AS AMBER LATVIJAS BALZAMS
ANNUAL REPORT 2024 
prepared in accordance with
IFRS Accounting Standards as adopted by the EU 
This version of financial statements is a translation from the original, which was prepared in Latvian.
All possible care has been taken to ensure that the translation is an accurate representation of the
original. However, in all matters of interpretation of information, the original language version of
financial statements takes precedence over this translation.
AS Amber Latvijas Balzams 
Annual Report 2024 
2 
CONTENTS
COMPANY INFORMATION ..................................................................................................................... 3 
MANAGEMENT REPORT........................................................................................................................ 5 
Operating activities .......................................................................................................... 5 
Company's operations in the reporting year .................................................................. 5 
Financial performance ................................................................................................................. 5 
Non-financial performance and activities for the reporting year ............................................ 7 
Sustainability report ......................................................................................................... 8 
Risk assessment and management ................................................................................ 9 
Stock and fund market ................................................................................................... 10 
Financial risk management ........................................................................................... 11 
Events after the end of the reporting year .................................................................... 11 
Future prospects of Company ....................................................................................... 12 
REMUNERATION REPORT ..................................................................................................................13 
STATEMENT OF MANAGEMENT RESPONSIBILITIES ......................................................................14 
FINANCIAL STATEMENTS: ..................................................................................................................15 
Statement of Profit or Loss ........................................................................................... 15 
Statement of Comprehensive Income ........................................................................... 16 
Statement of Financial Position .................................................................................... 17 
Statement of Changes in Equity .................................................................................... 19 
Statement of Cash Flow ................................................................................................. 20 
Notes to the financial statement ................................................................................... 21 
INDEPENDENT AUDITOR’S REPORT .................................................................................................57 
   
AS Amber Latvijas Balzams 
Annual Report 2024 
3 
COMPANY INFORMATION
Name of the Company  AS Amber Latvijas Balzams 
Legal status of the Company  Joint-stock company 
Registration number, place and date  Registered in the Register of Enterprises 
of the Republic of Latvia  under single number 40003031873
   on 2 October 1991 in Rīga, 
  with repeated re-registration  
  on 20 October 1998
  Registered in the Commercial Register  
  on 19 June 2004 in Rīga   
Address  A. Čaka 160 
  Rīga, LV-1012
  Latvia
Main business  Production of alcoholic beverages 
  NACE2 11.01 
Major shareholder  Amber Beverage Group Holding S.à r.l. (89.99%)  
Names, surnames, positions of the members of   Valizhan Abidov  Chairman of the Council (from 
the Council positions  18.10.2024)
Boriss Ņešatajevs  Deputy Chairman of the
Council (from 18.10.2024)
Velga Celmiņa – Member of the Council
Rolands Gulbis Chairman of the Council (until
18.10.2024)
Valizhan Abidov  Deputy Chairman of the Council
(until 14.06.2024)
Boriss Ņešatajevs Member of the Council (until
18.10.2024)
Guntars Reidzāns Member of the Council (until
18.10.2024)
Names, surnames, positions held by Members of  Andrejs Višņausks - Chairman of the Board (from 
Board   18.09.2024)
Intars Geidāns – Chairman of the Board (until
14.06.2024)
Valizhan Abidov  Member of the Board (from
14.06.2024 to 18.09.2024)
Guntars Betlers Member of the Board (until
14.06.2024)
Guntars Betlers Chairman of the Board (from
14.06.2024 to 18.09.2024)
Guntars Betlers Member of the Board (from
18.09.2024 to 18.10.2024)
   
