KIA Qazaqstan ended 2025 with a net loss of 5.85 billion tenge, compared to a net profit of 492.4 million tenge in the previous year. This represents a deterioration of nearly 6.34 billion tenge. This was reported by Qazaqyia.kz citing Kursiv Media.
Despite generating revenue of 28.65 billion tenge in 2025, the company failed to cover its costs. Cost of sales amounted to 28.89 billion tenge, exceeding revenue by 239.5 million tenge, resulting in a gross loss.
The company's operating loss increased nearly sixfold year-on-year, from 2.06 billion tenge to 12.38 billion tenge. This represents an increase of approximately 10.32 billion tenge, or more than five times.
One of the reasons for the deteriorating results was rising expenses. Administrative expenses surged from 1.85 billion tenge to 5.68 billion tenge – more than tripling (an increase of 3.83 billion tenge). Additionally, in 2025 the company incurred 1.99 billion tenge in selling expenses, whereas no such item existed in the previous year's report.
Other expenses also rose sharply, from 238.4 million tenge to 5.56 billion tenge, an increase of more than 23 times. In absolute terms, the increase was about 5.32 billion tenge.
However, some items had a positive impact on the financial result. Other income grew from 26.8 million tenge to 1.09 billion tenge, and profit from foreign exchange rate changes amounted to 5.12 billion tenge, compared to a loss of 658.7 million tenge a year earlier. As a result, net financial income increased from 3.35 billion tenge to 8.09 billion tenge, or approximately 141%.
According to the financial statements, KIA Qazaqstan was established in 2023. The company is engaged in the assembly and sale of Kia vehicles at a plant in Kostanay.
The largest owner of the enterprise is KIA Russia and CIS LLC, which holds 50%. Another 40% is controlled by Laurus Invest, and the remaining 10% is owned by the Social-Entrepreneurial Corporation Tobol.
KIA Russia and CIS LLC and Laurus Invest jointly control the company based on a founding agreement.
The ownership structure of KIA Russia and CIS LLC is also disclosed in the report. The company is 80% owned by Kia Europe GmbH and 20% by Kia Deutschland GmbH. Both entities are wholly owned by South Korea's Kia Corporation, which acts as a strategic partner for KIA Qazaqstan, providing technical expertise, strategic guidance, and access to global supply chains.
Earlier, Kursiv reported that Kia would discontinue production of the favorite sedan of Kazakh akims and ministers.