The enterprise was founded in 1900, but the actual name it has got since 1970. Today, LB is a leading producer of alcoholic beverages. Totally, AS “Latvijas balzams” produces more than 130different kinds of alcoholic beverages. AS “Latvijas balzams” major shareholder is “S.P.I. Distilleries. B.V.” which owns 6,595,745 shares or 88.05% of the company equity capital.

 

AS “Latvijas balzams” is the biggest producer of alcoholic beverages in Latvia, as well as one of the largest taxpayers in Latvia. During first quarter of 2008 LB paid 11.4 millions lats to the state budget, including excise tax amounting to 7.7 millions lats. 

 

The unaudited turnover of the company in the first quarter of year 2008 was 22.3 million lats, which is by 1.06% more than during first quarter in 2007. The increase in turnover at local market is 1.4% as compared to the same period in 2007. In comparison with 2007, the export market sales increased for 0.6%, or else for 49 thousands lats. During the first quarter in 2008, in comparison with the same period in 2007, sales to non European Union countries, increased for 6.4%, but to Lithuania increased by 20%. The top sales focus markets are Baltic States and Scandinavia, meanwhile new export markets are being acquired. 

 

 

For the second quarter of year 2008 AS “Latvijas balzams” priorities are control of production expenses and limitation of costs increase as well as continue of export market development. Special emphasize is set to Scandinavian countries.