Companies

Bohdan Motors (LUAZ)

Business Profile

Bohdan Motors is Ukraine’s second largest car producer with a 25.6% share of domestic car production in 2010. The company produces cars under the VAZ and Hyundai brands and assembles trucks based on Chinese and Japanese kits as well as buses from Isuzu kits. In June 2008, LuAZ launched a new CKD assembly car plant in Cherkasy and a new bus plant in Lutsk with annual capacity of 120,000 cars and 6,000 buses, respectively.

Financial Summary

Indicator200920102011E2012E2013F
Sales ($m)170254************
EBITDA ($m)(52)11************
Net Income ($m)(99)(34)************
Net Debt ($m)361357************

Valuation Summary

Indicator200920102011E2012E2013F
P/Eneg.neg.************
P/Sales0.560.37************
EV/EBITDAneg.39.9************
P/Book0.440.52************
Prices are quoted in UAH.


*Data available to Dragon Capital's institutional clients only.