Slide 1: Investor presentation 1H 2023 Results
BELUGA GROUP Investor presentation 1H 2023 Results
Slide 2: Disclaimer
Disclaimer The information contained herein has been prepared by that there is no guarantee of the accuracy or completeness of The information must not be acted on or relied on (i) in the Beluga Group PJSC ( ). The information and such data. While the Company believes that each of these United Kingd
Slide 3: Beluga Group at a glance
BELUGA GROUP at a glance № 1 № 4 RUB 132bn RUB 103bn RUB 17.7bn Spirits producer Vodka producer (+14% Y-o-Y) (+20% Y-o-Y) (+27% Y-o-Y) In Russia(1) Globally(2) LTM Gross revenue(3,4) LTM Net revenue(3) LTM EBITDA(3) 18.9% 1,508 ruAA- 2.0x ≥ 50% ROIC(5) stores(6) Expert RA Net debt / LTM EBITDA(6) of
Slide 4: Robust operational performance
Robust operational performance Total shipment Import In-house brands In-house brands shipment Import brands shipment shipment, % shipment, % Mn, 9L cases Mn, 9L cases Mn, 9L cases 8% 10% 3% 1% 32% 64% 18.7 3.3 17.4 17.5 18% 15.0 14.6 15.4 2.9 14% 17% 2.4 86% 83% 82% 1.8 7.9 7.8 1.3 7.0 18% 5.9 6.5 6
Slide 5: Selected brands' performance in 2023
Selected brands’ performance in 2023 In-house brands Vodka Spirits Wine Orthodox Russkiy Led Parka Belaya Sova Beluga Green Fox&Dogs, Vogue Baboon, gin Whiskey + 62% + 27% + 21% + 20% + 13% + 139% + 26% + 9% Partners’ brands Spirits Imported Wines Plantation, Barceló, Noy, Torres, rum rum cognac bra
Slide 6: Continuous focus on innovations with successful ramp-up of new products
Continuous focus on innovations with successful ramp-up of new products Track record of new products launch 2021 2022 1H 2023 A thoughtful approach to the development and launch of new products allows the Group to timely respond to changing customer preferences and better understand customers’ behav
Slide 7: Full vertical integration as an important competitive advantage
Full vertical integration as an important competitive advantage in conditions of market uncertainty Premium spirits & wine stores 1,508 with focus on development Stores(1) in Moscow, St. Petersburg Retail 4 and Far East 12 1,270 Federal logistic centers people spread across Russia in logistics 110 5
Slide 8: Unmatched leadership
Unmatched leadership Strong producer at the global level The absolute leader in the Russian alcohol market1 №1 vodka & flavored liquors producer(4) №1 flavored liquors producer 11,9% 13,5% №4 Vodka producer globally2 Tatspirtprom 11,0% Stellar 9,2% ASG 8,3% Ladoga 8,8% Roust 6,9% Tatspirtprom 5,8% G
Slide 9: Increasing footprint on the fast-growing wine market
Increasing footprint on the fast-growing wine market Russia’s wine market overview Golubitskoe Estate: in-house premium wine production Russia is among the top-6 countries with the highest level of wine Wines are among the top 10 consumption in the world and ranks 1st in terms of wine consumption
Slide 10: Successful ramp-up of own specialized retail chain
Successful ramp-up of own specialized retail chain applying efficient Direct-to-customer approach Stores rollout dynamics 1 508 Higher profitability comparing to public 1 351 1 426 Russian retailers(1), Gross margin in 2022, % # of stores (end of period) 1 250 1 124 1 234 1 001 713 31.4% 468 545 604
Slide 11: Winelab's diversified product portfolio and strong financial results
Winelab’s diversified product portfolio and strong financial results SKUs structure in 1H’23 60.8% 16.1% Share of Winelab Share of Winelab in BELUGA by categories by brands(2) in total agencies’ GROUP’s total in-house brands revenue, 1H’23 brands revenue, 1H’23 Still and Beer Group's in-house sparkl
Slide 12: Financial Results Update
FINANCIAL RESULTS UPDATE
Slide 13: Financial performance summary
Financial performance summary In RUB bn unless stated otherwise 1H 2021 1H 2022 1H 2023 Change Y-o-Y Revenue reached RUB 47.9 bn growing at CAGR of 25.0% since 1H 2021 Total shipment, mn 9L cases 7.2 8.2 7.7 (5.7%) 14% y-o-y revenue growth in 1H 2023 # of stores 713 1 234 1 508 22.2% Revenue Reven
Slide 14: Strong financial performance
