Novabev Group · RUS:BELU
Novabev — Investor Presentation (2025)
25 slides from Novabev's investor presentation, 2025
Slide 1: Novabev Group Investor presentation
NOVABEV GROUP Investor 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 Novabev Group PJSC ( ). The information and such data. While the Company believes that each of these United King
Slide 3: Novabev Group at a glance
Novabev Group at a glance № 1 18.0mln RUB 168bn RUB 135bn RUB 18.7bn Spirits producer (9L Cases)(2) (+12% y-o-y) (+16% y-o-y) (-3% y-o-y) In Russia(1) Total shipment Gross revenue(2) Net revenue(2) EBITDA(2) 15.8% 2,041 ruAA 0.9x ≥ 50% ROIC(3) stores(4) Expert RA Net financial debt / of Net Income E
Slide 4: Robust operational performance
Robust operational performance Total shipment Import In-house brands In-house brands shipment Import brands shipment brands, % shipment, % Mn, 9L cases Mn, 9L cases Mn, 9L cases 3% 2% 31% 18.6 18.8 18.0 4.0 3.8 17.5 15.4 14.8 14.6 14.2 3.2 2.9 2021 2022 2023 2024 2021 2022 2023 2024 Stores rollout d
Slide 5: Selected brands’ performance for 2024
Selected brands’ performance for 2024 shows ongoing trend of sales mix premiumization In-house brands #1 Spirits Vodka Wine Beluga Orthodox Belaya Sova Arkhangelskaya Troublemaker, Devil’s Tête de Cheval whiskey Island, rum & Golubitskoe Wines + 9% + 30% + 36% + 7% + 419% + 18% + 56% Partners’ brand
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 2022 2023 2024 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’ behavior
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 2,041 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 on local spirits market
Unmatched leadership on local spirits market The absolute leader in the Russian alcohol market(1) №1 vodka & flavored liquors producer(2) №1 flavored liquors producer 10,9% 13,3% 11,0% №1 whiskey producer №2 rum producer 23,1% 34,8% 23,3% 12,5% Sources: Rosstat (2024) Notes: (1) Based on sold volume
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 Higher profitability comparing to public Russian 2 041 # of stores (end of period) 1 810 retailers(1), Gross margin in 2024, % 1 657 1 508 1 580 1 351 1 426 29.8% 1 234 1 256 1 1
Slide 11: Winelab’s diversified product portfolio and strong financial results
Winelab’s diversified product portfolio and strong financial results SKUs structure(1) 70.0% (+11.5% y-o-y) 16.1% (+2.0% y-o-y) Share of Winelab Share of Winelab in Novabev by categories by brands(3) in total agencies’ Group’s total in-house brands brands revenue, 2024 revenue, 2024 Still and Beer G
Slide 12: Financial Results Update
FINANCIAL RESULTS UPDATE
Slide 13: Financial performance summary
Financial performance summary In RUB bn unless stated otherwise 2022 2023 2024 Change Y-o-Y Revenue reached RUB 135.5 bn growing at CAGR of 18.0% since 2022 Total shipment, mn 9L cases 18.6 18.8 18.0 (4.2%) 16% y-o-y revenue growth in 2024 # of stores 1 351 1 657 2 041 23.2% Revenue Revenue growth
Slide 14: Strong financial performance
Strong financial performance Net revenue(1) EBITDA Net income The company continued to RUB bn RUB bn % EBITDA margin RUB bn % NI margin demonstrate steady growth in net revenue, which reached 17.8% 16.5% 13.8% 8.7% 6.9% 3.4% 135.5 billion rubles CAGR 18% CAGR 4% The dynamics of CAPEX in 2024 is main
Slide 15: Consistent growth across all segments
Consistent growth across all segments Production & Distribution revenue dynamics Retail revenue dynamics Revenue growth was driven by RUB bn RUB bn an increase in the number of WineLab stores, as well as a Segment share, % Segment share, % focus on premium brands in the Group's portfolio, which allo
Slide 16: Debt profile of the Group remains stable
Debt profile of the Group remains stable Net financial debt(2) evolution Total debt statistics summary The current ratio of net debt to RUB bn EBITDA is consistent with the RUB mn 31.12.2023 31.12.2024 company's long-term strategy and Loans and bonds 17,577 34,412 stands at 1.9x by the end of 2024 L
Slide 17: Income statement
Income statement RUB mn 2022 2023 2024 Y-o-Y, % Net revenue 97,316 116,888 135,464 +16% Cost of sales (58,902) (73,618) (87,112) +18% Gross profit 38,414 43,270 48,352 +12% margin 39.5% 37.0% 35.7% (1.3 p.p.) G&A expenses (5,030) (5,224) (6,124) +17% Distribution expenses (20,055) (23,961) (30,030)
Slide 18: Balance sheet
Balance sheet RUB mn 31.12.2022 31.12.2023 31.12.2024 RUB mn 31.12.2022 31.12.2023 31.12.2024 ASSETS SHAREHOLDERS’ EQUITY AND LIABILITIES Non-current assets Equity and reserves Property, plant and equipment 24,094 29,662 35,195 Share capital 1,580 1,580 12,640 Goodwill 3,633 3,633 3,633 Treasury sha
Slide 19: Cash Flow
Cash Flow RUB mn 2022 2023 2024 Operating profit, continuing operations 13,055 13,934 12,345 Operating loss, discontinued operations - - - Depreciation and amortization 4,301 5,350 6,313 Other non-cash transactions 73 571 110 Other gain / losses 254 (44) 151 Changes in working capital (8,286) (6,879
Slide 20: Appendix
APPENDIX
Slide 21: Novabev Group’s efficient route to the market
Novabev 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 270 Saint Petersburg 1 vineyard 241 ha fertile vineyards Saint Petersburg Arkhangelsk 41 Arkhangelsk region 900 ha additional land Moscow Krasno
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 Sources: Company data Notes: Price range for every segment could diff
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 Novabev 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