Solaris summarizes 2024: strong sales growth, market expansion

• Solaris sold a total of 1,525 vehicles in 2024, which represents a 4.7% increase in sales compared to 2023. • The company’s revenues in 2024 stood at €927 million, representing a growth of over 13% compared to 2023. • Since 2012 until the end of 2024, Solaris has delivered the highest number of zero-emission buses in Europe among all manufacturers. • Electric buses, hydrogen buses, trolleybuses, and hybrid vehicles accounted for a record 83% of the sales structure in 2024. • Solaris signed its first contract in the US market for the delivery of electric buses. This is a milestone toward achieving the company's strategic plans to enter the zero-emission bus market in the USA and Canada. • The Solaris hydrogen bus was recognized as the Bus of the Year 2025 in a prestigious international industry competition.

SALES

Solaris sales and financial results in 2024 confirmed the manufacturer's ability to operate effectively in changing market conditions, demonstrating resilience to economic challenges. The company delivered a total of 1,525 vehicles in the past year, marking an increase in sales compared to the previous year.

Notably, the vast majority of contracts completed by Solaris in 2024 involved the supply of vehicles with completely zero-emission or low-emission drives. Vehicles equipped with alternative drives – battery and hydrogen, trolleybuses, and hybrid buses – achieved a record share of sales, accounting for as much as 83% of all vehicles delivered. This share includes 544 electric buses, a record 259 hydrogen buses, and 180 trolleybuses, which also played an important role in shaping the company's zero-emission sales mix.

MARKET SHARE IN 2024

The increasing share of low- and zero-emission vehicles in Solaris sales structure demonstrates a good understanding of the market and the ability to adapt to its expectations. In Europe, there is a rapid increase in the share of vehicles from the e-mobility segment in transport. Thanks to continuous innovation and the implementation of new technologies, Solaris maintains a leading position among manufacturers of zero-emission city buses in Europe.

Since 2012, the company has delivered more zero-emission buses to European cities than any other manufacturer, a total of 3,074 vehicles, which account for almost 14% of all zero-emission buses on European roads.

In 2024 alone, Solaris ranked second in the supply of zero-emission buses, delivering 705 zero-emission buses to European customers.

It is worth noting that a significant part of the zero-emission deliveries consisted of hydrogen buses. This market segment is developing dynamically, and in the past year, it more than doubled compared to the previous year. Solaris has been the undisputed leader in this part of the market since 2019. In 2024, the manufacturer strengthened its position by delivering 245 Urbino hydrogen buses to European cities, which translated into an impressive 69% market share.

FINANCIAL RESULTS

Record sales of technologically advanced vehicles with alternative drives contributed to equally record revenues in 2024. Solaris operations generated revenues of €927 million, an increase of over 13% compared to the previous year.

KEY DELIVERIES

In the reporting period, Solaris delivered its products to customers in 12 countries. The main recipients of Solaris vehicles were operators from Italy, Poland, Germany, Romania, Sweden, and Spain. Among the largest contracts executed by Solaris in 2024, the following deliveries can be distinguished:

• 245 buses to the ATAC Roma carrier in the capital of Italy, including 110 Urbino 18 mild hybrid vehicles and 135 (out of a total of 248 ordered) Urbino 12 CNG buses.
• 100 hybrid buses to ARST and 38 electric buses to CTM Cagliari in Sardinia.
• 100 Solaris Trollino 12 trolleybuses to Bucharest, the capital of Romania.
• 83 Solaris Urbino 15 LE electric buses to the Nobina operator in Sweden.
• 48 Urbino 18 mild hybrid buses to MPK Łódź.
• 37 Solaris Urbino 12 hydrogen buses to TPER Bologna (out of a total of 130 ordered) in Italy.
• 36 Solaris Urbino 12 hydrogen buses to TMB Barcelona in Spain.
• 36 Solaris Urbino 12 electric buses to Milan in Italy to the ATM Milano operator.

KEY CONTRACTS

Solaris ended 2024 with a solid order portfolio, including over 1,600 secured vehicles worth over €1.4 billion. The majority of these orders, as much as 92%, are for low- or zero-emission vehicles. Among the most important orders are:

• Order for 96 Solaris electric buses for public transport in Utrecht by Transdev Nederland. Deliveries are scheduled for the last quarter of 2025.

• Order for 46 Solaris electric buses (19 Urbino 12 electric and 27 Urbino 15 LE electric) by Keolis Sverige for the Dalarna region. Deliveries will begin in 2025.

• Tender for the supply of up to 45 Urbino 24 electric bi-articulated buses to Liège, Belgium. The first order includes 18 vehicles and is the largest tender for bi-articulated buses won by the manufacturer to date.

• Contract for the supply of 30 electric buses (26 Urbino 12 electric buses and 4 Urbino 18 electric models) to the Arriva operator in the Netherlands, which will operate traffic in the West Brabant region and join the Arriva fleet in 2025.
  
  
• Purchase of 22 Urbino 12 hydrogen buses by the Île-de-France Mobilités carrier in France, with the support of CATP (Centrale d’Achat du Transport Public). Deliveries are scheduled for 2025.
  
