Sollers swings to 4.5 bln rbl IFRS net profit in 2021

MOSCOW, Apr 29 (PRIME) -- Russian car producer Sollers posted a 4.545 billion ruble net profit in 2021 against a 1.745 billion ruble net loss in 2020, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on Friday.

Revenue gained 39% to 91.7 billion rubles as demand for Ford Transit cars was consisted, resulting in an increase of sales of joint venture Sollers Ford, the company said.

Net debt became negative and amounted to 5 billion rubles as the company’s own funds exceed borrowing in its books. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew to 8.6 billion rubles.

(72.2953 rubles – U.S. $1)

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