Nordic drinks firm Anora has posted a 1.8% increase in net sales to €299.2 million in the first half of its financial year.
Comparable EBITDA amounted to €31.9 million, or 10.7% of net sales, down from €40.3 million in the same period last year.
In the second quarter of 2022, the company’s net sales increased 3.4% year on year to €165.7 million.
Comparable EBITDA during the quarter declined to €18.9 million from €23.6 million last year.
According to Anora CEO, Pekka Tennilä, comparable EBITDA was impacted by increased input costs and weaker performance in the wine segment.
The company attributed the growth in net sales in the spirits segment to good performance in the travel retail and on-trade channels.
In addition, the Koskenkorva vodka brand performed strongly, both in domestic and international markets.
In the industrial segment, net sales growth was driven by higher sales prices in both contract manufacturing and industrial products.
Tennilä added, “During the second quarter, we saw market normalisation continue with a strong recovery of the on-trade and travel retail channels while the market volumes in the monopolies returned to pre-pandemic levels.
“The timing of Easter sales in the second quarter provided a positive phasing impact on the sales of wine and spirits.”
In the second quarter, Anora also completed the acquisition of Denmark’s Globus Wine A/S for DKK 596.4 million (€80 million).
Anora has reiterated its guidance for the rest of the year and expects comparable EBITDA to range between €75 - €85 million in 2022.
Tennilä added, “The operating environment remains unstable, and while it is difficult to foresee all impacts on our business, I believe that our strengths are our stable and resilient business, our extensive brand portfolio covering all segments, and our committed and skilled employees.”
© 2022 European Supermarket Magazine – your source for the latest drinks news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.