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12/04/2024
The former Hyundai plant in Saint Petersburg reports financial losses by the end of 2023
Following results of 2023, the revenue of Automotive Plant AGR LLC (former Hyundai Motor Manufacturing Rus) in Saint Petersburg decreased by 95% on the previous year and amounted to 2.7 billion rubles (in 2022 it amounted to 50.3 billion rubles). At the same time, the company's net loss amounted to 16.6 billion rubles against 18.8 billion rubles at the end of last year. These data are indicated in the financial statements of the enterprise, Kommersant reports with reference to Delovoy Peterburg.
Recall that the Hyundai plant in Saint Petersburg was discontinued in February 2022. At the end of 2023, Art Finance LLC, the owner of AGR Automotive Holding, has closed a deal to acquire the former Hyundai production sites in Saint Petersburg: one is located in Kamenka, the other in Shushary. On January 9, 2024, the press service announced the company's exit from downtime.
NAPI (National Industrial Information Agency)
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