Ex-Toyota plant in St. Petersburg ended the year with losses

The former Toyota plant, which is located in St. Petersburg and now belongs to Shushary-Avto LLC, completed 2024 with a net loss of 434.1 million rubles. This was reported on April 1 by Delovoy Peterburg with reference to the reports on the portal of the Federal Tax Service.

It is noted that in 2023, the company's net loss amounted to 283.3 million rubles, and increased 1.5 times over the year. It attracted loans for 778.3 million rubles, which were used for site maintenance and equipment maintenance.

The company's revenue increased from 1.1 million rubles to 702.7 million. The bulk of the funds were earned from the sale of inventory, and about 64 million rubles were received due to the rental of part of the space, the note says.

At the same time, the explanatory note to the company's annual financial statements notes that the company's management "has confidence and substantial certainty in the Company's ability to continue its activities continuously." Earlier in March, it was reported that the former Toyota plant in Shushary was being prepared for deconservation.

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The ex-Toyota plant has been idle since March 2022. Prior to that, the assembly site had been operating for 15 years, it was the first car assembly plant in St. Petersburg. The Camry and RAV4 models were assembled at the plant, its capacity allowed it to produce up to 100 thousand cars per year. The closure of the plant became known in September 2022.

On June 6 last year, it was reported that an agreement on plans to launch production of premium cars at the site of the former Toyota plant was signed by Alexander Beglov, Governor of St. Petersburg, and Andrey Pankov, CEO of Aurus, at the St. Petersburg International Economic Forum (SPIEF). In November of the same year, Alexey Yakovlev, deputy head of the Committee on Industrial Policy, Innovation and Trade of St. Petersburg, confirmed that the restart of the former Toyota plant in St. Petersburg would not take place in 2024.