Penalty for record numbers | Finansavisen

Travel restrictions, closed bars and calls to stay at home have led to wine and spirits sales skyrocketing. Therefore, very high expectations were attached to Arcus in the second quarter.

But even though revenues increased from NOK 698 million to NOK 767 million, and the operating profit before depreciation and amortization (EBITDA) came to NOK 119 million – it was not enough.

According to the report, investors responded by slashing the share down 4.9 percent to 41 kroner at a high volume.

– This is the best second quarter in Arcus’ history both when it comes to revenue and EBITDA, says CEO Kenneth Hamnes in the report.

Extremely strong in Norway

The wine category made it particularly strong in Norway in the second quarter, with revenue growth of as much as 53.3 per cent. In Sweden, however, it was a little slower, due to losses of producers in March last year.

– Arcus sales grew more than the extremely fast-growing market in Norway, which in turn leads to increased market share throughout the period. Both own brands and the agency business outperformed in the quarter, says Hamnes.

In the report, the company writes that the strong position in so-called carton wine has contributed positively after strong growth during the corona pandemic. Alcohol sales had double-digit growth in all regions. But the company had to see the market share of Vinmonopolet fall in spirits, since growth was very high in the market.

The largest shareholder in Arcus is Stein Erik Hagen’s Canica with around 44 per cent of the shares, followed by John Fredriksen with almost 10 per cent.

See the full quarterly report her.