Anora Group sees strong Q3 results

Anora Group sees strong Q3 results

Koskenkorva Vodka proprietor Anora Group has reported a “historic” third quarter following the merger of Altia and Arcus in September.

Altia Arcus Anora
Anora Group’s portfolio contains Koskenkorva Vodka

Anora Group noticed reported web gross sales develop by 31.6% throughout its 2021 third quarter, in contrast with the identical interval in 2020, to achieve €165 million (US$185m).

The corporate’s Finland and Exports section achieved web gross sales of €30.7m (US$34.5m), whereas the Scandinavia sector reached web gross sales of €29.3m (US$32.9m).

Pekka Tennilä, Anora Group CEO, commented: “We had a historic and thrilling third quarter with the completion of the merger of Altia and Arcus on 1 September when Anora was shaped.

“Integration has began nicely and is progressing in keeping with plan and on schedule. We’re dedicated to the beforehand introduced annual EBITDA [earnings before interest, taxes, depreciation and amortisation] web synergy goal of €8-€10 million and we proceed to count on that 80% of the online synergies are to be realised inside two years.”

Tennilä famous that each Altia and Arcus carried out “very nicely” throughout Q3.

For illustrative functions, the corporate shared that Altia reported web gross sales development of two.7% throughout the third quarter to achieve €89m (US$99.9m).

In the meantime, Arcus reported web gross sales development of 4.9% to €79.4m (US$89.1m).

Tennilä added: “Within the former Altia, web gross sales in Q3 improved, pushed by the expansion in spirits gross sales in Finland and exports, and Scandinavia segments, and supported by beneficial foreign money trade charges.

“In Altia Industrial, web gross sales declined barely regardless of the great restoration of contract manufacturing volumes.

“Within the former Arcus, the comparability towards Q3 20 is especially robust because of the Covid-19 impact. The reported web gross sales development in Q3 was supported by beneficial foreign money trade charges.

“Web gross sales in wine within the massive Swedish and Norwegian markets had been ultimately yr’s degree, whereas web gross sales in spirits had been barely beneath final yr’s degree.”

Anora Group stated it might not be offering steerage for the rest of 2021 as a result of as societies return to regular following the Covid-19 pandemic, the on-trade and journey retail are anticipated to develop their share of gross sales.

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