Altia launches a new strategy to improve profitability in response to changes in the operating environment

Press Release   •   Sep 02, 2014 09:05 GMT

Altia Plc, a leading wine and spirits company offering quality brands in the Nordic and Baltic countries, launches a new strategy to achieve major improvements in profitability by the year 2016. Altia aims at creating new growth by strengthening its core brands, investing in product development and renewing the sales channel strategy.

The efficiency enhancing programme designed to save EUR 20 million by the end of 2015 also contributes to the aim of improved profitability.

”We need to take measures to improve long-term competiveness in the face of stiff market competition and quick changes in consumer behaviour patterns. Altia has got all the resources it takes to succeed: a leading position in the Nordic market and the Baltics, strong product brands and the best expertise in the field, but we need to commit to the efficiency enhancing programme,” says Altia’s Chief Executive Officer Pekka Tennilä.

The possible changes will have implications in terms of the number of personnel. Negotiations regarding these changes to be conducted in accordance with the local legislation will begin in Finland, Sweden and Norway. The negotiations will affect salaried and senior salaried employees. The maximum need for staff reductions is expected to be 120, with Finland accounting for a maximum of 50 and Sweden for a maximum of 35. Additionally, talks are underway with the workers at the Rajamäki plant regarding the use of flexible workforce.

“The foreseen measures are extensive. Unfortunately, we are compelled to take measures that will affect Altia’s personnel in order to secure the company’s future. As far as the measures called for by the new strategy are concerned, we seek to keep the impact on personnel to a minimum”, Tennilä adds.

Altia employs around 1,000 people in six countries with employees in office and senior executive positions accounting for about a half of the total.

Additional information:

Chief Executive Officer: Pekka Tennilä

Calls on 2 September between 12.00–15.00 CET: Communications Director Anu Salmi-Savilampi, tel. +358 40 721 8373 

Altia is a leading wine and spirits company offering quality brands in the Nordic and Baltic countries. Altia’s own brands include Blossa, Chill Out, Explorer, Grönstedts, Jaloviina, Koskenkorva, Larsen, O.P. Anderson, Renault, Xanté and Skåne Akvavit. Altia’s partner brands Codorniu, Drostdy-Hof, Jack Daniel’s, Bowmore, Nederburg, Ravenswood and Robert Mondavi.