New partnerships, increase in shares and profitability in the midst of a pandemic

2020 was an extremely difficult year with very adverse conditions due to the pandemic with particularly adverse effects on the spirits industry. However, the fact that Ambix managed to maintain the profitability of its activities is considered particularly important.

Sales including E.F.K. amounted to € 87.4 million compared to € 125.6 million in the previous year, a decrease of 30% due solely to the recession due to the COVID-19 pandemic. Sales after the deduction of VAT amounted to € 58.5 compared to € 87.3 of the previous year, recording a decrease of 33%. The net results before taxes remained positive and amounted to profits of € 1.2 million compared to profits of € 5.8 of the previous year 2019.

A characteristic element, apart from the fact that the current year was also profitable, is the very healthy picture presented by the Company’s Balance Sheet, with net borrowing becoming negative as the cash available for another year continues to exceed the loan obligations. In addition, short-term liabilities are exceeded by 2.8 times the current assets, creating a solid robustness index for the achievement of the future strategies of the plans.

Mr. Giannis Artinos, General Manager of AMBYX commented: “The impressive course of the last 6 years that brought us to the top of the industry, as well as the financial strength recorded in the previous balance sheets, had laid a solid foundation to meet the challenges that arose Thus in 2020, and despite the very adverse conditions for the spirits industry, we continued our investment plan thus not only managing to significantly strengthen our share, reaching 25.3% or +2.4 points We have adapted to the new operating conditions, developed operational tools and entered into new partnerships with iconic brands such as Belvedere super premium vodka, Veuve Clicquot champagne, Jose Cuervo tequila and a host of new products.

For the first eight months of 2021, the total consumption of alcoholic beverages from the beginning of the year, shows a significant recovery and is at + 45% compared to the corresponding period last year and only -3% compared to 2019. This was significantly contributed by the significant improvement of tourism. Our sales course shows a recovery of + 50% and in fact in comparable products has exceeded the turnover of 2019 by + 10%. “This event fills us with optimism for the future and confidence for an even better and faster return to pre-pandemic sizes.”