06.10.2010
According to SOLLERS Group’s consolidated statement (IFRS) for the first half of 2010, its sales more than doubled to 20,258 million rubles compared with 9,847 million rubles in first half 2009. EBITDA was 666 million rubles in January–June 2010, compared with a negative value (−711 million rubles) a year before. SOLLERS’ net loss was 1,259 million rubles in first half 2010, 2.5 times less compared with the same period in 2009. The company also managed to reduce net debt from 23,205 million rubles in 2009 to 22,629 million rubles as of June 31, 2010. According to Nikolay Sobolev, first deputy CEO of OAO SOLLERS, SOLLERS Group’s vehicle sales growth surpassing the overall market recovery dynamics, measures to cut expenses and the reduction of debt service losses will allow the company to reach its targets and significantly increase sales and profitability by the end of 2010.
