SOLLERS announces IFRS financial results for 1H2024

SOLLERS PJSC (Moscow Exchange ticker: SVAV) publishes its 1HY 2024 consolidated IFRS financials.

In the reporting period SOLLERS Group received consolidated revenue in the amount of RUB 44.1 bln vs. RUB 32.7 bln in 1H2023. The growth of revenues is due to a significant increase in production and sales of Sollers vehicles.

EBITDA amounted to RUB 4.1 bln. The company's net profit reached RUB 1.6 bln.

We would like to remind you that in 1H2024 the Company presented a new Sollers ST8 pickup at the annual industrial exhibition INNOPROM, a pilot batch of vehicles will be produced at UAZ industrial site until the end of 2024. SOLLERS continues the successful implementation of the localization program for its model range and increases production volumes of engines in Elabuga and transmissions in the Volga region.