THE PERIOD JANUARY – MARCH 2025

• Revenues (Jan - Mar): SEK 1 141 thousand (SEK 995 thousand on corresponding period 2024)
• EBITDA: SEK –3 204 thousand (SEK –3 132 thousand)
• EBIT: SEK –3 556 thousand (SEK –3 693 thousand)
• Net result: SEK –3 391 thousand (SEK –3 967 thousand)
• Earnings per share (EPS) -0,13 SEK / share

SIGNIFICANT EVENTS DURING JANUARY – MARCH 2025

• The Company expanded Arctic Blue webshop, offering direct delivery to five new European countries.
• The Company expanded 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 expanded global distribution of Nightwish Gin through a strategic partnership with La Maison du Whisky, bringing Nightwish Gin to a wider international audience.
• 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 started on February 17.
• 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 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.
• The Company entered into loan agreements amounting to a total of EUR 270 000.

SIGNIFICANT EVENTS AFTER PERIOD

• Arctic Blue Beverages’ product portfolio was awarded multiple medals at the prestigious San Francisco World Spirits Competition 2025. Arctic Blue Gin Rose secured a Double Gold medal - its fourth since launch - while the company’s newest gins, Nightwish Gin and Arctic Blue Coastal Dry Gin, were both awarded Silver.
• The Company entered into loan agreements amounting to a total of EUR 90 000.

REPORT HIGHLIGHTS

CHALLENGING TIMES IN THE PREMIUM ALCOHOL BUSINESS

“The challenging market environment continues, yet we have managed to grow our revenue compared to the same period last year. This growth has been driven by the expansion of our product portfolio, both in the gin category and in premium ready-to-drink beverages. Nightwish Gin, launched at the end of last year, is beginning to demonstrate its value within our portfolio, with steady sales growth despite Q1 typically being the slowest quarter of the year. Additionally, our new Arctic Blue Long Drink products, launched in February, reached the market quickly and have already contributed positively to our first-quarter results.
The Arctic Blue Showroom Distillery opened at the end of the year. However, due to the timing and the distillery’s currently low visibility, sales of tasting events, private functions, and special gin editions have been below expectations. We are confident that operations will pick up during the first half of the year and that order volumes will begin to grow. The introduction of limited-edition gins, particularly developed for the on-trade and restaurant segment, has been met with highly positive feedback. We believe this will in the long run translate into a positive financial impact.
We have successfully expanded our global availability since launching our own e-commerce platform. The first quarter has been focused on finalizing the system, optimizing data flow and user experience, as well as testing different marketing channels and approaches. This initiative requires patience, but we believe that by summer, we will have gained meaningful traction in a few selected markets, with early results starting to show in sales performance.

During the first quarter of 2025, our sales revenue increased by 14% compared to the same period last year. This growth was driven by new product launches, such as Nightwish Gin and our new Arctic Blue Long Drink products, as well as the broader global availability of our portfolio through our e-commerce platform. While sales through Finland’s Alko monopoly have declined, we have been able to compensate with strong performance in the on-trade and travel retail segments. However, compared to the previous quarter, overall sales revenue decreased by 16% due to seasonal fluctuations.
Export sales have been slower than expected, with no significant growth achieved in any particular market recently. Nevertheless, we believe our own e-commerce availability opens up a more agile and scalable path to strengthen international sales, without the complexity of building traditional distributor networks in every market. Building local awareness and brand visibility remains crucial to this strategy, and we will continue investing in this through collaborations with local influencers and premium on-trade partners.

The start of the year was quieter than expected, but a key positive sign is that our revenue grew compared to the same period last year. On-trade sales and brand activations are progressing well, and we believe this momentum will eventually be reflected in Finland’s Alko monopoly sales, even though the current economic climate is causing consumers to be more cautious with their spending.
We are in a stronger position than a year ago, thanks to a more dynamic and attractive product portfolio, with several new products already showing strong sales potential. In addition, the full potential of our Showroom Distillery is expected to materialize later this year.
Lastly, our growing e-commerce presence will begin to make a real impact as we ramp up market activity with new offerings such as Nightwish Gin and our Arctic Blue Long Drink products. Despite the declining market, we believe we are well positioned to grow and capture market share as the economic environment begins to improve”, says Valtteri Eroma, CEO of Arctic Blue Beverages.

Arctic Blue Beverages AB has published its January - March 2025 Interim Report on the Company’s website today. The Interim Report is available to download on the Company’s website www.arcticbluebeverages.com/investors/financial-reports/. A PDF version of the Interim Report is attached to this press release.