Sollers Auto received 2.4 billion rubles of net profit under IFRS in 2021

Sollers Auto has published its 2021 IFRS consolidated financial statements. In the reporting period, the consolidated revenue of Sollers Auto showed an increase of 39% and reached 91.7 billion rubles. The revenue growth ensured stable demand for Ford Transit cars and an increase in sales volumes of the Sollers Ford joint venture, the controlling shareholder of which is Sollers Auto. In total, Sollers Auto sold 53.2 thousand vehicles in 2021, the company's press service reports. EBITDA grew to RUB 8.6 billion in 2021.

The company's net profit amounted to 2.4 billion rubles against a loss of 2.1 billion rubles a year before. The net debt of Sollers Auto turned negative and reached 5.0 billion rubles - cash on the company's balance sheet exceeded borrowed funds. Recall that in 2021, the Ulyanovsk Automobile Plant, the key asset of Sollers Auto, brought to the market new modifications of the LCV UAZ Profi - a model with a gross weight of 2.5 tons and a version with dual tires. The company also started the sales of dual-fuel modifications of UAZ Patriot and Pickup and launched a car subscription service.

Similar digital solutions for customers, including a subscription service and Connected Car services for driving and fleet management, were launched by Sollers Ford. Meanwhile, in 2021, a new stage of the Mazda Sollers engine plant was launched in Vladivostok, investments in the project were more than 4 billion rubles.