Novabev reports 2024 revenue growth alongside retail expansion
Novabev’s annual results combine record revenue and retail growth with lower profit, financing pressures and stronger cash generation.
Novabev Group increased 2024 revenue by 16% to a record RUB135.5 billion. The Russian alcoholic-beverage producer and distributor reported its annual results on 26.03.2025. Sales including excise but excluding value-added tax rose 12% to RUB167.6 billion.
Gross profit grew 12% to RUB48.4 billion. Earnings before interest, tax, depreciation and amortisation, or EBITDA, remained broadly stable at RUB18.7 billion, while net profit declined to RUB4.6 billion. Net profit excluding specified non-operating costs reached RUB5.9 billion.
Retail expansion and shipments
WineLab’s store count rose 23% to 2,041. The chain increased total sales by 27.5%, customer traffic by 11.2% and the average transaction by 14.6%. Like-for-like sales grew 11%, and click-and-collect orders increased 39%.
Alcohol shipments declined 4.2% to 16.2 million decalitres. Proprietary brands fell 4% to 12.8 million decalitres; imported brands declined 4.8% to 3.4 million. The group owns five distilleries, one pure-spirit plant, Golubitskoye Estate winery, its distribution system and WineLab, alongside exclusive international-brand distribution.
Profitability and financing
Novabev attributes revenue growth to retail expansion and premium brands. The EBITDA margin fell from 16.5% to 13.8%, with cost inflation, staffing pressures and immature stores weighing on profitability. Management expected newer outlets to contribute more as they matured in 2025.
Year-end net financial debt relative to EBITDA on the IAS17 basis, excluding lease liabilities, stood at 0.9 times. The ratio including lease liabilities was 1.9 times. Store openings and information-technology investment increased lease liabilities.
Interest payments rose 77%, while reported net profit fell 43%. The adjusted profit measure excludes non-cash effects from lease accounting under IFRS16, RUB0.97 billion, and tax-rate changes affecting provisions, RUB0.39 billion. The annual-results announcement distinguishes these adjustments from reported profit.
The group ended 2024 with RUB22.5 billion in cash and deposits. Free cash flow exceeded RUB18 billion, increasing 141%. Management linked cash generation to:
- Working-capital optimisation.
- New supply chains.
- Store-assortment changes.
- New inventory-management technology.
Company and contact
Novabev Group. Corporate telephone: +7 495 510 26 95. Website: novabev.com.
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