SOLLERS PJSC ANNOUNCES IFRS FINANCIAL RESULTS FOR 2024

SOLLERS PJSC (Moscow Exchange trading code: SVAV) has published consolidated IFRS financial statements for 2024.

During the reporting period, the SOLLERS Group received consolidated revenue of 91.8 billion rubles, compared to 82.3 billion rubles in the previous year.

EBITDA amounted to 6.9 billion rubles. The company’s net profit reached 3.7 billion rubles.

“Based on the results of 2024, the SOLLERS Group demonstrated positive dynamics in financial results, largely due to the stable operation of production sites in Ulyanovsk and Yelabuga, and the overall increase in vehicle sales. We expanded the Sollers brand portfolio and entered new market segments: we established bus production in Vladivostok and launched truck production at a new site in Ulyanovsk. At the same time, we have started the production of gearboxes in Zavolzhye and are preparing to launch new capacities, continuing the transition to a local component base,” noted Nikolay Sobolev, CEO of SOLLERS PJSC.

Let us recall that in 2024, the SOLLERS Group began mass production of the Sollers SA9 and SA6 tourist and intercity buses at the AIT site in Vladivostok, as well as a wide range of Sollers TR medium-duty trucks at the SOLLERS Comtrans plant in Ulyanovsk. The company localized the production of key components and assemblies for the Sollers and UAZ lines: six-speed gearboxes at the ZMZ site in Zavolzhye, automobile frames in Ulyanovsk, and announced the launch of a project to organize production of stamped body parts. In addition, as part of the Sollers Product Day product presentation, plans were announced to significantly expand the Sollers product range and update the UAZ model range in 2025.