Operating results Q1 2024

april 9 /2024

Key figures in comparison with the 1Q 2023

•         The company's overall and in-house brands sales show a moderate decline of 3% and 3.8%, respectively.

•         At the same time, vodka brands from the super-premium and premium segments are growing at double-digit rates: Beluga (+22.2%), Belaya Sova (+50.5%) and Orthodox (+15.2%). The absolute leader of the Russian market in the low-premium segment, Arkhangelskaya vodka (+6%), is still increasing its volumes.

•         Among non-vodka brands, positive dynamics are noted for cognacs Treasure of Tiflis and Golden Reseve, as well as Devil's Island rum.

•         Golubitskoe Estate winery’s own wines — Golubitskoe Estate and Tête de Cheval — show a doubling of volumes.

•         The sales of partner brands are at the same level as last year (-0.9%).

•         WineLab: the number of outlets exceeded 1,700, sales volume +36.2%.

1Q 2023 sales

•         The overall sales of Novabev Group approached 3.8 million 9L cases.

•         The sales of in-house brands totaled 2.86 million 9L cases. The most positive dynamics was observed among premium brands from the portfolio, including vodkas, cognacs, wines and rum.

•         Sales of imported partner brands exceeded 880 thousand 9L cases, with wine imports up 9%.

WineLab results

•         The sales of the chain climbed 36.2% compared to 1Q 2023.

•         This more than one-third increase was driven by growth in both customer traffic (+13.9%) and average ticket (+19.6%).

•         The number of outlets for the 1Q increased on 56 and amounted to 1,713 outlets.

•         Click & collect sales more than doubled (+119%), with the share of e-commerce in the aggregated sales of the chain reaching 12% versus 7.3% last year. More than 1 million e-orders were picked up in the first quarter.

In the first quarter, the company delivered a stable performance in a highly competitive market with constantly changing external factors. The team's priorities are focused on increasing sales margins through strong brands in the premium and above segments and effective price management. An extensive distribution network of over 150,000 outlets and a diversified product portfolio covering a wide range of alcoholic beverage categories ensure the group's strong market position. Strategy execution, strong partner relationships, result orientation, flexibility and committed team will support the realization of plans and the achievement of targets for the coming quarters.

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