Amber Beverage Group Holding announces unaudited 6-month operating results for 2024
The unaudited consolidated net revenue from continuous operations of Amber Beverage Group (hereinafter also - the Group or ABG) for the first six months of the year 2024 reached EUR 115.8 million, reflecting a 18% 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 strategic decisions on core brand pricing effective from March 2024 resulted in temporary decrease of sales volume in some core markets. It is expected that the volumes will pick up in subsequent periods improving the financial performance.
Group’s profit is negatively affected by expenses of de-recognition of Amber Talvis AO following the order by District Court of Tambov Region of Russian Federation according to which the shares of the Amber Talvis AO owned by Amber Beverage Group Holding S.a r.l. are to be transferred for the favour of the Russian Federation.
Despite the challenges faced, ABG remains committed to efficiency improvements in revenue management, brand-building, and demand planning, as well as non-stop process improvements in production and logistics.
The ABG management team consistently maintains the focus on the Group’s strategic priorities: ensuring the continued development of ABG core brand equity and being the preferred distribution partner for third-party brand owners., as well as maintaining collaborative relationships with Group’s key stakeholders.
Investor relations contact person:
Arturs Evarts
Member of the Board
Phone: +371 6701 1705
Email: forinvestors@amberbev.com
www.amberbev.com
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