Synergy announces operational results for the 2Q and 1H 2016

july 11 /2016
PJSC “Synergy” (MOEX: SYNG), the leading distilled spirits producer in Russia, today announces operational results for the second quarter and first half of the Y2016. The Company’s sales for the 2Q 2016 increased by 14% and amounted to 2,771 thousand deciliters comparing to 2,426 thousand deciliters reported in the 2Q 2015. Sales for the 1H 2016 increased by 16% and amounted to 4,772 thousand deciliters comparing to 4,102 thousand deciliters reported in the 1H 2015.

Following the results of the 1H 2016 the Company significantly increased the volume of its import operations. The distribution of import premium brands boosted by 50% from 173 thousand deciliters to 260 thousand deciliters.

Commenting on the operational results, Chief Executive Officer of Synergy, Alexander Mechetin said: “In the 2Q of this year the Company has continued to show considerable positive dynamic of sales. Following the results of the 1H2016 we completely compensated decline of our sales for the last 3 years and exceeded the level of sales for the 1H 2013. Growth of the Company’s sales was certainly promoted by the efforts of the Government authorities aimed on suppression of activities of illegal spirits producers -  licenses revocation, withdrawal and destruction of the equipment, implementing of the Unified State Automated Information System into wholesale and retail.

It should be noted that operational results of Synergy outpace the Russian spirits market indicators, which also show positive dynamics against the outlined legalization of the market.

Continuing to follow its business diversification strategy Synergy for the last half-year progressively increased sales not only of  its own trademarks, but also of brands of our key partners. Growth of import indicators has showed 50% and portfolio of premium brands was replenished with the new categories possessing high potential".
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