AS Amber Latvijas Balzams 
Annual Report 2024 
4 
COMPANY INFORMATION (continued) 
Auditor and Responsible Certified Auditor  Ernst & Young Baltic SIA
name and address   Commercial Company Licence No. 17 
  Muitas iela 1A
  Rīga, LV-1010
Latvia
Responsible Certified Auditor:
Diāna Krišjāne 
Certified Auditor
Certificate No. 124
Corporate Governance Report  https://amberlb.lv/en/corporate-governance/    
AS Amber Latvijas Balzams 
Annual Report 2024 
5 
MANAGEMENT REPORT   
Operating activities
AS  Amber  Latvijas  Balzams  (hereinafter  also  “the  Company”)  is  a  leading  producer  of  alcoholic
beverages in the Baltic states. The Company was founded in 1900 as Rīgas Valsts Degvīna Noliktava
Nr. 1 (State Alcohol Warehouse No. 1). From 1970 to 2022, it operated under the name AS Latvijas
Balzams, but 2022, it changed to AS Amber Latvijas Balzams. The Company’s major shareholder is
Amber Beverage Group Holding S.à r.l. (a company registered in Luxembourg, hereinafter also referred
to as the Parent Company or ABGH), which owns 89.99% of the Company shares.
The Company runs two alcoholic beverage production plants in Rīga, a spirits production plant and a
sparkling  wine  and  light  alcoholic  beverage  production  plant.  They  make  most  types  of  alcoholic
beverages, such as sparkling wines, fortified wines, ciders, alcopops, vodka, liqueurs, brandy, spirits,
gin,  etc.  Some  AS  Amber  Latvijas  Balzams  recipes  are  several  centuries  old  with  Rīgas  Melnais
Balzams® origins going back to 1752.
Overall, the Company produces more than 100 brands of beverages. The Company’s products are sold
in almost all regions of the world through Amber Beverage Group and Stoli Group, as well as direct
export.
The Company works with the largest suppliers of raw materials and consumables in the European
Union. The most important resources are water and alcohol-containing raw materials. Water is taken
from artesian wells on the Company’s site. Ethyl alcohol for most of the products is supplied by the
Company's partners working in the European Union.
A small, but still significant, part of the Company’s business is the logistics services. The services are
mainly provided to related companies, but the volume of services to other companies in the alcoholic
beverage industry, such as transit services, customs warehousing services, logistics services, value-
added services, consolidation, etc.,  keeps  going  up.  These  activities enable  more  efficient  use  of
available resources.
AS Amber Latvijas Balzams successfully operates as a European logistics centre for the distribution of
the brands represented by the Group (Rooster Rojo Tequila, KAH Tequila, Bayou Rum, Arinzano,
Achaval Ferrer, Se Busca, Cenote and Kentucky Owl) in Europe, Scandinavia and other countries.
As a socially responsible and sustainable company, we publish the information required by law about
our sustainability and corporate social responsibility measures in accordance with  the GRI (Global
Reporting  Initiative)  principles.  This  information  is  available  in  the  Corporate  Social  Responsibility 
section of the Company’s website. 
The Company has drafted and adheres to the following procedures: Corporate Social Responsibility
Policy,  Company  Procurement  Procedure,  Collective  Bargaining  Agreement,  Quality  Management
Handbook, Ethical Marketing Communication Code, Anti-Corruption Policy, Data Protection Policy, Risk
Management Policy, Remote Work Policy and other internal documents. These documents, policies and
procedures are reviewed regularly, both internally in accordance with the Quality Management System
and as a part of external audits. The audit results and planned corrective measures are considered at
the Company’s management meetings. 
The company is more diligent in ensuring information disclosure and the level of detail in this report has
been improved which has a positive impact on informing the parties involved and creating predictable
and stable long-term relationships.
Pursuant to the good corporate governance practice, the Company appointed one of the leading audit
service providers in the world as a new auditor of the 2024 annual report.
Company's operations in the reporting year
Financial performance
In 2024, the Company’s net turnover reached EUR 78.2 million, which is 20.1% less than in the same 
period of 2023. In 2024, total sales (expressed in 9Lcs) were 19.1% lower than in the same period of
2023. The order volumes in 2024 were affected by strategic decisions regarding the development of the
Stoli brand made by Stoli Group as the largest customer with a share of 40% of the total volumes.
AS Amber Latvijas Balzams 
Annual Report 2024 
6 
MANAGEMENT REPORT (continued) 
01.01.2024-
31.12.2024
01.01.2023-
31.12.2023
9Lcs
9Lcs
Sales Volume, 9-Liter Cases
3 688 923
4 560 336
   
