20.08.2017
SOLLERS Group (MOEX: SVAV) reports its consolidated condensed IFRS financial information as of 30 June 2017.
SOLLERS Group’s net profit increased to RUB 575 mln. in 1H2017 (RUB 34 mln. in 1H2016). Revenue for the period was 19.3% over the level of 1H2016 and totalled RUB 16.01 bln.
EBITDA for 1H2017 improved to RUB 1.69 bln. (RUB 1.46 bln. in 1H2016). Operating profit of the Group totalled RUB 1.01 bln. (RUB 1.32 bln. in 1H2016).
The considerable increase in UAZ export sales, the launch of new UAZ Patriot, development of additional financial services as well as ongoing cost optimisation programme resulted in the growth of SOLLERS’ net profit in 1H2017, commented Nikolay Sobolev, the First Deputy CEO, SOLLERS PJSC.
UAZ sales on export markets more than doubled and totalled 1,911 units in 1H2017. The significant growth of export sales was due to the rebound of sales on UAZ traditional export markets like CIS countries and geographical expansion to new foreign markets.
In 2H2017 SOLLERS will improve its competitive positions on the back of continuing growth of UAZ export sales, the launch of new UAZ PROFI in the fast growing LCV segment and the development of the joint ventures, added Nikolay Sobolev.
