28.08.2015
Moscow, August 28, 2015, SOLLERS Group (MOEX ticker: SVAV) releases IFRS Consolidates Interim Financial Information and Review Report as of 30 June 2015.
SOLLERS Group’s revenue for six months ended June 30, 2015 totalled RUB 15,690 mln., EBITDA – RUB 1, 790 mln., EBITDA margin – 11.4%. The decline of the Group’s revenue was largely driven by the decrease in SsangYong sales, which was partly compensated by the improvement in the sales of UAZ vehicles.
Operating profit of the Group totalled RUB 1,240 mln.
SOLLERS Group’s net profit was also influenced by the results of the joint ventures’ operations. The net effect of the 1H2015 joint ventures’ results (including the recognition of hedging instruments) was insignificant and added RUB 4 mln. to the Group’s net profit, which was a loss from the joint ventures’ operations of RUB 1,337 mln. in the respective period of 2014.
Consequently, net profit of SOLLERS Group, adjusted for non-controlling interest, amounted to RUB 940 mln.
