Emitents | Amber Latvijas balzams, AS (097900BGLZ0000056644) |
Veids | Finanšu pārskati |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2011-02-28 16:04:29 |
Versijas komentārs | |
Teksts |
Management report
Field of activity
The enterprise was founded in 1900, but the actual name it has
got in 1970. AS “Latvijas balzams” is a leading producer of
alcoholic beverages in the Baltic States producing more than
130different kinds of alcoholic drinks. AS “Latvijas
balzams” major shareholder is “SPI Regional Business Unit BV”,
having 89.53% of the company’s equity capital.
Results of the business in year 2010
AS “Latvijas balzams” is the biggest producer of alcoholic
beverages in the Baltic States as well as one of the largest
taxpayers in Latvia. In 2010 AS “Latvijas balzams” paid 34.7
millions lats to the state budget, including excise tax amounting
to 25.8 million lats.
The unaudited turnover of the company in 2010 was
74.9 million lats, which is 9% less than
in 2009. The decrease in turnover on the local market was
14%, export market 18% while export
related to S.P.I. Group orders increased by 2% in comparison
with previous year. In 2010 the sales to the EU countries decreased
by 17% in comparison with 2009. Sales to Lithuania and Estonia
decreased by 24% and 5% accordingly. Decrease of sales is
related to the increase of excise tax, decline in consumption on
the domestic market while economy is growing only because of export
and consumer spending is low, increase of illegal alcohol trade and
uncertain economical situation in the main export markets.
In 2010 the top focus sales markets were Baltic States,
Russia, Poland and Scandinavia; meanwhile new export markets such
as Bulgaria, China, Australia and Kazakhstan were being
acquired.
The Company has paid great attention to production cost
control and improvement of productivity, as a result reaching
3 640 thousands lats unaudited profit, that is 2% more than in
2009, despite the 9% decrease in turnover.
Future business prospects
The economic situation in country has started to stabilize,
however, purchasing power of consumers is still very low, therefore
company aims to hold existing market share as well as to continue
export business development by improving existing products
portfolio.In 2011 AS “Latvijas balzams”
priorities will be control of production and logistics
costs, optimization and increase of production effectiveness,
enhancement of company’s competitiveness. AS “Latvijas balzams”
will continue to support solutions that are environmentally
friendly, persistently improving activities that would reduce
company’s business negative influence on the nature by setting high
requirements for ourselves and collaboration partners.
AS Latvijas balzams
Chairman of the
Board
Karlis Andersons
Riga, 28 February, 2011
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