* for the retrospective correction of an error which has significantly affected the financial indicators, see
Note 30 
Gross profit for the reporting period was EUR 16.3 million, which is EUR 1.9 million (+13.0%) more than
in the same period of 2023. The gross profit indicator was negatively affected by the drop in sales
volume, but it was fully offset by lower costs of the most important raw materials and consumables used
in the production (down by 25.8% in comparison with same period of 2023), which was mainly due to
procurement of raw materials at better prices.
In
2024, the operating profit was EUR 2.6 million, which is a loss of EUR 0.6 million in comparison with the
corresponding figure in 2023. The operating profit to turnover ratio in the 2024 reporting period was
3.4% (-0.6% in 2023).
The main reason behind the change in operating profit was the creation of additional provisions. The
total amount of provisions is EUR 16.9 million. Of these, EUR 0.9 million are attributable to 2024. The
2022 and 2023 comparative metrics have been corrected due to the retrospective correction (see
Note 30) from the additional provision, i.e. those are EUR 11.2 million in 2022 and EUR 4.7 million in
2023.
Sales and administrative costs, as well as other operating income and expenses have not changed
significantly in comparison with the previous period.   
AS Amber Latvijas Balzams 
Annual Report 2024 
7 
MANAGEMENT REPORT (continued)
In the reporting period, the Company’s net profit was EUR 4.1 million, which is an increase on same
period of 2023 (EUR 0.4 million).
The  Company’s  alternative  performance  metrics  for  the  reporting year and the comparative figures
thereof for the preceding reporting periods are as follows:
The Company’s Return on Equity (ROE) and Return on Assets (ROA): 
31.12.2024 *
31.12.2023 *
31.12.2022 *
ROA**
2.3% 
0.2 %
-2.7 %
ROE***
3.3 %
0.3 %
-3.7 %
* for the retrospective correction of an error which has significantly affected the financial indicators, see
Note 30 
** ROA = Net profit/average asset value x 100%
*** ROE = Net profit/average equity value x 100%
Average total assets = (total assets at the beginning of the period + total assets at the end of the
period) / 2
Average total equity = (total equity at the beginning of the period + total equity at the end of the
period) / 2
The Company's EBIT* and EBITDA**:
   
