The Eurotorg company, which manages the Euroopt retail chain, never ceases to amaze with its pace of development. Today the chain announced the opening of another hypermarket - in Gomel. “About Business.”, carefully observing the development of the retailer, compiled a list of facts about Eurotorg that are impressive.
1. Eurotorg’s revenue is twice as much as EPAM and Wargaming combined
In 2014, the retailer’s revenue amounted to $2 billion 541 million.
EPAM Systems revenues for last year were $730 million. Wargaming has not published its financial results lately. SuperData estimates that World of Tanks brought in $506 million for WG last year.
2. Eurotorg is the largest employer company in Belarus
Today it has 30,000+ employees.
For comparison, according to the latest data, at MAZ there are 18.6 thousand workers, at Belaruskali - 17.5 thousand, at the Minsk Tractor Plant - 16.7 thousand.
And only the staff of the Belarusian Railway is larger than that of Eurotorg - 81.7 thousand. However, the Belarusian Railways is not one legal entity, but a state association that includes dozens of legal entities.
3. The founders of Eurotorg are companies registered on the islands
British Virgin Islands. Photo from the site www.santour.ru 49.75% of the authorized capital of Eurotorg LLC belongs to LITINVEST LIMITED, registered in Cyprus. Another 49.75% belongs to another Cypriot company, CURGIL VENTURES LIMITED.
In turn, LITINVEST LIMITED is fully owned by the company EUROBIN INVESTMENT LTD., registered in the British Virgin Islands - its 100% owner is Belarusian citizen Sergei Litvin.
The sole founder of CURGIL VENTURES LIMITED is another company from the Virgin Islands - DENISON FINANCE CORP., wholly owned by Belarusian citizen Vladimir Vasilko.
4. Eurotorg is growing at the speed of a successful IT company
Like Facebook, for example. Well, almost like Facebook.
Founder and CEO of Facebook Mark Zuckerberg. Photo bkmag.com Compare the CAGR (compounded annual growth rate) revenue figures for Eurotorg and the social network founded by Mark Zuckerberg in recent years.
Facebook revenue dynamics, $ million
INTRODUCTION
Full name of the company: Limited Liability Company "Eurotorg" (hereinafter LLC "Eurotorg"); the organizational and legal form of ownership of which is private with the right of economic management. The company is registered at the address: 220099 Minsk, Shchomyslitski village, western industrial center of CHPP-4 on September 7, 2000. (until this point, since 1996, Eurotorg was a closed joint-stock company, reorganized from an individual entrepreneur).
Eurotorg LLC is the private property of two founders - Yuri Vasilievich Bashkirov and Andrey Ivanovich Rudenkov. The organization’s activities are managed by director Andrey Vladimirovich Zubkov.
The company operates on the basis of state registration certificate No. 1011568731, issued by the Minsk City Executive Committee, which gives the right to carry out wholesale and retail trade on the basis of the organization’s charter, which defines the purpose, types and boundaries of its activities.
Eurotorg LLC is a legal entity, has separate property (it consists of fixed assets and working capital, as well as other valuables, the value of which is reflected in the organization’s balance sheet), an independent balance sheet, a current account in the Priorbank institution, a stamp and other seals and stamps with your name, letterhead, trademark and other details.
The total number of personnel of the company is more than 10 thousand workers.
The main goal of the company's activities is to generate profit to satisfy the social, cultural and economic interests of society participants and the interests of members of the company's workforce.
The development of the enterprise, taking into account the identified goals, has made it possible over the past 4 years to increase the network of stores by more than 2 times and repeatedly take the place of winner in international and professional competitions, such as “Brand of the Year” and “Choice of the Year”.
The activities of Eurotorg LLC are mainly concentrated in the retail sector. For a long time, the company developed two areas of activity (wholesale and retail trade) in parallel, but at the end of 2008 it was decided to concentrate on the development of retail trade. Before the reorganization, the wholesale trade sector accounted for 64% of the company's total revenue, since at that time sales were carried out through a network of warehouse stores located in the largest cities of Belarus, as well as through the work of an active sales department. The main buyers were small entrepreneurs who purchased goods for their enterprises.
