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Main article: "Solar"
2024: Revenue of Solar Group in 2024 increased by 53 %
The Solar Group of Companies on April 10 published its consolidated statements for the past three years. According to the group, its revenue in 2024 increased by 53% year-on-year and amounted to 22.3 billion rubles. OIBDA almost doubled and reached 5.4 billion rubles in 2024 due to the focus of the group's companies on operating efficiency and the outstripping rate of revenue growth over operating expenses.
OIBDA margin increased by 5 pp yoy to 24% in 2024 compared to 19% a year earlier.
The group's net profit for 2024 amounted to 1.3 billion rubles. It should be noted that this year the company made its first profit in three years. In 2023, she had a loss of 600 million rubles, and in 2022 - 1.2 billion rubles.
Revenue growth in the last three years was slightly more than 50%: in 2022, revenue reached 9.7 billion rubles, in 2023 - 14.5 billion rubles, and in 2024 reached 22.3 billion rubles. Moreover, the share of recurrent revenue (repeated sales to its own customers) amounted to 50%.
The company managed to achieve such growth indicators against the background of expanding demand for information security services (IS) in Russia and an increase in the number of customers. By the beginning of 2025, the company has more than a thousand customers. However, at the moment, the bulk of the company's sales (80%) are services, which are characterized by recurrent revenue, since customers need to constantly renew contracts.
It should be noted that when comparing the dynamics of revenue with public companies, Solar is second only to Astra Group, which in the reporting indicated an increase of 80%. ArenaData also achieved a comparable indicator (an increase of 52%). When asked by TAdviser whether the publication of consolidated statements, especially in comparison with the performance of public companies, is preparation for entering the public market, Igor Lyapunov, CEO of Solar, said:
 | As a fast-growing company and a mature business, we do not exclude any market opportunities, including entering the capital market. |  |
The company also said revenue growth from Solar JSOC monitoring services doubled in 2024. Moreover, the number of Solar MSS clients increased by 12% and the share of connected Solar MSS clients among all customers increased by 17%.
The company is also expanding its product portfolio - during the reporting period, 8 products received new versions, and 5 of them were certified by FSTEC. In particular, in May, Solar launched its long-awaited product PAC NGFW, which was one of the first to pass the certification procedure. The company now has 11 more new products in development, which are scheduled to launch in 2025-2027. In the near future, it is planned to release its own SIEM, the basic technology for which was developed by Hephaestus Technologies.
The strategy for 2025 "Solar" laid down the strengthening of its positions in the main business segment of information security services with the simultaneous development of the product portfolio and the expansion of the product base. The company expects to achieve these goals by further improving business efficiency and controlling costs. In particular, to further reduce the debt burden, that is, such an indicator as the ratio of net debt to OIBDA, which in 2024 amounted to 2.3.
Earlier, the head of Solar Igor Lyapunov reported that the company intends to continue the strategy of M&A transactions, despite the difficult economic situation. In the first and second quarters of 2025, several transactions are planned to be completed. Lyapunov said that the company will pay increased attention to asset valuation before concluding new agreements.
In 2024, the Solar Group continued its systematic work on the development of new products and solutions, including by investing in the company's growth strategy in complementary niches of the information security market. In 2024, the group acquired:
- Share in Secure-T, an educational information security platform;
- 100% of the Digital Security group, a provider of information security audit and penetration tests (penetration tests);
- 10% in the company Luntry, the developer of container protection tools Kubernetes (the deal is closed by the venture capital fund Solar Ventures);
- 51% in Elvis-Plus, a system integrator in the field of information security (as a result of the transaction, Solar's share in the company's capital increased to 100%).
According to the company, the level of customer costs for cybersecurity solutions in 2024 remained at the level of 2023. Lyapunov noted that the budgets for these technologies were formed according to a conservative scenario, but there was no significant reduction in investment. He added that Solar continues to implement programs to develop its own technologies and invests in the creation of new solutions.
Answering a question about personnel policy, Lyapunov said that the company does not plan mass reductions in 2025. He clarified that some of the employees can be redistributed within the framework of internal investment projects, but the overall level of employment will remain stable.
2023
6th place in the ranking of TAdviser "The largest providers of information security solutions in Russia"
Solar took 6th place in the ranking "The largest suppliers of information security solutions in Russia," prepared by TAdviser in December 2024 on the basis of companies' revenues from the implementation of projects in the field of information security in Russia for 2023. Read more here.
