Business news from Ukraine

Odesa Cognac Factory ended 2023 with loss

29 March , 2024  

PrJSC Odesa Cognac Factory, one of the largest cognac producers in Ukraine, reduced its loss to UAH 6.658 million in 2023 compared to a net loss of UAH 44.434 million in 2022.

According to the company’s report in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its assets decreased by 2.7% to UAH 989.587 million over the year, while total receivables decreased by 7.9% to UAH 575.267 million.

At the same time, the company increased its revenue by 22.8% year-on-year to UAH 1.166 billion. At the same time, the staff of Odesa Cognac Factory PJSC decreased by 45 people over the year to 300 employees.

According to the report, at the annual shareholders’ meeting on April 29, it is planned to terminate the powers of the supervisory board and make a number of changes to the company’s charter, and then delegate the powers of the current chairman of the supervisory board to sign contractual relations with the newly elected members of the board.

According to the Unified State Register of Legal Entities and Individual Entrepreneurs, Odesa Cognac Factory PrJSC is owned by Ukrainian businessman and owner of the Global Spirits alcohol holding Yevhen Cherniak.

Global Spirits is a large international alcohol holding company that unites Khortytsia Distillery (Zaporizhzhia), Odesa Cognac Factory (Odesa) and Ukrainian Distribution Company. The central office is located in New York (USA).

The holding owns more than 15 local, regional and international brands: “Khortytsia, Pervak, Shustov, Morosha, Oreanda, San Marino, Mikado, Medovukha, etc.

Global Spirits products are exported to more than 87 countries.

On February 24, 2022, Global Spirits revoked its license to manufacture and distribute its products in the Russian market due to Russia’s military invasion of Ukraine.

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