Slide 1: Beluga Group 2019 Earnings Presentation
BELUGA GROUP 2019 EARNINGS PRESENTATION April 2020
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Beluga Group, Co. (the “Company“, or “Beluga • changes in consumer preferences and tastes, demographic trends or perceptions about Group”) and together with its subsidiaries. By attending the meeting where the presentation is health related issues; m
Slide 3: Financial and Operational highlights
BELUGA GROUP 2019 financial highlights +9,3% total volume +7,6% in-house volume Sales grew 18% and reached +26,2% volume of import 78 bln. Rubles* +22% volume of vodka Beluga Net Revenue increased Operating profit by 22% to increased by 34% to 4,4 bln. Rubles 53,1 bln. Rubles EBITDA grew 53% and rea
Slide 4: Consolidated Revenue and Gross Profit
Consolidated Revenue and Gross Profit Total Net Revenue Total Gross Profit Revenue breakdown by segments RUB bn RUB bn RUB bn* +22% +16% +24% Revenue growth by 38,9 22% in 2019 mainly 53,1 19,5 due to 9,3% volume 43,4 16,9 31,3 Alcohol increase as well as growth of Winelab retail chain 2018 2019 Gro
Slide 5: Consolidated EBITDA and Net Profit
Consolidated EBITDA and Net Profit Consolidated EBITDA G&A and distribution expenses RUB bn RUB bn EBITDA grew by 53% due to: +53% 6,5 G&A distribution overall volume growth; IFRS 16 improvements in effect 1,2 operating efficiency as a result of ongoing positive 4,3 effect from the efficiency improv
Slide 6: Segment EBITDA
Segment EBITDA* EBITDA breakdown by segments RUB bn Alcohol Retail Food Alcohol segment +43% +102% -33% EBITDA grew due to 1,5 4,9 improvements in 0,3 3,5 operating efficiency, sales mix 0,2 0,8 premiumization and effect from IFRS 16 implementation. 2018 2019 2018 2019 2018 2019 Since 2018 the Compa
Slide 7: Debt Profile overview
Debt Profile overview Debt statistics summary RUB mln 31 Dec’18 31 Dec’19 Cost of borrowing is stable - 9.0% p.a. in 2019 Debt 12,886 15,016 Net Debt/EBITDA* declined from 2.8X in 2018 to 2.6 in 2019 Cash and cash equivalents 1,083 1,085 Net Debt 11,803 13,931 Share of unsecured loans is stable (91%
Slide 8: Income statement
Income statement Rub mln 2017 2018 2019 YoY, % Net revenue 37,303 43,411 53,074 22% Cost of sales (23,628) (26,521) (33,547) 26% Gross profit 13,675 16,890 19,527 16% margin 36.7% 38.9% 36,8% -2.1 pp G&A expenses (2,951) (3,102) (3,042) -2% Distribution expenses (7,719) (10,269) (11,939) 16% Other i
Slide 9: Balance sheet
Balance sheet Rub mln 31 Dec’18 31 Dec’19 Rub mln 31 Dec’18 31 Dec’19 ASSETS SHAREHOLDERS’ EQUITY AND LIABILITIES Non-current assets Equity and reserves Property, plant and equipment 9,898 13,885 Share capital 1,940 1,940 Goodwill 3,095 3,511 Own shares repurchased from shareholders (545) (669) Inta
Slide 10: Cash Flow
Cash Flow Rub mln 2017 2018 2019 Operating profit 2,848 3,273 4,392 Depreciation and amortization 768 978 2,103 Other non-cash transactions 200 28 229 Changes in working capital (1,860) 466 (2,218) CF from operating activities 1,956 4,745 4,506 Interest paid (1,849) (1,927) (2,063) Income tax paid (
Slide 11: Appendix
Appendix 11
Slide 12: Diversified product portfolio: own brands
Diversified product portfolio: own brands Other spirits Vodka Brandy / Cognac / liquor Wine (gin, tequila, rum, etc.) Super premium Sub-premium / premium Middle Mainstream Sources: Company data 12 Notes: Price range for every segment could differ based on product category
Slide 13: Diversified product portfolio: imported brands
Diversified product portfolio: imported brands Other spirits Brandy / Cognac / liquor Whisky Wine (gin, tequila, rum, etc.) Super premium Sub-premium / premium Middle Mainstream Sources: Company data 13 Notes: Price range for every segment could differ based on product category. Whiskys Cigars Barre
Slide 14: High level of corporate governance with independent members on the Board of directors
High level of corporate governance with independent members on the Board of directors In June 2019, ALEXANDER MECHETIN NIKOLAY BELOKOPYTOV BELUGA GROUP reinforced CEO Chairman of the BoD the Board of Directors: Founder of Beluga Group CFO New members 4 on the Board of Directors SERGEY MOLCHANOV MIKH
Slide 15: Company strategy for further development
Company strategy for further development Brand portfolio Retail and distribution Расположение текста Расположение текста Diversified brand на цветной portfolio, coverage of плашке Continued development of the на цветной плашке allРасположение Сноска segments или примечание текста distribut