AS Latvijas balzams: Latvijas balzams reports unaudited 9-month operating results

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30.11.2021 30.11.2021

The unaudited net turnover of the leading producer of alcoholic beverages in the Baltic States, AS Latvijas balzams (hereinafter also – the Company), for the first nine months of the year 2021 reached 53.0 million euros. , an increase of 12.1% compared to the period in 2020. The increase in turnover is linked to the improvement of the economic situation and the easing of restrictions imposed by national governments on the situation of the economy. Covid-19 pandemic.

The net profit for the reference period is 6.3 million euros, which is 39.3% higher than for the respective period of the year 2020 and which was positively affected by an increase in the volumes of orders, through the implementation of measures for the efficiency of the company’s processes and also cost reduction activities.

The operating profit for the first nine months of 2021 amounts to 5.4 million euros, which is higher than that for the respective period of the year 2020 (3.1 million euros). The operating margin for the period considered is 10.1% (2020: 6.6%).

AS Latvijas balzams is one of the biggest local taxpayers. During the reporting period, the Company paid 49.8 million euros in taxes to the State budget, including excise duties in the amount of 39.3 million euros.

More information can be found in the Latest Financial Indicators section.

Balzams JSC Latvijas
President of the council
Intars Geidans

Disclaimer

Latvijas Balzams AS published this content on November 30, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 30, 2021 02:00:03 PM UTC.


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