During 2009-2011. the company continued to develop its wholesale business in Minsk on the basis of a small wholesale store such as Cash&Carry, but in April 2011 it was closed and the activities of the active sales department were discontinued. Today, wholesale sales are carried out through the company's distribution center, as well as through a hyperdiscounter.
"Euroopt" is the only retail chain in the republic that uses discounter-type racks, which allow you to place most of the goods on the sales floor, which allows you to save on warehouse space.
Today, the main activities of Eurotorg LLC, according to the company’s Charter, are:
― activities of agents selling a wide range of goods;
― retail trade in food products and drinks in specialized stores;
― retail trade in cosmetics and perfumery products;
― retail trade in non-specialized stores primarily in food products, including drinks;
- other retail trade in non-specialized stores;
- other retail trade in specialized stores;
― rental of your own real estate;
― wholesale trade in food products, including drinks;
― wholesale trade in non-food consumer goods;
― retail trade outside stores.
The main objectives of the Charter of Eurotorg LLC are as follows:
― creating conditions for the most complete satisfaction of customer demand within the average consumer market;
― providing a high level of trade services;
― ensuring decent efficiency of the trade-technological and trade-economic process in Eurotorg LLC;
― maximizing the amount of profit remaining at the disposal of the organization and ensuring its effective use.
― In general, the Charter formulates the basic rights and directions of activity of Eurotorg LLC, as well as the subject and goals of the activity, indicates the procedure for the formation of property, the formation and distribution of income
General characteristics of the enterprise Eurotorg LLC
History of creation
2013 - In 2013, the Euroopt network already includes 146 retail facilities: in Minsk, Grodno, Mogilev, Vitebsk, Brest, Zhlobin, Molodechno, Novogrudok, Bobruisk, Orsha, Gomel, Mozyr, Osipovichi, Baranovichi, Borisov, Lida, Polotsk , Novopolotsk, Bereza, Berezovka, Vileika, Pinsk, Baran, Zhodino, Gorki, Kirovsk, Glubokoe, Svetlogorsk, Soligorsk, Myadel, Zhitkovichi, Volkovysk, Nesvizh, Smorgon, Braslav, Krichev, Smolevichi, Maryina Gorka, Kobrin. There are 12 Euroopt stores in the hypermarket format in the republic: in Minsk, Bobruisk, Pinsk, Zhlobin, Brest, Grodno, Gomel, Vitebsk, Rechitsa, Lida.
2012 - In 2012, the Euroopt network already includes 12 retail facilities in the Russian Federation and 123 retail facilities in Belarus: in Minsk, Grodno, Mogilev, Vitebsk, Brest, Zhlobin, Molodechno, Nesvizh, Novogrudok, Bobruisk, Orsha, Gomel, Mozyr, Osipovichi, Baranovichi, Borisov, Lida, Polotsk, Novopolotsk, Bereza, Berezovka, Vileika, Pinsk, Baran, Zhodino, Gorki, Kirovsk, Glubokoe, Svetlogorsk, Slutsk, Soligorsk, Myadel, Zhitkovichi, Volkovysk, Nesvizh, Smorgon, Krichev. There are 12 Euroopt stores in the hypermarket format in the republic: in Minsk, Pinsk, Zhlobin, Brest, Grodno, Gomel, Vitebsk, Rechitsa, Lida, Bobruisk.
2011 - In 2011, the Euroopt chain of stores already included 68 retail facilities: in Minsk, Grodno, Mogilev, Vitebsk, Brest, Zhlobin, Molodechno, Novogrudok, Bobruisk, Orsha, Gomel, Mozyr, Osipovichi, Baranovichi, Borisov, Lida, Polotsk , Novopolotsk, Berezovka, Vileika, Pinsk, Baran, Zhodino, Gorki, Kirovsk and Glubokoe.
