ading Central and Eastern European branded spirits producer, has reported its first year-end results since listing on the main market of the London Stock Exchange in October 2013.Revenue for the year ended 31 December 2013 increased 16.4% to €340.5 million and profit for the year was €8.9million against €26.2million in 2012. Operating profit before exceptional costs rose 7.5% to €62.8million. Adjusted EBITDA increased 22.3% to €83.7 million.
With core operations in Poland, the Czech Republic, Slovakia,Italy, Croatia and Bosnia & Herzegovina, Stock Spirits Group also exports to more than 40 other countries worldwide. The group holds the market leadership positions in spirits in bothPoland and the Czech Republic, where it has invested in be state of the art production facilities, and is one of the world’s leading vodka producers. This includes having the number one leading vodka brands in Poland, Italyand the CzechRepublic.
Total volume was up 11.4% in 2013 to 17.4 million 9 litre cases as Stock Spirits Group launched several significant new product including new flavours of Lubelska, Stock Prestige and Bozkov during the year. Indeed, Stock Prestige became the group’s sixth ‘millionaire’ brand selling over 1 million 9 litre cases in 2013.
Chris Heath, chief executive of Stock Spirits Group, comments: “We have completed a successful IPO whilst delivering strong performances in all our key markets, and despite challenging economic conditions. During the year we undertook two significant strategic initiatives to position the business for further growth, with both already producing encouraging early results. Our ‘Project Polar’ project in Poland has seen the successful installation of 20,000 branded refrigerators in traditional retailer stores across the country; and we have taken a significant step forward towards our goal of broadening our premium product offering through the exclusive distribution agreements with Beam in Poland and Diageo in the Czech Republic.”
He continues: “The 2014 year has started well, despite the challenges posed by the Polish Excise Duty increase, and the Group is well placed to capitalise on the opportunities available in the Central and Eastern European Region. We view the future with confidence.”
