle sales.

Financial income, encompassing interest earned on bank deposits and bonds alongside the revaluation of financial assets, rose from $65.6 million to $94.6 million. Foreign exchange dynamics also provided a massive swing. After booking a $25.6 million loss from foreign currency fluctuations in 2024, UzAuto Motors secured a foreign exchange profit of $62.6 million in 2025.

The automaker's balance sheet strengthened over the 12–month period, with total assets growing from nearly $2.5 billion to $2.6 billion. Total equity saw a more pronounced expansion, rising from $908.8 million to $1.3 billion, bolstered primarily by accumulated retained earnings.

This summary report excludes granular details regarding physical vehicle sales, production volumes, or export distributions, which are expected to surface upon the release of the complete annual IFRS report.

Market valuation and dividend distribution

An analysis by the investment firm KAP DEPO indicates that at the current market price of UZS 53,500 per share, the stock trades at a price-to-earnings (P/E) ratio of 3.55. This multiple demonstrates how many times the company's market capitalization exceeds its annualized earnings, with a lower ratio generally suggesting a lower valuation relative to generated profits.

The company's price-to-book (P/B) ratio sits at 0.93, indicating that public markets value the automotive manufacturer slightly below the net value of its physical assets. By the close of the financial year, the book value of a single share reached UZS 57,600, exceeding its current trading price on the open market.

Shareholders received three separate dividend payouts over the course of 2025. The company distributed UZS 975 per share in January, followed by UZS 522 in July, and a substantial UZS 4,642 in November. These consecutive distributions brought the total dividend payout for the year to UZS 6,139 per share.