2010 - The Euroopt chain of stores includes 39 retail facilities: in Minsk, Grodno, Mogilev, Zhlobin, Molodechno, Novogrudok, Bobruisk, Orsha, Gomel, Mozyr, Osipovichi, Baranovichi, Borisov, Novopolotsk, Lida.
2009 - Opening of 15 more EUROOPT stores in the republic.
2008 - Opening of the first hypermarket “EUROOPT” in Minsk.
2008-1997 - Opening of 8 EUROOPT stores in the republic.
1997-1996 - Construction and opening of the EUROOPT shopping complex on the street. Kazintsa 52A.
1996-1993 - Wholesale trade in food products.
Eurotorg LLC carries out wholesale and retail trade in food products in accordance with the Charter and subject to licenses. Eurotorg LLC includes 7 stores with a total sales area of 6347.85 sq. m. Labor relations between personnel and the enterprise are regulated by the labor legislation of the Republic of Belarus, the Charter of the enterprise and the rules issued on its basis.
The philosophy of Eurotorg LLC is “More quality goods at reasonable prices,” so retail markups in stores are minimal, and most goods can be purchased at retail at wholesale prices if you buy several units of the same product.
Large wholesale buyers are attracted not only by prices and assortment, but also by the clear, well-functioning system of work of Eurotorg LLC. For maximum convenience of wholesale buyers, a network of branches has been created in several cities of Belarus (Brest, Gomel, Pinsk, Baranovichi, Mozyr, Mogilev, Vitebsk), where prices are also favorable and conditions are convenient. Only in the city of Minsk, retail stores are open at the following addresses: st. Golodeda, 7; st. Kalinovsky, 23; st. Rafieva; st. Alibegova 13a; Independence Ave. 48, as well as on the street. Kazintsa, 52a there are small wholesale and retail stores.
The team of Eurotorg LLC as of January 1, 2012 consists of 10,000 employees. The company enters into contracts with the employee. The contract provides for the rights, obligations and responsibilities of the enterprise and the employee, the terms of organization and payment of labor, the grounds for termination of the contract, and the procedure for resolving disputes.
The enterprise independently resolves issues relating to the form, amount of work, material incentives, while respecting the rights of citizens provided for by the legislative acts of the Republic of Belarus. Eurotorg LLC has a team of professionals whose enthusiasm and faith in the final result helped it develop quickly, allowing it to become one of the largest domestic companies.
The main purpose of the company's activities is to generate profit and satisfy the needs of individuals and legal entities for services (works).
The main goal of the marketing activities of Eurotorg LLC is aimed at transforming stores into exemplary centers of modern trade that meet all the characteristics of successful and dynamically developing enterprises. The main tasks to achieve this goal are: re-equipment and technical re-equipment of retail facilities; application of modern trading methods; increasing the range of goods sold.
The range of goods sold at Eurotorg LLC includes more than 50,000 items.
The most important direction is the introduction of new and advanced forms of trade services; 90% of the retail network operates using the self-service method with open display of samples. Modern forms of payment using plastic cards are being introduced.
75% of the marketable mass is purchased directly from the manufacturer. In order to sort missing goods, the share of which in the total volume of supplies is no more than 10%, agreements have been concluded with wholesale enterprises of republican significance. It is planned to expand the area of commercial activity of Eurotorg LLC in terms of searching for reliable partners. It is planned to pay more attention to suppliers in all regions of the Republic of Belarus. The formation of commodity resources is carried out through applications and orders to manufacturing enterprises based on consumer demand and existing sales over the past year.
Table 1 presents the main financial and economic indicators of the work of Eurotorg LLC in dynamics for the period 2010-2012.
