Nordic drinks firm Anora Group posted a 5.3% drop in gross sales for the primary half of 2025, with spirits lagging behind by 6.7%.
For the primary half (H1) of 2025, from January to June, Anora Group’s internet gross sales totalled €324 million (US$378.7m), with spirits accounting for €98.5m (US$115.1m).
The group’s spirits gross sales totalled €105.5m (US$123.3m) for a similar interval in 2024.
In the meantime, within the second quarter (Q2), the group’s complete internet gross sales dipped by 6.6% to €165.5m (US$193.4m).
Anora’s gross revenue for H1 was €135.5m (US$158.4m), down by 2.1% from final 12 months.
The corporate’s comparable earnings earlier than curiosity, taxes, depreciation, and amortisation (EBITDA) had been down by 8.6%, totalling €22m (US$25.7m). Nevertheless, for spirits, EBITDA was up by 0.4%.
Q2 was the primary full quarter overseen by lately appointed CEO Kirsi Puntila, who changed Jacek Pastuszka. She stated headwinds within the interval included shifts in buyer tendencies and poor summer season climate in Could and June, which affected gross sales in its historically sturdy markets.
She added that there have been optimistic developments regardless of the troublesome market atmosphere. “We maintained sturdy value management, leading to diminished working bills,” she stated.
“In Sweden, our focused wine campaigns delivered promising outcomes, and in Finland, we noticed encouraging traction from new launches within the no- and low-alcohol classes. Koskenkorva continued to carry out nicely, notably throughout the liqueur and ready-to-drink segments.”
The group’s distribution community reaches practically 30 international markets.
Norway lone Nordic market in development, Finland nonetheless struggling
In Q2, the corporate’s internet gross sales for spirits declined by 8.4% to €58.5m (US$68.4m).
Anora Group attributed the end result to lately misplaced companions and a poor displaying in Norway, considered one of its major markets.
General volumes within the Nordics for Q2 declined by 1.8%, with wine down by 2.1% and spirits up by 0.1%.
Norway was the one Nordic market in development, rising its gross sales in Q2 by 2.3%. Nevertheless, the group famous this was pushed by the ‘Easter impact’, with the vacation occurring in April 2025, moderately than in March 2024, and is due to this fact not comparable.
Finland continued to hunch, with spirits gross sales on the nation’s alcohol monopoly, Alko, down by 5.9% in Q2.
Within the interval following the implementation of the Finnish Alcohol Act (June 2024 to Could 2025), Alko noticed a ten% decline in its spirits gross sales. This laws bumped the ABV restrict of fermented alcoholic drinks on the market in licensed retailers from 5.5% to eight%.
Extra positively, Anora’s flagship vodka Koskenkorva grew its internet gross sales. The model represents virtually 18% of the group’s gross sales from spirits.
Anora launched lengthy drinks for Koskenkorva earlier this 12 months and reported ‘sturdy double-digit development’ for its RTDs throughout key markets, plus development throughout the vodka’s liqueur phase.
Moreover, though spirits noticed decrease volumes, the division’s gross margin improved to 45.2%, which Anora stated is reflective of ‘the impacts of income and blend administration’.
Up to date technique
Puntila stated her confidence within the enterprise has “solely grown stronger”, however there’s “work forward to succeed in its targets”.
She concluded: “We’re not solely accelerating actions to enhance our monetary efficiency but additionally starting to replace our technique to information us via to 2028.
“Our work on an up to date technique for the subsequent technique interval will probably be divided into the next phases: Match & Repair and Focus. The Match & Repair phases ship brief and mid-term efficiency enchancment over 2025-2026, whereas Focus drives development initiatives as of 2026 onwards.”
Puntila moved to Anora Group after a decade at Pernod Ricard. She is hoping to show the corporate round after a 12 months of decline.
In its market outlook for 2025, Anora Group expects key markets to be ‘comparatively flat’ in contrast with 2025 for each worth and quantity. Its EBITDA is predicted to be €70m-€75m.
In March, the Helsinki-based firm invested in a brand new biomass boiler in its Koskenkorva Distillery, because it pushes in the direction of carbon neutrality.
