The turnover of AS Latvijas balzams in the first 9 months was LVL 46.7m. In comparison with the previous year it has decreased by 11%. However, as a result of thorough cost control and raise of productivity, profit of AS Latvijas balzams has remained the same as last year – LVL 2.15m. Overall it’s planned to end the year with a profit close to the profit of year 2010.

The lack of local market growth is planned to be compensated with the increase of export. Our ambition is to acquire 3 – 5 new markets per year. We try to diversify export working simultaneously in several markets, thus minimizing risk of a downturn in particular region.

This year AS Latvijas balzams has entered a number of such new markets as Bulgaria, Kazakhstan and the most exotic one – Namibia.

In general this year we plan to increase export in comparison with the previous. Due to the successful cooperation with our business partners and investment in marketing, the most significant augmentation is planned in Russia and Ukraine.

In 2011 approximately LVL 340k have been invested in company’s development. In 2012 it is planned to multiply the investments in new technologies and equipment by 3 times in order to promote productivity and to maintain a consistently superior quality.    

There have been no staff cuts this year. During 2009-2010 we have significantly optimized processes, thus we were able to avoid such painful actions. Optimization of processes not only helped to keep jobs, but also to have good financial indicators despite the drop in sales.

Just now we have launched new sparkling drink – Riga sparkling non-alcoholic. This is our present during this holiday season to all the responsible costumers who look for non-alcoholic alternative to sparkling wine. 

Further information:

Inta Belova

phone: +371 67011715