Table 1 - Financial and economic performance indicators
Eurotorg LLC in 2010-2012.
| Index | Unit change | Deviations, million rubles | Growth rate, % | |||||
| 2011 from 2010 | 2012 from 2010 | 2011 to 2010 | 2012 to 2010 | |||||
| Sales income with taxes | million rubles | 251830,9 | 266940,7 | 280287,7 | 15109,8 | 28456,8 | 106,0 | 111,3 |
| VAT | million rubles | 27523,9 | 29175,4 | 30634,1 | 1651,5 | 3110,2 | 106,0 | 111,3 |
| Sales tax | million rubles | 5769,4 | 6115,6 | 6421,3 | 346,1 | 651,9 | 106,0 | 111,3 |
| Sales income excluding VAT | million rubles | 218537,3 | 231649,8 | 243232,3 | 13112,5 | 106,0 | 111,3 | |
| Total costs | million rubles | 192313,0 | 203851,1 | 214044,4 | 11538,1 | 21731,4 | 106,0 | 111,3 |
| Taxes included in revenue from product sales | million rubles | 11091,3 | 11735,7 | 12304,8 | 644,4 | 1213,5 | 105,8 | 110,9 |
| Balance sheet profit | million rubles | 1040,9 | 1197,3 | 1729,1 | 156,4 | 688,2 | 115,0 | 166,1 |
| Taxes on profits | million rubles | 591,4 | 469,8 | 437,5 | -121,6 | 153,9 | 79,4 | 73,9 |
| Net profit | million rubles | 382,1 | 892,1 | 1121,0 | 510,0 | 738,9 | 233,5 | 293,4 |
| Average number of employees | people | 307,0 | 110,2 | 121,2 | ||||
| Average monthly salary per 1 employee | thousand roubles | 863,542 | 1015,68 | 1197,737 | 152,138 | 334,195 | 117,6 | 111,3 |
| Profitability of products sold | % | 0,3 | 1,6 | 4,2 | - | - | - | - |
| Profit per 1 employee | thousand roubles | 344, 889 | 360,083 | 472, 812 | 15,194 | 127,923 | 104,4 | 111,3 |
Note – Source: own development based on the profit and loss report of Eurotorg LLC.
Net profit from sales in 2012 compared to the base year 2010 increased by 11.3%, and the profit per employee increased by the same amount. Thus, we can conclude about the proportional growth of the company and the increase in the number of its employees, which increased by 639 people (21.2%) compared to 2010.
Return on sales increased 14 times and amounted to 4.2% compared to 0.3% in 2012, indicating an improvement in the company's financial position.
Thus, from the above we can conclude that according to all indicators, Eurotorg LLC is demonstrating stable growth. The crisis period did not affect financial and economic indicators. This is explained by the general positioning of the Euroopt retail chain as a network of low-price stores, which coincided with the general trend in society - the desire to save money. Low prices allowed us to maintain sales levels, which was reflected in all indicators.
Marketing Service
As mentioned earlier, marketing functions at Eurotorg LLC are performed by the marketing and analytical work sector.
There are only 5 people in this unit. The head of the department and his subordinates: 2 marketing specialists, an information entry specialist, a merchandiser. Figure 1 schematically shows the structure of the analytics marketing sector.
Table 2 – Marketing functions and the security of their implementation
| Marketing functions | Position of the employee performing the function | Job responsibilities in connection with the performance of the function |
| Analytical | Marketing Specialist | · studying the general state and conditions of the market and trends in its development · conducting sociological research to study needs · studying the activities of competitors · organizing the receipt of information regarding buyers (end users) of products |
| Commodity expert | · analysis of products and their competitive analogues · collection of primary information about failures, malfunctions and shortcomings of goods · consideration of complaints and claims regarding the quality of service · study of information to adjust assortment lists | |
| Sales | Marketing Specialist | · selection and implementation of individual methods of promoting goods · submits proposals to the head of the marketing department on advertising campaigns, their timing, volume, means of implementation · studying the activities of competitors in the field of promoting goods and their sales · plans and implements advertising campaigns independently or with the participation of advertising agencies · analyzes the state of the sales network, develops recommendations for its development and improvement |
| Commodity expert | · Study of supply and demand in the market · Determination of the profile of goods sold according to the time of year | |
| Identifying strengths and weaknesses of marketing activities | Department head | · Collection of internal and external information for auditing |
| Improving the qualifications of employees in the field of marketing | Department head | · Creation of conditions for the possibility of advanced training |
There is no production function of marketing, since the enterprise is not engaged in the production of products.
