Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Alcoholic
Wine
Return to: DBR Home | Alcoholic | Wine

Alcoholic drinks company Altia confirms IPO plans

DBR Staff Writer Published 26 February 2018

Nordic alcoholic beverage firm Altia has confirmed plans to launch an initial public offering (IPO).

The company, which operates in the Nordic countries, Estonia and Latvia, is planning to list its shares on the official list of Nasdaq Helsinki.

Altia, which also has production in Cognac, France, manufactures, imports, markets, sells and distributes both own and partner brand beverages and exports alcoholic beverages to about 30 countries. 

The contemplated listing is anticipated to feature a share sale by the State of Finland, Altia’s sole shareholder, as well as an employee offering to the company’s employees, in which it would issue new shares.

Altia aims to improve its possibilities to run its business, increase the transparency and recognition of operations, and offer the general public with an opportunity to invest in the company.

Altia CEO Pekka Tennilä said: “Altia is a brand house and a leading Nordic alcoholic beverage company in the wine and spirits markets. We have a stable market position in our core markets. We have developed our business operations systematically and in line with our strategy, and have turned the Company towards profitable growth.

“It is important for us to develop our Nordic quality brands and bring new, interesting product innovations to the market. If completed, the contemplated Listing would enable strategic flexibility.”

The company also released its results for last year. In 2017, Altia’s net sales were EUR359m. 

Its percentage of sales increased from 11.5% in 2016 to 11.8% last year. And, the profit for last year was €18.3m, compared to €36.1m for 2016. Earnings per share had fallen from €1 in 2016 to €0.51 per share for last year.

Altia said looking ahead to 2018, the Finnish operating environment is in an interesting development phase.

The new alcohol act, which came partly into force in January 2018, enables the sale of ethanol-based ready-to-drink beverages in the Finnish retail channel and thereby opens new opportunities for Altia.

 


Image: Altia’s CEO Pekka Tennilä. Photo: Courtesy of Altia Plc.