Alcohol, Baltic Export, Estonia, Markets and Companies

Liviko reported that the difficult financial situation and the devaluation of local currencies caused a setback on sales in the enterprise’s traditional exports markets – in Russia and in Ukraine. Increasing the sales volume on the other exports markets could not cover the negative effects in Russia and in Ukraine.

Sales to new market helped, however, to achieve a result close to that of the previous year and in the end, the exports sales fell by 5%.

Liqueur Vana Tallinn (Old Tallinn) continued to be the biggest-selling Liviko’s product on exports markets.

In the year 2009, Liviko added to its exports markets in Latvia, Lithuania, Russia, Ukraine and Finland new markets Japan and Georgia.

The audited consolidated sales revenue generated by AS Liviko Group last year amounted to 1.736 billion kroons. The enterprise earned 34 million kroons in operating profits.

“Liviko Group managed to adjust successfully to the economic decline while significantly improve its market position in comparison to the other alcohol enterprises in the Baltic States,” commented the CEO of Liviko Janek Kalvi. “The year 2009 made us stronger on all Baltic markets – in Estonia, Latvia as well as in Lithuania,” he added.

The Group’s financial results of the year 2009 consolidate those of the parent company AS Liviko, of the Latvian subsidiary SIA Liviko as well as the Lithuanian subsidiary Liviko UAB.