General director of euroopt filip artemenko. What we know about Euroopt: assets, owners, market share, scandals, income. Financial Director of Eurotorg LLC

MARCH against the company "Eurotorg" - the owner of the largest retail chains in Belarus "Euroopt", "Hit!", "Magic" and others. The retailer was accused of violating the antimonopoly legislation - pressure on their suppliers, which, in turn, should have provide a higher level of prices in other retail chains... Using the informational occasion, we decided to summarize what is known today about, possibly, the largest private non-public company in Belarus.

Investigation by MART: Euroopt did not allow competitors to trade cheaper /

The company was founded in 1993, started with small wholesale supply of food products. Your first retail store opened in 1997. At the beginning of June 2019, the chain consisted of 822 stores. The company is the absolute market leader, the closest competitor ("Hippo" + "Belmarket"), operating in modern forms atakh trade (SFT), lags behind it by 5 times with a market share of 8.2%.

Retail store "Euroopt" on the street. Kazintsa, 2017. Photo: Google Maps / Ivan Radziankou

Retail sales bring up to 90% of the turnover of the group of companies, which, in addition to grocery stores, includes StatusBank, E-delivery and Hypermall online stores, retail stores household chemicals"Magic", shops consumer electronics Technoplus. In addition, the group has production assets (the Dzerzhinsky meat processing plant and the Barentsevo fish packing plant). Full list controlled companies can be viewed here. Eurotorg, StatusBank, Evrooptavto, CityBatl, E-Market, Retorcia-Invest, Warminexpo, Yulain, BelRosCompany, Dzerzhinsky Meat Processing Plant, Techno Media Trade , PakHouse, Discount Club, Cooperation, Barents, EurooptAgro, ElitPartner

The size of the authorized capital of Eurotorg is $ 120 million. The ultimate beneficiaries of the group are Vladimir Vasilko (49.75%), Sergey Litvin (48.75%), Alexander Litvin (1%), Andrey Zubkov (0.5%). The majority shareholders of the company reside abroad. In the early 2000s, they were charged in absentia in a criminal case of non-payment of customs duties, after which they were forced to emigrate. In Belarus, the company is run by Alexander Litvin (chairman of the board of directors) and Andrei Zubkov (general director).

The company estimates the Belarusian food retail market at 22 billion rubles, its share at 19%. According to Belarusian legislation, the share of one network should not exceed 20% for a single administrative unit. However, for some regions, exceptions were made - for example, as an experiment in the Orsha region.

Vitebsk region is not ready to completely transfer trade to Euroopt /

The company positively assesses the growth potential of modern forms of trade, according to its calculations, in Belarus this segment now occupies less than half of the market and is at the level of Poland and Russia 10 years ago. The share of Euroopt in SFT exceeded 40% last year.

Eurotorg is an unattainable leader in Belarus in the delivery of food through online orders - it controls about 98% of the market with a volume of approximately 235 million rubles (3.6 million orders in 2018). The company has a powerful warehouse infrastructure and its own vehicle fleet of 0.5 thousand vehicles.

The group received a license to provide postal services last year.

The revenue of Eurotorg in 2018 amounted to 4.5 billion rubles, net profit - 66 million, the company's assets amounted to 2.4 billion rubles.

The main revenue of the company is generated by supermarkets with a sales area of ​​about 200 square meters (44%) with an average number of warehouse items of 9.5 thousand.

Several years ago, Eurotorg changed its development strategy, changing its priorities from purchase and construction own stores and focusing on rent retail space small format. This was due, among other things, to the high level of debt of the enterprise: at the end of 2015, the debt burden (debt / EBITDA) reached 5.6x. This raised concerns among lenders and suppliers. However, in recent years, Eurotorg has reduced the debt to 2.9x and now considers the level of debt and the schedule of payments on them to be “comfortable” until 2022.

One of the shops in the Krupsky District, built specially for Euroopt. Photo: evroopt.by

Debt reduction remains among the priorities of the company. She is looking for a buyer for her banking asset, her affiliated company sold a stake in the Dobronom network, and the group began to get rid of the retail properties that are in her ownership.

Eurotorg sold a large shopping and entertainment center in Minsk to Korona /

Eurotorg is one of the most active borrowers and is constantly looking for new forms of attracting financing. In 2017, she was the first among Belarusian firms to borrow at open international financial markets by issuing Eurobonds for $ 350 million.

In 2018, Eurotorg tried to go public, being ready to put about 30% of the companies' shares on the stock exchange and hoping to get up to $ 250 million for them. However, demand from investors did not meet expectations, and the company postponed its IPO plans until the market conditions improved.

Eurotorg is also trying to attract financing from the Russian market.

At the same time, Eurotorg's borrowing strategy is based on reducing debt in foreign currency. Its largest national creditor is now Belarusbank (the total amount of loans is more than 677 million rubles).

Car shop "Euroopt". Photo: evroopt.by

The company has the largest loyalty program in the country: 2.6 million customer cards were issued, more than 100 partners who own more than 1.4 thousand take part in the discount program. retail outlets... More than 2.3 million people have taken part in the Eurotorg lottery "Luck to boot" since the start.

