Latvia: Cesu Alus brewery’s turnover increases 14.7%

Latvia’s Cesu Alus brewery turned over 54.267 mln in 2017, up 14.7% against a year before, while its profit nearly doubled to EUR 5.516 mln, informs LETA.

The company’s beer sales rose 13.5% year-on-year to 76.3 mln litres in 2017, Cesu Alus management said, adding that growth was recorded in all beverages segments, with the sales of fermented beverages, water and non-alcoholic beverages growing at the fastest pace.

According to the company’s management, Cesu Alus accounted for 68% of Latvia’s total beer output last year.

In 2017, the brewery’s energy management system was certified to ISO 50001 and the company continued to implement its long-term investment program, spending EUR 1.67 mln on production upgrades.

In 2016, Cesu Alus generated EUR 47.314 mln in turnover and made a EUR 2.785 mln profit.

With a 99% stake in the company’s capital Finland’s Olvi is the key owner of Cesu Alus.

09 August, 2018