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The unaudited consolidated net revenue of the Amber Beverage Group (hereinafter also - the Group or ABG) for the first three months of the year 2024 reached EUR 56.9 million, reflecting a 24% decrease from the same period in 2023. This decline is primarily attributed to decrease of production volumes for private label customers and an economic slowdown in the Group’s key markets, leading to stock reductions across various channels amid industry-wide inventory adjustments.
The revenue deviation is also impacted by the imposed price increase for ABG core brands in the reporting period which resulted in phasing of sales in some of the core markets (e.g., the US, South Africa, Italy and Spain) and partially by changes of the Group structure since 2023. Despite the challenges faced, ABG remains committed to efficiency improvements in revenue management, sales promotion, and demand planning, as well as non-stop process improvements in production and logistics. It is expected that the volumes will pick up in subsequent periods improving the financial performance.
The ABG management team consistently maintains the focus on the Group’s strategic priorities: ensuring the continued development of ABG core brand recognition and opening new markets, as well as being the preferred distribution partner for third-party brand owners.
Unaudited condensed consolidated financial statements for the three-month period in 2024 are available HERE.
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