Alcohol producer Karloff posts solid results

Alcohol producer Karloff (Semaňák family; Tatratea brand) reported an 8% decline in sales to €13.4m in 2024, with net profit falling to €0.6m after an excise‑tax increase prompted stockpiling in 2023. It planned €14m in sales for 2025. It completed a €4m modernization of production in a historic spinning‑mill building in Kežmarok. Exports account for 40-45% of output, and the firm aims to expand in Hungary, Poland, and Germany. It recently sold Torden publishing house, known for pro‑Russian and conspiracy titles, previously supported by founder Ján Semaňák, who died in 2024.

(forbes.sk)