* for the retrospective correction of an error which has significantly affected the financial indicators, see
Note 30 
* EBIT = Profit before corporate income tax, finance expenses, finance income 
** EBITDA = Profit before corporate income tax, finance expenses, finance income, depreciation and
amortisation
The Company’s management uses the aforementioned alternative performance metrics for assessing
the financial performance for a specific financial period and decision-making.
AS Amber Latvijas Balzams is one of the largest taxpayers in the country. In the reporting period, the
Company paid EUR 73.9 million to the state budget in taxes, including EUR 57.4 million in excise duty.
Non-financial performance and activities for the reporting year 
Similar to the turnover, in 2024, the production output also dropped by 20% in comparison with 2023.  
2024 * 2023 * 2022 *
EUR 000  EUR 000  EUR 000
EBITDA** 5 496                1 840                (2 734)              
EBIT *** 2 646                (581)                 (4 857)              
AS Amber Latvijas Balzams 
Annual Report 2024 
8 
MANAGEMENT REPORT (continued)
Considering the drop in the production volumes and overall profitability, the Company has taken a series
of measures to boost its production efficiency and cut costs:
  continued work to preserve and achieve even further improvements in the filling equipment
overall equipment effectiveness (OEE) indicator;
  re-negotiated energy resource purchase agreements which came into effect in the second half
of 2024 and created additional production cost savings;
  labour resources and other costs adjusted to match current production volumes by switching
to single shift work, which enabled significant workforce optimisation (-21% in comparison with
the same period of 2023).
Despite the drop in sales volumes, in 2024, the Company, following the Amber Group 2030 strategy and
taking a series of steps to boost efficiency, invested in the development of its production facilities
especially focusing on improving efficiency and adaptability, as well as maintaining the low cost base.
The most significant investment projects completed in the reporting year were:
  Purchase of vodka production equipment (for Green Mark);
  Purchase of glass bottle making equipment (250 ml, for alcopops);
  Replacement of the product cooling system in the liqueur department;
  Purchase of equipment for the new Moskovskaya labels;
  Washing unit control automation distribution upgrade 
In addition to the financial indicators set out in the report, the Company uses the following comparative
metrics for its performance analysis: RFT (right first time) and OTIF (on time in full) & quality. RFT
measures the percentage of products manufactured correctly in the first run. In 2024, it reached 97.5%,
which shows an improvement in comparison with the same metric in 2023 (94.9%). The OTIF metric
represents the Company's ability to deliver customer orders on time, in full and with required quality. In
2024, it reached 95.5%, which is an improvement on 95% in 2023.
In 2024, the product range was expanded with new products Riga Black Balzam® Tropical, Bonaparte
Black,  Cosmopolitan  Diva®  Mojito  Fusion,  new  sizes  were  introduced  for  Riga®  Prestige  Cuvee
sparkling wine Semi Seco, Gradus Vodka, Moka, Grand Cavalier® brandy, Spartaks Premium, Žolynų, 
and new designs were created for Irish Whiskey De Danann, Hektors, 3 graudu, Rīgas šampanietis®
for the holiday season. In 2024, Company also continued the rollout of the new Moskovskaya® Vodka
design on international markets. 
Sustainability report 
In 2024, Company’s Parent company Amber Beverage Group Holding S.à rl.  (ABG Group) issued a 
Sustainability Report in accordance with the GRI (Global Reporting Initiative) principles also including 
the Company’s information in it. It allowed the Company not to publish a separate sustainability report. 
The  ABG  Group  Sustainability  Report  also  includes  information  on  environmentally  sustainable
business  activities  in  accordance  with  the  European  Union  taxonomy  requirements.  The  ABG
Sustainability Report is published alongside the ABG Group Annual Report and is available in the ESG
Reporting section of the ABG website.
Pursuant to European Commission (EC) Regulations No. 2020/852 and No. 2021/2178, the Company
discloses  qualitative  and  quantitative  information  on  taxonomy-eligible  and  taxonomy  non-eligible
economic activities for each of the three indicators: turnover, capital expenditure, operating expenses.
According  to  the  classification  included  in  the  EU  Taxonomy  Compass,  all  Company’s  economic
activities are considered taxonomy non-eligible.
In line with the Amber Group Sustainability Strategy, the Company will also continue working to achieve
its sustainability objectives to enable it taking necessary steps in 2025 and 2026 to fully adopt the CSRD
and ESRS standards in the Company.   
AS Amber Latvijas Balzams 
Annual Report 2024 
9 
MANAGEMENT REPORT (continued)
Risk assessment and management
Within the Company’s product and risk management process, when evaluating the external and internal
environmental factors that may affect the Company’s operations, the following factors being the object
of special attention should be mentioned:
  Timely identification of and compliance with any changes in legal requirements, ensuring staff
briefing and awareness in a timely manner
  Ensuring  production  continuity  by  planning  production  capacity  and  workload  in  a  timely
manner
In its operations, the Company strictly adheres to the laws of the Republic of Latvia. Considering its
business sector, the Company places extra emphasis on the assessment of transactions and their
compliance with laws.
The Company closed 2024 with a profit of EUR 4,088 thousand and as at 31 December 2024 its current
assets still exceeded its current liabilities by EUR 75 million, and the net asset amount after correction
of the preceding year's errors remained at 125 million.
However,  the  Company’s  management  acknowledged  that  a  large  portion  of  current  assets  of
EUR 73 million consists of receivables from related parties and other related companies of the group.
The increased operational, market and geopolitical risks associated with these financial assets include
loan recovery risks. Additional sales drop risks in the US and uncertainties around the extra tariffs on
exports to the US make the Company’s management wonder about the liquidity risk deterioration and,
consequently, collectability of these receivables during 2025 and in the foreseeable future.
The Company continues to provide guarantees and has pledged its tangible and intangible assets to
guarantee the loans received by the parent company. The Companys management is aware that these
loans are subject to certain covenants. The parent  company had not fulfilled individual covenants 
actively  informing  its  creditors  and  receiving  refusals  to  use  premature  loan  repayment.  These
circumstances  expose  the  Company  to  the  risk  that  banks  demand  the  realisation  of  guarantee
obligations and pledges from the Company, thus potentially significantly harming the Company’s liquidity
position.
Due to the decline in the volume of products sold in 2024, which subsequently required a series of
operational and financial actions to streamline the Company’s operations, in 2024 the Company faced
multiple challenges, which continue in 2025 and on which the Company plans to work actively in 2025
and 2026:
  Optimising both variable and fixed cost base;
  Implementing planned investment projects and launching new products timely and in full;
  Ensuring fulfilment of orders under conditions of increased demand, especially in the second 
half of the year;
  Strengthening the Company’s liquidity, working capital turnover and profitability indicators to
ensure the planned cash flow forecast indicators in 2025 and 2026;
  In the second half of 2025, reviewing and, if necessary, restructuring the payment term
structure, as well as these related companies' debt payment conditions to related companies
in the Amber and Stoli Groups. The purpose of these actions and decisions is to ensure the
optimal and effective redistribution of costs and resulting credit and liquidity risks within the 
Group for the benefit of both the Company and related parties;
  Improving inventory turnover ratios and primarily significantly reducing the balance of slow-
moving inventory items;
  The Company management will assess and regularly monitor the decisions of the US courts
regarding the impact of Chapter 11 on the conditions for the continuation of the activities of
the related group company in the US, so that the Company can take the necessary measures 
in a timely manner to ensure sales volumes in the US market;
  Regularly assessing the impact of potential import tariffs imposed by the US government on
the Company’s sales  figures,  as  well  as  monitoring their  possible  growth  and  dynamics.  
   