Entry into the top five largest European cybersecurity service providers by revenue
Solar entered the top 5 European cybersecurity service providers (MSSP, Managed Security Service Provider) in terms of business volume for 2023. This is evidenced by the data of the analytical company iKS-Consulting, which became known in early June 2024.
Revenue from Solar cybersecurity services (excluding projects within PJSC Rostelecom) in 2023 amounted to 6.9 billion rubles, or 75 million euros at the average exchange rate for 2023. In addition to Solar, the top 5 European MSSPs include companies:
- Thales (France);
- Orange Cyberdefense (France);
- Kudelski Security (Switzerland);
- Mnemonic (Norway).
The same service providers are represented in the top 15 MSSPs worldwide along with organizations from the USA, Singapore, China, Canada, Saudi Arabia and Brazil.
Analysts at iKS-Consulting compiled an MSSP rating based on the official reporting of companies and data about them in the media. The companies were selected from the top 250 MSSPs 2023 Edition CyberRisk Alliance list by revenue level. At the same time, only revenues from cybersecurity services were taken into account - in recalculation by euros at the average annual rate.
| | According to research, Russia accounts for only 1% of the global information security market, while the cost of cybersecurity services in our country is much lower than, say, in Western and several Eastern states. Taking into account these two factors, 5th place in the European and 15th in the global MSSP player rating is more than a worthy result, "said Vladimir Dryukov, director of the Solar JSOC Solar Group Cyber Attack Counteraction Center. | |
The service area of Solar Group includes the Solar JSOC cyberattack counteraction center - the first and largest commercial SOC in Russia. In 2023, the Solar 4RAYS Cyber Threat Research Center was launched, which accumulates the largest cyber attack knowledge base in the Russian Federation, comparable in volume to the databases of world leaders in the direction of information security analytics.
Revenue growth by 36%, to 17.3 billion rubles
On April 23, the Solar Group of Companies reported on the work done in 2023, showing revenue growth to 17.3 billion rubles, which is 36% more than in 2022. This is more than 2 times higher than the average growth in the Russian information security market in 2023, which the company estimates at 14.7% - from 125 to 143 billion rubles.
Interestingly, the Solar Securities company, which is part of the Solar group and in respect of which US sanctions were imposed, also showed revenue growth: according to the Federal Tax Service, up to 3.9 billion rubles, that is, by 38.3% compared to 2022. Moreover, its cost of sales fell to 1.2 billion rubles, or 39.1%, and a loss of 1.3 billion rubles was replaced by a net profit of 894 million rubles.
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The growth of total revenue for cybersecurity products in the group of companies amounted to 50%, for services - 46%, from integration - 33%. Moreover, the share of complex projects in the revenue structure amounted to 20%, and the number of clients exceeded 1000 companies, which include key infrastructure of the country and the most important sectors of the economy (transport, metallurgy, banks, electricity, telecom).
Solar also published information on OIBDA. There is an increase to 5.6 billion rubles, or 46% compared to 2022. This, according to Solar experts, is due to an increase in the share of own products in the group's sales structure, as well as an increase in added value in complex projects. Solar already has a wide portfolio of products and services in areas such as data and network protection, secure development, access control, Solar JSOC, Solar MSS and others. However, the company is actively engaged in both the inclusion of Russian developers (an example of Elvis-Plus) and the development of startups under the Cyber Stage program, which already includes Beer Pass, Web Defense, Kodera, CtrlHack and In-Sec.
Read more about Rostelecom's IT ecosystem here.
The largest commercial SOC in the country - Solar JSOC - analyzes more than 200 billion information security events per day. It is he who mainly fights off cyber aggression from Ukraine, since according to Igor Lyapunov, General Director of Solar Group, three-quarters of the priority goals of Ukrainian hackers are protected by Solar JSOC. The collection and processing of the data obtained at the same time provides all companies of the group with a unique expertise on events in the cybersecurity market and on the "dark side" of the Internet.
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Solar is not going to stop there and plans to enter the service market for small and medium-sized businesses with its new SolarCloud product in the near future. With its help, small companies will be able to use the services of cloud protection of their web resources, mail communications and even a system for developing web applications based on CMS. It is assumed that this will reduce the number of attacks through contractors, which have become popular recently.
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Solar also plans to launch its own product on the market - an EDR solution that will help investigate incidents and improve protection against malicious activity.
