Operating results for the 3Q and 9 months of 2023

october 5 /2023

Key figures for the period

  • In the Q3, overall sales rose 7.3% and totaled to 4.7 million 9L cases: sales of the company’s in-house brands increased by 1.5% and of the imported brands grew on 33.7%.

  • For the nine months, overall sales exceeded 12.5 million 9L cases, down 1.2% from last year's record high, with own brands showing a 7.5% slowdown and imported brands posting double-digit growth of 29.3%.

  • Excluding export sales, positive dynamic to 2022 is 1.3%.

  • WineLab: the number of outlets exceeded 1,580 in September, total sales +33.3% YoY.

Highlights of the period

  • The company's result is close to the last year's. This indicates the successful orientation of the business to the Russian market and the demand for the group's products in the country.

  • Brands from the premium and higher segments show double-digit growth rates, which has a positive impact on financial performance.

  • In Russia, the fastest growing brands among the in-house ones are Beluga (+25.4%), Orthodox (+50.5%), Snow Owl (+39%), PARKA (+25.6%) vodkas, Green Baboon gin (+80%), and Tête de Cheval sparkling wine (+13.4%), while among imported brands are Barceló and Plantation rums, Armenian cognac Noy and wine portfolio, as well as novelties presented last year.

  • The company is renamed Novabev Group and is rebranding. The new name is intended to emphasize the uniqueness of the business model that combines production, distribution and retail, to separate the company's brands and flagship vodka, and to focus on the group's coverage of all categories of spirits and wines.

  • Based on the half-year financial reporting results, the shareholders' meeting in September approved the payment of an interim dividend for the 1H 2023 in the amount of RUB 320 per share before tax, totaling RUB 3.65 billion, or 120% of net consolidated profit for 1H2023 under IFRS.

WineLab results for 9 months

  • The sales of the chain increased by 33.3%.

  • The customer traffic grew on +24%, the average ticket rose on +7.5%.

  • By the end of September, the scale of the chain is 1,588 stores.

  • Click & collect sales rose by 99.7% YoY, and the share of e-commerce in the aggregated sales of the chain is now 7.7% versus 4.3% last year.

  • The chain's loyalty system covers more than 6.5 million customers, with 1.1 million already participating in both the discount and point-based programs.

  • The point-based program was extended in September to all retail stores of the chain — points are accumulated both when ordering online and for offline purchases.

  •  In September, the WineLab Business online service was launched, allowing corporate clients to purchase alcoholic beverages for various business purposes: for gifts to employees and partners, as well as for organizing events.

The sales in the 3Q exceeded last year’s and both 1Q and 2Q result. The overall trend for the nine months is aiming for 2022 figure, which demonstrates the stability of the business. The team continues to work towards achieving its strategic goals, combining customer orientation, focus on leadership and commitment to innovative approaches and solutions.

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