Eurotorg has already become a symbol of the development of big capitalism in Belarus, before which a small and medium business turns out to be powerless. From time to time the company is attacked by lawyers of SMEs and suppliers and is forced to come up with explanations of its positions.

Obviously, it is very difficult for small and medium-sized businesses to compete with international companies operating in local markets. One has only to remember that the Belmarket chain, which has been built in Belarus by Russian investors since 2007, and which eventually merged into Hippo, could not stand the competition with Euroopt. At the time of the sale, the chain consisted of 71 stores, what can we say about smaller chains that own only a few points in narrow locations?

And it would be naive to expect that a major player will not use the so-called. “Purchasing power” in relations with suppliers - he directly points out this in his presentation materials, describing the investment attractiveness of the company. It is another matter when the use of this force exceeds the framework outlined by the national legislation on fair competition (we also admit it is a very young concept for Belarus). This is a rhetorical question, and, unfortunately, MART could not answer it clearly this time.

Dear employees of Eurotorg LLC!

I congratulate you on your professional holiday - Trade Workers Day!

Your company is the largest trade organization in the country, which every day provides modern and high-quality service to thousands of buyers in all corners of Belarus. It employs almost 40 thousand people, and these are highly competent and professional personnel, whose work is in demand by the economy and society.

It is very important that your trading network strives to work not only in large cities, but also in regional centers, urban settlements, and in the countryside. The first results of the experiment on integrated trade services for villagers in the Orsha region, which the company has recently started, command unconditional respect. The goal you are striving for - to provide rural residents with a modern and decent level of trade service - is not an easy task, but it is really significant.

Euroopt is a modern company that meets the needs of the time. You use advanced business technologies and make purchases pleasant for many thousands of people!

Congratulating you on your professional holiday, I sincerely wish your company further success in its development! I would like to wish your team fruitful work, prosperity, confidence in the future! Good health, optimism, prosperity and good luck to each of you and your loved ones! May your success and your creative work in retail continue to contribute to the economic and social development our country, helps to improve the quality trade service population!

Vasily MATYUSHEVSKY,

First Deputy Prime Minister of the Republic of Belarus

Dear employees of the company!

On behalf of the Board of Directors, let me sincerely congratulate you on your professional holiday - Trade Workers Day!

Modern retail is a complex complex different types activities and efforts of specialists different professions... Direct work with customers on the sale of goods and receiving payments is the most basic and visible part of it. And the rear is provided by commodity experts and accountants, logistics and marketing specialists, technologists and engineers, builders and drivers, programmers and economists. Our friendly and close-knit team numbers almost 40 thousand people, and each of you is a high-level professional!

Our company does not slow down the pace of development for a minute. We open new stores, launch interesting marketing projects, implement successful financing programs, and build up the loyalty potential of our customers. The scope of our company is huge, and its popularity with customers is incredible. All this became possible only thanks to your sincere and selfless work, your desire to achieve real success and prosperity together.

Congratulating you on the Day of Trade Workers, I would like to wish you from the bottom of my heart good health, happiness and success, new labor victories and, as a result, material well-being and confidence in the future! May everything be good for you and your loved ones! Let the work bring satisfaction, and let the fire of love and mutual understanding always burn brightly in the family hearth!

Congratulations, colleagues!

Alexander LITVIN,

chairman of the board of directors LLC "Eurotorg"

Dear Colleagues! Dear friends!

Please accept from the shareholders and management of our company the most sincere and friendly congratulations on your professional holiday - Trade Workers Day!

Enterprises and subdivisions of our holding structure occupy a special place in the market retail Belarus. This year our company celebrates its 25th anniversary. And it can be noted without false modesty that over the years the Euroopt brand has had a huge impact on the development of the industry.

We have proved by our work that it is possible to successfully develop and provide high-quality trade service in all formats and in all corners of the country, including countryside... We have opened more than 600 retail facilities in the capital and regional centers, in regional cities and urban settlements, in agricultural towns and villages. We have managed to create and make a convenient and popular online trading service, which is available today for all residents of Belarus.

Stores "Euroopt" and "Brusnichka", Internet hypermarkets "E-delivery" and "HyperMall", a network of markets household appliances and electronics "Technoplus", complementary to each other, have created a full-fledged complex of trade services for the population at the modern level in the Belarusian market. This year the system was supplemented with one more brand - "Magic". The shops of the new trade network of beauty, cleanliness and hygiene goods were liked by the customers, and the hypermarket recently opened in Minsk has become the country's largest facility for the sale of goods of this category with the largest assortment.

Our successes and our achievements are the result of the joint work of the entire team. Today, the holding employs almost 40 thousand people, whom our company has provided stable employment, decent wages, strong social package... And the contribution of each of us to the development of Eurotorg is sincere attitude To labor duties, honest work, adherence to corporate standards.

