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Anora Group sees strong FY results

Nordic drinks company Anora Group has released its full-year 2021 results, posting a reported net sales year-on-year increase of 39.7%.

Altia Arcus Anora
Koskenkorva owner Altia and Arcus completed their merger to become Anora Group in 2021

The Koskenkorva Vodka owner posted a sum of €478.2m (US$525m) for its full-year 2021 results, which is an increase of 39.7% compared with its 2020 full-year results.

After revealing a “historical” third quarter in November 2021, the Koskenkorva Vodka owner also saw net sales reach €205.6 million (US$225m) in its fourth quarter, an increase of 93.1% compared with the same period in 2020.

Pekka Tennilä, Anora Group CEO, commented: “2021 was a historical year for us. After the closing of the merger in September, we have successfully re-structured our organisation and continued to serve our partners and customers well.”

In September last year, a merger  between multiple Nordic drinks groups saw Altia absorb Arcus to become Anora Group, with Arcus dissolved.

In Q4, Altia Industrial’s net sales clocked in at €29.9m (US$32.8m), while the Arcus segment’s net sales were €90.7m (US$99.6m).

Meanwhile, the company’s ‘Finland and exports’ segment achieved net sales of €37.7m (US$41.4m), while the Scandinavia sector totalled net sales of €47.2m (US$51.8m).

Tennilä also noted that Covid-19 impacted Anora’s market environment in a “significant” way, but the full-year results were “supported by extraordinary high sales volumes” in monopoly stores.

He added: “In Q4, we saw the wine and spirits market returning to normal. Our net sales on a pro forma basis grew, supported by the gradual opening of the restricted sales channels and the higher contract manufacturing volumes.

“In this quarter, we were also faced with a historically sharp increase in input costs, with specifically the cost of barley reaching a record-high level.

“Comparable EBITDA [earnings before interest, taxes, depreciation and amortisation], on a pro forma basis, declined mainly due to higher input costs and more investments in marketing of our brands.”

The group’s expected EBITDA for 2022 is between €75-85m (US$82-93m).

“In 2022, we expect the volumes in the monopolies to be significantly lower than in 2020 and 2021 as the lifting of Covid-19 restrictions result in higher on-trade, border trade and duty-free sales, and input costs to remain at a high level,” Tennilä said.

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