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SOLLERS GROUP ANNOUNCES 2019 IFRS FINANCIAL RESULTS

Moscow, July 3, 2020 SOLLERS (MOEX stock ticker symbol: SVAV) publishes 2019 IFRS Consolidated Financial Statements.

The Group's revenue in the reporting period reached RUB 57,839 mln. In 2019, SOLLERS Group earned the net profit  of RUB 128 mln.

The acquisition of the controlling interest in Ford Sollers JV on July 1, 2019 had a significant impact on the Groups results. The increase in the revenue also due to Ford Transit sales, the launch of new options based on UAZ models, and the growth in sales of automotive components, said Nikolay Sobolev, CEO of PJSC SOLLERS.

2019 for SOLLERS Group saw strategic events: the launch of serial production of the UAZ Patriot with automatic transmission; the start of operations at the new Ford Sollers JV in Elabuga, where SOLLERS acquired the controlling stake (51%); the launch of new Ford Transit; as well as the start of Mazda SkyActiv-G engines mass production at the Mazda Sollers plant in Vladivostok.

RUB mln

2018

2019

 Variance

Revenue

 39,479

57,839

46,5%

Net profit[1]

32

128

x4

Sales, K units

2018

2019

Variance

UAZ

46,4

43,7

-2,7

Ford Transit

12,9

13,2

0,3



[1] After minority interest deduction

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