20.08.2016
SOLLERS Group (MOEX: SVAV) reports its consolidated condensed IFRS financial information for the 1H2016.
SOLLERS Group’s revenue for the 6 month ended June 30, 2016 totalled RUB 13.4 bln. (RUB 15.7 bln. in 1H2015). EBITDA totalled RUB 1.46 bln. (RUB 1.79 bln in 1H2015). EBITDA margin for 1H2016 levelled at 10.8%.
Operating profit of the Group increased by 6.1% and was reported at RUB 1.3 bln., while the net profit went down from RUB 938 mln. in 1H2015 to RUB 34 mln. in the reporting period.
Net profit decline was mainly stipulated by the change in the fair value of the dollar-denominated financial instrument (put option on interest in Ford-Sollers JV) resulting from the Russian Rouble appreciation during the reporting period.
On the back of continuing vulnerability of the Russian automotive market SOLLERS Group has managed to increase its overall market share. In particular, UAZ brand market share has increased from 2.5% in 1H2015 to 3.2% in 1H2016.
