AS “Amber Latvijas balzams” has announced the unaudited results of operations for the year 2025.
The company’s unaudited net turnover in 2025 reached 74.5 million euros, which is 4.8% less than in 2024. The total sales volumes (in terms of 9Lcs) in 2025 are 0.62% higher than in 2024. The increase in the sales volume is related to the strategic decisions made by the Stoli Group regarding the development of the Stoli brand, optimization of the supply chain, affecting the order volumes in the short term.
The gross profit in the reporting period is 13.3 million euros, which has decreased by 2.9 million euros (-18.2%) compared to 2024. The gross profit indicator was negatively affected by changes in sales volume and pricing methodology, which were partially offset by a reduction in the costs of the most important raw materials and materials used in the production process, as well as a reduction in production-related costs within the implemented cost optimization programs.
The profit before taxes for 2025 is 2.5 million euros, which is a decrease (by 1.5 million euros) compared to the corresponding indicator in 2024 (profit of 4.1 million euros). The ratio of profit before taxes to turnover in the reporting period of 2025 is 1.7%, (2024: 3.4%). In 2025, the Company worked with profit, but at the same time AS “Amber Latvijas balzams”, by attracting new accounting and financial specialists, conducts an additional analysis of the savings made in the 2025 and previous reporting periods for debtors’ obligations.
It is expected that sales volumes will decrease in the next six months due to the progress of the insolvency process of one of the most important distributors of AS “Amber Latvijas balzams” products in the USA.
Despite the efforts of JSC “Amber Latvijas balzams” and the maintained dialogue with the State Revenue Service (SRS) regarding the excise duty compliance schedule, in January 2026, the tax administration made a decision to seize the Company’s current accounts. The aforementioned decision created insurmountable obstacles for further operational economic activity in the standard mode, the company states.
In order to ensure the continuity of operations and to protect the interests of creditors, JSC “Amber Latvijas balzams” submitted an application to the Riga City Court on January 30, 2026 to initiate a legal protection process (TAP). The court approved the mentioned application on February 5, 2026, starting the legal protection process, within the framework of which the Company continues to work on the restructuring of liabilities and stabilization of operations.
Despite the process of legal protection, the company works to maintain its competitiveness, and a series of measures are continuously taken to promote the efficiency of production processes and reduce costs.
