Nordic wine and spirits supplier Anora plans more job cuts to improve profitability and efficiency. The Finnish group, owner of Koskenkorva vodka, expects to eliminate 70-80 jobs in 2025, aiming to cut personnel costs by €7m. This follows previous cuts in 2024, affecting a total of 37 roles.

CEO Kirsi Puntila will hold talks with staff starting in October, covering positions across the business. Approximately 500 employees are within the scope of discussions. The restructuring is expected to be completed by early 2026 as part of ongoing efforts to enhance profitability and efficiency.

In 2024, Anora’s net sales decreased by 4.7% to €692m, with EBITDA falling 9.2% to €61.3m. However, the company reported an operating profit of €34.5m, a significant improvement from the previous year. The net result turned positive at €11.1m compared to a loss in 2023.

For the first half of 2025, Anora experienced a 5.3% decline in net sales to €306.8m. Operating profit slightly decreased to €8.8m, with the company breaking even for the period. CEO Puntila attributed the challenges to shifts in consumer trends and poor weather conditions affecting sales in key categories.

Anora remains agile in response to market conditions, with a commitment to adjusting the cost base as needed. The company continues to seek measures to enhance profitability, efficiency, and cost-competitiveness under Puntila’s leadership. The aim is to navigate challenges and secure sustainable growth in the industry.

Read more at Yahoo Finance: More job cuts at Nordic wine and spirits group Anora