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Meanwhile, the company’s beer sales increased by 7% to 2.254 mln liters last year, with sales of draft beer rising 15%.

Representatives of Valmiermuizas Alus noted that last year 5% of the beer made at the brewery was sold in export markets, including Estonia, Lithuania, Finland, Sweden, Denmark and Ireland and that the company planned to raise the share of export sales to 10%, focusing primarily on the Baltic Sea region and Scandinavia.

Valmiermuizas Alus has no plans to expand in terms of production volumes. Instead, the brewery intends to develop a wide variety of beer flavors, said Valmiermuizas Alus head Aigars Rungis.

The company’s representatives also noted growing demand for beer in 0.33-liter bottles. In 2018, demand for beer in the small bottles jumped by 77% to 120,000 liters.

Valmiermuizas Alus closed 2017 with EUR 4.605 mln in turnover, up 9% against a year before, and a profit of EUR 127,564, which contracted by 30.2% from 2016.

Valmiermuizas Alus, registered in 2005, belongs to Valmiermuizas Ieguldijumu Fonds in which Rungis owns 60%, a 24% stake belongs to Austria’s investment fund Industrieliegenschaftenvervaltungs and 16% to German company Thinkflink GmbH.