Liviko maintained a strong market position in 2024
The consolidated turnover of the Liviko Group in 2024 was €155.2 million, a decrease of 3% compared to the previous year. The group’s consolidated EBITDA for 2024 totalled €6.3 million – down 18% year on year – but met the budget target. Net profit amounted to €3.9 million, marking a 29% drop compared to 2023.
“Liviko boosted the market position and competitiveness of both its own and imported brands across the Baltics, despite a sharp decline in the alcohol market and inflation-related uncertainty among consumers. The year’s results were shaped by the reinforcement of our distribution network throughout the Baltics, a solid performance from our subsidiaries in Latvia and Lithuania, and active efforts to keep the sales of both in-house and imported brands steady in a shrinking market. Liviko continued as the exclusive representative and distributor of the world’s leading premium alcohol brands in the Baltics and continued the groundwork for expanding the market share of its wine portfolio,” said Janek Kalvi, CEO of AS Liviko.
The increase in alcohol excise duty in Estonia, which took effect in January 2024, and advance purchases of in-house products at the end of 2023 had a significant impact on domestic sales. The sales volume of Liviko’s in-house production totalled 5.96 million litres, dropping 7.8% year on year. Turnover from in-house products amounted to €47.8 million, a 5.1% decrease compared to 2023. Turnover from the imported portfolio was €35.1 million, down 1.8% year on year.
In 2024, Liviko paid €42.0 million in alcohol excise duty to the Estonian state. SIA Liviko paid €15.7 million in excise to the Latvian state, and UAB Liviko paid €5.7 million to the Lithuanian state.
Last year, Liviko launched eight new in-house products and expanded its alcohol-free drinks portfolio by introducing Stellar – a mineral-rich water sourced from from deep within the ground in Setomaa. The alcohol-free cocktail category grew across the market, driven by strong sales of Corsaro Aperitivo and non-alcoholic aperitifs from Martini. Liviko products received notable recognition at various international competitions, with Crafter’s Aromatic Flower Gin and Bellingshausen Vodka achieving the best results. Prizes were also awarded to Vana Tallinn Coffee Fusion and the Hõbe vodka range.
In response to shifting geopolitical conditions, Liviko continued efforts to identify new export markets and clients. In 2024, the group entered several new markets: Egypt, Greece, Turkmenistan and Myanmar. New partnerships were also formed in the existing markets of Israel, China, Portugal, Slovakia and the Czech Republic.
Guided by its sustainability strategy, Liviko regularly measures and analyses both its direct and indirect CO2 footprint. The company places particular emphasis on environmental responsibility and has implemented the internationally recognised ISO 14001 environmental management system.
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