22 May 2008 - Synergy, Co., the fastest growing leasing producer of distilled spirits in Russia, announced today its financial results for the full year ended 31 December 2007, prepared in accordance with IFRS. The financial statements will be published later on today.
Synergy’s management will host a conference call at 17.00 Moscow/14.00 London/9.00 New York time on 26 May 2008 to discuss the Company’s financial results (please see the dial-in details on company’s site). The slides of the presentation for the conference will be available at our web site shortly before the call. There will be a Q&A session following the presentation.
2007 financial highlights:
· 58% increase in Revenue
RUB11.352 billion in 2007 vs RUB7.166 in 2006
· 96% increase in Gross profit
RUB3.899 billion in 2007 vs RUB1.990 in 2006
Gross margin changed to 34% in 2007 from 28% in 2006
· 66% increase in Results from operating activities
RUB1.589 billion in 2007 vs RUB0.953 in 2006
Operating profit margin changed to 14% from 13% in 2006
· 58% increase in EBITDA (unaudited)
RUB1.803 billion in 2007 vs RUB1.139 in 2006
EBITDA margin remained unchanged at 16% in 2007
· 30% increase in Profit for the period
RUB0.896 billion in 2007 vs RUB0.691 in 2006
Net profit margin changed to 8% in 2007 from 10% in 2006
· 23% increase in Earnings per share
RUB66.35 in 2007 vs RUB54.11 in 2006
“We are completely satisfied with 2007 results that are in line with our plans”, said Alexander Mechetin, CEO of Synergy.
“During 2007 we took important steps towards achieving our strategical aim of becoming a dominating company in the Russian alcohol market. The acquisitions of Beluga and Belen’kaya – our starring brands - contributed to our brand portfolio and financial results and proved one more time Synergy’s ability to act as an effective consolidator. We demonstrated our consolidation experience once more, having purchased the Myagkov brand – one of the leading vodka brands in the sub-premium segment - in March 2008.
It was Synergy that made the first IPO in the Russian distilled spirits sector last year. A total deal size amounted to US$190 million.
We are happy to enter 2008 year as a dynamically developing company that operates in the largest vodka market in the world. We continue to focus on building our market leadership, increasing our efficiency as a company, and delivering significant value for our customers and shareholders”, concluded Mr. Mechetin.