The “Piebalgas alus” brewery worked last year with a turnover of 2.213 million euros, or 47% less than the previous year, at the same time the company suffered a loss of 121,245 euros compared to the profit of the previous year, according to “Firmas .lv”.
The management report on the annual balance sheet explains that the decrease in turnover and losses are related to the change of ownership of the company and changes in logistics. Despite the above, in total “Piebalgas alus” sold 3.14 million liters of beverages last year, which is 6% more than the previous year.
Also last year “Piebalgas alus” continued its investments to improve production processes and energy efficiency. In addition, production planning has been improved to be able to respond to fluctuations in demand.
In 2021, a long-term investment program began, investing 183,000 euros in “Piebalgas beer”.
The report on operations also envisages further investments for the development of production and the energy efficiency of production processes. It is also planned to increase production and sales volumes through the parent company.
It has already been reported that in June 2021 AS “Cēsu alus” became the sole owner of “Piebalga alus”.
“Piebalgas alus” worked with a turnover of 4.175 million euros in 2020, which was at the level of 2019, but the company made a profit of 6957 euros, against the losses of the previous year.
The company was registered in 1998 and its share capital is 502,771 euros.
