JSC “Latvijas balzams” is the leading producer of alcohol beverages in the Baltics and one of the largest tax payers in Latvia. During the first nine month of 2012 JSC “ Latvijas balzams” paid 26.3 millions lats to the state budget, including excise tax amounting to 18.3 millions lats.
The company’s total unaudited turnover in the 9 month grew by 8%, compared to the same period of 2011, and reached 50.3 million lats .
Turnover on domestic market increased by 7.7%, in export markets decreased by 3.1%. Export after the “S.P.I. Group” order in 9 month period had grown by 10.5% comparing to the same period of 2011.
Sales to EU countries decreased by 12.7% due to the structural changes in private label clients orders. At the same time export to Russia increased by 39%. Latvia duty free and travel business has grown by 30% and we faced significant increase in export to Germany.
“Our target is to strengthen position in our core export markets – Russia, Ukraine, Baltic countries and Poland where we see potential to grow and raise turnover. Apart of that we are focusing on development of new and competitive products. This year has been very productive – “Latvijas balsams” have already introduced 12 new products and we are looking forward to come up with several others by the end of the year. Planned investments next year could reach up to one million lats”, says Chairman of the company’s Board Guntis Aboltins – Abolins explaining the objectives of business development.
Full nine month periodical report will be published on 30th November, 2012.
About JSC “Latvijas Balzams”
JSC “Latvijas balzams” is the leading producer of alcohol beverages in the Baltics with a history steeped in tradition since 1900.
JSC “Latvijas balzams” provides job for more than 600 employees and it is one of the biggest taxpayers in Latvia. JSC “Latvijas balsams” with more than 100 products is represented in almost all segments of strong and light alcohol beverages, in a number of them being stable market leader in Latvia. Among the company’s products are such worldwide known brands as “Stolichnaya”, “Moskovskaya”, “Riga Black Balsam” and “Rigas Sparkling Wine”.
JSC “Latvijas balzams” is one of the most significant exporters in Latvia – its products are available in more than 160 countries through SPI Group and in 30 countries through direct export. The company’s quality management system is certified in accordance with ISO standards.
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