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2009-12-01 15:39:58 CET 2009-12-01 15:40:58 CET REGULATED INFORMATION Vilkyskiu Pienine AB - Notification on material eventAB Vilkyškių pieninė continues operation optimization and cost reductionThe revenues of Lithuanian dairy AB Vilkyškių pieninė during 3 quarters of 2009 amounted to 114.7 mLTL (33.2 mEUR), or 2.5% less than in the same period in 2008. The net profit of the company amounted to 6.3 mLTL (1.8 mEUR) compared to the 9.7 mLTL (2.8 mEUR) loss in 3 quarters of 2008. „The reason for profit is significantly reduced production, management and administration costs and lower than in 2008 raw milk purchase prices. Our most important goals for the future is further automation and optimization of production processes and development of new products. After very challenging 2008 we expect that we will fare better in 2009 and end the financial year with profit“, - commented CEO of AB Vilkyškių pieninės Gintaras Bertašius. The largest part of revenues was generated from sales of cheese (49%), curd products (15%) and cream (14%). More than 50% of production is exported to Latvia, Estonia, Finland, Czech Republic and other EU members, as well as Russia. AB Vilkyškių pieninė increases efficiency also by disposing of unnecessary real estate. Recently the company sold its subsidiary's UAB Modest production facility in Bagaslaviškis and transferred the production to main facility at Tauragė, and sold unnecessary real estate in Skaudvilė. Total revenues from the disposal of these assets amounted to 490 thou. LTL. AB Vilkyškių pieninė shares are listed on Official list of NASDAQ OMX Vilnius. The Vilkyškių pieninė group consists of AB Vilkyškių pieninė, AB Kelmės pieninė and UAB Modest. Additional information: Vilija Milaševičiūtė, CFO phone: +370 441 55 102 vilija@cheese.lt |
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