AS Amber Latvijas Balzams 
Annual Report 2024 
10 
MANAGEMENT REPORT (continued)
Assessing and planning the future liquidity items, the Company’s management has drawn up detailed
cash flow forecasts and estimated that the Company will have sufficient current asset resources
available in 2025 and 2026 to ensure stable liquidity in accordance with the Company’s cash flow
forecasts for the aforementioned forecast period. Therefore, the Company’s management believes
that the Company will be able to obtain sufficient and positive financing for its current liquidity
requirements and ensure the Company’s continued operations in the future.  
On  25 August  2024,  the  Company  experienced  an  external  cyberattack  on  internal  IT  systems.
Following the Company’s IT security instructions, this incident was promptly identified and fended off.
The Company assessed the situation very seriously and subsequently took all the necessary actions
set forth in the instructions to mitigate the consequences, as well as informed the responsible data
protection and security authorities of the Republic of Latvia. As a result, a criminal case has been
initiated regarding the cyberattack and the Company’s management and responsible IT services are 
fully cooperating with the responsible authorities.
Since  the  Company  management  takes  the  privacy  of  data  and  information  resources  and  their
cybersecurity very seriously, following the incident, the Company has taken additional measures and
implemented additional automated control procedures to strengthen the Company's cybersecurity and
the related internal  control system to protect  the Company's  internal and external process and  IT 
resources and data and their continuity of operations in the interests of the Company.
Stock and fund market
In 2024, the Company's share price fluctuated between EUR 8.30 and EUR 9.40 share (Nasdaq Baltic
ticker BAL1R; ISIN: LV0000100808).
Members of the Board and Council of the Company do not own AS Amber Latvijas Balzams shares.
   
