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MONOPOLY

Absolut Vodka maker nets record profit for state

Vin & Sprit Group, Sweden’s state-owned drinks producer, has netted record operating profits of 2.07 billion kronor.

Published: 31 January 2006 15:12 CET

V&S saw net sales increase by 6 percent to 9.84 billion, up by six percent. Profits after tax were up 42 percent to 1.5 billion kronor. Sales of Absolut Vodka, the group’s largest brand, accounted for a large part of the increase.

The company said that while sales of Absolut continued to grow in the United States, percentage growth was in double figures in many countries in Latin American, Europe and Asia.

“It is extremely pleasing to see that our focus on growth and realizing synergies from the acquisitions of recent years has begun producing results,” says Bengt Baron, CEO of V&S.

V&S Absolut Spirits, the group’s international brands business, also saw an 8 percent increase in sales. V&S Distillers saw reduced sales but increased profits, while profits at V&S were up 47 percent, which the company put down to increased efficiency.

The Local

SYSTEMBOLAGET

Swedes warned: Vodka won’t protect you from the coronavirus

Sweden's state-run alcohol chain Systembolaget has advised customers not to buy its spirits as a substitute for hand sanitiser.

Published: 21 April 2020 16:42 CEST
Swedes warned: Vodka won't protect you from the coronavirus
Stockholmers queuing outside Systembolaget before Easter. Photo: Henrik Montgomery/TT

One of the best ways of avoiding the new coronavirus and prevent its spread is to wash your hands often with soap and water, according to the Swedish Public Healh Agency.

If you don't have access to soap or running water, hand sanitiser is the next best option, but the product has been flying off the shelves as shoppers try to get their hands on a bottle.

Sweden's state-owned alcohol chain Systembolaget has been forced to put up signs in several of its stores informing customers that alcohol such as vodka and gin does not work as a substitute for hand sanitiser.

“NOT HAND SANITISER,” read the signs.

“We have had a few questions from customers and have put up signs in those stores,” said Systembolaget press officer Therese Elmgren.

“But it is not possible, just as the signs say. The percentage (of alcohol) needs to be higher.”

An alcohol concentration of at least 60 percent is needed for disinfectant to be effective in killing viruses or bacteria. Absolut Vodka, to use an example of a popular Swedish vodka brand, has an alcohol concentration of 40 percent.

However, some of the ingredients are the same, and during the coronavirus crisis Absolut has adapted parts of its manufacturing in order to produce pure alcohol which can be used for cleaning purposes, instead of vodka for consumption. This pure alcohol then needs to be mixed with gel, manufactured separately, to create usable sanitiser for the healthcare sector.

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