Belarusian engine manufacturer MMZ's export over 17% up in H1 2023

The Belarusian engine manufacturer Minsk Motor Plant (MMZ) increased merchandise export by over 17% in H1 2023, the company's press service told BelTA.

The holding company is expected to hit all the key performance targets set by the Industry Ministry for January-June 2023. The energy-saving indicator totaled minus 3.5% while the target was set at minus 2.5%. In January-June 2023 MMZ increased export by 17.3% while the target was set at 6.7%. The growth rate of investments in comparable conditions reached 101.4%. The profit margin of the manufacturing sector is expected to reach 12.3%, with the target at 9.3%.

In addition to key performance targets the company also accomplished a number of social and economic development goals specified by the business plan. The company made nearly 26,000 engines, 102.1% as against the same period of last year. All the manufactured products are shipped to consumers.

The nominal average monthly wage is close to Br2,010.

The geography of product sales (including spare parts) includes 18 countries: Belarus, Russia, Kazakhstan, Uzbekistan, Azerbaijan, Moldova, Georgia, Czechia, Bulgaria, Germany, Hungary, Lithuania, Pakistan, Poland, Zimbabwe, Mongolia, Togo, and South Africa.

The share of sales in the Republic of Belarus amounted to 66%, with the export share at 34%. Russia accounts for 87.6% of the export shipments, with the shares of CIS states and non-CIS states at 6.2% each.

MMZ operates a well-developed distribution network. Countries of the European region as well as promising markets of Africa, Asia, and Latin America are in the sphere of the company's interests.

The distribution network has been intensively developing in promising markets this year. New dealership contracts have been signed with companies specializing in selling engines and spare parts for agricultural machines in Russia, Kyrgyzstan, Azerbaijan, and Bulgaria.

At the beginning of the year MMZ signed a promising contract, which may evolve into something bigger, and shipped a batch of engines for manufacturing special-purpose vehicles to a Hungarian company. The opening of proprietary distribution network outlets in Kazakhstan and Uzbekistan this year allowed MMZ products to earn recognition as high-quality products. The volume of sales increased considerably, securing MMZ's position on these markets.

Minsk Motor Plant (MMZ trademark) makes diesel engines, gas and diesel engines, and gas reciprocating engines. It has started making diesel generators and movable compressor stations, special-purpose machines. The engines are shipped to assembly lines of over 50 enterprises in Belarus, Russia, the CIS states, and non-CIS states. MMZ will celebrate the 60th anniversary of its foundation on 23 July 2023.