Bulgari

Performance indicators

2024: Revenue reduction in Russia by 61% to RUB 430.27 mln

At the end of 2024, the manufacturer of luxury goods Bulgari (Bulgari Rush LLC) recorded revenue in Russia in the amount of 430.27 million rubles. This is 61.9% less than the previous year, when the company received 1.13 billion rubles. Such data are reflected in the financial documentation, which TAdviser got acquainted with in early May 2025.

Revenues from the sale of products, goods, works and services on an annualized basis decreased by 60.6% - from 1.14 billion rubles to 449.94 million rubles. The cost of sales decreased from 1.03 billion rubles to 305.37 million rubles, that is, by 70.4%. Commercial expenses fell by 77.8%, amounting to 101.67 million rubles against 458.48 million rubles in 2023. At the same time, payments to suppliers (contractors) for raw materials, materials, works, services jumped by 160.5% - from 288.04 million rubles to 750.38 million rubles. Expenses in connection with the remuneration of workers fell by 82.7% - from 250.89 million rubles to 43.43 million rubles.

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Фото: Freepik

Bulgari's gross profit from operations on the Russian market in 2024 amounted to 124.9 million rubles, which is 25.8% more than in 2023, when it was 99.29 million rubles. Profit from sales was registered in the amount of 23.23 million rubles, while a year earlier the company suffered losses from sales in the amount of 359.2 million rubles. Profit before tax amounted to 165.42 million rubles against 329.77 million rubles in losses in 2023. The company received 175.88 million rubles of net profit in 2024 against 321.78 million rubles of net losses a year earlier.

Accounts receivable as of December 31, 2024 are indicated at 97.76 million rubles, which is 10.1% less than the previous year (108.7 million rubles). Accounts payable decreased by 97.9% - from 647.21 million rubles to 13.44 million rubles.^[1]

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