Financial Results of NOVABEV GROUP for H1 2023

august 10 /2023

NOVABEV GROUP announces the IFRS consolidated financial results for H1 2023: revenue increased by 14%, reaching 47.9 billion rubles, EBITDA rose by 5%, amounting to 7.6 billion rubles, and net income grew by 35%, totaling to 3 billion rubles.

Financial highlights and main corporate events:

H1 2023

Revenue (mln rubles)

47 934 (+30%)

Gross profit (mln rubles)

18 822 (+9%)

EBITDA (mln rubles)

7 561 (+5%)

Net income (mln rubles)

3 046 (+35%)

Earnings per share (rubles)

267 (+60%)

NOVABEV GROUP demonstrates the growth of financial indicators, which are reflecting its efficiency and sustainability. Despite the fact that the group now focuses on the Russian market only, the company improved its results in the first half of the year by developing in-house brands, increasing import operations and expanding the WineLab chain.

Total sales exceeded 7.7 million 9L cases. Premium brands from high-margin segments in all key categories demonstrated notable dynamics. In particular, the brands with a double-digit growth rates for the period are Beluga (+13%), Orthodox (+62%) and Snow Owl (+20%) vodkas, Fox & Dogs whisky (+26%), Green Baboon gin (+139%), and among the imported — are Barceló and Plantation rum brands, Noy cognac, and wine portfolio.

One of the main drivers of the company’s development, its own retail chain WineLab, has achieved high performance over the period: the number of outlets exceeded the mark of 1,500 stores, sales increased by 33.5%, while click & collect sales almost doubled, traffic increased by 27%, and average ticker by 5%. To the moment, more than 6.3 million people are participants of its WinClub points-based loyalty program.

The solid result is due to a unique business model that combines production, distribution, in-house retail and e-commerce. The company controls all stages from products’ creation to selling them to customers both in stores and online. The group will continue to strengthen its position in Russia through its presence in all categories of spirits and wines, business diversification and development of WineLab, paying special attention to e-commerce within the chain.

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