27.04.2012
April 27, Moscow. 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).
In the reporting period SOLLERS Group proceeds rose by 26% and made 69 531 million rubles as compared with 55 267 million rubles a year before. EBITDA reached 6 269 million rubles, which is 46% higher as compared with the last year value (4 282 million rubles). Net profit of SOLLERS was 4 694 million of rubles as compared to loss (1 240 million of rubles) in 2010. Besides, SOLLERS Group decreased net debt by 35%. As of December 31, 2011 net debt was 13 879 million rubles. At the end of 2010 this value was 21 442 million rubles.
“Last year the Company reached stable financial results thanks to a sales outrun for our key products, operating costs control and significant decrease of net debt", mentioned Vadim Shvetsov, SOLLERS General Director. According to Vadim Shvetsov in 2012 SOLLERS will gain ground due to further sales growth of UAZ and SsangYong brands and active development of a joint venture Ford SOLLERS as well as launching of joint projects of MAZDA and TOYOTA LC PRADO manufacture in Vladivostok.
