Amber Beverage Group report no year-on-year decline in revenue

25 May, 2021

Amber Beverage Group (ABG) has reported that net revenues in 2020 remained at 2019 levels despite an 8.4% drop in volumes due to the global pandemic.

The Luxembourg-based drinks group achieved a net revenue of €268.7m.

“Despite the pandemic, we have managed to exceed the EUR 30 million EBITDA. The financial performance, as always, was the result of the daily dedication and resilience of our teams and I’m thankful to all employees in more than 20 companies from production all the way through to retail,” said Jekaterina Stuģe, chief executive, Amber Beverage Group.

“The growth of ABG has always been driven both by organic growth in our key markets and by the addition of new business opportunities. I’m really happy to see that despite the challenges in the industry ABG’s position in our core markets has strengthened in 2020.”

Core brand Moskovskaya vodka performed well, expanding into the emerging hard seltzer category, the Russian vodka brand is set to surpass 1 million 9L cases in the next five years.

Last year, ABG added KAH Tequila to their portfolio, and following a launch in the USA sold over 3,100 9L cases in Q4.





Digital Edition

Drinks International digital edition is available ahead of the printed magazine. Don’t miss out, make sure you subscribe today to access the digital edition and all archived editions of Drinks International as part of your subscription.

Comment

Nick Strangeway

STRANGER THOUGHTS: A place for members

The recent launch of Martinez members’ cocktail bar on Soho’s Greek Street struck a chord with me.

Instagram

Facebook