Amber Latvijas Balzams in red amid volume slide

Amber Latvijas Balzams moved into the reddish successful the archetypal 4th amid a slump successful volumes.

The company, which is cardinal to the fiscal problems astatine the wider Amber Beverage Group, booked a first-quarter nonaccomplishment of €1.4m ($1.6m) for the opening 3 months of 2026, compared to a nett of €800,000 a twelvemonth earlier.

Amber Latvijas Balzams posted a 29.6% autumn successful turnover to €11.1m connected the backmost of a much than 36% driblet successful volumes.

The publically listed radical – successful which Amber Beverage Group owns a bulk involvement – pointed to “strategic decisions made by Stoli Group regarding the improvement of the Stoli marque and proviso concatenation optimisation, which had a short-term interaction connected bid volumes”.

Stoli is owned by SPI Group Holding, itself a “major” shareholder successful Amber Beverage Group.

In 2025, Amber Latvijas Balzams’ gross fell 4.8% to €74.5m, portion nett net dropped 39% to €2.5m.

In February, a tribunal successful Riga approved a determination to commencement “legal extortion proceedings” for Amber Latvijas Balzams to alteration the institution restructure its liabilities arsenic cash-flow pressures deed the business. The determination followed “external challenges” that included developments involving Stoli’s operations successful the US, Amber Latvijas Balzams’ largest customer. That affected Amber Latvijas Balzams’ quality to wage creditors.

The tribunal had acceptable a deadline of 5 June for the support of an “action plan” nether the extortion proceedings. The deadline has been extended to 5 October.

Meanwhile, successful April, Amber Beverage Group, which owns conscionable nether 90% of Amber Latvijas Balzams, opened “judicial reorganisation proceedings”, securing a moratorium connected its indebtedness obligations.

The moratorium, granted by a tribunal successful Luxembourg, is effectual until 24 August and could besides beryllium extended.

The determination followed a ceremonial lawsuit of default successful February, sparked by the nonaccomplishment of Amber Beverage Group to repay bondholders wrong a required 20-business-day window.

Amber Latvijas Balzams manufactures much than 100 Amber Beverage Group brands.

The institution has 2 two plants successful Riga making products including spirits and sparkling wine.

Amber Beverage Group is acceptable to people its ain first-quarter results astatine the extremity of July.

"Amber Latvijas Balzams successful reddish amid measurement slide" was primitively created and published by Just Drinks, a GlobalData owned brand.

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