SOKOLOV Jewelry Holding, the first Russian jewelry company to enter the public debt market in December last year, disclosed its financial statements in accordance with International Financial Reporting Standards (IFRS).
The net revenue of the holding (excluding VAT, customs and other mandatory deductions) amounted to 26.9 billion rubles, an increase of 22% since 2021. EBITDA increased by 93% to 4,455 billion rubles.
"The net debt/EBITDA decreased from 2.2x in the first half of 2022 to 0.98x as of December 31, 2022," says Vladimir Dyakonov, the financial director of the holding. "This was due to both the growth of the scale of the business and a significant increase in the efficiency of operational activities."
Earlier - on March 28, 2023 - SOKOLOV paid the first coupons on the bonds of its debut issue on MOEX for 3 billion rubles. The amount of the first coupon income was 100.23 million rubles.
SOKOLOV today is the market leader in terms of jewelry production and a leading player in the jewelry retail market.
Today SOKOLOV brand unites the largest jewelry production in Europe (20 million items weighing more than 40 tons), a refining plant, a pool of 4,500 wholesale distributors in Russia, as well as its own and omnichannel retail based on direct communication with customers through a mobile application, website and a network of more than 400 branded stores.
Alex Shishlo for Rough&Polished
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