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Russia's Avtovaz says 2014 net loss at 25.4 bln roubles
February 12, 2015 / 4:37 AM / 3 years ago

Russia's Avtovaz says 2014 net loss at 25.4 bln roubles

MOSCOW, Feb 12 (Reuters) - Avtovaz, Russia’s largest carmaker, said on Thursday it posted a net loss of 25.4 billion roubles ($384.67 million) last year under Russian accounting standards, due to exchange losses, among others.

Russian auto sales have faltered as economic growth slowed, following Western sanctions imposed on Moscow for its role in the Ukraine crisis and a rapid decline in oil prices, Russia’s chief exports. ($1 = 66.0300 roubles) (Reporting by Lidia Kelly and Alexei Kalmykov; Editing by Prateek Chatterjee)

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