National Carrier (NatCar)

Performance indicators

2025: 3.6-fold annual loss growth to ₽3,8 billion

The net loss of the National Carrier increased 3.6 times in 2025 and amounted to ₽3,8 billion under RAS. The carrier's revenue reached ₽12,6 billion, an increase of 66.1%. This was reported by Interfax with reference to the company's reporting on February 12, 2026.

Gross profit increased 7.5 times to ₽529,3 million. Revenues from transportation in Russia amounted to ₽8,7 billion with an increase of 74.5%. The total cost of sales reached ₽12 billion with an increase of 60.6%. The company, established in 2023, is at the investment stage of development.

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Фото: Freepik

The press service of the JSC explained that losses are provided for by a long-term business model in the first years of operation. The Company makes investments in the launch and development of operating activities. Building a team and infrastructure is costly. Customer engagement and marketing also generate costs.

The 2025 loss was the result of exposure to the following factors:

• supply and demand imbalance in the freight transportation market;
• keeping freight rates low;
• launch of a joint LNG operation project with PJSC KAMAZ and PJSC NOVATEK;
• investment in expanding the fleet of vehicles;
• high level of interest expenses on leasing;
• high key rate CB. Market conditions

The decrease in the freight market rate negatively affected financial results. The excessive supply of transport services puts pressure on the profitability of carriers. Competition for cargo has intensified amid slowing economic activity. Customers are demanding lower rates.

Supply and demand imbalances persisted throughout the year. The commissioning of new capacities was ahead of the growth of the cargo base. Market fragmentation hinders price discipline. Big players dump to grab market share.^[1]

History

2023: KamAZ bought National Carrier JSC

In August 2023, it became known about the sale of the logistics company National Carrier by the truck manufacturer KamAZ. Its participants did not disclose the financial and other parameters of the transaction.

We acquired a logistics company - a little later... we will tell you all about this and present it. Digital services and digitalization are the direction in which KamAZ will continue to move, - quotes Interfax"" the words of the head of marketing at KamAZ Ashot Harutyunyan.

"National Carrier" sold to KamAZ

According to the news agency, National Carrier JSC was established on July 7, 2023 in Moscow. The authorized capital of the company is 1 billion rubles. The co-founder and CEO of the enterprise is the former head of the Globaltruck group Ilya Sattarov. National Carrier specializes in automotive logistics and related activities. In August 2023, the company registered two branches - in Yekaterinburg and Elektrostal.

According to a representative of the National Carrier, "the company plans to carry out activities to organize FTL transportation by road using its own fleet, as well as the resources of hired carriers." The carrier's fleet at the initial stage is planned at the level of 400 tractor couplers and semi-trailers, based on the ratio of dry (storm) and refrigerated semi-trailers in the proportion of 50/50. The company intends to work primarily on domestic Russian routes. The representative of the JSC stated that the carrier has preliminary agreements with large customers among marketplaces, in retail, in the FMCG and DIY segments.

By the end of 2023, we are planning a large demand for carrying capacity, so there is interest from customers, "he noted in a conversation with Interfax[2]

Notes