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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 22:27

Cido Grupa has launched exports to the United Arab Emirates this year

BC, Riga, 01.12.2016.Print version
The Latvian beverage producer Cido Grupa has launched juice exports to the United Arab Emirates this year, thus expanding the assortment of products which is being exported to this region, the company's spokeswoman Inese Lielpinka told LETA.

According to her, this is one of the most exotic markets which value the quality and taste of Latvian made juices. The company exports seven different types of juices to the UAE under the Cido brand - pomegranate, mango, cranberry, tomato, orange, apple and grapefruit.


The company informs that exports reached 21% of the company's overall sales volumes last year. Most of the exports, or 63%, went to Lithuania and Estonia, 25% to other European countries, and 12% to Russia and countries outside Europe.


The company exports its products to about 20 different countries, including Swede, Denmark, Great Britain, Ireland, Germany, Poland, Italy, Spain, Malta, Israel, Ukraine, Russia, Belarus, Azerbaijan, the United States, Canada, China and the UAE.


As reported, Cido Grupa beverages producer saw its turnover drop 3.93 percent and suffered a loss of more than EUR 1 mln last year, according to information available at Firmas.lv.

The company reported EUR 53.73 mln in 2015 turnover as compared to EUR 55.93 mln a year before, while its annual loss expanded to EUR 1.17 mln from EUR 581,334.


Cido Grupa, founded in 1994, is the leading beverage maker in the Baltic states and has a share capital of EUR 1.117 mln. Its largest shareholder is Denmark's Royal Unibrew, holding 99.99% of shares.


The company produces juice, nectars, juice drinks, as well as natural mineral water, drinking water and beer.






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