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Financial Results of BELUGA GROUP for H1 2022

25
august 2022

BELUGA GROUP (MOEX: BELU), the leading alcohol company in Russia, announces the IFRS consolidated financial results for H1 2022: the revenue increased by 37% reaching RUB 42.1 billion, EBITDA rose by 94% to RUB 7.2 billion, net income grew by 97% amounting to RUB 2.3 billion.

Financial highlights and main corporate events

H1 2022

Sales in volume terms (9L cases)

8.26 (+13.6%)

Revenue (bln RUB)

42.1 (+36.7%)

Gross profit (bln RUB)

17.2 (+54.6%)

EBITDA (bln RUB)

7.2 (+93.7%)

Net profit (bln RUB)

2.3 (+96.8%)

Earnings per share (RUB)

166.84 (+78.5%)

The group achieved double-digit growth of revenue, as well as gross and net profit indicators. The results of the reporting period reflect business resilience and efficiency of the top-management allowing quickly and expertly rearrange usual processes. The group firmly maintains its positions and uses emerging opportunities. BELUGA GROUP plans in the coming years to focus on the local Russian market to keep leadership in various segments by developing the product range, distribution processes and in-house retail chain.

In the reporting period, positive dynamics were recorded for the company’s in-house and partner brands in the premium segment, this contributed to an improvement in the sales mix and, as a result, affected the profit indicators. The main sales drivers among the group’s in-house brands were Beluga, Belaya Sova, Orthodox, PARKA and Arkhangelskaya vodkas, Tiflis Treasure brandy, Fox & Dogs whisky, Beluga Hunting bitters, Green Baboon gin, Devil’s Island rum, as well as Golubitskoe Estate and Tête de Cheval wines. While among partner brands the drivers were Noy cognac, Barceló Dominican rum and the collection of imported wines. The range was strengthened with new promising products that have already listed in stores, including Devil’s Island Dark Añejo rum, Belenkaya and PARKA cranberry vodkas, Fox & Dogs Apple Pie whisky, Golden Reserve National Collection France cognac and Golden Reserve Apricot aperitif.

The group’s in-house retail chain WineLab continues developing: the number of outlets exceeded 1,200, and loyalty program members, 5.4 million people. Sales increased by 54.1% compared to H1 2021. This high rate resulted from the growing traffic and average ticket: the first increased by 36.3%, and the second, by 12.8%. WineLab continues to develop in the field of e-commerce, and to cooperate with marketplaces and online delivery services. The WineLab range is represented on SberMegaMarket and Wildberries, as well as on Yandex.Eda and SberMarket. Consumers have an opportunity to choose from among 900 products and pick up their favorite beverages at convenient stores. More than 55,000 electronic orders are distributed to customers per month.

The company managed to achieve high financial results in a difficult economic situation. The group will continue to strengthen its position in Russia, implement a business diversification strategy with a strong focus on digitalization, and invest in fields offering current and future growth opportunities.

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