Utenos Trikotazas AB - Interim information

Activity results for the 3 months of 2011

Consolidated Group sales for the I quarter of 2011 reached LTL 17.8 million
(EUR 5.1 million), 4,2% more than during the same period in 2010. The Group
earned LTL 0,8 million (EUR 0.2 million) profit from typical operations and
incurred LTL 1 million (EUR 0.3 million) of pre-tax loss, and in the same
period in 2010 earned LTL 0.4 million (EUR 0.1 million) profit from typical
operations and LTL 1.3 million (EUR 0.4 million) of pre-tax profit. 

Company “Utenos trikotažas" sales for the I quarter of 2011 reached LTL 15
million (EUR 4.3 million), 4.3% more than during the same period in 2010. The
Company earned LTL 0.6 million (EUR 0.2 million) profit from typical operations
and LTL 0,08 million (EUR 0.02 million) of pre-tax profit, and in the same
period in 2010 earned LTL 0.3 million (EUR 0.1 million) profit from typical
operations and incurred LTL 0.2 million (EUR 0.05 million) of pre-tax loss. 

The consolidated Group results were positively impacted by LTL 1,2 million (EUR
0,3 million) for the I quarter of 2011 due to Ukraine currency exchange rate
(UAH) fluctuation. It is important to note, that it virtually had no effect on
the Company or Group cash flows. 

“Revenue growth in the first quarter of 2011th is the result of the focus on
the clients demanding higher value added, ecological, high quality products.
Another important and favorable trend is the consistently growing demand for
ecological products, sales of which have increased by almost 50 % in this
quarter”, - says General Manager of the company Utenos trikotažas Nerijus
Vilūnas. 

Revenues from Lithuanian market have recorded strong growth of approximately
25% as the result of intensified marketing efforts of our branded Rokas, Gunda
or Eko product lines which we distribute through the network of our partners in
Lithuania and Maxima stores. As of May consumers can find our collections in
Apranga and Miglė shops too. 

“Profit wise, the company and the group posted positive operating profit, LTL
0,6 million and LTL 0,8 million respectively, despite record high cotton
prices. Recently, one could observe downward trend in cotton prices. 

It is worth noting, that the subsidiary AB “Šatrija” have improved its
performance, posting 0,1 million Litas operating profit for the first quarter
2011th, while for the same period in 2010th it incurred 0,05 million Litas
operating loss”, - says N. Vilūnas. 

AB “Šatrija” specializes in highly complex, technically advanced, specialized
work-wear (designated for fire brigades, army, pilots etc.), active leisure
wear and extreme sports clothing (designed for yachtsman, skiers etc.). 

For more information please contact Mr. Nerijus Vilūnas, General Manager of AB
„Utenos trikotažas“, tel. No. +370 389 51445. 

I, the undersigned, confirm that the above information is complete and true.



 General Manager   AB „Utenos trikotažas“   Nerijus Vilūnas

Attachments:

Confirmation of responsible persons.pdf

Consolidated and company financial statements.pdf