20.05.2016
SOLLERS Group’s revenue for the year ended December 31, 2015 totalled RUB 38.3 bln. (RUB 47.9 bln. in 2014). EBITDA went down to RUB 4.0 bln. (RUB 4.3 bln in 2014). EBITDA margin for 2015 levelled at 10.5% (9.0% in 2014). Operating profit of the Group was reported at RUB 3.0 bln. Net profit was RUB 3.1 bln., which includes a surplus of RUB 2.2 bln. (option value less impairment of the investment in Ford Sollers JV).
A considerable decline of the Russian automotive market and a drop in SsangYong sales led to the Group’s revenue deterioration last year. UAZ, being the Company’s main brand, managed to considerably improve its market position and increased its share in CV and SUV (incl. pickups) segments to 24% and 5% respectively (from 17% and 3% in 2014).
“The 2015 results mainly reveal high sustainability and competitiveness of the UAZ business, which is currently the main investment priority for SOLLERS. Moreover, since the launch of the new products by Ford Sollers JV we have witnessed a steady growth in sales and considerably increased the market share of the Ford brand in Russia”, says Nikolay Sobolev, First Deputy CEO of SOLLERS PJSC.
According to Nikolay Sobolev, in 2016 the Company will focus on the renewal of UAZ model range and maximize the presence of the UAZ brand on the Russian and new export markets. Company’s management have a positive outlook on the performance of SOLLERS joint ventures and have reiterated their intention to develop the high priority investment project in the Far East aimed at the development of the Mazda brand in Russia.
