Anora Group Oyj

Anora Group Plc's Shareholders' Nomination Board has made proposals for the Annual General Meeting scheduled for April 15, 2025. They suggest the Board of Directors should have seven members, with six current members being re-elected and Rebecca Tallmark joining as a new member. Tallmark has a background in business development and strategy, and is deemed independent of the company and its major shareholders. Michael Holm Johansen and Jyrki Mäki-Kala are proposed to be re-elected as Chairperson and Vice Chairperson, respectively. The Nomination Board recommends shareholders consider the Board composition as a whole and emphasizes diversity and competence in line with corporate governance standards. Anora's employees have also elected a representative to the Board. Proposed remuneration for Board members includes annual fees and meeting fees, with an increase for meetings outside the member's country. The Nomination Board encourages Board members to hold shares in Anora. Anora is a leading Nordic wine and spirits brand with significant global exports, and its shares are listed on Nasdaq Helsinki.

Anora Group Plc's interim report for January to September 2024 highlights improvements in gross margins across all segments in Q3, despite a negative impact on comparable EBITDA due to lower beverage sales volumes. The company's comparable EBITDA for 2024 is projected to be between EUR 65-70 million, compared to EUR 68.2 million in 2023. CEO Jacek Pastuszka noted efforts to enhance the beverage business's marginality, manage pricing and revenue, and reduce net working capital. The gross margin improved for both Wine and Spirits, although the overall gross profit declined by 17.6% due to a one-off capital gain in the previous year. A sharp volume drop in monopolies, particularly in Finland, affected the bottom-line performance, leading to lower full-year guidance. Net sales in Q3 decreased by 6.0% to EUR 162.7 million, primarily due to reduced volumes in Wine and Spirits. The company capitalized on legislative changes in Finland to launch new wine products in grocery stores, gaining a leading position in the market. The Spirits segment saw a decline in monopoly markets, except for growth in Sweden. The Industrial segment experienced lower sales due to decreased ethanol prices and production volumes but improved contract manufacturing. Anora reduced its long-term debt by EUR 50 million, and its net interest-bearing debt ratio improved. The company plans to focus on improving beverage business margins and restoring net sales growth in Wine and Spirits. The market outlook for 2024 anticipates slightly lower volumes due to economic challenges, with Finnish monopoly sales expected to decline temporarily. Anora will release its financial statements for 2024 on 12 February 2025.

Anora Group Plc announced that its CEO, Jacek Pastuszka, has expressed his intention to retire and resign from his position once a new CEO is appointed. The Board of Directors will begin the recruitment process for a new CEO. Anora is a leading wine and spirits brand in the Nordic region, known for its sustainability initiatives. The company operates globally, exporting to over 30 markets, and includes Anora Industrial and Vectura. In 2023, Anora reported net sales of EUR 726.5 million and employs approximately 1,200 people. Anora's shares are traded on Nasdaq Helsinki.

Anora Group Plc has issued a profit warning, announcing a revision of its 2024 financial guidance. The company now anticipates its comparable EBITDA for 2024 to be between EUR 65-70 million, down from the previous estimate of EUR 75-85 million. This adjustment is primarily due to lower than expected beverage sales volumes in the Wine and Spirits segments, particularly in monopoly channels, which negatively affected the comparable EBITDA. In 2023, Anora's comparable EBITDA was EUR 68.2 million. Anora Group is a leading wine and spirits brand in the Nordic region, known for its sustainability efforts, and exports to over 30 markets worldwide. The company is listed on Nasdaq Helsinki and employs about 1,200 people.

Anora Group Plc announced the composition of its Shareholders’ Nomination Board following nominations by its three largest shareholders. On 16 September 2024, Stein Erik Hagen was elected Chairman of the Nomination Board during its organizing meeting. Michael Holm Johansen and Jyrki Mäki-Kala, Chairperson and Vice Chairperson of Anora’s Board of Directors, serve as expert members. The Nomination Board, representing the largest shareholders by vote count as of the first banking day of June each year, is responsible for preparing proposals regarding the Board's composition, member count, and remuneration for the General Meeting of Shareholders. These proposals will be submitted to the Board of Directors by 31 January 2025. Further details about the Nomination Board can be found on Anora’s website. Anora Group is a leading wine and spirits brand house in the Nordic region with a strong focus on sustainability, exporting to over 30 markets globally. In 2023, Anora reported net sales of EUR 726.5 million and employs around 1,200 people. Anora’s shares are listed on Nasdaq Helsinki.