Anora expands in Lithuania

Translation: Original published in Finnish on 11/25/2024 at 8:35 am EET.

Anora announced this morning that it will scale its position in Lithuania by establishing its own local subsidiary there. Anora has a previous presence in the Baltics, which accounted for 4% of its revenue in 2023. Therefore, a potentially stronger position in Lithuania is not significant from an overall perspective but could still support growth slightly. 

A dedicated Lithuanian organization from early next year

Anora stated that the commercial operations of its Lithuanian organization will start at the beginning of 2025. According to Anora, Lithuania is the largest market in the Baltics and the company intends to sell its strongest own brands as well as partner wines there. So far, Anora has been present in the Baltics in Estonia and Latvia, and the Baltic region together accounted for 4% of the 2023 revenue. The Baltics is a relatively small market and thus we do not believe that Lithuania alone offers significant growth potential on Anora's scale. As the Nordic market is quite mature and currently in decline, any growth potential is of course positive. Our estimates assume small growth in the coming years, including international growth. The news therefore does not give any cause to alter our forecasts.