Anora Group Oyj · OMXHEX:ANORA
Anora Group Oyj — Investor Presentation (October 2023)
86 slides from Anora Group Oyj's investor presentation, October 2023
Slide 1: Growth through sustainability
Growth through sustainability Investor presentation October 2023
Slide 2: Contents
Contents 03 Introduction 06 Our strategy: Delivering growth through sustainability 11 Our sustainability roadmap: Regenerate the future 21 Market and trends 25 The leading wine and spirits brand house in the Nordics 36 Our industrial business 43 Financials 53 Why invest in Anora 55 Appendix: M&A and
Slide 3: The leading wine and spirits brand house in the Nordic region
Anora | Market positions The leading wine and spirits brand house in the Nordic region and an industry forerunner in sustainability Forerunner in sustainability Norway Finland Wine Spirits Wine Spirits #1 #1 #1 #1 Sweden Denmark Wine Spirits Wine Spirits #2 #1 #1 #2 Baltics Germany Wine Spirits Aqua
Slide 4: A well-balanced business across categories and countries
Anora | Key figures A well-balanced business across categories and countries Net sales, MEUR Comparable EBITDA, MEUR (% of net sales) Personnel 703 76.1 (10.8%) 1,250 Industrial Industrial Sweden 19% 23% 27% Wine 44% DFTR & Anora Export Beverage brands Net sales 5% Net sales Partner net sales 48% by
Slide 5: Strong and versatile portfolio of leading own and partner brands
Anora | Brands Strong and versatile portfolio of leading own and partner brands Key Anora brands Key partner brands Wine Wine Spirits Spirits Investor presentation | October 2023 | 5
Slide 6: Delivering growth through sustainability
Anora | Our vision Delivering growth through sustainability We are the leading Nordic wine and spirits group delivering growth through sustainability. Our passion takes the best of the Nordics to the world and the best of the world to the Nordics. We are Anora, let’s drink better! Investor presentat
Slide 7: Our growth strategy up to 2030
Anora | Strategy Our growth strategy up to 2030 Lead category growth Scale our position in across consumer occasions Denmark and the Baltics and channels in the Swedish, to cement our regional Norwegian and Finnish markets as OUR AMBITION leadership the wine and spirits powerhouse Recognised #1 in E
Slide 8: Delivering growth through sustainability
Anora | Our ambitions Delivering growth through sustainability Faster-than-market growth (1.5x) in our core monopoly markets Share of international1 from ~10% (today) to ~20% (future) 3–5% Annual net sales growth Including M&A, majority is organic Hero brands from ~15% (today) to ~30% (future)2 Self
Slide 9: Our sustainability roadmap to growth
Anora | Sustainability at the centre Our sustainability roadmap to growth We are committed to set Science-Based Targets.Investor presentation | October 2023 | 9
Slide 10: Strong values and company culture support our growth
Anora | Our values Strong values and company culture support our growth COURAGE ENERGY EMPOWERING TO EXPLORE TO INSPIRE TO WIN We are passionate and We share a can-do attitude Our dynamic, open and ambitious to lead the industry. and enjoy going the extra inclusive way of working We have the courage
Slide 11: Our sustainability roadmap
Our sustainability roadmap Investor presentation | October 2023 | 11
Slide 12: Sustainability roadmap: Koskenkorva and Gjelleråsen
Sustainability | Roadmap Substantial reduction of CO₂ emissions at Koskenkorva Distillery Significant use of renewable energy at Gjelleråsen Investor presentation | October 2023 | 12
Slide 13: Key drivers
Sustainability | Roadmap Key drivers Nordic monopolies have agreed to Decrease the CO₂ footprint of the supply chain by 50% within 2030 Minimise the use of heavy weight glass bottles Maximise the share of low carbon footprint packaging Support new innovative low carbon packaging solutions An
Slide 14: Planet
Sustainability | Roadmap Planet 1 2 3 Carbon neutral We increase the share We reduce wastewater operations by 2030 of regeneratively with 20%, increase and Koskenkorva farmed barley to 30% recycling rate of waste Distillery by 2026 – of own grain spirit to 90% and reduce without products by 2030. la
Slide 15: We are committed to set Science-Based targets
Sustainability | Roadmap We are committed to set Science-Based targets Near-term Long-term 2030 Reduction target of 38% 2050 aligned with 1.5°C Net Zero covering Scopes 1–3 Sources Investor presentation | October 2023 | 15
