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BAL: Not audited financial Statements of the first 9 months of 2012

Spekuliantai.lt | 2012-11-30 | NASDAQ OMX biržų naujienos | perskaitė: 512
Raktiniai žodžiai: Latvijas balzams, BAL
BAL: Not audited financial Statements of the first 9 months of 2012

Latvijas balzams Quarterly report 30.11.2012

Not audited financial Statements of the first 9 months of 2012

Management report

Field of activity

The enterprise was founded in 1900, but the actual name it has got in 1970. JSC
“Latvijas balzams” is the leading producer of alcoholic beverages in the Baltic
States that produces more than 100 different kinds of alcoholic drinks. Our
products can be found in more than 30 countries as the direct export of
„Latvijas balzams” and in more then 160 countries via the export of the SPI
group. The major shareholder of JSC “ Latvijas balzams” is SPI Regional
Business Unit BV which owns 89.53% of the company’s equity capital.

The activity of enterprise in 9 months of 2012

JSC “Latvijas balzams” is the leading producer of alcoholic beverages in
Latvia, as well as one of the largest taxpayers in Latvia. During the first
nine months of 2012 JSC “Latvijas balzams” paid 26.3 millions lats to the state
budget, including excise tax amounting to 18.3 millions lats.

The unaudited turnover of the company in 9 months of 2012 reached 50.3 million
lats, which is by 8% more than income for the same period in 2011. The turnover
in the domestic market increased by 7.7%, in the export market dropped by
3.1%. Export orders of S.P.I. Group have increased by 10.5%. During 9 months
of 2012 sales to EU countries have decreased by 12.7%, due to the structural
changes in private label clients orders. At the same time sales to Russia
increased by 39% and to Latvia`s tax free zone by 30%. Sales to Germany also
have increased significantly. Overall increase in sales was determined by
targeted market relations with partners in the main markets. During 9 months of
2012 the most important export markets were the Baltic States, Russia, Germany
and Scandinavia. Meanwhile, new export markets were actively acquired, for
example, Croatia and Georgia.

The unaudited profit for the reporting period was 2.5 million lats, which is
19% growth versus the same period of 2011. The result was determined by focused
development of beverage portfolio.

JSC “Latvijas balzams” has received special award of the Ministry of Welfare
of Latvia for being “Senior - friendly company”. This acknowledges ”Latvijas
balzams” expertise and quality of its social programs for supporting employees.

Future outlook of activities

The company has improved its product portfolio. Since the beginning of the year
“Latvijas balzams” has successfully introduced 14 new products for local and
export markets. Further the Company will continue to focus on development of
competitive products, retain existing market share, and grow in export
markets.

JSC “Latvijas balzams” 2012 priorities will be further control of production
and logistics costs, optimization and improvement of production efficiency,
increase of company's competitiveness, analysis and planning of potential
export development opportunities.

JSC “Latvijas balzams” will continue to support nature friendly solutions,
persistently improving activities that decrease company's negative impact on
the environment, establishing high requirements for itself and company's
partners and following the principles of sustainable business.



JSC Latvijas balzams

Chairman of the Board
Guntis Āboltiņš - Āboliņš



Riga, November 30th, 2012


1. LB 3Q2012 EN_latos.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=411980)
2. LB 3Q2012 EN_EUR.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=411966)

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