AS Amber Latvijas Balzams 
Annual Report 2024 
11 
MANAGEMENT REPORT (continued)
The share price trends in the previous three reporting periods are as follows:
Average price, EUR
Minimum price, EUR
Maximum price, EUR
9.04 
8.30 
9.40 
9.58 
8.80 
10.20
10.00
8.93 
11.92
Financial risk management
The main business of AS Amber Latvijas Balzams is associated with exposure to several financial risks,
including  credit  risk,  liquidity  risk  and  interest  rate  risk.  The  Company  management  continuously
assesses financial risks in order to minimise their potential negative impact on the Company's financial
performance.
Financial  assets  which  could  potentially  subject  the  Company  to  a  certain  degree  of  credit  risk
concentration are mainly related party receivables and loans to related companies. The Company has
implemented and adheres to a credit policy to consider offering post-payment terms to customers with
a good credit history.
Although the Company's operational performance remains strong, the Company actively manages its
timing of incoming cash flow, particularly with respect to receivables.
In its international transactions, the Company also complies with the sanctions regime based on the
information published on the website of the Ministry of Foreign Affairs of the Republic of Latvia, as well
as on its internal procedures.
As  at  31 December  2024,  the  Company’s  current  assets  exceeded  its  current  liabilities  by
EUR 75 million  (by  EUR 79 million  as  at  31 December  2023).  The  Company  can  meet  its  current
liabilities as they fall due. The Company’s liquidity ratio (current ratio) and short-term liquidity ratio (quick 
ratio) for the last three years are as follows: 
  2024 *
2023 *
2022 *
Current ratio**
2.53 
2.34 
2.70 
Quick ratio***
2.03 
1.67 
2.08 
* for the retrospective correction of an error which has significantly affected the financial indicators, see
Note 30 
** Current ratio = Current assets / current liabilities.
*** Quick ratio = (trade receivables + related party receivables + cash and cash equivalents) / current
liabilities
Financial risk governance is further disclosed in Note 28. 
Events after the end of the reporting year
In the period since the last day of the reporting year until the date when the financial report was signed,
there were no events that would have any significant effect on the financial position of the Company as
at 31 December 2024. 
   
AS Amber Latvijas Balzams 
Annual Report 2024 
12 
MANAGEMENT REPORT (continued)
Future prospects of Company
In 2025, AS Amber Latvijas Balzams will continue to focus on:
  Investments in its core brands to build international recognition;
  Brand and product portfolio optimisation;
  Enhancement of technological security and ensuring continuous production;
  Supply chain optimisation through boosting cost efficiency;
  Improving the quality of customer service;
  Production efficiency improvement programme. 
The Company will continue boosting its production efficiency focusing on procurement, planning and
infrastructure improvements to achieve its goal: to deliver quality products at a competitive price. The
start of production of the Moskovskaya Vodka new design is planned.
Together with increased productivity, profitability and profit indicators, achieving this goal will enable
more efficient planning of production capacity and more flexible adaptation to the market needs and
demand.
To achieve this goal, the work on the following projects will continue in 2025:
  optimisation of production shift work organisation; 
  optimisation of technical facilities and capex planning; 
  introducing and implementing additional LEAN-based measures and practices; 
  boosting the efficiency of logistics operations; 
  reduction of losses at production stages; 
  personnel training, boosting employee motivation. 
On behalf of the Board:
________________________   
Andrejs Višņausks 
Chairman of the Board   
THIS DOCUMENT IS ELECTRONICALLY SIGNED WITH A SECURE ELECTRONIC SIGNATURE
AND CONTAINS A TIME STAMP
   
AS Amber Latvijas Balzams 
Annual Report 2024 
13 
REMUNERATION REPORT
The Remuneration  Report is  published in Latvian and English together  with the audited Company’s
annual report as a separate part of the annual report in the For Investors section of the Company’s 
website at www.amberlb.lv and Nasdaq Riga website at www.nasdaqbaltic.com.  
   
