Annual Report 2020

Welcome to read our Annual Report 2020. The Annual Report consists of the Business Overview, the Report by the Board of Directors and the Non-financial Statement, the Sustainability report, Governance statements and Financial statements.

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Download the full Annual Report 2020

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CEO's review

Last year was exceptional for us with the outbreak of COVID-19 into a global pandemic and the challenges it brought to our business. Yet, we were able to manage the situation well, and I am very proud of the great achievements our employees have reached and of the strong commitment they have shown.

In 2020, Altia’s net sales decreased by 4.4% in constant currencies. The decline was largely driven by the negative impacts of COVID-19 restrictions on travel retail, exports and ontrade sales channels and contract manufacturing volumes. Following these restrictions, consumers have shifted purchases to the monopolies. Our profitability improved from the previous year with comparable EBITDA increasing by 17.1% to EUR 52.4 million.

Read the CEO's review

Sustainability

Altia’s company purpose, “Let’s drink better”, stands for a sustainable brand experience. We strive to develop a modern and responsible Nordic drinking culture. We have also invested heavily in producing the most responsible grain spirit in the world.

Sustainability is incorporated into our refined strategy, which we published in February 2020. As a result, sustainability can now be seen in everything we do. Our sustainability work follows our Sustainability Roadmap 2030, which shows our long-term sustainability targets and is divided into four focal areas: Our Distillery, Our Drink, Our Society and Our People.

Read about Altia's sustainability work in 2020

Report by the Board of Directors

Financial statements

Corporate governance

Strategy

Our strategy is built on our two core strengths: we create unique brand experiences and are forerunners in sustainability. We have crystallize this in our purpose as a company – Let’s Drink Better.

Trends and innovations

The consumer is the number one compass that steers all our activities. Our consumer understanding has proven instrumental during the exceptional year of 2020.

Brands

We build our Nordic brands in a way that ensures relevance and value for new generations. We have a leading market position in spirits and wine in the stable and profitable Nordic market.