Beluga : Financial Results of Novabev Group for 9 months of 2023
November 10, 2023 at 10:09 pm
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Key financial numbers for 9 months of 2023
Key operational and financial highlights:
9 months 2023
Sales in volume terms, mln 9L cases
12.5 (-1%)
Number of stores
1,581 (+26%)
Revenue (mln RUB)
77,671 (+17%)
Gross profit (mln RUB)
29,436 (+10%)
Operating profit (mln RUB)
8,809 (+0%)
EBITDA (mln RUB)
12,740 (+6%)
Net profit (mln RUB)
5,262 (+1%)
Earnings per share (RUB)
455.4 (+17%)
In the first nine months of 2023, revenue increased by 17% to 77.7 billion rubles, while EBITDA grew by 6% to 12.7 billion rubles. On the LTM basis these indicators reached record highs of 108.7 billion rubles and 18.1 billion rubles, respectively.
The results surpassed last year's levels, which were mainly driven by extraordinary sales in the first half of 2022. One of the period's achievements is the company's ability to fully offset the loss of the super-premium Beluga brand's export sales. Additionally, growth rates strengthened in the third quarter and continue to increase due to the high season.
Profitability on key indicators expectedly slightly decline due to the intensification of new WineLab store openings and will return to sustainable levels as the chain's growth stabilizes in accordance with the company's long-term development strategy. These levels will also be supported by a diversified brand portfolio, large-scale distribution and deep vertical integration of the company.
Segment report:
The table below illustrates the changes in financial performance of each business segment for the first nine months of 2023 compared to the same period in 2022.
mln RUB
Alcohol
Retail
Food
Revenue 9M 2023, incl. intersegment revenue
47,507
46,544
3,759
Revenue 9M 2022, incl. intersegment revenue
41,848
34,892
3,492
Change
+14%
+33%
+8%
Operating profit 9М 2023
5,951
2,743
263
Operating profit 9М 2022
6,404
2,406
94
Change
-7%
+14%
+180%
EBITDA 9М 2023
7,126
5,408
354
EBITDA 9М 2022
7,338
4,550
178
Change
-3%
+19%
+99%
Strong growth of key financial indicators and leadership in the main alcoholic segments confirm the correctness of the chosen development strategy of Novabev Group: premiumization of the brand portfolio, diversification, as well as introduction of innovations allow the company to build a business that shows exceptional stability in periods of unprecedented market turbulence.
Beluga Group PAO published this content on 10 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2023 22:07:32 UTC.
Novabev Group PAO, formerly Beluga Group PAO and Sinergiya PAO, is a Russia-based company, which is engaged in the alcohol beverages industry. The Company is involved in the production of distilled alcohol and food products, and operation of wholesale business thereof. It operates in two segments: Alcohol production includes production of vodka, liquor, gin, brandy, rum, tequila and wine, among others, and Food production segment is carrying out production, marketing and sale in Russia of crops, poultry, dairy and meat products. It also operates approximately six distilleries that are located in the following federal districts: Central, Far Eastern, North-Western, Volga and Siberian. The Companyâs brand portfolio comprises such brands as Myagkov vodka, Belenkaya vodka, Russian Ice vodka, Kamenniy Lev, Staraya Gvardia and VOGUE champagne, among others. The Company distributes its products to more than 70 countries.
BELUGA GROUP 