The head of the marketing department determines the general directions of the department’s activities within the framework of the general goals and objectives established by the “Regulations on the enterprise’s marketing department,” as well as on the basis of instructions from the director of the enterprise and deputy. Director of Commercial Affairs; bears full responsibility for the results of the department's activities. The head of the department also manages and organizes employees to perform marketing functions and monitors their activities.
Table 3 – Characteristics of the composition of the enterprise’s employees
Having examined and analyzed this table, we can conclude that the team is quite young and most of the employees have higher education, and this is promising for the enterprise.
Figure 1 – Main logo of “Euroopt”
It should be noted that the logo consists of the following structural elements:
1) graphic symbol “e”;
2) shield of the graphic symbol “e”;
3) the inscription “European”;
4) logo background;
5) logo background outline;
6) logo protection zone.
The main area of use of the main logo is “external communication”, outside of stores. This logo is also used inside stores to highlight the Euroopt environment, especially in relation to other supplier brands.
Also, in addition to the full version of the logo, two more options can be used: a structural solution of the logo with an inscription and a structural solution with an emphasis on the “e” symbol. Figure 7 shows the structural solution of the logo with the inscription.
Figure 2 – Structural solution of the logo with the inscription
A slogan or www address can be used as an inscription on the logo. The use of any of the logo options with an inscription is permissible only if there is a structural element in the background of the logo.
Figure 8 shows the structural solution of the logo with an emphasis on the “e” symbol.
Figure 3 – Structural design of the logo with an emphasis on the “e” symbol
It is worth noting that this version of the logo is used to design your own advertising medium with a limited visibility area: if the object is very small or located at a great distance (on roofs, for example), as well as if the object is in motion (in transport, personnel clothing), in compositions with other own information logos “Red Price”, “Fresh”, etc.
The corporate fonts of Eurotorg LLC are Myriad Pro (for “external” communication information) and Arial (for documents, www-information, for business and technical information within the company).
As a conclusion, it can be noted that the use of corporate style increases the company’s recognition and helps to raise the team spirit of employees and the cohesion of the staff of Eurotorg LLC. Based on the results of the company's marketing research and personal interviews with employees, the company's corporate identity evokes positive emotions in them.
In general, the company's communication policy is aimed at using all opportunities in the field of marketing and advertising to improve the efficiency of the company. The department employs specialists who know what the consumer expects from the Euroopt retail chain and competently interpret his wishes to the benefit of the company.
