Amber Beverage FY sales rise 17.9%
Moskovskaya Vodka owner Amber Beverage Group (ABG) saw net sales grow by 17.9% in 2022, driven by its Tequila and Irish whiskey brands.
Luxembourg-based ABG reported sales of €365.8 million (US$390.8m) for 2022, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) exceeded the company’s expectations at €42.9m (US$45.8m).
Amber Beverage Group CEO Jekaterina Stuģe said: “The year 2022 has been a record year for the entire Amber Beverage Group.
“Our global strategy, Sirius25 — named after Sirius, one of the brightest stars in the night sky — is continuing to work flawlessly. It defines our approach to ABG’s brand development in domestic and international markets, outstanding management of third-party brands, and excellence in production processes.”
The group highlighted ‘strong growth’ for its agave spirits portfolio, which includes Rooster Rojo Tequila and Kah Tequila.
The company’s Walsh Whiskey Irish whiskey brands also performed well, including The Irishman and Writer’s Tears. The former was given a €500,000 (US$564,400) rebrand in February last year.
Moskovskaya Vodka also increased by 16% as the group focused on the brand’s European provenance.
The company entered new countries and grew its existing markets in Europe, the Middle East and Africa, and global travel retail with a total value growth of 63%.
New markets for the company include Algeria, Bahrain, Benelux, Ireland, Israel, Jordan, Nigeria, Poland, Serbia, Sweden, Tunisia, Turkey, and the UAE.
ABG called its full-year performance a ‘strong achievement’ in the backdrop of global challenges for producers and distributors.
Among the challenges highlighted by ABG were an increase in prices for raw materials and energy, the availability of materials, the need to restructure supply chains to meet production plans, and the need to review sales prices.
The group has improved the efficiency of its production processes to deliver products with a ‘competitive cost advantage’.
Stuģe said the company is confident in reaching its goal of becoming one of the top 10 spirits industry players in the world.
She added: “The global forecast for spirits in absolute figures without adjustments to inflation foresees stable growth of the industry through to 2025.”