Stock Spirits records double-digit growth

01 April, 2011

Stock Spirits recorded double-digit organic revenue growth and profit growth in 2010.

The drinks group, which claims to be central Europe’s leading branded spirits and liqueurs business, saw revenue up 13.3%, from €272.3m in 2009 to €308.6m in 2010.

The group’s EBITDA (earnings before interest, taxes, depreciation and amortisation) rose by 16.6% from €58.5m in 2009 to €68.2m in 2010.

Chris Heath, chief executive officer of Stock Spirits Group said: “In what was a tough year for the central Europe spirits markets, we were delighted to achieve double-digit growth, remain highly cash generative and strengthen our market shares in our main markets."

According to Stock, its share of the Polish market stands at 36%, having risen by 10% in a year, while its share in the Czech Republic is also 36%.

Volume sales for the year were 17.7m nine-litre cases, up from 15.3m in 2009.

The group’s Polish vodka Czysta de Luxe grew again, recording an 18.5% rise with case volume sales of 6.4m.

Heath said: “Having established Stock as one of the leading branded spirits and liqueurs businesses in central Europe, it is now very pleasing to be recognised as one of the top vodka producers globally.”

The drinks group launched 18 new products in 2010, including Stock Prestige – which is now the number one imported vodka in Croatia – and Stock XO brandy and Limonce liqueur in the UK.

Heath added: “We were particularly pleased to grow profitability despite launching nearly twenty new products in the year and experiencing raw material volatility.”

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