Anora Group Oyj

Anora Group Plc announced changes in its Executive Management Team. Risto Gaggl, the Senior Vice President of the Industrial segment, will step down at the end of 2024 and be succeeded by Hannu Vähämurto starting 1 January 2025. Hannu, who has been with Anora since 2011, currently serves as Director of Industrial Products. Additionally, Johanna Sundén, Chief HR Officer, will also manage Group Communications as Chief People and Communications Officer. Thomas Heinonen, Group General Counsel since 2012, will join the Executive Management Team. Anora Group is a leading Nordic wine and spirits company, known for its sustainability efforts and extensive market reach.

Anora Group Plc released its Half-year Report for January-June 2024, highlighting an improvement in comparable EBITDA in Q2 due to a higher gross margin. Key points include: - Q2 comparable EBITDA grew by 16.9% to EUR 15.2 million, driven by margin accretive businesses, price increases, cost efficiencies, and lower raw material prices. - Net sales declined by 3.1% to EUR 177.1 million, mainly due to a decrease in the Industrial segment, while Wine and Spirits segments saw slight sales increases. - The Wine segment showed a significant gross margin improvement and market leadership in Finland following a legislative change allowing the sale of up to 8% ABV alcoholic beverages in grocery stores. - The Spirits segment saw growth in Sweden and Norway but declines in Finland, Baltics, and Global Travel Retail. - The Industrial segment was negatively impacted by lower production volumes and price erosion in side-product sales. - Gross margin improved to 42.3% of net sales, and gross profit increased by 5.5% to EUR 74.8 million. - Anora reduced net debt leverage, with cash and cash equivalents at EUR 141.1 million and net debt at EUR 200.7 million. - For 2024, Anora expects comparable EBITDA to be EUR 75-85 million, with market conditions remaining challenging and Finnish monopoly sales expected to decline temporarily. Anora will publish its next interim report for January-September 2024 on 7 November 2024. CEO Jacek Pastuszka and CFO Stein Eriksen will present the report on 20 August 2024 at 11:00 am EEST via a Microsoft Teams Meeting. Further details and the complete report are available on Anora's website.