Leading producer of alcoholic beverages in the Baltic States

The management of the leading producer of alcoholic beverage in the Baltic States informs about the payment of dividends to the shareholders of JSC Latvijas balzams in the amount of 3.4 million euros. The meeting also decided that in May 2022 the name of the company will be changed.

The net revenue of the leading producer of alcoholic beverages in the Baltic states, JSC Latvijas balzams, for the first half of the year 2021 reached EUR 31.6 million euros, an increase by 4,7% against the respective period in 2020. The increase in turnover is related to the improvement of the economic situation and as the result of facilitating the restrictions imposed by national governments on the Covid-19 pandemic situation.

This year, Amber Beverage Group plans to add an additional recognition mark ‘Amber’ to five of its companies all around the world. It is planned to preserve part of the historical name in the new name of JSC Latvijas balzams, thus it could be Amber Latvijas balzams.

The net profit of the leading alcoholic beverage producer in the Baltic States, JSC Latvijas balzams, in the first three months of 2021 is 1.1 million euros, which is higher than in the respective period in 2020. The increase in net profit was positively influenced by the Company’s process efficiency measures since the beginning of the Covid-19 pandemic, as well as the implemented cost reduction activities, as well as the received state support to minimize the pandemic consequences.