The unaudited net revenue of the leading producer of the alcoholic beverages in the Baltic States, AS Latvijas balzams, for the first nine months of year 2020 reached EUR 47.3 million, a decrease by 10.6% against first nine months of year 2019, mainly affected by the Covid-19 pandemic situation in many parts of the world and the restrictions implemented by national governments.
While waiting Christmas, one of the world’s oldest bitter brands and at the same time the Most Unique Brand in the Baltics is launching a limited edition version of the drink especially suitable for this season – Riga Black Balsam Chocolate & Mint.
Even in this extraordinary year, two new products are being offered to lovers of the legendary drink: Limited Edition Riga Black Balsam with chocolate and mint taste, as well as two RTD Black Balsam cocktails in a contemporary and sustainable format – cans.
Within the project “LIFE Fit for REACH”, the leading producer of alcoholic beverages in the Baltics, JSC Latvijas balzams, has successfully identified chemicals and mixtures used in the company’s operations, which the company could replace with less harmful substances for employees and the environment.
Latvijas balzams, the leading producer of alcoholic beverages in the Baltic States, continues to gradually implement the goals set for 2020 and expand its gin portfolio with a rare and specific to the region beverage – Cross Keys Gin with a sea buckthorn taste.
The net revenue of the leading producer of alcoholic beverages in the Baltic states, JSC Latvijas balzams, for the first half of year 2020 reached EUR 30.2 million, decrease by 10.7% against first half of year 2019, mainly affected by the COVID-19 pandemic situation in many parts of the world and the restrictions implemented by national governments.
With the resumption of the can filling line, the leading producer of alcoholic beverages JSC Latvijas balzams starts the production of the award-winning lemonade Green Cola for the Baltic market. Well-known brands such as Riga Black Balsam, sparkling drink Cosmopolitan Diva and vodka brand Moskovskaya Vodka will soon get new variations on this production line.
The unaudited net revenue for the first quarter of 2020 of the leading producer of alcoholic beverages in the Baltic states, JSC Latvijas balzams, reached EUR 15.9 million, 0.3% up against first quarter 2019, which is predominantly owing to changes in sold product mix.
The leading producer of alcoholic beverages in the Baltic States, JSC Latvijas balzams, last year reached EUR 10.05 million net profit, which is 7% more than in 2018. Changes of the net profit indicator were mainly driven by the improvement of sales and profitability, active efforts undertaken to cut fixed costs and a positive impact of investments made in production processes. The profit was also largely affected by the supply of logistics services to other enterprises of the alcohol industry, chiefly the handling of consignments in transit to Russia and Ukraine.
Many have expressed interest in purchasing the hand and surface disinfectant Virudes manufactured by JSC Latvijas balzams: governmental institution, health institutions, food manufacturers, sanitary distributors and companies that are ensuring premises disinfection, also retail chains. Although Latvijas balzams initially planned production capacity of up to 6 tons per day, due to high demand, production capacity of Latvijas balzams was increased up to 20 tons per day.