Novabev Group · RUS:BELU
Novabev — Beluga Group — FY2021 Earnings Presentation
30 slides from Novabev's earnings presentation, 2022
Slide 1: Beluga Group Financial results presentation
BELUGA GROUP Financial results presentation
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 Today
BELUGA GROUP TODAY
Slide 4: Beluga Group at a glance
BELUGA GROUP at a glance № 1 RUB 103bn RUB 75bn RUB 10.5bn RUB 3.9bn Spirits producer (+14% y-o-y) (+18% y-o-y) (+14% y-o-y) (+57% y-o-y) In Russia(1) Gross revenue Net revenue EBITDA Net income 16.1% 1,001 № 1 1.3x ≥ 25% ROIC(2) stores Specialized alcohol Net debt / EBITDA of Net Income retailer(3)
Slide 5: 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 22% 12% 123% 17.4 17.5 2.9 14.4 15.7 14% 17% 14.0 15.0 14.6 11% 13.0 2.4 9% 86% 89% 83% 91% 1.7 1.3 2018 2019 2020 2021
Slide 6: Selected brands' performance in 2021
Selected brands’ performance in 2021 shows ongoing trend of sales mix premiumization In-house brands Vodka Spirits Wine Beluga Beluga (export) Arkhangelskaya Belaya Bastion, Green Golubitskoe Sova cognac Baboon, gin Estate, Tete de Cheval + 51% + 105% + 14% + 8% + 115% + 108% + 27% Partners’ brands
Slide 7: №1 spirits producer in Russia and №4 vodka producer globally
№1 spirits producer in Russia and №4 vodka producer globally Russia Globally #1 Distilled spirits producer #4 Vodka producer Unmatched leadership In Duty-Free super-premium domestically and further #1 Flavored spirits producer1 #2 vodka segment advance worldwide Brands among bestselling #1 Whiskey p
Slide 8: Unmatched leadership domestically and further advance worldwide
Unmatched leadership domestically and further advance worldwide Market share in the Russian market for 2021 by volume #1 vodka & flavored liquors #1 flavored liquors producer #4 brandy producer #1 whiskey producer producer(1) 13,3% 17,4% Alvisa 16,7% 37,9% Igristiy 25,5 Roust 11,2% OPVZ 8,1% Stellar
Slide 9: Beluga – flagship brand supplied all around the world
Beluga – flagship brand supplied all around the world #1 Top-5 ultra-premium vodka brands globally Market shares of ultra-premium vodka brands globally by volumes, 2020(1) #2 32.2% #3 27.0% Premium vodka brand 10.4% 7.4% Premium vodka in Russia and CIS 4.5% brand globally Ultra-premium Prest
Slide 10: Successful ramp-up of own specialized retail chain
Successful ramp-up of own specialized retail chain applying efficient Direct-to-customer approach 1 001 Winelab in-store average ticket Stores rollout dynamics 800 900 RUB # of stores (end of period) 713 Like-for-like sales: +14.7% (2021 YoY) 531 622 645 665 604 Like-for-like avg. ticket: 491 545 46
Slide 11: Financial Results Update
FINANCIAL RESULTS UPDATE
Slide 12: Financial performance summary
Financial performance summary In RUB bn unless stated otherwise 2019 2020 2021 CAGR'19-21 Revenue reached RUB 74.9 bn growing at CAGR of 20.9% since 2019 Total shipment, mn 9L cases 15.7 17.4 17.5 5.5% 18% y-o-y revenue growth in 2021 # of stores 604 645 1,001 28.7% Revenue Revenue growth was supp
Slide 13: Strong financial performance
Strong financial performance Net revenue1 EBITDA Net income In 2021, consolidated revenue RUB bn RUB bn % EBITDA margin RUB bn % NI margin grew by 18% mainly due to 12.7% 14.5% 14.0% 2.8% 3.9% 5.2% rapid growth of Winelab retail chain and continued growth of exports & import sales CAGR 21% CAGR 27%
Slide 14: Consistent growth across key segments
Consistent growth across key segments Production & Distribution revenue dynamics Retail revenue dynamics BELUGA GROUP continues RUB bn RUB bn to deliver remarkable growth across key business Segment share, % Segment share, % segments 64.0% 59.6% 57.8% 28.5% 33.9% 36.9% Production & Distribution CAGR
Slide 15: The Group significantly de-levered in the last 3 years
The Group significantly de-levered in the last 3 years Total debt evolution Total debt statistics summary Leverage position continued to RUB bn Total Debt / EBITDA RUB mn 31 Dec’20 31 Dec’21 improve, ND / EBITDA reached 1.3x in 2021 due to increase of 2.9x 2.2x 2.2x 23,6 Loans and bonds 17,295 16,41
Slide 16: Shareholder structure and dividend policy
