News and events

According to IFRS consolidated reporting 2010 SOLLERS Group made a revenue of 55.3 bln RUR that is 1.5 times higher than in 2009 (34.7 bln RUR).

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.

According to the consolidated reports the IFRS results for SOLLERS Group at the end of 2009 came to 34.7 billion roubles, which is 44% lower than the previous year.

Consolidated net profit of OJSC “SOLLERS” due to IFRS rose up to 59 million dollars over the first half of 2008 (by 20%), company income increased by 41% up to 1 262 million dollars, EBITDA index increased by 37% up to 152 million dollars.

The EBITDA index has grown by 38 % – to $ 72 million (in comparison with $ 52 million – in the first half of 2005).

According to Nikolay Sobolev, Financial Director of OAO Severstal-auto, the key factor ensuring the successful financial results of the company for the past year was the implementation of cost saving programmes at Severstal-auto enterprises.

According to the IFRS accounts, Severstal-auto’s consolidated net income for the first six months of the year increased by 21.1%, reaching $23 million.