Joyson Safety Systems (JSS)

Performance indicators

2024: Annual revenue growth of 40% to ₽5,4 billion

The Ulyanovsk plant Joyson Safety Systems, which produces airbags for cars, increased revenue by 40% in 2024, bringing this figure to ₽5,4 billion. The growth is associated with the restoration of the local auto industry and the expansion of supply volumes. The financial results of the enterprise were published in March 2025 after its consolidation by the Russian MGC Group.

A third of the company's revenue (₽1,7 billion) came from the production of airbags, the same amount from the production of steering systems. The production of seat belts accounted for only ₽193,9 million. The rest of the turnover was formed by trading operations (₽1,4 billion) and work (₽361,5 million).

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Фото: Freepik

The main customer of the products of the Ulyanovsk enterprise is AvtoVAZ, which in 2024 accounted for more than 90% of the company's revenue. The automaker in 2024 increased the production of Lada cars by 40.5% to 525.525 thousand units, which directly affected the growth of the supplier of components. Small batches of the company's products were also supplied for Aurus, NAMI and the AGR car factory.

According to the published financial statements, the cost of sales of Joyson Safety Systems for 2024 amounted to ₽4,4 billion, which is 43.6% more than in 2023. The gross profit of the enterprise reached ₽1 billion, an increase of 26%. The company's net profit rose 14.6% to ₽627,9 million.

According to the publication, the company's reserves at the end of the reporting period increased to ₽819,5 million (+ 55.5%), and receivables amounted to ₽1,76 billion, which is 70.9% more than a year earlier. The total debt of the plant for 2024 increased by 39.4% to ₽1,5 billion. At the same time, accounts payable doubled and exceeded ₽1 billion^[1]%

2023

In 2023, the revenue of Joyson Seyfty Systems Rus LLC increased by 86.4% compared to 2022, and net profit increased 2.4 times.

History

2024: Ulyanovsk MGC Group buys Russian business Joyson Safety Systems

In September 2024, it became known that the Ulyanovsk company MGC Group completed the acquisition of the Russian division of the global manufacturer of automotive components Joyson Safety Systems (JSS). This acquisition was a significant event in the Russian automotive components market, given the departure of foreign companies from the country from 2022. The corresponding petition was granted by the FAS.

According to Kommersant, Joyson Safety Systems previously owned the assets of the Japanese company Takata, which subsequently declared bankruptcy due to a large-scale scandal related to defective airbags. Despite this, JSS maintained its global presence, including 25 countries, and annual revenues of $5 billion. The Russian division of the company, Joyson Seyfty Systems Rus LLC, operated a plant in Ulyanovsk, where steering wheels, seat belts and airbags were manufactured.

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Фото: Unsplash

MGC Group, analysts say, is a major Russian manufacturer of automotive components specializing in passive safety systems. By September 2024, the company operates 11 factories where body elements and other components for cars are produced. In 2023, MGC Group has already made a major acquisition by purchasing production facilities for the production of car seats from Magna International, which further strengthened its position in the Russian car kit market.

One of the key factors in the deal was the shortage in the airbag market in Russia, caused by the departure of foreign companies and the rupture of supply chains. Amid the crisis, some Russian automakers, such as AvtoVAZ, have been forced to temporarily produce cars without airbags. According to the reporting of the Russian JSS, the main client of the company was AvtoVAZ, which accounted for 93.65% of all sales in 2023.^[2]

Notes