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Assets
Pernod Ricard Rouss (Perno Ricard Rus), a leader in the Russian premium alcohol market, distributes all brands from the strategic portfolio of Pernod Ricard Group (Absolut, Chivas Regal, Jameson, Martell, Ballantine's, Olmeca, etc.). The company also develops a line of successful local brands, including the legendary Armenian cognac "ArArAt" and premium vodka "Altai." The portfolio of Pernod Ricard Rouss brands includes almost all categories of the alcohol market.
Performance indicators
2023: Decrease in net profit by 5 times to 399.9 million rubles
The net profit of the French alcohol manufacturer Pernod Ricard (the concern owns brands of alcoholic beverages Chivas Regal, Jameson, Ballantine's, Ararat) in Russia in 2023 decreased 5 times - to 399.9 million rubles from 2.02 billion rubles in 2022. The revenue of P.R.Russ during this time decreased by 11.5% - from 19.21 billion to 17 billion rubles. This is evidenced by data on RAS, published in April 2024.
According to Interfax, citing materials from P.R.Rus, the company's gross profit in 2023 amounted to 5 billion rubles against 8.2 billion rubles in profit a year earlier. Advertising and marketing costs in 2023 decreased to 1.1 billion rubles from 1.9 billion rubles in 2022.
In August 2023, it became known about Pernod Ricard's plans to close its representative office in Russia. Then the general director of "P.R. Rus" Ignatius Arakelyan said that the company is working to stop operating activities, it has no other plans. According to Kommersant, by August 2023, most of the employees left the Russian structure of Pernod Ricard.
Despite the company's decision to close the representative office, Pernod Ricard brand products will still enter the Russian market through parallel imports. In particular, as noted by a company representative, Ararat cognac produced at the Yerevan Brandy Plant (EKZ) is supplied to Russia. According to the sources of the publication, the Russian market accounts for about 70-90% of the consumption of cognac of this brand, while there are no other markets with such consumption volumes.
The explanatory note to the accounting statements of P.R.Russ for 2023 states that the company does not have "circumstances indicating the presence of significant uncertainty in the company's ability to continue operations continuously."[1]
History
2023: Sale of Altai vodka license to Tatspirtprom
On June 28, 2023, it became known that Tatspirtprom JSC, one of the largest alcohol producers in the Russian Federation, entered into an agreement to acquire a non-exclusive license for the production of Altai vodka from the Russian structure of the French concern Pernod Ricard (PR).
Tatspirtprom's structure includes two alcohol plants, two distilleries, the Vigrosso winery, the White Kremlin brewery, the Alkotorg trading enterprise, and a logistics center. The leading brands are Tundra, Russian Currency, Graf Ledoff, Khanskaya, Akdov, Khlebnaya, Old Kazan, Tatarstan, Bugulma balm, etc. As for the vodka "Altai," it is positioned as a premium brand.
According to Interfax, referring to the materials of the public procurement website, the agreement on the use of the Altai vodka brand was concluded for a period of five years. The amount of the license agreement amounted to 125 million rubles at the rate of 24 rubles for each liter of drink produced. Thus, Tatspirtprom will be able to pour a total of 520.8 thousand decaliters of Altai vodka. It is said that the purchase was made from a single supplier - Altai Holding LLC, the founder of which, according to the Unified State Register of Legal Entities as of June 28, 2023, is a simplified JSC Perno Ricar Europe, Middle East and Africa.
Interfax also notes that Tatspirtprom has been bottling Altai vodka since 2018 under license at its Usadsky distillery. As part of the contract production agreement, the company has fully mastered the technology of releasing this drink. In general, according to the State Alcohol Inspectorate of Tatarstan, in 2022 Tatspirtprom increased vodka production by 13% compared to the previous year - to 9.3 million decaliters. At the same time, the volume of alcohol production rose by 8%, reaching 3.8 million decaliters.[2]
Notes
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