Slide 16: How we will reduce emissions by 2030
Sustainability | Roadmap How we will reduce emissions by 2030 SCOPE 1+2 SCOPE 3 Category 9: Downstream transportation and distribution Packaging 4% 26,594 tCO2e 21.67% > 68% Categories 5+6+7: Wines of category 1 0.5% 18.3% of which emissions Category 4: 86% comes from Barley SCOPE 3: Upstream
Slide 17: Milestones to zero emissions in own production
Sustainability | Roadmap Milestones to zero emissions in own production Bioenergy plant at Koskenkorva distillery Koskenkorva heat pump Anora Electricity Non-renewable CO2 emissions per tonne baseline in Finland to 100% renewable Gjelleråsen steam (LPG) to biogas Koskenkorva Rajamäki steam boiler so
Slide 18: People
People Sustainability | Roadmap 1 2 3 100% of risk countries We increase the We ensure diversity, covered with audits number of safety equity and inclusion or certificates. 100% observations and at work. of suppliers have reduce accidents signed amfori code resulting to absence of conduct in 2023. t
Slide 19: Product
Sustainability | Roadmap Product 1 2 3 By 2030 all packages are We increase We support a light in weight, 100% the amount of modern, responsible recyclable and of sustainable and drinking culture materials from certified NoLo choices sources or recycled origin CO2 footprint of different Glass BiB pa
Slide 20: Building our sustainable future together with key partners
Sustainability | Partners Building our sustainable future together with key partners E S G GRI TCFD Taxonomy Investor presentation | October 2023 |
Slide 21: The Nordic wine and spirits market
The Nordic wine and spirits market Investor presentation | October 2023 | 21
Slide 22: The Nordic wine and spirits market is large and non-cyclical
The Nordic market The Nordic wine and spirits market is large and non-cyclical Large and profitable market Non-cyclical business Stable historical growth and solid growth forecast Spirits: Wine: Value of the Nordic wine and spirits market1 Wine and spirits consumption vs. GDP growth (Norway)2 volume
Slide 23: Experience in operating with monopolies and regulated markets
The Nordic market | Monopolies We have extensive experience in operating with monopolies and in the regulated markets State retail monopolies are Special characteristics of the monopoly markets Anora’s largest sales channel* Monopoly route-to-assortment Alcoholic beverages in grocery • Tender proces
Slide 24: Key trends shaping our business
The Nordic market | Trends Key trends shaping our business Premiumisation Consumers Balancing Demand for and in-home Digital are going consumption convenience consumption disruption green habits after COVID 14% environmental & No- and low (NoLo) 16% global volume Long-term tailwinds to 93% of consum
Slide 25: Lead in growing sustainable wine, win share across markets
Wine Lead in growing sustainable wine, win share across markets Investor presentation | October 2023 | 25
Slide 26: We are the market leader in the Nordics
Wine | Introduction We are the market leader in the Nordics Capabilities in partner wine imports and own label wine make us unique Net sales, MEUR Gross margin Comparable EBITDA margin 316 30% 23.5% • Multiple independent wine • Developing, sourcing, filling and Partner import companies, long histor
Slide 27: Target to grow sales faster than the market: +3.6% annually
Wine | Growth ambition Target to grow sales faster than the market: +3.6% annually Improving profitability following increased share of own label wine Wines net sales ambition, EURm1 38% Anora Wines Vingruppen Partner Filling Market CAGR Market CAGR Market CAGR Market CAGR (21-30) 1,3% (21-30) 1,4%
Slide 28: Lead in growing sustainable wine, win share across markets
Wine | Growth priorities Lead in growing sustainable wine, win share across markets Our growth priorities Impact Target 2030 Grow Vingruppen NS +15% to Grow Vingruppen through focus on MEUR 260 and partner filling monopoly tenders and on-trade +20MEUR Grow faster than the overall market Win in the g
Slide 29: Long-term profitable growth in spirits
Spirits Long-term profitable growth in spirits Investor presentation | October 2023 | 29
Slide 30: Market leader in the Nordics and strong challenger internationally
Spirits | Introduction We are the market leader in the Nordics and a strong challenger internationally Net sales, MEUR Gross margin Comparable EBITDA margin 234 44% 28% Spirits – Monopoly market % of Spirits net sales 67% • Norway • Finland • Sweden Spirits – international % of Spirits net sales • D