Being the leader of an entire industry is not an easy mission. We must comply with high level, which they set for themselves. And we cannot abandon the basic principles of our work - to provide Belarusian buyers with high-quality shopping service, the most wide range of and fair, reasonable prices. So it was 25 years of our development - so it will be in the future!

Let me congratulate you, true trade professionals, on the holiday! And wish you success, self-realization, confidence in the future, career and professional growth, courage in achieving goals! Good health to you and your loved ones, prosperity and prosperity! And, of course, good luck - including the one "to boot"!

May our joint work continue to be pleasant for us, necessary for buyers and useful for the country!

Happy Holidays!

Andrey ZUBKOV,

General Director of Eurotorg LLC

Dear Colleagues! Dear friends!

Perhaps, it is customary for us on the eve of the holidays: New Year, birthday or professional celebrations - to sum up, draw conclusions and forecasts, make plans for the future ...

I will not hide: every year and every task for our team is a kind of challenge to ourselves. We always set goals to be better, to break our own records, to pleasantly surprise ourselves, colleagues and, of course, our customers. In recent years, our company has made a lot of deafening breakthroughs, continuing to demonstrate by its own example what quality, responsibility and creativity mean in Belarusian retail.

On the eve of our common holiday - Trade Workers Day - I want to express my personal admiration for each of our huge team of many thousands. Every day at your workplace, each of you performs a small feat, thanks to which Euroopt continues to occupy the first lines of numerous ratings, the main one of which is the undeniable love and trust of our customers.

We still have many tasks and projects ahead of us, opening new horizons, achieving and raising the targets set for ourselves. And I know for sure that new victories are our common work, which we can only do together.

Dear colleagues, I would like to wish you strength and patience, inspiration and enthusiasm, faith in yourself and, of course, personal happiness and prosperity. We are proud of our team! We are proud of you!

Evgeny ZHIGIMONT,

First Deputy General Director of Eurotorg LLC

Dear Colleagues!

I sincerely congratulate you on our common holiday - Trade Workers Day! People working in this field have always been distinguished by their special principles, perseverance and hard work, and therefore our holiday is a day of really strong-minded professionals who are passionate about their work.

In recent years, Eurotorg has not only strengthened its leadership position in domestic market, but also loudly declared itself on the international markets: the demand for the Eurobonds issued by us exceeded the supply by almost six times, which made it possible to attract the investments necessary for development on favorable terms. Moreover, Eurotorg became the first company in Belarus, whose securities issue was named “Best Debut in Emerging Markets” in the framework of the prestigious Global Capital - Bond Awards. Our company continues its rapid development. And without a shadow of a doubt I will say that we did it all together!

On the occasion of the professional holiday, I want to wish all employees of our company - in Minsk and in the regions, in offices and on the front lines - success in their careers, mutual understanding in the family and team, achievement of goals, financial well-being, harmony with oneself and the world, and, of course , good health. Have fun with what you are doing, create a holiday around you every day. May your every step and every action bring tangible results and delight you day after day!

Happy Holidays!

Alesya Sapunova,

CFO LLC "Eurotorg"

We have built 4 graphs that show that the Euroopt retail chain is a business that is growing exponentially. Growth started suddenly.

The history of Eurotorg, which owns the largest private retail chain in Belarus, can be divided into two stages. The first looks like this.

• 1993 - the beginning of the company for the wholesale of food products.
• 1997 - opening of the first Euroopt store in the format of small wholesale trade for retail buyers.
• 1998-2008 - opening of 8 stores and the first hypermarket.

2009-2010 the second stage begins - retail business Eurotorga is growing impressively fast.

Rapid growth of the network

Every year the number of Euroopt employees increases by 6-8 thousand

Annual revenue is approaching $ 2 billion.

Net profit is growing steadily

Source: data of Eurotorg LLC, own calculations based on the current exchange rate

In 2011, the ruble devalued. In dollar terms, Eurotorg's profit increased marginally. But then it grew rapidly - just like revenue.

Over the past five years, about $ 700 million has been invested in the development of the network, of which $ 500 million was financed from loans.

At the end of last year, in terms of retail turnover, Eurotorg was second only to the state-owned Belkoopsoyuz, which has more than 9 thousand retail facilities throughout the country. Judging by the schedules and statements of the Eurotorg management, the company intends to be the number one retailer.

But neither the top management, nor the founders of Eurotorg have yet revealed the most important mystery of the company: what exactly happened in 2009-2010, after which the company began to grow so rapidly?

Foundation date: 1993 year.

General director: Andrey Zubkov.

Owners: Sergey Litvin, Vladimir Vasilko.

Business model: Prices for some products in the Euroopt chain are lower than in other retail chains.

Businesses that are associated with the Euroopt network and its owners: JLLC "Minsk Melkombinat", CJSC "Minsk Plant of Grape Wines", Eurotorginvestbank, sausage factory, production of preserves, dumplings ("Economy market") in Minsk and Minsk region, chain of stores "Eurotorg" in Russia, retail chain Fresh Market in Lithuania.