3 Jul 2018 14:57

Rosinter founder elected to Beluga Group board

MOSCOW. July 3 (Interfax) - Shareholders of Beluga Group , one of Russia's biggest producer of alcoholic beverages, made major changes to its board of directors at the annual meeting, electing four new members out of seven, the company said in materials.

One independent director elected is the well-known businessman Rostislav Ordoyevsky-Tanayevsky Blanco, the co-founder of Russian Federation of Restauranteurs and Hoteliers and the founder of Rosinter Restaurants Holding which operates the Il Patio, Planeta Sushi, Shikari, American Bar & Grill and Mama Russia chains, among others.

Remaining on the board is Beluga CEO Alexander Mechetin, Deputy CEO Sergey Molchanov and CFO Nikolay Belokopytov.

The other new members, in addition to Ordoyevsky-Tanayevsky Blanco, are Konstantin Prokhorov, Mikhail Kashirin and independent director Alexander Ikonnikov.

The press release also said that shareholders had decided not to distribute profits for the 2017 fiscal year and not to pay dividends.

Beluga Group boosted revenue 4% to 37.3 billion rubles in 2017, EBITDA rose 13% to 3.625 billion rubles and net profit was up to 655 million rubles compared to 275 million rubles in 2016. The revenue of the alcohol segment rose 4% to 30.393 billion rubles and the food segment - 3% to 6.779 billion rubles.

The company increased alcohol sales 4% to 12.744 million decaliters last year with sales of its own brands rising 2% to 11.819 million decaliters.

Beluga Group is the leading producer of alcohol goods in Russia and also imports spirits. The company operates six plants. Its brand portfolio includes Beluga super-premium vodka, premium vodka Veda, sub-premium vodka Myagkov, middle price vodka Belenkaya, low-middle vodka Gosudarev Zakaz, brandy Zolotoy Reserv. The company has a 16% market share in Russia.

The company is also the exclusive distributor of William Grant & Sons, (Glenfiddich, Grant's, Clan McGregor, The Balvenie, gin Hendrick's and Irish whisky Tullamore Dew) as well as products from French house of Camus cognac and other brands, including the Latvijas balzams range of herbal liqueurs.

Beluga Group shares are traded on the Moscow Exchange ; its principal beneficiary is Mechetin.