Slide 31: Leader on the stable and profitable spirits market
Leader on the stable and profitable spirits market The strongest spirits portfolio in the market with iconic local and international brands Net sales, MEUR monopoly markets 156 Partner brands 27% Net sales by Anora’s hero brands brand type* are exported to some 30 countries Own brands 73% *Net sales
Slide 32: Leader on the stable and profitable spirits market: market shares
Leader on the stable and profitable spirits market Market shares in Spirits in the Monopoly markets Largest regional Market Categories Own brands partner brands share1 Unflavoured vodka and spirits 54.2% Aquavit 69.1% Note: Spirits categories are mapped directly from Gin 17.0% monopoly categories on
Slide 33: Focus areas for Spirits
Anora’s growth strategy | Focus areas for Spirits Triple the sales internationally and lead the Nordic markets Our growth priorities Impact Target 2030 Strong development in on-trade channel drives us to Earn the right to expand partner business Monopoly markets reach above-market growth in partner
Slide 34: Growth driven by market share and RTD and NoLo
Spirits Monopoly | Growth ambition Growth driven by capturing market share and building new business with RTD and NoLo Topline projected to grow ~4% CAGR 2022-2030; profitability relatively flat in early years, increase in A&P investments in early years Market CAGR (21-26) 1,2% Market CAGR (21-30) 2
Slide 35: Tripling international sales by 2030
Spirits International | Growth ambition Tripling international sales by 2030 and increasing share from 10% to 20% supported by M&As Topline projected to grow at ~17% CAGR 2022-2030; profitability weak in early years, given significant increase in A&P and people investments Net sales ambition of Spir
Slide 36: Funding the growth journey through efficiency
Industrial Funding the growth journey through efficiency Investor presentation | October 2023 | 36
Slide 37: State-of-the-art supply chain
Industrial | Introduction State-of-the-art supply chain Industrial and logistics business Supply chain footprint Net sales, MEUR* Comparable EBITDA margin Bottling production 160 17.7% 136 million litres Industrial Logistics services (Vectura) 35% Distillation production 30 15% million litres Ne
Slide 38: Efficient supply chain enables growth
Industrial | Supply chain Efficient supply chain enables growth Logistics centres Bottling plants Distilleries Outstanding route-to-market through efficient World class bottling plants for spirits and wines – Unique distillation and maturation logistics capabilities covering 23.3% of all forerunner
Slide 39: Koskenkorva is a unique distillery
Industrial | Industrial business Innovations enabling premium products and growth Koskenkorva is a unique distillery • Koskenkorva Climate Action Vodka of regeneratively farmed grain Sustainability, innovation, premium quality • Koskenkorva organic vodka and efficiency all in one • High quality etha
Slide 40: Performance and productivity developing positively
Industrial | Efficiencies Performance and productivity Execution of supply chain developing positively – Culture of synergy benefits is on track… continuous improvement Rajamäki • Strong execution capability: Prompt follow-up and Bottling OEE Working hours +44% actions of planned synergy benefits ac
Slide 41: Further efficiencies in the pipeline
Industrial | Improvement steps …with further efficiencies in the pipeline Estimated additional efficiency potential is EUR 5-10 million per year, implementation during next 3 years Execution of Supply Chain Platform, including Globus Wine Scope: 1. Scale benefits of Procurement Assessment 2. Logisti
Slide 42: Funding the growth journey through efficiency
Industrial | Closing Funding the growth journey through efficiency Internal culture Additional Sustainability drives efficiency efficiency potential identified and growth Continuous improvement Globus Wine volumes provide Pioneering sustainability work will culture enables positive performance addit
Slide 43: Value creation through profitable growth
Financials Value creation through profitable growth Investor presentation | March 2023 | 43
Slide 44: Our long-term financial targets for 2030