Table 2 - Enlarged groups of goods sold in stores of the Euroopt retail chain
| I. Household appliances |
| (4:89) w.01 built-in appliances, (4:91) w.02 climate control equipment, (4:88) w.03 large household appliances, (4:90) w.04 small household appliances, (4:92 ) w.05 related products and accessories, (4:94) w.06 TV-AV equipment, (4:87) w.07 digital equipment, (4:93) w.08 power tools |
| II. Food products |
| (4:63) f.01 alcohol, (4:65) f.02 groceries, (4:64) f.03 soft drinks, juices, (4:67) f.04 baby food, (4:66) f .05 confectionery, (4:74) f.06 canned products, pickles, pickles, salads, (4:68) f.07 dairy products, (4:73) f.08 vegetables, mushrooms, fruits, berries, ( 4:75) f.09 edible fats, dressings, vinegar, (4:69) f.10 products of animal origin (finished), (4:70) f.11 products, semi-finished products of animal origin, pieces and chopped, (4:72 ) f.12 crop products, semi-finished products (including dough) and other products (frozen), (4:71) f.13 fish, fishery products, seafood, (4:78) f.14 tobacco, ( 4:76) f.15 bakery and baked goods, incl. from baked goods |
| III. Manufactured goods |
| (4:45) g.01 auto products, (4:38) g.03 household chemicals, (4:47) g.04 haberdashery, shoes and related products, (4:50) g.05 stationery, cd, dvd discs and watches, (4:43) g.06 food and accessories for pets, (4:39) g.07 cosmetics and perfumes, (4:48) g.08 clothing and sewing goods for the home, (4:46) g.09 printed materials, (4:53) g.10 dishes, cutlery and accessories, (4:55) g.11 interior items, furniture, (4:44) g.12 garden supplies, flowers, seeds, goods for the garden, (4:49) g.13 sporting goods and goods for outdoor activities, hobbies, (4:56) g.14 repair supplies and tools, (4:41) g.15 personal protective equipment and medical supplies, (4:51) g.16 souvenirs and holiday goods, (4:40) g.17 hygiene products, (4:52) g.18 goods for children and mothers, (4:54) g.19 household goods, (4:95) g.20 incandescent light bulbs, (4:96) g.21 electrical installation products |
| IV. Own production |
| (4:81) s.1 cooking, (4:80) s.2 meat shop, (4:82) s.3 bakery, confectionery shop, (4:98) s.4 ingredients |
| VI. Packaging, containers, promotional materials and means |
| (4:85) v.1 advertising materials and means, (4:84) v.2 containers, (4:83) v.3 packaging |
Source - Own development based on data from the corporate system “Market”.
It is worth noting that the assortment of the Euroopt retail chain is dynamic: from 15,000 to 50,000 SKU. In particular, in June 2012, the “Household Appliances” group was represented by 2,902 items of goods, food and industrial products totaled 13,136 and 375 items, respectively; the “Own Production” group contained 475 SKUs and finally, packaging, containers and advertising materials accounted for 379 product items. In total, according to data for June 2012, 17,267 items of goods were sold through the Euroopt trading network.
Let's look at how the range of goods sold has changed over the past year using the example of a hyperdiscounter, since the format of this store allows you to place the largest number of SKUs available in the retail chain. The top graph in Figure 1 illustrates the change in the number of items in balances, that is, the change in the product range that interests us. As we can see, the number of product items sold gradually increased from 8808 to 11667 items. A noticeable decrease was observed only at the end of August and beginning of September 2011, however, since the graph displays the balance of products in the warehouse, this is a positive phenomenon - at this time there was an increase in sales due to the beginning of the school year and the procurement season. This is confirmed by the increase in the amplitude of the sales amount in the lower chart, relating to the period under review. In general, the abrupt nature of the graph is explained by an increase in sales and, as a consequence, a decrease in balances on the sales floor and in the warehouse on weekends. The greatest amplitude fluctuation is observed during the New Year holidays: until the end of the year, the amount of sales gradually increases, and after the holidays it drops sharply.
Figure 4 - Number of items in sales and balances in the Euroopt hyperdiscounter for the annual period
The Eurotorg company (the founder of the Euroopt chain of stores) over the past year increased its turnover to four billion Belarusian rubles, or by 5.5% compared to 2016, the company’s general director Andrei Zubkov told reporters.
According to the head of the company, in foreign currency trade turnover in 2017 increased to $2.12 billion and increased by 8.6% compared to 2016.
The trading network of the largest retailer in Belarus, consisting of the Euroopt and Brusnichka brands, already has more than 500 stores throughout the country.
Monopoly or lifesaver
According to Zubkov, now in rural retail outlets prices are higher than in the capital by an average of 30%. The arrival of Eurotorg in rural areas, according to the general director of the retail chain, will help reduce the price of products.
