FG Finam analyst Leonid Delitsyn named the reason for the growth of Solar Group's

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The revenue of the Solar Group of Companies in 2023 amounted to RUB 17.3 billion. This is 36% more than in 2022 - RUB 12.7 billion. As Igor Lyapunov, CEO of the Solar Group of Companies, reported at a press conference, the company's revenue growth rate was more than twice as high as the same indicator for the Russian information security (IS) market as a whole.

"There are two georgia whatsapp resource main factors for high revenue growth rates. Firstly, we have been replacing third-party technologies with our own for two years. Secondly, by taking the role and position of an architect of comprehensive cybersecurity and implementing projects to build and subsequently operate large information security systems, we have high added value," explained Igor Lyapunov.
revenue: "The main driver of growth in the information security market in Russia is import substitution. Large players, especially those included in the contour of large holdings, gain an advantage, since clients already work with parent holdings. In addition, large companies have the opportunity to invest in R&D to respond to new threats. Solar's revenue increased by 36%, which is significantly higher than the average growth rate of the information security market as a whole. At the same time, some market players, in particular the Positive Group, reported growth in indicators at a faster rate (+75% and higher)."

Revenue growth from cybersecurity products was 50%, from cybersecurity services - 46%, from integration projects - 33%. More than 20% of integration revenue came from complex projects with high added value.

The revenue of the company's acquired and managed assets in 2023 amounted to RUB 400 million. At the same time, analysts of Solar Group believe that in 2024, revenue will show a six-fold increase due to the investment track. In addition, in December 2023, Solar Group launched a program to support startups in the field of information security and related areas, Cyber ​​Stage. By the end of 2025, Solar plans to attract financing for projects in the amount of RUB 1.5 billion and, in addition, acquire 10 companies.

"The investment development program allows us to make the most of the concept of "inorganic growth". The main points of the program are the expansion of the portfolio with our technologies with high added value in fast-growing niches and strengthening of positioning for dynamic entry into new niches and segments. In 2027, as part of R&D and M&A activity, more than half of OIBDA will be generated by our products. This means that we must very effectively and maximally take advantage of opportunities to become number one on the Russian market," said Igor Kheresh, Director of Asset Management and M&A at Solar Group.

Artem Mikhaylin, an analyst at the investment company Veles Capital, is also confident that Solar Group's revenue growth is being driven by its new products and assets: "The company is demonstrating high results, taking up an ever-increasing market share. We believe that this has been achieved through the emergence of new products and entry into additional product niches, acquisitions of other players, and the accelerated growth of the client base, including through synergies with Rostelecom. It is difficult to dispute the company's forecasts regarding multiple growth in asset revenue, as they are based on a better understanding of industry trends and internal data. But this growth may consist of several parts: growth from R&D, growth from M&A, and from general market expansion."