AS Amber Latvijas Balzams 
Annual Report 2024 
14 
STATEMENT OF MANAGEMENT RESPONSIBILITIES
The Company’s management  is  responsible  for  drawing  up  the  Company’s  financial  statements  in
accordance with the requirements of the IFRS accounting standards endorsed in the European Union.
The financial statements give a true and fair view of the financial position of the Company at the end of
the reporting year and its performance indicators and cash flow for the reporting year.
The Management confirms that the appropriate accounting and valuation policies have been used for
the financial statements on pages 15-56 and that the decisions and estimates made have been prudent
and reasonable. The Management confirms that the financial statements have been drawn up on a
going concern basis.
The Management is responsible for maintaining proper accounting system, safeguarding the Company’s
assets, as well as for detecting and preventing fraud and other irregularities occurring in the Company.
The Management is responsible for complying with statutory regulations of the Republic of Latvia.
On behalf of the Board:
________________________   
Andrejs Višņausks 
Chairman of the Board   
THIS DOCUMENT IS ELECTRONICALLY SIGNED WITH A SECURE ELECTRONIC SIGNATURE
AND CONTAINS A TIME STAMP
AS Amber Latvijas Balzams 
Annual Report 2024 
15 
FINANCIAL STATEMENTS:
Statement of Profit or Loss
*For additional information on adjustments, see Note 30.
The Notes on pages 21 to 56 are an integral part of this financial statement.
On behalf of the Board:  
____________________   
Andrejs Višņausks 
Chairman of the Board
   
________________________ 
Ināra Kondratoviča 
Chief Accountant, SIA Amber Beverage Group  
THIS DOCUMENT IS ELECTRONICALLY SIGNED WITH A SECURE ELECTRONIC SIGNATURE
AND CONTAINS A TIME STAMP
AS Amber Latvijas Balzams 
Annual Report 2024 
16 
Statement of Comprehensive Income
*For additional information on corrections, see Note 30.
The Notes on pages 21 to 56 are an integral part of this financial statement.
On behalf of the Board:
____________________   
Andrejs Višņausks 
Chairman of the Board 
   
________________________ 
Ināra Kondratoviča 
Chief Accountant, SIA Amber Beverage Group  
THIS DOCUMENT IS ELECTRONICALLY SIGNED WITH A SECURE ELECTRONIC SIGNATURE
AND CONTAINS A TIME STAMP
   
AS Amber Latvijas Balzams 
Annual Report 2024 
17 
Statement of Financial Position
*For additional information on adjustments, see Note 30.
The Notes on pages 21 to 56 are an integral part of this financial statement.
On behalf of the Board:  
____________________   
Andrejs Višņausks 
Chairman of the Board 
   
________________________ 
Ināra Kondratoviča 
Chief Accountant, SIA Amber Beverage Group  
THIS DOCUMENT IS ELECTRONICALLY SIGNED WITH A SECURE ELECTRONIC SIGNATURE
AND CONTAINS A TIME STAMP
   
AS Amber Latvijas Balzams 
Annual Report 2024 
18 
*For additional information on adjustments, see Note 30.
The Notes on pages 21 to 56 are an integral part of this financial statement.
On behalf of the Board:  
____________________   
Andrejs Višņausks 
Chairman of the Board 
   
________________________ 
Ināra Kondratoviča 
Chief Accountant, SIA Amber Beverage Group  
THIS DOCUMENT IS ELECTRONICALLY SIGNED WITH A SECURE ELECTRONIC SIGNATURE AND
CONTAINS A TIME STAMP
AS Amber Latvijas Balzams 
Annual Report 2024 
19 
Statement of Changes in Equity
*For additional information on adjustments, see Note 30.
The Notes on pages 21 to 56 are an integral part of this financial statement.
On behalf of the Board:  
____________________   
Andrejs Višņausks 
Chairman of the Board 
   
 
________________________ 
Ināra Kondratoviča 
Chief Accountant, SIA Amber Beverage Group  
THIS DOCUMENT IS ELECTRONICALLY SIGNED WITH A SECURE ELECTRONIC SIGNATURE AND
CONTAINS A TIME STAMP