More job cuts at Nordic wine and spirits group Anora

Core Viewpoint - Anora, a Nordic wine and spirits supplier, is planning job cuts to enhance profitability and efficiency, with discussions set to begin in October 2025 [1][3]. Group 1: Job Cuts and Restructuring - Anora is expected to eliminate 70 to 80 jobs in 2025 as part of its restructuring efforts [2]. - The company aims to reduce personnel costs by approximately €7 million ($8.2 million) [2]. - The upcoming negotiations will involve around 500 employees across various positions [3]. Group 2: Financial Performance - In 2024, Anora's net sales decreased by 4.7% to €692 million ($819.2 million) [3]. - EBITDA fell by 9.2% to €61.3 million, but the company reported an operating profit of €34.5 million, a recovery from an operating loss of €31.3 million in 2023 [4]. - The net result for the year was €11.1 million, compared to a loss of €39.9 million the previous year [4]. Group 3: Market Conditions - In the first half of the current year, Anora's net sales fell by 5.3% year-on-year to €306.8 million [4]. - The operating profit for this period was €8.8 million, slightly down from €9.2 million in the first half of 2024 [4]. - The European beverage industry faced challenges in the second quarter due to shifts in consumer trends and adverse weather conditions [5].