Milestones
Business launch: Vladimir Vasilko and Sergei Litvin set up a company focused on small-scale wholesale of food products.
Eurotorg is one of the largest food wholesalers in Belarus. The Company enters the retail segment and launches its first store under the Euroopt banner.
The founders of the Company decide to focus on food retail, which becomes the key business line. Eurotorg’s financial reports under IFRS are audited by the Big Four accounting firms.
The Company becomes the first retailer in Belarus operating stores across all of the country’s regions.
Eurotorg raises long-term financing from the EBRD, a landmark international investor. By the year-end, the Euroopt chain consists of more than 100 stores.
Eurotorg launched E-dostavka.by, the first online grocery in the country.
In 2014–2015, the retail chain doubles in size: the number of stores exceeds 430. Euroopt is named the Best Retailer of the Year at the prestigious Europa Property Awards.
Eurotorg actively pursues international partnerships and signs a joint purchase agreement with Lenta, a leading Russian hypermarket chain.
New initiative in e-commerce: dry food and non-food online platform Gipermall.by.
The Company receives corporate credit ratings from Fitch and S&P on par with that of the sovereign. Eurotorg successfully debuts on international capital markets, placing a USD 350 million Eurobond on the Irish Stock Exchange.
Development of Euroopt grocery stores in underpenetrated rural areas.
Eurotorg has become the first non-Russian company to be assigned a credit rating by Russian rating agency (byA+). The Company has successfully placed two issues of bonds totalled RUB 10 bn and has signed a RUB 3.5 bn syndicated loan facility agreement with the key Russian banks.
The first tranche under a multi-currency bond program on Moscow Exchange in the amount of RUB 5 bn was placed, and the total volume of Eurotorg's bonds circulating in the Russian market increased to RUB 15 bn.
In October 2020, Eurotorg re-entered the global capital market with a five-year USD 300 mn Eurobond issue. The funds raised were used to refinance its outstanding 2017 bonds maturing in 2021-2022.
In March, Eurotorg successfully placed five-year bonds in the amount of RUB 3.5 bn on Moscow Exchange, forming a liquid secondary curve (there are now 3-year, 4-year and 5-year bonds in circulation), which will be the benchmark for the Company's new bond issues.
In June, Eurotorg's second Eurobond issue was named the most successful in the «Best Primary Placement Deal in Belarus» category of Cbonds Awards CIS 2021.
During 2021 the Company continued to expand its discounter formats: soft discounters under the Hit! banner and hard discounters under the Groshyk banner.
In 2022, the Company continued to pursue its moderate programme of new openings with focus on higher operational efficiency, to develop its loyalty programme and to expand functionality in its “E-plus” mobile app launched in December 2021.
