FDBusiness.com

Stock Spirits Group, a leading owner and producer of premium branded spirits and liqueurs that are principally sold in Central and Eastern Europe, has reported a 5.2% increase in revenue to €274.6 million, and 3.0% rise on a constant currency basis for the year ended 31 December 2017. Adjusted EBITDA rose4 by 9.7% to €56.3 million and profit for the year was €11.3 million, against €28.4 million in 2016, following exceptional charges relating to Italian business impairment of €14.9 million and Polish deferred tax of €4.7 million.

Total sales volume increased by 6.5% to 13.1 million 9 litre cases during 2017 and the Poland market stabilised, although it remains highly competitive. During the year, Stock Spirits made a 25% Irish whiskey investment in Quintessential Brands and signed mew distribution agreements with Beam-Suntory (Czech and Slovakia) and Beluga Group (Croatia and Bosnia). New product launches included Black Fox premium herbal bitters brand in Czech, and flavour developments for the Saska range in Poland

“Trading has remained challenging in our core Polish market, where there have been several significant changes in the competitive landscape. Against that backdrop, we are pleased to have made tangible progress across a range of strategic initiatives that are aimed at improving the long-term performance of the group,” says Mirek Stachowicz, chief executive of Stock Spirits. “We have a strong portfolio of award-winning brands, an exceptional distribution network, well-invested production facilities, and an outstanding and committed team at all levels of the organisation. These factors, as well as our ongoing restructuring activities and cost control measures, leave us well positioned to achieve sustainable long-term growth and as a result we look to the future with confidence.”