Arctic Blue Beverages AB: Year-End Report Jan-Dec 2024

THE PERIOD JANUARY - DECEMBER 2024

• Revenues (Jan - Dec): SEK 5 130 thousand (SEK 6 415 thousand on corresponding period 2023)
• EBITDA: SEK -13 212 thousand (SEK -14 972 thousand)
• EBIT: SEK -14 663 thousand (SEK -17 255 thousand)
• Net result: SEK -16 702 thousand (SEK -18 360 thousand)
• Earnings per share (EPS) -0,64 SEK / share
• Cash and cash equivalents: SEK 764 thousand (31 December 2024)

THE PERIOD OCTOBER - DECEMBER 2024

• Revenues (Oct - Dec): SEK 1 350 thousand (SEK 1 239 thousand on corresponding period 2023)
• EBITDA: SEK -3 893 thousand (SEK -3 093 thousand)
• EBIT: SEK -4 190 thousand (SEK -3 664 thousand)
• Net result: SEK -5 096 thousand (SEK -3 668 thousand)
• Earnings per share (EPS) -0,19 SEK / share

SIGNIFICANT EVENTS DURING OCTOBER - DECEMBER 2024

• Nordic craftsmanship and design took centre stage in Tokyo: Arctic Blue Beverages and Lundia presented a unique design and taste experience.
• The Company launched Arctic Blue webshop, offering direct delivery to seven European countries.
• The Company launched Nightwish Gin, a super-premium gin created in collaboration with the Nightwish band.
• The Company opened a brand-new innovative distillery in collaboration with NoHo Partners, namely the Arctic Blue Showroom Distillery, in Helsinki at Kulttuurikasarmi.
• The Company entered into loan agreements amounting to a total of EUR 190 000.

SIGNIFICANT EVENTS AFTER PERIOD

• The Company expands Arctic Blue webshop, offering direct delivery to five new European countries.
• On January 20, 2025 the Company entered into loan agreements amounting to a total of EUR 90 000.
• On January 27, 2025 the Company entered into loan amendment agreements with shareholders Grizzly Hill Capital Ab and Heino Group Oy to extend the maturity dates of current loan agreements from January 31, 2025, and June 30, 2025, to January 31, 2026. The aggregated unpaid principal balance of these loans amounts to EUR 1,834,078.
• The Company expands Arctic Blue Long Drink portfolio with two new flavors, Arctic Blue Long Drink Laku and Arctic Blue Long Drink Rose, inspired by the brand's successful gin and liqueur portfolio.
• The Company expands global distribution of Nightwish Gin through a strategic partnership with La Maison du Whisky, bringing Nightwish Gin to a wider international audiences.
• The Company's latest product, Nightwish Gin was awarded with a silver medal in the category "Finnish Gins" at UISGE 2025, while the Company released the information that the sales at the Finnish monopoly, Alko will start on February 17.
• On February 17, 2025 the extraordinary general meeting resolved to approve the interest rate on the loans contracted during the period between 2023 and 2024 and up until 20 January 2025 that the Company have entered into with Grizzly Hill Capital Ab and Heino Group Oy.

REPORT HIGHLIGHTS

SHOWROOM DISTILLERY, NIGHTWISH GIN AND E-COMMERCE

"Finally in December 2024 we opened our new and innovative Arctic Blue Showroom Distillery. It brings a whole new addition to our product offering when we get to develop new unique products, organize local product tastings and other events at the Arctic Blue Showroom Distillery in the heart of Helsinki. In the long run, this will increase Arctic Blue's product awareness and increase sales of our products. We are really excited to get everything up to speed during 2025.
Continuing executing our portfolio strategy, we launched a super-premium, Nightwish Gin in collaboration with the Nightwish band. We believe that this could be the hit product of the year 2025. Availability will be built on our newly launched e-commerce platform, enabling customers across seven European countries to easily purchase Nightwish Gin and our whole product portfolio directly. The webshop also serves to B2B customers, such as bars and restaurants, in most of these new markets.
During the fourth quarter of 2024, our sales revenue increased by 21% compared to the corresponding period last year. We have progressed well with our HoReCa strategy in Finland, gaining new important chain listings and successfully implementing our sales campaigns in selected on trade premises. Despite the difficult economic environment, consumers still opted for premium drinks while celebrating the Christmas season and the end of the year. We achieved positive sales development also in the Nordic travel retail sector, driven by the successful Christmas campaign at the Helsinki Airport. Our fourth quarter 2024 sales revenue increased by 22% compared to the previous quarter.
In export market, despite our tightened focus and updated pricing model, our performance did not meet the expectations. This was the main reason why we accelerated our e-commerce activities and started building presence across Europe during the fourth quarter. We believe that current export market activities supported with e-commerce will lower the threshold and make it easier for new customers to purchase our products.
Although overall sales in 2024 was decreased compared to the previous year, we believe that we started to see positive signals in the form of improved sales performance towards the end of 2024. Due to our strong brand, we have been able to maintain our market position and achieve many new HoReCa listings in Finland, also for our new Arctic Blue Long Drink products.
Going towards 2025 we will start to build our offering through our new Arctic Blue Showroom Distillery in Helsinki together with NoHo Partners Plc. Developing our e-commerce capabilities and growing our global reach will a new kind of challenge but a positive one. With such a strong portfolio of multi award winning Arctic Blue products, a novelty product such as Nightwish Gin, and RTD's like Arctic Blue Long Drinks, will give us very good position to gain market share and grow even in a declining market environment", says Valtteri Eroma, CEO of Arctic Blue Beverages

For more information please contact

Valtteri Eroma, CEO
Phone: [phone]
Email: [e-mail]

Petri Hirvonen, CFO
Phone: [phone]
Email: [e-mail]

The company's Certified Adviser is Eminova Fondkommission AB | [phone] | [e-mail]

About Us

Arctic Blue Beverages AB is a Nordic beverage company whose best-known products are the multi-award winning Arctic Blue Gin, Arctic Blue Gin Rose, Arctic Blue Laku and the world's first dairy-free gin-based oat liqueur, Arctic Blue Oat. The company invests heavily into international export and its products are sold in Finland, Sweden, Japan, Australia and more than a dozen other countries. For more information, visit Arctic Blue Beverages webpage https://arcticbluebeverages.com

This information is information that Arctic Blue Beverages is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-19 09:00 EET.