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The unaudited consolidated net revenue of the Amber Beverage Group (hereinafter also - the Group or ABG) for the first six months of the year 2023 reached EUR 163.8 million, an increase of EUR 12.2 million (+8.1%) against the respective period in 2022 that has been reached by opening new markets for ABG brands, general economic situation improvements in Europe and the Baltic States.
While the net revenue shows stable growth, the overall financial performance of the Group has been impacted by the rapid increase in production costs in the second part of 2022, including higher costs of energy, resources, and salaries. Meanwhile, the Group has continued and will continue to work on efficiency improvements - revenue management, sales promotion and demand planning, as well as non-stop process improvements in production and logistics.
During the reporting period, with the intention of acquiring financing for the construction of a high-bay automated warehouse in Riga, Latvia, ABG issued EUR 30 million in 4-year bonds, which are listed on the Frankfurt Stock Exchange.
Amber Beverage Group is a rapidly growing global spirits company whose products are found in millions of households and venues across the globe. The Group was established in 2014, and through organic growth and acquisitions, it has become a global spirits industry player that unites more than 1 600 employees in more than 20 companies in the Baltic States, its historical home, Austria, Australia, Germany, Ireland, Mexico, and the United Kingdom. The Group owns three production companies, ten distribution companies, and three retail chains.
Amber Beverage Group produces, bottles, markets, distributes, exports, and retails a comprehensive range of beverages, of which it owns more than 100 brands, and is responsible for marketing and distributing 1 400 own- and third-party brands in all spirit categories, including tequila, whiskey, vodka, gin, as well as wine, RTDs, and others.
Unaudited condensed consolidated financial statements for the six-month period in 2023 are available HERE.
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