Altia H1 sales reach €165m
Finnish drinks group Altia saw its sales grow to €165 million (US$184m) in the six months to June 2019, boosted by a 4.7% increase in Q2.
The Larsen Cognac maker saw its sales grow by 2.7% in H1 2019, while sales for the three months to June 2019 reached €91.2m (US$101m).
Altia CEO Pekka Tennilä said: “We are pleased to see reported net sales growing by 2.7% to €165 million during the first half of 2019. In constant currencies, net sales grew by 3.5% compared to last year.
“In the second quarter, reported net sales grew by 4.7% to €91.2 million and in constant currencies by 5.4%.”
Altia, which owns brands such as O.P. Anderson aquavit, Koskenkorva vodka and Explorer vodka, saw sales in Finland and export segments dip to €59.6m (US$66m) in H1, while the company’s Scandinavian sales grew to €50.7m (US$56m).
Tennilä added: “The total wine and spirits volumes in all three monopolies declined during the first half of the year. Specifically in Finland the volume decline has not flattened out, as we previously have anticipated, rather the decline of 3.5% is steeper than in the same period last year.
“The wine markets have also declined in the Swedish and Norwegian monopolies, while we see a more positive development in spirits in both countries.”
Altia reported net sales for its Industrial unit were €54.7m (US$61m) and earnings before interest, tax, depreciation and amortisation (EBITDA) was €13.5m (US$15m) – 8.2% of net sales.
Tennilä said the company is working on initiatives that will “support top-line growth”, such as revenue management and new product development.
He said: “Within revenue management, we made further price adjustments in both Finland and Norway in all categories in the second quarter.
“We have also proceeded with the optimisation of the alcohol by volume levels of selected spirits products, and the first new products were introduced in the Finnish monopoly at the end of the second quarter.
“We are expanding with new innovations in growing categories and in grocery trade.”
Earlier this year, the Finnish drinks group entered into a “strategic partnership” with Danish spirits firm Conaxess Trade Beverages to boost its growth in Denmark.