Net profit of Beluga Group in the first half of the year grew by 35% – Kommersant
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Beluga Group, the largest alcohol company in Russia, has published IFRS financial statements for the first half of 2023 (.pdf). The company’s revenue in the period from January to June increased by 14% and reached 47.9 billion rubles. Net profit increased by 35% and amounted to 3 billion rubles.
It follows from the financial statements that in the first half of the year the gross profit of the Beluga Group grew by 9% and reached 18.8 billion rubles. The company’s EBITDA increased by 5% and amounted to RUB 7.6 billion.
In the first half of the year, Beluga Group’s total shipments exceeded 7 million decaliters. In particular, the growth rates of Beluga vodka increased by 13%, Orthodox – by 62%, Belaya Owl vodka – by 20%. Sales of Fox & Dogs whiskey increased by 26% and Green Baboon gin by 139%.
The number of outlets of the VinLab retail chain, which is part of the Beluga Group, reached 1.5 thousand stores in the first half of the year. The network’s sales volume increased by 33.5%, the average check – by 5%.
In the first quarter of 2023 Beluga Group reduced vodka production by 11%, to 1.96 million decalitres, year on year. The group previously explained that the results of the first quarter of 2023 were affected by abnormal shipments in March 2022 associated with political events.
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