In 2023, the number of incidents increased by 64%. 40% more companies faced DDoS attacks, 21% more sites for organizing phishing attacks. The average DDoS capacity in 2023 did not exceed 1 Gbps. Although already in the first quarter of 2024, on the day of the presidential elections in the Russian Federation, a DDoS attack with a capacity of 2.7 TBit/s was carried out on one of the state information systems. However, these attacks had no serious consequences. At the same time, most commercial companies use Internet connection channels up to 100 Mbps (0.1 Gbps) wide.
| | Attacks on supply chains are one of the main trends in the market in 2023, "Vladimir Bengin, director of product development at Solar Group, explained for TAdviser. - It is divided into attacks through the contractor's infrastructure and through third-party libraries, which, as a rule, are supplied with open source codes. Attacks on the supply chain through the contractor's infrastructure are all about privileged performance control systems, secure remote access, identification, endpoint control, and remote connectivity infrastructure. Everyone knows about the need to implement secure code development, but most say that we are not doing this, since we are not developers. However, now everyone is a developer, because everyone who rents out a site uses open libraries, and they also need to be checked for security. | |
Secure site development is a process where a site is developed from proven components and constantly checked for new vulnerabilities in third-party libraries. If vulnerable libraries are found in the assembly, then the web designer will be advised to abandon dangerous components or build a full-fledged protection system. Some of these checks can be transferred to the cloud and provided as services through SolarCloud.
Solar Group plans for 2024-2025 also include expanding the geography of providing its solutions and services in 10 countries, including the Middle East and Southeast Asia. Solar experts see a high demand for Russian information security development on the world market, which is formed thanks to the successful experience of repelling the most complex cyber attacks and the development of import-substituting solutions in a short time.
2022
1st place in the TAdviser rating "The largest providers of information security outsourcing services in Russia"
Solar took 1st place in the ranking of the largest providers of outsourcing information security services in Russia, prepared by TAdviser in March 2024 based on the companies' revenue from the relevant services for 2022. Read more here.
5th place in the ranking "The largest providers of solutions in the field of information security in Russia"
Solar took 5th place in the TAdviser rating, prepared on the basis of revenue from the implementation of information security projects in Russia in 2022 and published in October 2023. The rating includes vendors, integrators and distributors of information security products. More 2022:_TAdviser_Security_100:_.D0.9A.D1.80.D1.83.D0.BF.D0.BD.D0.B5.D0.B9.D1.88.D0.B8.D0.B5_.D0.98.D0.91-.D0.BA.D0.BE.D0.BC.D0.BF.D0.B0.D0.BD.D0.B8.D0.B8_.D0.B2_.D0.A0.D0.BE.D1.81.D1.81.D0.B8.D0.B8 here.
Losses - 1.25 billion rubles
At the end of 2022, RTK-Solar received a net loss of 1.25 billion rubles, while a year earlier it recorded a profit of 1.19 billion rubles. The revenue of the developer of information security solutions in comparison with these segments of time decreased by 40%, to 2.87 billion rubles. Such data were released in May 2023.
2020: Inclusion in the TAdviser rating "The largest suppliers of information security solutions in Russia"
The company Rostelecom-Solar included in the rating "The largest suppliers of information security solutions in Russia" by revenue for 2020, "prepared by TAdviser in October 2021. Read more here.
2016: Revenue of RUR 361 mln
According to the Kontur. Focus database, in 2016, Solar Security's revenue amounted to about 361 million rubles.
2014
In 2014, the total sales of Dozor-Jet, JiVS, Jet inView IdM and JSOC services within the framework of the Jet Infosystems business amounted to 768 million rubles. Solar Security in 2015 plans to increase the sales rate of its products and services to 1.1 billion at the prices of the end consumer. Including due to the growth in the number of sales, the expansion of the partner network and, accordingly, the customer base, as well as the expansion of its presence in the markets of power, government organizations and retail.
| | Firstly, the division of businesses will allow us to concentrate our efforts on products and expanding the product portfolio, "commented Igor Lyapunov, CEO of Solar Security. - And secondly, our key feature is a new business scheme for the Russian information security market. We have transformed the classic model of the software manufacturer into a service provider model (MSSP), when the client is provided not with separate software or equipment, but with a holistic business function. This model will allow us to ensure the targeted use of security technologies with their exact adjustment to the tasks of each client. This significantly increases the return on security technologies. | |
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