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Drinks

Drinks Group Anora Lowers Profit Guidance

By Steve Wynne-Jones
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Drinks Group Anora Lowers Profit Guidance

Nordic drinks group Anora has lowered its full-year profit guidance for full-year 2023, with the company now expecting comparable EBITDA for the year to be between €66 million and €69 million.

This is lower than the €70 million to €78 million that the group previously forecast, with Anora saying that its wine segment has seen weaker profitability than was previously forecast, while it also reported 'lower monopoly sales' in the fourth quarter.

For the full year 2022, Anora’s comparable EBITDA stood at €76.1 million.

Streamline Operations

In November, the group announced that as part of efforts to improve profitability, it will be developing its operational model and structure.

It plans to streamline its operations across all its business segments – Wine, Spirits and Industrial – with changes implemented in each set to yield savings in the range of €3 million to €4 million. Some 40 employees are set to lose their jobs as a result of the move.

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In a statement, Anora said that the objective of these changes is to reinforce the commercial emphasis on growth categories, simplify operations, and identify additional synergies in alignment with the company's 2030 strategy. The proposed alterations encompass commercial operations in Anora's Wine and Spirits segments in the Nordic countries, as well as Anora Industrial's operations in Finland.

Based in the Nordic region, Anora Group exports to over 30 markets worldwide, with its business also including Anora Industrial and logistics company Vectura. In 2022, Anora's net sales amounted to €703 million, and the company currently boasts approximately 1,200 employees. It announced the appointment of a new chief executive in October.

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