Financials | Targets Our long-term financial targets for 2030 Actual Actual Long-term financial targets for 2030 1–6/2023 2022 Annual net sales growth 3–5% 14.4% 5.7% including M&A, majority being organic Comparable EBITDA margin Through focus on margin accretive business and scale benefits on 16% 6
Slide 45: Net sales grew by 5.7%
Financials | FY 2022 Net sales grew by 5.7 % Decline in profitability due to normalisation after Covid-19, higher opex and lower gross margin Market: The decline in volumes was related to the Anora: Net sales growth driven by the strong performance of the Globus Wine in Denmark, normalising of the c
Slide 46: All commercial units contributing to growth
Financials | Net sales All commercial units contributing to growth; strongest growth will come from outside the Nordic monopoly markets Illustrative Anora Group revenue development by unit 2021 PF actuals – 2030F, EUR millions ~950-1.150 +5% 3-5% 739 640 665 2019 PF 2021 PF Globus 2021 incl. Wine gr
Slide 47: Earnings driven by topline growth and efficiency
Financials | Profitability Earnings driven by topline growth, incremental marketing investments financed by efficiency improvements and expanded margins Illustrative Anora Group EBITDA development 2021 PF actuals – 2030F, EUR millions; % of net sales 15% ~-3% ~0% ~2% ~-2% ~0% ~4% 16% ~150-180 101 80
Slide 48: Cash generation expected to remain stable
Financials | Cash generation Cash generation expected to remain stable throughout the strategy period thanks to stable margins, capex and working capital Anora’s underlying business will Anora is well invested. Capex will Throughout the strategy period, continue to produce strong remain at current l
Slide 49: We will continue to use M&As to support our strategy
Financials | M&A We will continue to use M&As to support our strategy Strategic Lead category growth across consumer Scale our position in Denmark and Accelerate beyond the Nordics pillar occasions and channels in the Swedish, the Baltics to cement our regional with strong, sustainable Norwegian and
Slide 50: Key figures
Financials | Key figures Key figures (IFRS) 2022 2021 Net sales, EUR million 702.7 478.2 Comparable EBITDA, EUR million 76.1 71.7 % of net sales 10.8 15.0 Items affecting comparability, EUR million 67.9 -8.8 Result for the period, EUR million 18.1 31.2 Earnings per share, EUR 0.26 0.67 Net debt, EUR
Slide 51: Financial position affected by consolidation of Globus Wine
Financials | Key financials Financial position affected by consolidation of Globus Wine Net sales and comparable EBITDA1 EURm Net cash flow from operating activities1 EURm 478.2 357.3 359.6 342.4 52.6 56.1 50.8 71.7 76.1 37.6 52.4 40.0 44.8 6.5 -0,4 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021
Slide 52: Why invest in Anora?
Financials Why invest in Anora? Investor presentation | October 2023 | 52
Slide 53: Value creation: higher growth at improved margins
Why invest in Anora | Value creation Value creation: higher growth at improved margins, with strong cash flow generation and stable dividends • Increased revenue growth through market share gains in home markets Higher revenue growth and international expansion • M&A to strengthen our capabilities a
Slide 54: www.anora.com
www.anora.com [email protected] Follow us: Investor presentation | January 2023 54 |
Slide 55: Appendix: M&A and partnerships
Appendix: M&A and partnerships Investor presentation | October 2023 | 55
Slide 56: Altia and Arcus merger
Merger Altia and Arcus merger The leading wine and spirits brand house in the Nordic region and an industry forerunner in sustainability 1 September 29 September 23 July Merger completed: Brand divestments Anora is formed Merger plan agreed – all regulatory announced approvals for the merger 3 Septe
Slide 57: Step-change in scale with efficiencies across the value chain
Merger Step-change in scale with efficiencies across the value chain Increase scale and control of own operations leads to reduced carbon footprint, more sustainable operations and less complexity resulting in improved efficiency and profitability Strong manufacturing Efficiency gains across the val
Slide 58: Latest news
Latest news Acquisitions & investments Globus Wine – leading wine company in Denmark ISH – innovative scale-up in non-alcoholic beverages Divestments Larsen – cognac business divestment to International Beverage Holdings Limited Investor presentation | January 2023 | 58
Slide 59: Executing strategy through partnerships and M&A
