Group of companies ROLF announces financial results for 2012

Moscow, June 27, 2013 - Group of companies "Rolf" announces financial results for 2012

In 2012, revenue of the Group of Companies "Rolf" on international financial reporting standards (IFRS) amounted to 144.493 billion rubles, which is 25 billion rubles, or 21% more than in the previous reporting period. In 2012, the Group companies were sold 145,580 vehicles (including sales of Mitsubishi distributor in Russia of "Rolf Import", the retail division of the company, representing 14 automotive brands, as well as sales of used cars through the subdivision Bluefish), which is 16% more than in 2011.

The key events of 2012 for the Group of Companies "Rolf" began selling 51% of the logistics operator ROLF SCS Japanese company NYK, and the completion of the sale of a controlling stake in the Russian distributor of Mitsubishi Company "Rolf Import» (MMC Rus) company Mitsubishi Motors Corporation and Mitsubishi Corporation. These transactions were entered into in the long- term development strategy of the Group of Companies "Rolf."

At the end of 2012, EBITDA decreased by 45% - up to 5.334 billion rubles, compared with 2011. Net income in 2012 also showed a decline of 18% - to 3.6 billion compared with 2011. The main factor that had a negative impact on net profit and EBITDA, was the difference in exchange a pair of dollar-yen and dollar-ruble. Since the import contracts for cars Group of Companies "Rolf" concludes the dollar, the highest rate of the yen against the dollar caused the reduction in the net profit of the Group of Companies. In addition, in the first half of 2012, "Rolf" lacked vehicles due to flooding in Thailand.

Net debt of the Group of Companies "Rolf" by the results in 2012 fell by 41% to 10,803 billion rubles, compared with 2011. The decrease in net debt due to a number of reasons. First of all, the proceeds from asset sales were used to repay debt owed to creditors. Second, in the consolidated financial statements do not include debt obligations of our partners in the Group of Companies "Rolf" is a minority shareholder.

"In 2012, the Group of Companies" Rolf "showed good performance, and financial results fully meet the targets that have been identified by management of the company for 2012, - says Igor Salita, Chief Executive Officer" Rolf. " - We achieved excellent results thanks to the progressive realization of a long-term strategy of the Group, which approved back in 2011. According to the strategy, core business "Rolf" is the retail division, and we are now fully focused on his development. Accordingly, we will continue to go smoothly in the minority position in our joint projects on Mitsubishi distribution and logistics. Financial results in 2012 showed that our work on the development of retail units, in particular, the introduction of new technologies for the sale of vehicles, the revision of the principles of formation of profit from the sale of vehicles, the launch of new dealerships, expanding the portfolio of brands, introduction of new services to customers, is fully justified . "