BELUGA GROUP announces the financial results for 2019
BELUGA GROUP announces the financial results for 2019: revenue increased by 22%, amounting to 53 074 million rubles, EBITDA increased by 53%, amounting to 6 495 million rubles (without application of IFRS 16 EBITDA increased by 25% to 5 299 million rubles), net income grew by 53% to 1 433 million rubles.
BELUGA GROUP (MOEX: BELU), the leading alcohol company in Russia, announces the IFRS consolidated financial results for 2019.
Financial highlights and main corporate events
|
|
2019 |
|
Sales in volume terms, thousands 9L cases |
15 694 (+9,3%) |
|
Revenue (mln RUB) |
53 074 (+22%) |
|
EBITDA (mln RUB) |
6 495 (+53%) |
|
EBITDA* (mln RUB) |
5 299 (+25%) |
|
Net income (mln RUB) |
1 433 (+53%) |
|
Earnings per share (RUB) |
103,71 (+52%) |
BELUGA GROUP showed sustained development in 2019. A strong portfolio of own and imported brands offering consumers high quality products in all alcoholic beverage categories, combined with a well-established distribution system and the developing WineLab retail chain, have contributed to strengthening the group's position in the market.
Sales of imported brands of which the company is the exclusive distributor in Russia has allowed BELUGA GROUP to become one of the leaders among the country's importers of wine and spirits. Products from the William Grant & Sons portfolio, as well as Ron Barcelo (one of the top 3 rum brands in Russia), have shown strong results. The wine import segment which includes sales of products by world- famous manufacturers is developing. Sales exceeded 1 million cases by the end of the year.
Beluga Vodka, the company's flagship brand, showed a double-digit growth in shipment volume both in Russia and abroad. International projects continue to increase awareness of the brand and strengthen its position in Israel, Germany, Italy, the Netherlands, USA, Poland, Australia, and other countries around the world.
Commenting on the financial results, CEO of BELUGA GROUP Alexander Mechetin stated the following: "The results achieved in 2019 are due to the consistent implementation of the strategy to develop premium segments and categories and diversify our businesses. Today the company's portfolio includes not only famous vodka, liqueurs, flavored spirits and popular brandy brands, but also promising whiskey and gin products which demonstrated positive growth dynamics in 2019, and a range of wines produced from our own grapes at the Golubitskoe Estate winery on the Taman Peninsula. Besides, the launch of Tete de Cheval sparkling wines, created using the traditional method of champagnization – holding bottles on the lees for at least 12 months – will take place soon. At the same time, taking into account consumers' interest in imported alcohol, the group continues to represent the world-famous partner brands in some of the most popular categories in Russia, as well as to conclude new agreements with companies making popular products. In 2019, a distribution agreement for Torres wines and Riedel glasses came into effect, with Armenian Noy brandies following suit in March 2020.
The company has continued to develop its WineLab network of alcohol boutiques, understanding the importance of a channel that allows for the swift introduction of new products to the market and the full representation of BELUGA GROUP brands. By the end of the year, the number of outlets in the chain exceeded 600.
I would also like to point out the positive growth of the Beluga vodka brand in foreign markets over this period.