AS AMBER LATVIJAS BALZAMS Interim report (Q1 and Q3) Amber Latvijas balzams announces unaudited 3-month operating results for the 2024
The company's unaudited net turnover in the first three months of the year 2024 reached 18.4 million euros, which is 14.7% less than in the corresponding period in 2023. A decrease in turnover is related to global trends in the reduction of working capital of wholesalers and importers in the context of rising inflation, as well as strategic decisions made by Stoli Group regarding the rebranding of Stoli products, affecting order volume.
The gross profit in the reporting period was 2.9 million euros, which is an increase of 1.3 million euros (+88.4%) compared to the corresponding period in 2023. The gross profit indicator was positively impacted by the reduction in the cost of the most important raw materials and materials used in the production process, as well as by the reduction in production-related expenses that fell within the purview of the cost optimization programs that were implemented.
In the reporting period, the Company's unaudited net loss is 136 thousand euros, which is an improvement by 1.073 million euros compared to the corresponding period in 2023.
Although the first quarter ended with operating losses in general, the results are better than a year before, in line with the planed and it is expected that sales volumes will significantly improve in the following quarters, which, combined with stability in the purchase prices of raw materials and continuous work on optimizing production costs, will allow a return to positive financial performance indicators.
AS Amber Latvijas balzams is one of the largest local taxpayers. During the reporting period, the Company paid taxes of EUR 24.8 million to the state budget, including excise tax amounting to EUR 19.5 million.
More information can be found in Company's website sectionLatest Financial Indicators.
JSC Amber Latvijas balzams
Chairman of the Board
Intars Geidāns
Attachments:
ALB 1Q 2024 ENG.pdf
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Amber Latvijas Balzams AS published this content on 31 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2024 09:10:04 UTC.
