SOLLERS’ IFRS Results 1H2013


Moscow, August 29, 2013, SOLLERS Group (MICEX-RTS Ticker: SVAV) published its Consolidated Condensed Interim Financial Information and Review Report as of 30 June 2013. Group’s consolidated EBITDA reached RUB 3,121 mln (1H2012: 3,935 mln). SOLLERS’ 1H2013 consolidated Revenue totalled RUB 27,418 mln (1H2012: 30,967). The Group reduced its Net Debt by 8.7% to RUB 7,198 mln (Net Debt at 31.12.2012: RUB 7,880 mln). Net Profit for the period totalled RUB 1,691 mln (1H2012: 2,609 mln).
‘Given the negative dynamics of Russian auto market the Company retains high operating margin, and reports sustainable financial results of its JVs, taking into account intensive investment phase’ – commented on the results Nikolay Sobolev, the First Deputy CEO, CFO. According to Nikolay Sobolev, as a result of new product launches the Company expects to grow the Revenue in 2H2013, at the same time high operating margin will be maintained.

Thanks, !

Your message has been sent!