  
• An agreement for 20 hydrogen buses (9 Urbino 12 hydrogen units and 11 Urbino 18 hydrogen models) was concluded with RVK Köln. This is another order from the carrier for Solaris hydrogen buses. After the implementation of the latest contract in 2025, the Solaris hydrogen fleet in the city will reach 84 vehicles of the brand.

• The first contract for the supply of buses to the USA with King County Metro, which provides transport services for the city of Seattle in Washington State and 34 other cities. The contract includes two 40-foot electric buses and two 60-foot articulated buses, with an option for an additional 12 vehicles. Deliveries will begin in the second half of 2026. The buses will be based on a platform designed specifically for the North American market, compliant with all US regulations, including FMVSS and ADA. This platform will include the most advanced battery bus technology, including advanced electric drive systems, Solaris proprietary battery integration technology, and state-of-the-art connectivity features, proven in Europe.

INDUSTRY AWARDS

2024 was also a significant year for Solaris in terms of winning important and prestigious industry awards.

• In September 2024, the international jury of the Bus of the Year competition awarded the title of Bus of the Year 2025 to the Solaris Urbino 18 hydrogen bus. This is the second title for a Solaris vehicle and the first time in the history of the competition, which has been held since 1989, that a hydrogen vehicle has won. In 2017, the prestigious award went to the Solaris Urbino 12 electric – a battery bus.

• The battery-powered Urbino 12 electric with a modular drive was awarded the "Sustainable Bus Award 2025" in the "City Buses" category in October 2024. The Sustainable Bus Award is an international competition that rewards the most innovative and sustainable buses and coaches introduced to the European market.

PRODUCT

Solaris has maintained a leading position in providing low- and zero-emission urban transport solutions to cities throughout Europe for many years. To be at the forefront of manufacturers influencing the green transition in public transport, the company is constantly investing in further development.

In 2024, as part of its research and development activities, the company implemented a number of key projects. Among them, the implementation of the Solaris Urbino 18 electric bus with a modular electric drive into mass production stands out. This model, combining increased passenger capacity and extended range, is a significant strengthening of the company's offer. In turn, the optimization of the design of the Solaris Urbino 12 electric bus with a modular drive in terms of material costs and energy consumption was completed with the obtaining of approval, and the commenced sale of vehicles brought the first orders.

The company also continued work on cybersecurity at the bus level, implementing a modern management system in accordance with UN regulations 155 and 156. In 2024, a certificate of conformity was obtained, certifying the compliance of the company and its products with cybersecurity and software supervision requirements.

Additionally, in 2024, R&D work continued related to the company's entry into the US and Canadian markets and the segment of zero-emission intercity buses in Europe.

SUSTAINABLE DEVELOPMENT

In 2024, Solaris continued its activities in the area of ESG, in accordance with the strategic goals for 2024-2026.

The company was the first in the world to develop and obtain a battery passport for an electric bus. The first vehicle with this document is the Solaris Urbino 18 electric, which went to the BVG fleet in Berlin. The Berlin operator ordered a total of 50 of the same models and all will have battery passports. The battery passport is a digital document containing detailed information about the origin and composition of the battery, supporting responsible resource management. The document provides transparency of the battery life cycle, promoting responsible sourcing of raw materials and supporting recycling and optimal use of renewable materials. Solaris delivered the vehicle with a battery passport three years before the introduction of EU regulations that require a digital battery passport from 2027.

In addition, environmental analyses of products were continued – in 2024, the Urbino 18 hydrogen vehicle was assessed. Obtaining EPD (Environmental Product Declaration) labels for all types of vehicles is planned for the coming years. In 2024, Solaris fourth sustainable development report was published, which summarizes the company's activities in the area of ESG, showing its commitment to promoting sustainable development at every stage of its operations.

Solaris ESG activities have been recognized in several prestigious competitions, including the Silver CSR Leaf of the "Polityka" weekly, the Platinum ESG Innovator Award in the "Environment" category, and the Diamond Planet award in the "Net-zero Promoter" category in the "Together for the Planet" competition.

SUMMARY

2024 was a period of significant achievements for Solaris Bus & Coach, confirming its position as a leader in the zero-emission bus market. The company sold a total of 1,525 vehicles, an increase of 4.7% compared to 2023. This success contributed to the group achieving revenues of €927 million, an increase of over 13% compared to the previous year. Impressively, battery buses, hydrogen buses, trolleybuses, and hybrid vehicles accounted for a record 83% of the sales structure in 2024.

Key achievements include the first contract to supply electric buses to the US market, which is an important step in the expansion into the zero-emission bus market in the USA. In addition, Solaris was the first company in the world to introduce a bus with a battery passport into mass production – the Solaris Urbino 18 electric model went to the BVG fleet in Berlin. In addition, the Urbino 18 hydrogen bus was recognized as the best city bus of 2025 in a prestigious international industry competition, which emphasizes the company's innovation and excellence in sustainable transport.

At the end of 2024, the company’s order backlog included 1,609 vehicles with a total value of over 1.4 billion euros.