Business news from Ukraine

Odesa Cognac Factory ended 2023 with loss

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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“Chateau Chizay” has opened new cognac factory in Transcarpathia

“Chateau Chizay Wine Company” (Beregovo, Transcarpathian region) has launched a new cognac and grape drink production plant in Beregovsky district of Transcarpathian region, said the first deputy head of the regional military administration (OVA) Miroslav Biletsky.

“The launch of such an enterprise during the war is a powerful signal for everyone around. For Zakarpattians – despite objective circumstances – new jobs are opening in the region, for investors – our region is working and developing despite everything. This is important for the economy of the region, because the enterprise will regularly pay taxes and fill the budget. After all, this is another tourist and image bait, which will attract connoisseurs of quality Ukrainian product to Transcarpathia”, – he wrote in Facebook.

It is indicated that the production capacity of the enterprise will consist of an alcohol storage facility with a capacity of 600 thousand liters, distillation department – 1800 liters per day. For aging of strong drinks 60 oak barrels have been installed, and there are plans to increase them up to 300. The raw material base will be the vineyard, for which 2 hectares have been allocated.

The new plant has become a part of the winemaking complex of the enterprise, covering three vineyards, primary and secondary grape processing facilities, wine storage, laboratory and offices.

“The highlight of the new drink is that it will be aged in barrels from under wines, including the well-known far beyond the borders of Transcarpathia “Rose of Carpathians”, – added Biletsky.

Winery complex “Chateau Chizai” was founded in 1995 in the tract Chizai, near the town of Beregovo in Transcarpathia. The winery has its own raw material base – 272 hectares of vineyards, annually produces 1.3 million bottles of wine from their harvest and stores in its own cellar 250 barrels of original Transcarpathian wines.

In 2022, the net profit of LLC “Chateau Chizay” decreased to UAH 4.31 million from UAH 69.78 million a year earlier, the revenue of the company – to UAH 4.31 million from UAH 6.92 million.

The ultimate beneficiary of the company is a US citizen Gutman Hugo, who owns 100% of shares.

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