News and events

SOLLERS Group (Ticker: SVAV) releases Consolidated condensed interim financial information as of 30 June 2012.

SOLLERS Group (on MICEX-RTS stock exchanges a trade code is SVAV) publishes audited consolidated financial statements for 2011 in accordance with the international financial reporting standards (IFRS).

Following the results of consolidated statements under IAS of Sollers Group, its net profit for the first half of 2011 made up 897 million rubles against the loss of 1.1 billion rubles it suffered last year.

According to IFRS consolidated reporting 2010 SOLLERS Group made a revenue of 55.3 bln RUR that is 1.5 times higher than in 2009 (34.7 bln RUR).

According to SOLLERS Group’s consolidated statement (IFRS) for the first half of 2010, its sales more than doubled to 20,258 million rubles compared with 9,847 million rubles in first half 2009.

According to the consolidated reports the IFRS results for SOLLERS Group at the end of 2009 came to 34.7 billion roubles, which is 44% lower than the previous year.

Consolidated net profit of OJSC “SOLLERS” due to IFRS rose up to 59 million dollars over the first half of 2008 (by 20%), company income increased by 41% up to 1 262 million dollars, EBITDA index increased by 37% up to 152 million dollars.

The EBITDA index has grown by 38 % – to $ 72 million (in comparison with $ 52 million – in the first half of 2005).

According to Nikolay Sobolev, Financial Director of OAO Severstal-auto, the key factor ensuring the successful financial results of the company for the past year was the implementation of cost saving programmes at Severstal-auto enterprises.