12 Apr 2010 13:29

Synergy ups alcohol product shipment 5.5% to 21 mln liters in Q1

MOSCOW. April 12 (Interfax) - The company Synergy shipped 20.82 million liters of vodka and liquor in the first quarter, a 5.5% year-on-year increase, the company said in a press release.

It cited Synergy CEO Alexander Mechetin as saying this increase indicated the effective development strategy the company opted for in mid-2009, particularly consolidated company distribution systems and new marketing programs. Synergy produces alcohol products at seven plants.

Company sales revenue for last year increased 8% to 18.07 billion rubles, EBITDA rose 17% to 2.92 billion rubles, and the EBITDA margin went up to 16% from 2008's 15%. Net profit, however, decreased 10% to 1.15 billion rubles.

In November 2007, the company went public with an IPO on both the RTS and MICEX, placing 2.72 million shares a $70 per, and raising $190 million. In mid-October last year, Synergy conducted an SPO, placing 4 million shares (around 27.93% of charter capital) at $20 per, raising $80 million. The company's primary owners are Mechetin and Federation Council member Valentin Zavadnikov.