The retailer also promises to create new jobs in the regions and increase tax revenues. The company plans to concentrate in the Year of the Small Motherland on developing its network in agricultural towns.
Previously, the Ministry of Antimonopoly Regulation and Trade stated that the Eurotorg company violates the legislation of Belarus. In a number of regions of the country, the company's market share exceeded 20%.
This directly contradicts the country's antitrust laws. However, MART does not apply sanctions to the company: they admit that Belkoopsoyuz also violates this requirement in some regions of the country. At the same time, the market regulator believes that this is due to the fact that commercial structures are not very willing to go to the regions. But when private owners come to rural areas, then Belkoopsoyuz works better, the department is confident.
Eurobonds and debts
Despite the growing trade turnover, Eurotorg entered the Eurobond market last year - the company needed investment.
The company issued its debut corporate Eurobond in October in the amount of $350 million. Moreover, the yield on them was 8.75% per annum. The organizers of the Eurobond issue were J.P. Morgan and Sberbank and Renaissance Capital. The US company Latham & Watkins became the legal consultant for the issue.
International agencies S&P and Fitch assigned the issue a sovereign rating of "B-", which means the issued securities are highly speculative.
Last year the company admitted having debts to banks amounting to $624 million. Eurotorg stated that it expects to reach a debt amount of $580 million at the beginning of 2018.
Representatives of Eurotorg claim that, with a turnover of two billion dollars a year, such an amount of debt is quite workable for the company.
“The refinancing of loans to both Sberbank of Russia and the Russian Alfa-Bank was successfully completed. The banks provided our company with comfortable loan repayment schedules until 2022-23,” Zubkov concluded.
It is too early to say that the sword of Damocles is hanging over the company. Being one of the largest market participants (together with all its subsidiaries, Eurotorg occupies 19% of Belarusian retail), the company is too big to “fall”.
At the same time, we recall that the Rodnaya Storona retail chain, which went bankrupt in 2016, had much smaller debts. In March 2016, when the company's bankruptcy began, information was announced that the amount of accounts payable of NTS (the company operating the retailer) amounted to more than 145 billion non-denominated rubles (about $7.5 million), while the amount of debt on taxes and The company's fees amounted to 16.29 billion non-denominated rubles, wage arrears - 192.8 million non-denominated rubles, debt to the Social Security Fund - 150 million non-denominated rubles.
We help improve the quality of life of the residents of Belarus by offering the best prices and a carefully thought-out range of products.
Principles:
Client is priority #1
The priority of the Euroopt chain of stores is to work with the buyer, provide a wide range that meets the needs of the residents of Belarus, set affordable prices and develop loyalty programs.
Honesty and justice
We are honest with customers and partners. We keep our promises and take responsibility for our decisions.
Work at 110%
We use advanced technologies and knowledge in our work; our employees are confident professionals.
Quality Standards
All stores in the chain operate according to the same standard of service: regardless of the size or geographical location of the retail facility. From the very moment of its foundation, Euroopt has been a network for the buyer, offering the most favorable prices for its assortment, which has been repeatedly confirmed by republican and international research companies.
A company was founded that was engaged in small-scale wholesale trade in food products and became the beginning of the history of Euroopt.
The first store under the Euroopt brand was opened in Minsk on the street. Kazintsa.
Euroopt is represented by 7 stores.
The first Euroopt hypermarket was opened in Minsk on the street. Installers. Financial reporting of Eurotorg LLC began to be maintained in accordance with IFRS standards. At the end of the year, there were 10 Euroopt stores operating in Belarus.
The total number of Euroopt stores was 454. Launch of 2 new trade formats: cash&carry - wholesale sections based in hypermarkets, as well as Euroopt Prime - a supermarket with a premium assortment. A new project has been created: the online hypermarket “HyperMall”. Eurotorg LLC receives awards from the Brand of the Year and Choice of the Year competitions.
