The net profit of the Beluga manufacturer for the nine months of 2023 increased by 1%
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The net profit of NovaBev Group (“NovaBev Group”, former Beluga Group) according to IFRS for the first nine months of 2023 reached RUB 5.26 billion. Compared to the same period in 2022, the figure increased by 1%, as follows from reporting companies. EBITDA increased by 6% and amounted to RUB 12.74 billion.
According to financial results for January-September 2023, NovaBev Group’s revenue increased to 77.67 billion rubles, exceeding last year’s results by 17%. The company’s gross profit increased by 10%, to 29.44 billion rubles, operating profit remained at the level of nine months of 2022 and amounted to 8.81 billion rubles. Overall alcohol sales decreased by 1% to 11.3 million deciliters (dal).
“One of the achievements of the period was the company’s ability to fully compensate for the lost income from the export of the super-premium Beluga brand. The growth rate in the third quarter increased and continues to increase due to the onset of the high season,” the company commented.
In January—September NovaBev Group decreased total shipments of alcoholic products by 1.2% compared to the same period in 2022, to 11 million decaliters. Shipments of own brands over the nine months decreased by 7.5%, while figures for imported brands, on the contrary, increased – +29.3%.
NovaBev Group’s revenue for the first half of the year increased by 14% and reached 47.9 billion rubles, and net profit increased by 35%, to 3 billion rubles. The company’s EBITDA amounted to RUB 7.6 billion, an increase of 5%.
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