Strong financial performance Net revenue(1) EBITDA Net income Despite the exceptional RUB bn RUB bn % EBITDA margin RUB bn % NI margin financial results of 2022, 12.0% 17.0% 15.8% 3.7% 5.4% 6.4% consolidated revenue in 1H’23 showed growth of 14% mainly due to the expansion CAGR 25% CAGR 43% CAGR 62%
Slide 15: Consistent growth across all segments
Consistent growth across all segments Production & Distribution revenue dynamics Retail revenue dynamics The growth of the Production RUB bn RUB bn and Distribution segment is driven by the continuous Segment share, % Segment share, % premiumisation of product 55.5% 53.5% 48.1% 38.2% 42.0% 47.8% mix
Slide 16: Debt profile of the Group remains stable over last 3 years
Debt profile of the Group remains stable over last 3 years Total debt evolution Total debt statistics summary Taking into account the RUB bn Total Debt / EBITDA RUB mn 30.06.2022 30.06.2023 seasonality of the business, the ratio of Net Debt to 2.1x 2.4x 2.3x Loans and bonds 22,121 25,815 EBITDA reac
Slide 17: Income statement
Income statement RUB mn 1H 2021 1H 2022 1H 2023 Y-o-Y, % Net revenue 30,752 42,053 47,934 +14% Cost of sales (19,624) (24,854) (29,112) +17% Gross profit 11,128 17,199 18,822 +9% margin 36.2% 40.9% 39.3% (1.6 p.p.) G&A expenses (1,796) (2,343) (2,462) +5% Distribution expenses (6,783) (9,663) (11,07
Slide 18: Balance sheet
Balance sheet RUB mn 31.12.2022 30.06.2022 30.06.2023 RUB mn 31.12.2022 30.06.2022 30.06.2023 ASSETS SHAREHOLDERS’ EQUITY AND LIABILITIES Non-current assets Equity and reserves Property, plant and equipment 24,094 22,593 27,075 Share capital 1,580 1,580 1,580 Goodwill 3,633 3,633 3,633 Treasury shar
Slide 19: Cash Flow
Cash Flow RUB mn 1H 2021 1H 2022 1H 2023 Operating profit, continuing operations 2,423 5,129 4,994 Operating loss, discontinued operations (16) - - Depreciation and amortization 1,278 2,039 2,567 Other non-cash transactions 92 (13) 381 Other gain / losses (26) (55) (43) Changes in working capital (1
Slide 20: Appendix
BELUGA APPENDIX
Slide 21: Beluga Group's efficient route to the market
BELUGA GROUP’s efficient route to the market 5 production facilities across Russia with >20mn 9L total capacity 1 ethanol plant with 1mn 9L total capacity 230 Saint Petersburg 1 vineyard 241 ha fertile vineyards Saint Petersburg Arkhangelsk 42 Arkhangelsk region 900 ha additional land Moscow Krasnoz
Slide 22: Professional management with extensive experience of overcoming crisis situations
Professional management with extensive experience of successfully overcoming crisis situations High standards of corporate governance: the Board of Directors consists of 9 members, including 3 INED Committees on the Board of Directors Remuneration & Strategy Committee Audit Committee Nomination Comm
Slide 23: Strong brand portfolio: own brands cover most product categories
Strong brand portfolio: own brands cover most product categories Vodka Cognac / Wines Gin Whiskey Other spirits Liqueur (infusions, rum, etc.) Super Super premium premium Sub-premium / Sub-premium / premium premium Middle Middle Mainstream Mainstream Sources: Company data Notes: Price range for ever
Slide 24: Strong brand portfolio: imported brands from renowned producers
Strong brand portfolio: imported brands from the world's renowned producers Cognac / Brandy Whiskey Rum Wines Other spirits (tequila, gin, etc.) Super Super premium premium Sub-premium / Sub-premium / premium premium Middle Middle Mainstream Mainstream Sources: Company data Notes: Price range for ev
Slide 25: Diversified business with large share of non-vodka categories
Diversified business with large share of non-vodka categories Key direction for business diversification BELUGA GROUP Production & Distribution revenue evolution(2) Distribution platform focused Growing share 100% 100% on direct sales of import operations Import 4% High and growing level of the
Slide 26: Key marketing activities
Key marketing activities WINDOW BRANDING EVENT BRANDING ON-TRADE BRANDING & ACTIVITY 2022 26
Slide 27: Contact us!
Anton Chertkov Investor Relations Manager A.Chertkov@belugaglobal.com +7 (495) 775-30-50 Contact us!