2 January 2024

Despite the rather slow recovery of the Ukrainian beer market, the financial results of Obolon Corporation for the first nine months of 2023 were strong.

According to the data of the interim financial report of the Obolon Corporation, the company's total revenue during January-September 2023 increased by almost 30% compared to the corresponding period of 2022 and amounted to UAH 8.6 billion.

Over the same period of time, Oboloni's operating profit amounted to almost UAH 2 billion (UAH 1.3 billion in 9m 2022), net profit - UAH 1.6 billion (UAH 890 million in 9m 2022).

So mainly due to the significant problems in the business of the main competitors caused by the full-scale war, as well as due to the stability of its own business operations, during 2022-23 the company significantly improved its financial performance and overall financial standing.

In terms of financial performance year 2022 was the most successful for the company in the last 10-15 years (the consolidated value of the corporation's net profit was UAH 1.1 billion compared to a loss of UAH 131 million in 2021 year, operating cash flow reached UAH 1.3 billion against only UAH 377 million in 2021). In 2023, accordingly, the company's results improved even more.

First of all, we should note a significant decrease of Obolon debt burden - as of the end of 2021, the total debt of the Obolon Corporation amounted to about UAH 1.6 billion, at the end of 2022, its amount decreased to UAH 900 million, as of September 30, 2023, the company's debt amounted to slightly more than UAH 200 million.

At the moment, the main source of the company's assets financing is its own capital, so its overall financial position is acceptable.