Amber Latvijas Balzams moved into the pink within the first quarter amid a hunch in volumes.
The corporate, which is central to the monetary issues on the wider Amber Beverage Group, booked a first-quarter lack of €1.4m ($1.6m) for the opening three months of 2026, in comparison with a revenue of €800,000 a yr earlier.
Amber Latvijas Balzams posted a 29.6% fall in turnover to €11.1m on the again of a greater than 36% drop in volumes.
The publicly listed group – during which Amber Beverage Group owns a majority stake – pointed to “strategic choices made by Stoli Group relating to the event of the Stoli model and provide chain optimisation, which had a short-term influence on order volumes”.
Stoli is owned by SPI Group Holding, itself a “main” shareholder in Amber Beverage Group.
In 2025, Amber Latvijas Balzams’ income fell 4.8% to €74.5m, whereas web revenue dropped 39% to €2.5m.
In February, a courtroom in Riga accepted a transfer to start out “authorized safety proceedings” for Amber Latvijas Balzams to allow the corporate restructure its liabilities as cash-flow pressures hit the enterprise. The transfer adopted “exterior challenges” that included developments involving Stoli’s operations within the US, Amber Latvijas Balzams’ largest buyer. That affected Amber Latvijas Balzams’ skill to pay collectors.
The courtroom had set a deadline of 5 June for the approval of an “motion plan” below the safety proceedings. The deadline has been prolonged to five October.
In the meantime, in April, Amber Beverage Group, which owns slightly below 90% of Amber Latvijas Balzams, opened “judicial reorganisation proceedings”, securing a moratorium on its debt obligations.
The moratorium, granted by a courtroom in Luxembourg, is efficient till 24 August and is also prolonged.
The transfer adopted a formal occasion of default in February, sparked by the failure of Amber Beverage Group to repay bondholders inside a required 20-business-day window.
Amber Latvijas Balzams manufactures greater than 100 Amber Beverage Group manufacturers.
The corporate has two two crops in Riga making merchandise together with spirits and glowing wine.
Amber Beverage Group is about to publish its personal first-quarter outcomes on the finish of July.
“Amber Latvijas Balzams in pink amid quantity slide” was initially created and printed by Simply Drinks, a GlobalData owned model.
