For the third consecutive year, we have surpassed the billion-dollar revenue milestone, achieving total revenue of $1.06 billion, a 1% increase over the prior fiscal year. This continued growth underscores our resilience, strategic focus and ability to thrive in a dynamic market landscape.

Our international markets remain a key growth driver, with branded revenue increasing by $42 million (12%) year-over-year. This was fueled by a 6% rise in Bitters sales, contributing $17 million, and the successful launch of STR8 VYBZ Rums in November 2024. Additionally, Angostura® Chill recorded an impressive 29% growth across the Caribbean, adding $4 million to our revenue growth.

Revenue from our bulk and co-packing segment grew by $6 million (17%) year-over-year, reflecting our ability to capitalise on global demand. While international expansion fueled growth, the local market segments faced some challenges and our Standard Rums segment declined by 5%.

Angostura® Bulk Chill concentrate revenue decreased by $8 million (26%), primarily due to a pre-planned production line maintenance program. In yet another series of innovations, the launch of Correia’s new range of rums, including Hard Rum, Coconut Flavored Rum, and Real Hard Puncheon, in the local market contributed to a 5% growth in this brand.

In 2024 Angostura also introduced a new flavour- Pear and Bitters- into its Angostura Chill® range of products. Our retail arm, Solera Wines and Spirits, expanded its footprint in Trinidad by opening two (2) new stores in December 2024, one at East Gates Mall (Trincity) and the other at M6 Plaza (Chaguanas), positioning the Group for local revenue growth in 2025.

To mark our bicentennial anniversary, we introduced two exclusive products: • A limited-edition 200th Anniversary Bitters; and Angostura® Cusparia, a premium rum blend aged for a minimum of twenty-one (21) years. These special releases celebrate our rich heritage and our unwavering commitment to innovation.

Our production costs rose by 5% compared to last year, driven by increased demand in international markets and higher raw material expenses. Despite these challenges, we remained committed to offering competitive pricing to sustain our market presence.

Notwithstanding the increase of $7 million in revenue over the previous year, Angostura’s 2024 profits after tax was marginally affected by the Group’s strategic decisions to invest in brand-building efforts, including:
• our milestone 200th Anniversary Gala;
• the Global Distributors Conference – the Group hosted over seventy (70) international distributors, representing thirty-seven (37) markets worldwide, locally in Trinidad and Tobago; and
• launch activities, our completely new redesigned packaging and production line upgrades for our new Premium Rum Range.

These initiatives contributed to an 8% rise in selling and marketing expenses. At the same time, we streamlined operations, leading to a 7% reduction in administrative costs. As a result, our profit for the year reached $144.3 million, a 5% decrease from the previous year.

Our overall position remains strong with steady financial health and total assets growing by 6% to $1.9 billion.

Each year we consistently support the local banking sector with the injection of US currency. In 2024, we contributed US$20.7 million from our export earnings and placed significant US dollar investments into this sector.

We remain steadfast in our mission to create long-term value for our shareholders through strategic investments, innovation and operational excellence. As we move into 2025, we carry with us our innovative skills and look forward to increasing our portfolio with a new product range and increasing efficiency.

We are confident in our ability to seize opportunities and continue our legacy of success.

The Board of Directors recommends a final dividend of $0.28 per share for the financial year ended December 31, 2024, bringing the total declared dividend for 2024 to $0.38 per share, consistent with the prior year. If approved, this dividend will be paid on July 31, 2025, to shareholders on record as of July 11, 2025. To facilitate this payment, the shareholders’ register will be closed on July 10, 2025.

Mr. Terrence Bharath S.C. Chairman

For More Information on Angostura Holdings Limited – Audited Financial Statements for the year ended December 31st, 2024 Click Here