LATVIJAS BALZAMS                                                   31.05.2005



THE TURNOVER OF “LATVIJAS BALZAMS” JSC INCREASES FOR 21% IN THE FIRST QUARTER OF 2005



RIGA, May 31, 2005 – the turnover of “Latvijas balzams” JSC, which is the biggest 

spirit producer in the Baltic states, has reached 14.31 million lats in the first 

quarter of 2005, which exceeds for 21% the indicators of the last year first 

quarter’s results. The profit of the company in the first quarter has reached 156 

thousands lats. 



“In order to continue the facilitation of development speed, the company consistently 

follows the determined development strategy – i.e. it aims to increase the sales of 

“Latvijas balzams” production in export markets,” Rolands Gulbis, the Chairman of the

 Board of “Latvijas balzams”, says. “In the first quarter of this year the total 

amount of realized production has increased for 23%. Simultaneously with the Baltic 

markets we are actively working on the development of export, which requires 

considerable marketing contributions. Therefore in the first quarter of this year 

they are bigger for 315% in comparison with the last year.”



In the first quarter of 2005 the amount of exported production of “Latvijas balzams” 

JSC has increased for 38% and has reached 4.15 millions lats. As regards the execution 

of export orders made by “S.P.I. Group” to the biggest global markets, the amount has 

increased for 48%. 



The production development of “Latvijas balzams” JSC has facilitated the establishment 

of new work places in the company. Compared with the previous year, in “Latvijas balzams” 

JSC there are more than 50 new work places created. 



On “Latvijas balzams” JSC

During the last two years “Latvijas balzams” JSC has considerably increased the 

production of light alcoholic beverages, as well as the execution of export orders 

made by “S.P.I. Group”. Almost 50% of the company’s product assortment are beverages 

with a low content of alcohol. The leading stockholder of “Latvijas balzams” JSC is 

“S.P.I. Distilleries.B.V.”, which holds 87.98% of shares.



Rolands Gulbis, 

Chairman of the Board

“Latvijas balzams” JSC 



Further information: 

Ingars Rudzītis, 

phone: 7814232, 

mob. phone: 6176688, 

e-mail: ingars.rudzitis@sab.lv