The enterprise was founded in 1900, but the actual name it has got in 1970. JSC “Latvijas balzams” is the leading producer of alcoholic beverages in the Baltic States that produces more than 100 different kinds of alcoholic drinks. Our products can be found in more than 30 countries as the direct export of „Latvijas balzams” and in more then 160 countries via the export of the SPI group. Themajor shareholder of JSC “ Latvijas balzams” is SPI Regional Business Unit BV which owns 89.53% of the company’s equity capital.

The activity of enterprise in 9 months of 2012

JSC “Latvijas balzams” is the leading producer of alcoholic beverages in Latvia, as well as one of the largest taxpayers in Latvia. During the first nine months of 2012 JSC “Latvijas balzams” paid 26.3 millions lats to the state budget, including excise tax amounting to 18.3 millions lats.

 

The unaudited turnover of the company in 9 months of 2012 reached 50.3 million lats, which is by 8% more than income for the same period in 2011. The turnover  in the domestic market increased by 7.7%, in the export market dropped by 3.1%.  Export orders of S.P.I. Group have increased by 10.5%. During 9 months of 2012 sales to EU countries have decreased by 12.7%, due to the structural changes in private label clients orders. At the same time sales to Russia increased by 39% and to Latvia`s tax free zone by 30%. Sales to Germany also have increased significantly. Overall increase in sales was determined by targeted market relations with partners in the main markets. During 9 months of 2012 the most important export markets were the Baltic States, Russia, Germany and Scandinavia. Meanwhile, new export markets were actively acquired, for example, Croatia and Georgia.

 

The unaudited profit for the reporting period was 2.5 million lats, which is 19% growth versus the same period of 2011. The result was determined by focused development of beverage portfolio.

 

JSC “Latvijas balzams” has received special award of the Ministry of Welfare of Latvia for being “Senior - friendly company”. This acknowledges ”Latvijas balzams” expertise and quality of its social programs for supporting employees.

 

 

The company has improved its product portfolio. Since the beginning of the year “Latvijas balzams” has successfully introduced 14 new products for local and export markets. Further the Company will continue to focus on development of competitive products, retain existing market share,  and grow in export markets.

JSC “Latvijas balzams” 2012 priorities will be further control of production and logistics costs, optimization and improvement of production efficiency, increase of company's competitiveness, analysis and planning of potential export development opportunities.

JSC “Latvijas balzams” will continue to support nature friendly solutions, persistently improving activities that decrease company's negative impact on the environment, establishing high requirements for itself and company's partners and following the principles of sustainable business.

 

JSC Latvijas balzams

Chairman of the Board                                                                                                            Guntis Āboltiņš - Āboliņš

 

Riga, November 30th, 2012