Vilnius, Lithuania, 2015-03-06 12:02 CET (GLOBE NEWSWIRE) -- Belvedere SA, which has indirect control in Vilniaus degtinė, AB, this year approved a new strategic plan “BIG 2018” (“Back in the game”) aimed at restoring the profitability of the Group and putting it back on track of growth during the period of 2015–2018.
Since the beginning of 2015 Vilniaus degtinė, AB became a sales representative of Belvedere Group and all of its trademarks in the Commonwealth of Independent States (CIS) and the Baltic countries.
Strategic plan of Belvedere Group raises the objectives for Vilniaus degtinė, AB to increase income by 50 percent, reach 15 percent EBITDA profitability, and become a leader on vodka market in Lithuania by the Year 2018. It is planned that 3.5 million EUR will be invested into the automation and modernization of Obeliai Spirit Distillery, Vilniaus degtinė, AB branch, as well as the installation of biomass boiler.
In 2015-2018 Belvedere SA Group is going to invest 6 million EUR into the global development and marketing of Vilniaus degtinė, AB trademark Shotka Vodka.
Dovilė Tamoševičienė
Acting CEO
Phone: +370 5 233 0819