Massandra

Main article: Russian wine

For 2022:
The chief winemaker is Alexander Yakimenko.

2024:
General Director: Alexander Yakimenko

Vineyard area. Geography

In 2022, the total area of ​ ​ vineyards is more than 3.5 thousand hectares, it is planned to increase the area of ​ ​ vineyards. The building of the main winery is located in Yalta

A set of grapes

Cabernet sauvignon, merlot, bastardo, sangiovese, saperavi, sercelia, verdello Autochthonous varieties: kokur white, kefesia, sary pandas, ekim kara, jevat kara

Performance indicators

2023: 5-fold profit reduction to RUB 180.4 mln

The revenue of JSC "Production and Agrarian Association" Massandra "(Yalta, Crimea) in 2023 amounted to 2.81 billion rubles against 3.64 billion rubles a year earlier (a decrease of 22.8%; these and other indicators are given in accordance with Russian Accounting Standards/RAS/). The company's net profit in comparison with the same segments of time decreased from 906.1 million to 180.4 million rubles. This is evidenced by the data of the Kontur. Focus service, which TAdviser got acquainted with in May 2024.

It follows from these materials that the cost of sales of Massandra in 2023 amounted to 1.85 billion rubles, having decreased from 1.93 billion rubles in 2022. The gross profit of the wine producer decreased from 1.71 billion to 964.3 million rubles, and profit from sales decreased several times, to 239 million rubles.

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Unsplash

The commercial expenses of Massandra in 2023 amounted to 148.6 million rubles, which is less than the same costs a year ago in 151 million rubles. The company's accounts payable in 2023 amounted to 241.1 million rubles against 280.8 million rubles a year earlier. Accounts receivable on an annualized basis increased from 1.71 billion to 1.93 billion rubles.

According to Interfax, citing Massandra's reports, in 2023 the company received 39.8 million rubles of state assistance (against 26.3 million rubles in 2022), of which slightly less than 31 million rubles for the construction, reconstruction, modernization of production facilities and almost 8.9 million rubles for the purchase of agricultural machinery.

Massandra has not disclosed wine production since 2020. In 2019, the company produced 19.4 million bottles of this alcoholic drink, which at that time was a record figure for the enterprise. As of December 2023, Massandra has 8 wine production branches in Crimea.^[1]

History

2020: "Southern Project" bought "Massandra"

On December 14, 2020, the results of the auction for the sale of 100% of one of the largest Crimean wine-making enterprises of Massandra were summed Russia up. The company for 5.327 billion rubles is bought by the structure of the bank "" - Russia"."Southern Project

The starting price of the lot was about 5.3 billion rubles. The only competitor of the Southern Project company was Estate Group. During the auction, she offered a price equal to the starting price.

At the auction, Yuzhny Proyekt LLC sold a package of more than 3.5 billion ordinary shares with a par value of 1 rubles. apiece. In addition, the provision of an application for participation in the auction was set at 20% of the initial cost and amounted to 1.06 billion rubles.

According to Andrei Grigoriev, partner of Double Magnum Wine Consulting, if we are guided by the financial statements of Massandra, then we can say that the Southern Project got the enterprise for a high price, which corresponds to about 14 annual net profits, says. In a conversation with Vedomosti, he noted that the company, in addition to 4,000 hectares of vineyards and enterprises that can produce up to 19 million bottles of wine, received 7,000 hectares of free land at its disposal. They can be partially used for expanding vineyard areas, partially for other projects. In addition, Massandra is a very well-known brand that can be valued at at least $10 million, the expert said.

The Crimean parliament approved the privatization of Massandra in October 2020. The idea was proposed by the head of the republic, Sergei Aksenov.

The Ukrainian Foreign Ministry opposed the sale of the enterprise. The department said that Massandra is under the control of the Ministry of Agrarian Policy and Food of Ukraine and any alienation of the property of the enterprise will be a crime.

Since 2017, the Yuzhny Project has also owned the Crimean Novy Svet champagne factory, acquired for 1.5 billion rubles (at that time it became the largest deal with the former Ukrainian state property).^[2]

Notes