2015

02.12.2015 all news

"Latvijas Balzams" announced 9 month results

The unaudited turnover of the Company in the first nine months of 2015 was 55.27 million Euros, which is 7.9% more than for the first nine months of 2014.

The growth of turnover influenced by increase in sales in export markets, for example, orders of SPI Group has increased by 14.8% comparing to the first nine months of 2014. Significant sales volume increase excluding SPI Group orders was achieved in Lithuania (+38%), Estonia (+16%) and also in China and Romania. Continuing purposeful growth in strategically significant export markets, the Company has successfully expanded assortment and partnerships.

The unaudited profit for the reporting period reached 5.99 million Euros that represents 20.4% growth versus the first nine months of 2014.

The result was achieved through focused development of the beverage portfolio, volume growth in strategically significant export markets and growth of production process efficiency as well as changes in corporate income tax related to the reorganization and taken over accumulated tax losses.

During the first nine months of 2015 JSC Latvijas balzams paid 40 million Euros into the state budget, including excise tax amounting to 29.6 million Euros.

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