At the end of the year, the company's 500th store opened in Belarus - in the city. Oktyabrsky, Gomel region. 138 stores began operating under the new brand – “Brusnichka”. The company continues to actively penetrate rural areas: by the end of the year, 24 stores were operating in rural areas. Online hypermarkets “E-delivery” and “HyperMall” began serving customers throughout Belarus. Eurotorg LLC receives awards from the “Brand of the Year”, “Choice of the Year” and “People’s Brand” competitions. The company was the first among representatives of Belarusian business to place Eurobonds on international capital markets.
The number of stores over the year has more than halved and reached 764. Of these, more than 150 are located in villages and towns. The first online discounter in Belarus, “E-discount” (e-discount.by), has launched. The HyperMall postal service began operating with home delivery of parcels to all cities of the country.
Eurotorg LLC receives awards from the Brand of the Year and Choice of the Year competitions, and for the second year in a row becomes a six-time winner of the People's Brand competition, winning the Grand Prix of Services. Buyers recognize Euroopt stores as the best in all formats, and call E-delivery the best online hypermarket.
The company signs a loan agreement with the European Bank for Reconstruction and Development.
Charity
Eurotorg LLC pays special attention to social responsibility. The most popular areas of social assistance are targeted support for public organizations and associations, sponsorship of professional and children's and youth sports organizations.
For questions about sponsorship and charity, write to: Treschetkina Evgenia [email protected]
Quality of service
All stores of the Euroopt chain operate according to a single standard of service: regardless of the size or geographical location of the retail facility. We are constantly striving to improve our trading service and would be glad if you help us with this.
Please fill out the customer questionnaire and share your impressions of our stores!
The largest Belarusian retailer Eurotorg announced the preliminary value of its assets.
Naviny. by We studied which companies are part of the holding and who owns it.
Eurotorg Holding Plc has announced the price range for its initial public offering (IPO) on the London Stock Exchange. According to the retailer, it amounts to $6.95-$7.95 per global depositary receipt, which will be issued as part of the IPO and represent ownership of the company's common shares.
The placement volume will be 29.1%-32.3% of the company's share capital. Eurotorg expects to earn about $250 million, which will be used to reduce foreign currency debt. The company's preliminary valuation was $689-789 million.
The value of the company after investments, accordingly, will be about one billion dollars, said Naviny. by a source familiar with the IPO process.
The final price of shares will be announced approximately on November 7. At this time, trading of the company's securities on the London Stock Exchange should begin.
Eurotorg is the largest Belarusian retailer, occupying about 19% of the market. The main asset of the group of companies is a chain of stores under the brands “Euroopt” and “Brusnichka” (food products), as well as “Magic” (perfumes, cosmetics, household chemicals, hygiene items).
At the end of September this year, there were 744 retail outlets in the Eurotorg network throughout the country.
The group of companies also develops online stores (e-dostavka.by and gipermall.by) and trade in household appliances and electronics (Techno Plus stores).
The Eurotorg holding also includes more than a dozen companies that work in retail.
The Yuline, Dzerzhinsky Meat Processing Plant, and Varminexpo enterprises produce meat products. The EurooptAgro poultry farm operates in the Molodechno district. In the Minsk region, the Barentsevo enterprise produces fish products. The ElitePartner company produces bakery and confectionery products under the Caring Baker brand.
Transport services in the holding are provided by Eurooptavto, construction by Retorsia-Invest, Cooperation, CityBalt and other companies.
The service company "PackHouse" provides packaging services for cereals, pasta, frozen fish, vegetables and fruits.
The holding has its own bank - StatusBank. True, it is planned to sell it for 45.2 million rubles to the main shareholders, who will use part of the proceeds from the IPO for the purchase.
The ultimate owners of the holding are Vladimir Vasilko(49.75%) and Sergey Litvin(48.75%), who are among the ten most successful and influential businessmen in Belarus. The remaining share is distributed among the General Director of Eurotorg Andrey Zubkov(0.5%) and Chairman of the Board of Directors Alexander Litvin(1%).
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