Operating results Q1 2026

Novabev Group (ticker BELU), Russia’s largest alcohol company, announces its operating results for Q1 2026. Total sales approached 3.3 million 9L cases. Of that, 2.5 million 9L cases were sales of the company’s own products. Premium-segment brands, particularly vodka and Russian wine, demonstrated the strongest growth. Imported partner brands accounted for 777.8 thousand 9L cases of sales.

Key figures and highlights

• Against the backdrop of a stagnant industry, total sales and sales of the company’s own brands declined by 5%. This decline is partly due to a planned optimization of the product portfolio: the company is systematically phasing out low-margin regional brands and reallocating resources to more profitable products.
• Despite the correction in sales volume, the company remains the top spirits supplier across all channels, including key federal clients.
• The group’s premium portfolio is delivering strong results despite market conditions. Its flagship brand, the super-premium vodka Beluga, is experiencing steady growth of 18%. Vodka brands in the premium segment have shown double-digit growth for two consecutive years: Orthodox (+87%, the fastest-growing premium vodka brand in 2025) and Belaya Sova (+10%).
• Arkhangelskaya vodka (+5%), one of the leaders in the Russian vodka market, continues to grow steadily.
• Our portfolio of Russian wines has grown by 23%. According to a study by Roskachestvo, Golubitskoe Estate’s Pinot Noir Noble Selection Rosé was ranked among the top three rosé wines in Russia.
• Sales of partner brands declined by 7%. This decline is driven by industry-wide factors and targeted efforts to refine the product mix and focus on higher-margin, more liquid brands. Meanwhile, the Noy cognac line (+9%), Planteray rum (+5%), and wines from Piccini (+52%), Concha y Toro (+51%), and JP. Chenet (+38%), and others are showing growth.
• The group has expanded the range of its brands, both own and imported, in the following key retail chains: Aromatny Mir, Auchan, Globus, Lenta, О’КЕY, Perekrestok, Pyaterochka, and Verny.

WineLab results

• The chain’s sales volume increased by 9% compared to the same period in 2025. The average ticket rose by 8%, and traffic increased by 1%. Total LFL sales grew by 5.4% in January—March of this year compared to the same period last year.
• The number of stores for the period exceeded 2,200.
• E-commerce sales increased by 5% compared to last year, and the number of orders fulfilled rose by 6%.
• Total traffic on the WineLab online platform increased by 7% to 19.7 million compared to the same period last year. Meanwhile, downloads of the WineLab mobile app rose by 32%, indicating potential for further online growth.
• The number of customers enrolled in the WINCLUB loyalty program increased by 440,000, bringing the total number of participants to nearly 10.5 million.
• The company has announced a long-term partnership with Yandex. The key areas of focus are artificial intelligence, e-commerce and data analytics.

Despite challenging market conditions in the first quarter, the group delivered stable results and maintained a strong position in its distribution and retail business segments, including e-commerce. The group’s strategy of focusing on premiumizing the brand portfolio and developing its own wine business is proving effective. Brands in the targeted premium segments significantly outperformed the market, and this, combined with effective product portfolio management, will positively impact the group’s financial results. The company will continue to focus on improving its business efficiency in 2026.

Commitment to the strategy, reliance on a vertically integrated business model, and the professionalism of the teams provide a solid foundation for the company’s long-term growth.