Stock Spirits Group's revenue growth in the last 12 months

Stock Spirits Group announced that its revenues increased by 9.1% during the year, thanks to, among others, sales in Poland. Stock Spirits increased its sales volume by 1.8% in the 12-month period to September 30, and revenues increased 9.1% to €341 million.

Mirek Stachowicz, CEO of Stock Spirits, said in an interview for The Spirits Business: „We are pleased to have delivered a resilient performance against the backdrop of a hugely challenging year. In H1, we successfully navigated excise tax increases in our largest markets of Poland and the Czech Republic. In H2, we prioritised protecting and supporting our employees, customers, suppliers and the communities around us in the face of the Covid-19 pandemic.”

The group's results were mainly influenced by very good sales in Poland, where revenues increased by 15.1%. Revenue for the 12-month period in Poland amounted to EUR 193.6 million. According to the data of the Stock Spirits group, as much as 30% of the increase came from the whisky category.

Stock Spirits also recorded an increase in the Czech Republic, where full-year revenues increased from EUR 81.3 million to EUR 87.3 million. In Italy, total spirit drinks sales increased by 7.8% by value and by 7.9% by volume in the off-trade segment. However, the value of the overall market fell 2.3% as a result of the constraints caused by the pandemic. Other market results published by the Stock Spirits group include Slovakia, Croatia and Bosnia and Herzegovina with its export activities, Baltic Distillery in Germany and headquarters in the UK. Revenue for the 12 months in these markets was EUR 29.5 million, compared with EUR 32.5 million in the prior period.

Stock Spirits CEO attributes the company's good performance during the pandemic primarily to a strategy focused on local markets.

- Our strategy of sourcing and manufacturing nearly all of our products locally ensured that there has been no disruption to our operations. In addition, our longstanding focus on the off-trade served us well during the closure of the on-trade as a result of lockdowns – said Mirek Stachowicz.

Source: www.thespiritsbusiness.com