Shareholder structure and dividend policy Shareholder structure(1) Dividend policy A. Mechetin Free float In September 2020, the Board of Directors of BELUGA GROUP approved the Group's new dividend policy, 58% 24% which sets out the following key principles: Quasi-treasury Management 13% 5% At least
Slide 17: Income statement
Income statement RUB mn 2019 2020 2021 YoY, % Net revenue 51,270 63,292 74,937 +18% Cost of sales (31,916) (40,614) (48,094) +18% Gross profit 19,354 22,678 26,843 +18% margin 37.7% 35.8% 35.8% - G&A expenses (2,910) (2,849) (3,848) +35% Distribution expenses (11,829) (12,985) (15,358) +18% Other in
Slide 18: Balance sheet
Balance sheet RUB mn 31 Dec’19 31 Dec’20 31 Dec’21 RUB mn 31 Dec’19 31 Dec’20 31 Dec’21 ASSETS SHAREHOLDERS’ EQUITY AND LIABILITIES Non-current assets Equity and reserves Share capital 1,940 1,580 1,580 Property, plant and equipment 13,885 12,880 18,365 Treasury shares (669) (347) (206) Goodwill 3,5
Slide 19: Cash Flow
Cash Flow RUB mn 2019 2020 2021 Operating profit, continuing operations 4,457 6,842 7,742 Operating loss, discontinued operations (65) (315) (16) Depreciation and amortization 2,103 2,365 2,745 Other non-cash transactions 207 95 758 Other gain / losses 22 (74) (224) Changes in working capital (2,218
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 130 Saint Petersburg 1 vineyard Riga 241 ha fertile vineyards Saint Petersburg Arkhangelsk 41 Arkhangelsk region 900 ha additional land Moscow Kr
Slide 22: 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 evolution2 Distribution platform focused Growing share 100% 100% on direct sales of export operations Import 4% High and growing level of the Ex
Slide 23: Strong brand portfolio: own brands
Strong brand portfolio: own brands Vodka Brandy / Cognac / Wine Other spirits Liquor (gin, tequila, rum, etc.) Super Super premium premium Sub-premium / Sub-premium / premium premium Middle Middle Mainstream Mainstream Sources: Company data Notes: Price range for every segment could differ based on
Slide 24: Strong brand portfolio: imported brands
Strong brand portfolio: imported brands Brandy / Cognac / Whisky Wine Other spirits Liquor (gin, tequila, rum, etc.) Super Super premium premium Sub-premium / Sub-premium / premium premium Middle Middle Mainstream Mainstream Sources: Company data Notes: Price range for every segment could differ bas
Slide 25: Continuous adherence to high ESG standards
Continuous adherence to high ESG standards 88% 209k industrial waste cubic meters of water Environmental recycled, 2020 consumed, 2020 ISO 9001:2018, Organic Donations Switch to NNPB2 ISO 22000:2018, vodka to Ocean technology, HACCP 22000 development in Foundation decreasing bottle weight 100% 153k
Slide 26: Supporting the UN Sustainable Development Goals
Supporting the UN Sustainable Development Goals High priority Decent work and Responsible consumption economic growth and production SDGs1 of 10,000 employees in BELUGA GROUP Increasing the efficiency BELUGA Ensuring opportunities for career development of natural resources usage Using energ
Slide 27: High standards of corporate governance with independent Board members
High standards of corporate governance with independent members on the Board of directors ALEXANDER NIKOLAY 2 New members on MECHETIN CEO Founder of BELUGA GROUP BELOKOPYTOV Chairman of the BoD CFO the Board of Directors SERGEY MIKHAIL MOLCHANOV KASHIRIN Chief Operating Officer Head of Business Deve
Slide 28: Key marketing activities
Key marketing activities SPECIAL PROJECTS ON-TRADE ONLINE WINDOW BRANDING 28
Slide 29: Non-core business
Non-core business Divested Divested Crops Poultry Meat processing Dairy Crops/land operations 100% vertically integrated business Operations in the Far East Operations in the Far are located in Saratov, the black located in Saratov region consists Region of Russia East Region of Russia earth
Slide 30: Contact us!
IR Contact Details Sergey Kuptsov Anton Chertkov Head of Corporate Finance Investor Relations Manager Tel: +7 (495) 510-26-95 Tel: +7 (495) 775-30-50 E-mail: ir@belugagroup.ru E-mail: ChertkovAA@belugagroup.ru Contact us! 30