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The unaudited net revenue of the Amber Beverage Group Holding S.à r.l. (hereinafter also - the Group or ABG) in 2023 reached EUR 329 million, a decrease of EUR 36.7 million (-10%) against the respective period in 2022, which is mainly caused by a decrease in production volume for private label customers, an economic slowdown in some major markets, leading to stock reductions, negative impact from foreign currency fluctuations and disposed business. The operating profit in 2023 amounts to EUR 21.1 million, which is 33.6% lower (by EUR 10.7 million) than in 2022.
The financial performance of 2023 has been impacted by the rapid increase in production costs that were observed starting in the second part of 2022, including higher costs of energy, resources, and salaries, which have a full-year impact in 2023 only.
The Group maintains a well-leveraged capital structure to support the growth of the business. During the reporting period, ABG issued EUR 30 million in 4-year bonds with the intention of acquiring financing for the construction of its high-bay automated warehouse in Riga, Latvia. In August 2023, the construction agreement with Aimasa SIA was concluded, and construction works were started.
The Group has continued and will continue to work on efficiency improvements: revenue management, sales promotion, and demand, as well as non-stop process improvements in production and logistics.
Paziņojums latviešu valodā ir pieejams šeit.