Higher Sales In Q4 Fails To Offset FY Belvedere Decline
Belvedere, the alcoholic beverage company based in France, has reported falling sales during 2013. A…Belvedere, t
he alcoholic beverage company based in France, has reported falling sales during 2013. A positive final quarter for the drinks group wasn't enough to offset the damage that was done by a weak H1.Sales for the 2013 fiscal year stood at €860.4 million, down 3.9% from €894.9 million in the year previous.
Belvédère's president & CEO, Krzysztof Trylinski, said that, while last year's turnover had been penalised, most notably in Poland for excise duty, the group had nevertheless "realised the objective of restructuring its debt and intends "to become, from 2014 on, a leader in the wines and spirits segment in maintaining a high level of innovation".
Belvedere said its sales fell 5.8% in Poland, a market which is 58.7% of total turnover and where its vodka products are extremely popular. In France, where 29.4% of annual turnover is achieved, sales were up 1.1% over the year despite a contraction in the spirits market.
In the United States and Denmark, which represent 2.8% and 0.6% of annual turnover, sales were down 15.1% and 47.8%.