SOLLERS Group (MOEX: SVAV) reports its consolidated IFRS results as of 31 December 2017.
SOLLERS Group’s revenue for the year ended December 31, 2017 totalled RUB 35.8 bln. (RUB 35.6 bln. in 2017). EBITDA amounted RUB 3.4 bln. (RUB 3.9 bln. in 2016).
Operating profit of the Group was reported at RUB 1.8 bln. (RUB 2.3 bln. in 2016). Net profit decreased to RUB 1.0 bln. in 2017.
“2017 SOLLERS financial results are mainly influenced by the reduction of UAZ sales due to the volatile Russian auto market and gradual contraction of state direct support measures”, comments Nikolay Sobolev, First Deputy CEO of SOLLERS PJSC.
Ulyanovsk Automotive Plant remains the Company’s investment priority, where SOLLERS plans to develop the existing model range and to launch brand new platform. Last year we witnessed a substantial growth of Ford retail sales and positive trend in the profitability, indicating the efficiency of the strategy developed for the Russian market, which will continue in 2018.
2017 SOLLERS Financial Results Overview