Executing strategy through partnerships and M&A Acquisition of New partner Globus AB InBev Wine strengthening On Trade with leading wine company in Denmark solid brands Divestment of Larsen • A top partner for tapping the on- • Exiting a non-core category cognac trade horeca market • Sales price of
Slide 60: Acquisition of Globus Wine, the leading wine company in Denmark
Acquisition of Globus Wine Acquisition of Globus Wine, the leading wine company in Denmark Strengthens Anora's competitiveness in volume products Consistent above-market growth Near-market filling reduces CO2 foot print significantly. Market share 26% The Danish wine in still wines market is estimat
Slide 61: Market-leading wine company in Denmark
Acquisition of Globus Wine Market-leading wine company in Denmark Founded in 2006 Key figures Net sales split by line of business Sources wine in bulk to be filled in bag-in-boxes or bottles at Net sales Adjusted EBITDA Employees the production facility in Køge Filler 37% Products are sold under own
Slide 62: Anora invests in ISH
Investment in ISH Anora invests in ISH, the award- winning Danish scale-up company in non-alcoholic beverages Anora has made an investment of EUR 5 million in ISH ISH is a Danish scale-up company in non-alcoholic beverages founded in 2018 by Morten Sørensen ISH is a global leader in non-alcoholic (N
Slide 63: Appendix: January – June 2023 results
Appendix: January – June 2023 results 63
Slide 64: In Q2, growth in sales through Globus Wine
Business Review In Q2, Growth in sales through Globus Wine, decline in profitability due to currency impact and increased input costs Net sales, Net sales excl. Globus Wine Comparable EBITDA, EUR million EUR million EUR million 182.7 158.5 13.0 (165.7) (18.9) Profitability declined Guidance for comp
Slide 65: Market development
Business Review Market development Sales in monopolies in slight decline DEVELOPMENT OF WINE AND SPIRITS SALES VOLUMES IN THE NORDIC % change compared to previous year Q2 2023 Q2 2022 H1 23 H1 22 2022 NORDIC MONOPOLY SALES VOLUMES OF WINE AND SPIRITS TOGETHER Nordics, total sales volumes -1.5 -7.5 -
Slide 66: Wine
Business Review Wine New own and partner wines in Q2 Q2 Highlights NET SALES (TOTAL), MEUR 15.9% • Net sales increased to EUR 81.6 million due to Globus Wine. 81.6 70.4 • Net sales without Globus Wine decreased. • Own wines grew sales while partner wines declined. • Market share grew in Norway and D
Slide 67: Spirits
Business Review Spirits Successful product launches and tender wins Sweden – Koskenkorva Organic and 7 Botanicals Finland – Barracuda Pineapples and new no and low - Q2 Highlights NET SALES, MEUR alcohol products in groceries, a new Koskenkorva shop- -1.8% in-shop at Helsinki-Vantaa airport • Net sa
Slide 68: Industrial
Business Review Industrial Q2 Highlights NET SALES, MEUR +4% • External net sales grew by 13%. 67.5 70.3 • Net sales in industrial services 27.9 increased due to higher volume and Internal 30.0 sales prices. • Net sales of industrial products 42.4 External 37.4 decreased due to low demand of starch
Slide 69: Sustainability highlights in Q2
Business Review Sustainability highlights in Q2 Planet • The process water circulation heat pump at Koskenkorva Distillery taken into full use to reduce CO2 emissions People • Lost time injury frequency LTIF 4.1 (7.8) • A shared human rights due diligence approach, and human rights reporting against
Slide 70: In Q2, net sales increased due to Globus Wine
Financial review In Q2, net sales increased due to Globus Wine In local currencies net sales without Globus Wine increased by 1.3% Q2 NET SALES (EXTERNAL), MEUR 183 166 24 Globus Wine 160 160 148 +10% 182.7 165.7 5.0 12.5 -0.5 159 Q2 19 PF Q2 20 PF Q2 21 PF Q2 22 Q2 23 Q2 22 Wine Spirits Industrial
Slide 71: Profitability weakened during Q2
Financial review Profitability weakened during Q2 Price increases only partly offset the impact of currency rates and high input costs. Profitability of Globus Wine lower than expected. COMPARABLE EBITDA, MEUR AND % OF NET SALES 23.3 23.6 18.9 -31% 16.6 18.9 -5.9 13.0 -1.4 -0.4 13.0 10.4% 15.7% 14.8
Slide 72: Barley sourcing
Financial review Barley sourcing In Q2 23 Anora used 38.7 (44.3) BARLEY PRICE DEVELOPMENT (EUR/TN)* million kilos of grain 400 350 300 250 200 150 100 50 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 ANORA’S MONTHLY SOURCING VOLUMES (TN) 30 000 Key principles
Slide 73: Working capital
