The Company was established in 1900 and operates under the current name since 1970. Due to SPI Group internal reorganization the major shareholder of JSC Latvijas balzams from October 2014 is Amber Beverage Group LLC which owns 89.99% of the Company’s equity capital (previous major shareholder – S.P.I. Regional Business Unit B.V.).
 

JSC Latvijas balzams is the largest producer of alcoholic beverages in the Baltic States with a range of more than 100 different products.  Our production is exported to more than 160 export markets as mediated by Stoli Group, and to 42 markets via the Company`s direct export route.

The Company`s Activity

The unaudited turnover of the Company in 2015 was 73.41 million Euros, which is 0.5% more than in 2014. The growth of turnover was mainly driven by increase in orders from Stoli Group by 4.85%, however there is significant decrease in sales volumes to Russia and Ukraine.
The unaudited profit for the reporting period reached 7.06 million Euros that represents 11% decrease versus 2014 that based on decrease of sales in most profitable markets, as well as developing of platform for future growth in other export markets by investing in advertising and sales promo activities for JSC Latvijas balzams branded products.
During 2015 JSC Latvijas balzams paid 53 million Euros into the state budget, including excise tax amounting to 40.1 million Euros.

Outlook of Future Activities

Latvijas Balsam’s outlook for the year ahead is one of caution as the impact of the situation in Russia, with the price of oil coupled with the slowed down in China and the uncertainty around the EU is expected to dampen growth in 2016.
The Company will continue its purposeful focus on the achievement of objectives in both domestic and export markets. Our priorities will continue to be to focus on our domestic business, on building our international brands, and on implementation of effective production strategy to increase the Company`s competitiveness.
Latvijas Balsams will by active participation in the Industry Association and by cooperating with non-governmental organizations, represent the interests of industry in any dialogue with legislators and law enforcement institutions and promote a responsible policy on development in the alcohol market and to focus on the public education on these issues. For example Latvijas Balsams will continue to combat the production and illegal distribution of non-commercial alcoholic beverages.

AS “Latvijas balzams”
Chairman of the Board      Seymour Paul Ferreira

Riga, February 29, 2016
 
         Jekaterina Stuģe
         AS “Latvijas balzams” Board member
         Phone +371 67081213
         e-mail: office@lb.lv