A drink in a glass with some orange peel and juniper.

Annual Report 2019

Welcome to read our Annual Report 2019. The Annual Report consists of business overview, report by the Board of Directors and non-financial statement, sustainability section, governance statements and financial statements.

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CEO’s review

CEO Pekka Tennilä: “Looking back at 2019, I am pleased to see our net sales and profitability improving. The Scandinavia segment, especially Sweden, showed strong sales and profitability improvement, supported by another successful Blossa season. We finished our sustainability roadmap, with ambitious targets set for the future.

In 2019, our net sales grew by 0.6% to EUR 359.6 (357.3) million. Net sales grew by 1.5% in constant currencies. Net sales of spirits and wine combined were at the previous year’s level, and we saw slight growth in constant currencies. In the monopoly markets, our spirits sales grew in value in all three markets – Finland, Sweden and Norway.

Growth in wine was driven by a strong performance in Sweden. In the Altia Industrial segment, net sales growth was driven by higher prices and good volume development in industrial products.

Read the full CEO’s review

Sustainability

In 2019, we strengthened our long-term commitment to responsibility by publishing the Sustainability Roadmap extending to 2030. The Roadmap includes ambitious numeric long-term goals, which are based on the UN’s sustainable development goals (SDG). The roadmap is divided into four focal areas of sustainability – Our Distillery, Our Drink, Our Society and Our People – and it puts emphasis on the circular economy and carbon-neutral production in our sustainability work.

Other key events were calculation of the carbon footprint of one of our key products, inclusion of the Koskenkorva distillery on Sitra’s list of the most interesting companies in the circular economy as well as launch of a new development programme for occupational safety.

Annual Report 2019 Board report cover page

Report by the Board of Directors

Financial statements

Governance

Strategy

Our refined strategy is built on our two core strengths. We are the Nordic distillery that masters the sustainable production of high-quality grain-based spirits, and we provide the best route-to-market through distribution and channel execution for our brands and our partners.

Bottle of Blossa Sparkling & Spices and three champagne glasses

Trends and innovations

Innovation and consumer centricity create new growth opportunities. One of the key success factors for our brands and innovations is strong professional product development.

Chill Out wine bottles made of PET plastic

Operating environment

We operate in the wine and spirits markets in the Nordic and Baltic countries, as well as in travel retail in the Nordics. These constitute our home market.

Financial information