For the second year in a row, the Moskovskaya® Vodka owner, Amber Beverage Group (ABG), has seized opportunities in the global market and exceeded its previous year’s results, reaching the EUR 30m EBITDA milestone, despite the pandemic. This affirms ABG’s ability to adapt quickly to the new reality, introducing line extensions to several of its core brands and growing its presence in e-commerce.
The Group’s unaudited financial results for 2020 indicate that ABG has generated a net revenue of EUR 268m, which is in line with its 2019 results. ABG is proud that its operating profit grew by 3%, reaching EUR 21.6m and EBITDA reached EUR 30.9m in 2020.
“Thanks to the incredible team at ABG and our excellent partners all over the world, we have been able to close the year with strong results. Overcoming 2020 hasn’t been an easy task for many companies and I am tremendously proud of my colleagues. At ABG, we believe that the future belongs to those who invent it, and we will use every opportunity to showcase this while reaching our goal – to become one of the Top 10 spirits industry leaders,” said Jekaterina Stuģe, CEO of Amber Beverage Group.
In 2020, the Group’s financials were boosted by sales through e-commerce channels both at ABG-owned platforms and those operated by partners, allowing the business to close the gaps left by traditional on-trade channels. Likewise, restructuring ABG’s approach to its US operations paid dividends: the company appointed several premium distributors for its core brands, emphasising the importance of the US market within ABG’s global landscape.
Even during the challenging business environment, the Group managed to launch several line extensions for its core brands providing new flavour experiences to consumers worldwide. The Group launched Riga Black Balsam® XO, which is the brand’s most prestigious offer to date, and a festive limited edition – Riga Black Balsam® Chocolate & Mint. The Group continued to expand its premium gin portfolio with the launch of Cross Keys Gin® Sea Buckthorn that honours its provenance and craftsmanship. With the pink trend still booming around the globe, the Group launched its innovative Moskovskaya® Pink Vodka in several key markets, including the UK, Portugal and in Finland’s alcohol monopoly.
Among other spirits, Tequila has continued to be in the spotlight for ABG: in 2020, the Group took over the international distribution rights of KAH® Tequila, and Rooster Rojo® tequila made a strong entry into the US, Canada, the UK and Australia, with great potential in the years to come. Acknowledging the future prospects of Tequila, last year ABG made a significant investment and acquired 220-hectares of agave fields filled with one to three year-old agave plants that will be used to support the operations at the highly-awarded tequila producer, Fabrica de Tequilas Finos.
Amber Beverage Group (ABG) is a leading producer, distributor, logistics provider and retailer of beverages. ABG operates internationally from its head office in Luxembourg and through its production and distribution companies in Russia, Mexico, the UK, Australia, Austria and the Baltics, its historical home.
Source: Amber Beverage Group
Photo: ©iStockphoto | Ekaterina Zaitseva