Moscow, August 30, 2021 – SOLLERS Auto (MOEX stock ticker symbol: SVAV) publishes 1H2021 IFRS Consolidated Condensed Financial Information
Group revenue reached RUB 36.8 bln. in 1H2021 vs. RUB 23.1 bln. in 1H2020. The 59% growth in revenues is due to vehicle sales increase of Ford Transit up to 8.3 K units (+87%) and UAZ vehicles – 13.2 K units (+7%).
EBITDA tripled in the period up to RUB 3.4 bln. Net profit attributable to the equity holders amounted to RUB 277 mln. vs. loss of RUB 1.2 bln. the year earlier.
“We consider SOLLERS Auto first half 2021 financials as positive: macroeconomics rebound and Russian auto market recovery drove market position improvements for our brands: Ford Transit increased the market share to 18%. We introduced new digital services for our clients including vehicles’ subscription and car connectivity services”, said Nikolay Sobolev, OJSC Sollers Auto CEO.
In 1H2021 UAZ launched new LCV UAZ Profi with double tire wheel and bi-fuel Patriot and Pickup versions. UAZ develops digital services: vehicles subscription and UAZ Connect for retail clients.
In January 2021 Sollers Ford JV announced the engine plant acquisition from Ford Motor Company to launch the production of Ford Transit diesel engines. The JV also launched the subscription service for Ford Transit vehicles.