Moscow, April 29, 2022 — Sollers Auto PJSC (MOEX stock ticker symbol: SVAV) publishes 2021 IFRS Consolidated Financial Statements
The consolidated revenue of Sollers Auto Group showed a growth of 39% in the reporting period and amounted to RUB 91.7 bln. The revenue increase was due to steady demand for Ford Transit vehicles and increased sales of the Sollers Ford JV controlled by Sollers Auto. Total sales amounted to 53.2 thousand cars
in 2021.
2021 EBITDA increased to RUB 8.6 bln. The Company's net profit amounted to RUB 2.4 bln against a loss of RUB 2.1 bln a year earlier.
Sollers Auto's net debt became negative as of 31 December 2021 and amounted to RUB 5.0 bln — the cash on the company's balance sheet exceeded its borrowings.
It is worth reminding that in 2021 the Ulyanovsk Automobile Plant, the key asset of Sollers Auto PJSC, brought to the market new modifications of the LCV UAZ Profi — a model with GVW of 2.5 t and double tire-wheel version. The Company has also begun selling bi-fuel modifications of the UAZ Patriot and Pickup and has launched a subscription service for the vehicles.
Sollers Ford has launched similar digital solutions for customers, including a subscription service and Connected Car services for vehicle and fleet management. Meanwhile, in 2021 in Vladivostok, a new phase of the Mazda Sollers engine plant was launched, investments in the project amounted to more than RUB 4 bln.
|
RUB mln
|
2020
|
2021
|
Variance
|
|
Revenue
|
65 985
|
91 709
|
39%
|
|
EBITDA
|
3 197
|
8 648
|
5 451
|
|
Operating profit/(loss)
|
(517)
|
5 346
|
5 863
|
|
Net profit/(loss)
|
(2 125)
|
2 429
|
4 554
|
|
Share of JV’s results
|
(19)
|
408
|
427
|
|
Net debt
|
3 112
|
(4 973)
|
(8 085)
|
|
|
|
Retail sales, K units
|
2020
|
2021
|
Variance
|
|
UAZ
|
36,5
|
32,4
|
(11,1%)
|
|
Ford Transit
|
14,1
|
20,8
|
47,5%
|
