Finland-based brewer Olvi Group has issued a profit warning amid “uncertain” consumer demand and weak summer sales.
The company said today (21 October) it estimates its operating result will be between €80m and €84m ($92.9m to $97.6m) compared to a previous forecast of €82-86m.
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Last year, Olvi generated an operating result of €81.4m.
In a statement, the group pointed to “uncertainty related to consumer demand” and a “weaker-than-expected summer season”, particularly in the Baltic Sea region.
Olvi is set to publish its third-quarter results tomorrow.
Last month, the company struck a deal to buy Estonian mineral water producer Värska Originaal, an acquisition it said would “unlock new growth opportunities in export markets”.
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By GlobalDataOlvi also snapped up Bosnia and Herzegovina-based brewery Banjalucka Pivara in September from Altima UK Value Partners.
The transaction is pending approval from competition authorities in Bosnia and Herzegovina and is expected to be completed by the first quarter of 2026.
Olvi, founded in 1878, operates in Finland, the Baltic states, Belarus and Denmark.
The company’s net sales in 2024 were €657m ($763.5m). According to Olvi’s website, it has approximately 2,400 employees in six countries.
Olvi’s business is divided into three segments: Finland, the Baltic Sea region (Estonia, Latvia, Lithuania and Denmark) and Belarus.