Financial review Working capital Working capital was at a level of 2% of net sales at H1 2023 (LTM) Working capital, MEUR % of sales, (LTM) The Group’s working capital improved to EUR 14.5 (63.4) million at the end of June. 10% 2% Inventories increased to EUR 214.9 (169.0) million. 69.3 Inventor
Slide 74: Cash flow
Financial review Cash flow Operating cash flow improved in H1/2023 Net cash flow from operations, MEUR 2022: -0.4 H1/2023: 49.0 (-43.7) Net cash flow from operations improved to 45.3 EUR 49.0 (-43.7) million in H1/2023. 36.1 Change in working capital of EUR 52.5m (-58.0m) in H1/2023 7.3 3.6 Ca
Slide 75: Balance sheet key figures
Financial review Balance sheet key figures H1 23 H1 22 2022 The increase in net debt was mainly due to the Net debt / comparable EBITDA (rolling 12m) 3.9 2.4 4.0 acquisition of Globus Wine which was financed with Borrowings, EUR million 270.6 251.5 247.5 debt. Net debt, EUR million 253.1 201.3 300
Slide 76: Outlook 2023
Financial review Outlook 2023 Guidance updated on 15 August: Comparable EBITDA expected to be EUR 70–78 million. Previous guidance: Comparable EBITDA expected to be EUR 80–90 million. • In 2023, the volumes in the monopolies are expected to be significantly lower than during the COVID-19 restriction
Slide 77: Our long-term financial targets for 2030
Financials | Targets Our long-term financial targets for 2030 3–5% 16% <2.5x 50–70% Annual net sales Comparable EBITDA Net interest-bearing Dividend growth margin debt / comparable pay-out ratio EBITDA Including M&A, Through increased focus on Debt levels may occasionally Anora aims to maintain a st
Slide 78: Q2 2023 income statement
Financial Review Q2 2023 income statement EUR million Q2 23 Q2 22 H1 23 H1 22 2022 Net sales 182.7 165.7 342.2 299.2 702.7 Other operating income 1.9 2.8 4.0 5.2 10.9 Materials and services -113.6 -95.3 -210.7 -170.8 -414.3 Employee benefit expenses -26.5 -23.0 -52.0 -46.4 -93.8 Other operating expe
Slide 79: H1 balance sheet
Financial Review 30 June 30 June 31 Dec EUR million 2023 2022 2022 H1 balance sheet EQUITY AND LIABILITIES Equity attributable to owners of the parent Share capital 61.5 61.5 61.5 Invested unrestricted equity fund 336.8 336.8 336.8 Legal reserve 0.5 0.5 0.5 30 June 30 June 31 Dec Hedge reserve 0.5 7
Slide 80: Events after the period
Financial review Events after the period Appointment in the Executive Management Team Risto Gaggl has been appointed as Senior Vice President, Industrial and member of Anora’s Executive Management Team as of 1 January 2024. Hannu Tuominen, current Senior Vice President, Industrial, will retire at th
Slide 81: Blossa 23 travels back to Stockholm's Gamla stan
Blossa 23 travels back to where it all began: Stockholm’s Gamla stan Celebrating its 20th anniversary, this year’s limited edition Blossa glögg draws its inspiration from Gamla Stan in Stockholm; the place where the very first Blossa glögg was bottled more than 100 years ago. • Important brand for C
Slide 82: Appendix: Governance
Appendix: Governance Investor presentation | October 2023 | 82
Slide 83: Anora's top 10 shareholders 30 June 2023
Ownership structure Anora's top 10 shareholders 30 June 2023 Shareholder Shares % of shares ILLUSTRATION OF ANORA’S OWNERSHIP Solidium Oy 13 097 481 19.4 Varma Mutual Pension Insurance Company 2 031 240 3.0 Ilmarinen Mutual Pension Insurance Company 1 290 000 1.9 Rest of the world 0.5% Canica AS Wes
Slide 84: Anora's Executive Management Team
Governance Anora’s Executive Management Team Pekka Tennilä Janne Halttunen Hannu Tuominen Kirsi Lehtola CEO SVP, Wine SVP, Industrial CHRO Sigmund Toth Kirsi Puntila Mikkel Pilemand CFO SVP, International CGO Previously served as International career Previously served as Strong HR expertise Chief Ex
Slide 85: Anora's Board of Directors
Governance Anora’s Board of Directors Michael Holm Johansen Jyrki Mäki-Kala Kirsten Ægidius Christer Kjos Florence Rollet Chairperson Vice Chairperson Member Member Member Shareholdings: 80,000 Shareholdings: 3,517 Shareholdings: 2,440 Shareholdings: - Shareholdings: - Chair of the Human Resources C
Slide 86: Building the future on our strong brands
History Building the future on our strong brands, continuous evolution and sustainable operations 2006– 1996 Expansion to other Nordic countries 1807 Arcus established Sale of industrial spirits business 2016 The oldest aquavit as a demerger from Arcus IPO at the Oslo brand in the world Vinmonopolet