Moscow distillery Cristall ups net profit 80% to 4.9 mln rubles in 9M
MOSCOW. Nov 16 (Interfax) - Moscow distillery Cristall, one of the leading spirit producers in Russia, boosted its net profit 80% year-on-year to 4.9 million rubles in January-September 2012, the company reported in its quarterly financial statement.
Revenue rose to 3.5 billion rubles, compared to 3.4 billion rubles in the same nine months of 2011. Gross profit was down from 776.8 million rubles to 747.9 million rubles.
In Q3, Cristall sold 10.52 million liters of spirit for nearly 2.3 billion rubles. It exported 658,000 liters for 80.2 million rubles.
One of Cristall's largest partners - Cristall-Lefortovo - accounted for 67.5% of sales (7.1 million liters) in physical terms and 65% of sales (almost 1.5 billion rubles) in value terms in Q3.
However, the newspaper Kommersant reported that after the Moscow-based plant's main facilities are moved to the Korystovo production site at the beginning of next year, Cristall-Lefortovo's products (the Staraya Moskva and Prazdnichnaya brands) will no longer be produced at Cristall. This also holds true for the company Kazyonka, which produces Kazyonka vodka.
Cristall vodka itself will continue to be poured outside of Moscow, as will vodka brands owned and managed by Vasily Anisimov's Central European Distribution Company (Putinka, Cristall, Stolichnaya and others).
The enterprise is able to churn out almost 150 million liters of spirit of 75 brands each year. Last year it produced 97.04 million liters of vodka and liquors, compared to 97.83 million liters the year before. Vodka accounted for the lion's share of production - 91 million liters, or 94.3%.
Cristal generated 5.686 billion rubles in revenue in 2011, compared to 5.123 billion rubles in 2010. Net profit was down from 266.9 million rubles to 188.1 million rubles.
Cristall's main owners are structures belonging to the former co-owner of Metalloinvest, Vasily Anisimov. They secured a controlling stake in the enterprise at the end of 2009 from VTB , which in turn bought this stake from OJSC Rosspirtprom for debt.
