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2009-02-27 15:03:03 CET 2009-02-27 15:04:04 CET REGULATED INFORMATION This message has been corrected. Click here to view the corrected message Snaige AB - Interim informationInterim financial reports for 12 month of year 2008 and preliminary results for year 2008 of AB „Snaigė“1. Preliminary consolidated non-audited results for 2008 Sales and other revenues: 341.69 m. LTL (98.96 m. EUR). Loss before tax: -25.98 m. LTL (-7.52 m.EUR), Net loss: -22.99 m. LTL (-6.66 m.EUR), EBITDA: 2.94 m. LTL (0.85 m.EUR). Despite AB „Snaigė“ in previous years had put lots of effort into optimization of company‘s management and manufacturing processes, minimization of costs and structuring of sales markets, it was not enough to counter the consequences of global economic recession in the main sales markets of the company. After stopping of the sales in Ukraine and partially in Russia the company has lost up to 35 m.LTL of planned revenues. Only due to devaluation of Russian rubble, which began at the end of 2008, the company has lost 8.4 m.LTL. As a result the year was ended with 22.986 m.LTL non-audited consolidated loss before taxes, instead of projected loss of 15 m.LTL. In 2009 in response to decreasing consumption, AB „Snaigė“ continues optimization of manufacturing scope, minimization of costs, rejects small and less profitable clients and concentrates on serving the most perspective and profitable ones. After implementation of these means the company plans to undergo the difficult period and does not eliminate the possibility, that at the peak refrigerator buying season the product demand and sales will increase. 2. The consolidated non-audited interim financial reports for 12 months of 2008 and the confirmation of accountable persons are provided to the public (attached). Director General at interim, Neringa Menčiūnienė +370 315 56206 |
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