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Financial development and tax footprint

We are a growing and evolving Group committed to long-term development. Financial performance is important for us. It ensures resources for growth, development, and value creation. We have a strong balance sheet and good profitability, and our payment of dividends is stable.

Profitable operations and good financial results ensure that we can also implement our social responsibility in the best possible way. In terms of social responsibility, our most significant inputs include taxes and tax-like payments. We pay taxes and fees in accordance with local legislation in each of our operating countries. We comply with valid local tax legislation, rules and regulations. We report various forms of tax at the Group level by segment.

In 2023, Olvi Group paid EUR 674.5 million in taxes and employer contributions.

Excise duties represent 69,1% of all our taxes. The Group’s excise duties include taxes on alcoholic beverages, soft drinks and packaging. In 2023, the Group paid 466.1 million euros in excise duties.

Value added tax represented 23,3 % of the Group’s taxes. In 2023, we paid 157.5 million euros in value added tax. The remaining 7.6% consists of income tax, real estate tax, employer contributions and other taxes. These totalled 50,9 million euros in 2023.

Read more in Sustainability report 2023.