Snaige - Interim information

Snaigė AB increased its profit and EBITDA in 2015

Alytus, Lithuania, 2016-02-29 15:53 CET (GLOBE NEWSWIRE) -- In 2015, Snaigė AB
has demonstrated an ability to act promptly and increase profit and sales even
in the continuously changing business conditions. Following the decline of
economy in Ukraine, Russia and Central Asia caused by the crisis, the company
managed to rapidly change its focus, consolidate sales in the Western and
Central Europe and establish itself in the new markets. 

 According to the unaudited consolidated financial results for the year 2015,
Snaigė AB had reached a 3.2 million euro EBITDA and received unaudited
consolidated net profit amounting to 0.7 million euro 

The company’s unaudited consolidated turnover exceeded 44 million euro, which
is 4% higher than in 2014. 

According to Gediminas Čeika, the Director General of Snaigė AB, this result is
an excellent proof of how efficient and flexible the operations of the company
are. “Not only did we manage to make up for the decreased sales in the
significant markets of Ukraine, Russia and the Central Asia caused by their
current geopolitical situation, but also to earn more,” stated Mr Čeika. 

In 2015, the company’s largest markets were France, Germany, Poland, Portugal,
Ukraine, Czech Republic and Lithuania. The sales in these countries reached 78%
of the total company’s produce. Last year, Snaigė AB established trade and
stabilised its positions in Norway, Israel, Georgia and Azerbaijan. 

Gediminas Čeika, the Director General of Snaigė AB, stated that increased sales
of the company in such quality-demanding markets as Germany, France and
Scandinavia demonstrates a high quality level of Lithuanian refrigerators and
their conformity to the European standards. 

“I am happy that the quality and advantages offered by our products are valued
not only by Lithuanians, but also by French, German and Scandinavian consumers
spoiled by a wide choice of products,” said Mr Čeika. “I am proud of our
company, which on the global scale is just a small enterprise, but which is
able to compete against this industry’s giants.” 

Like every year, Snaigė AB had created several new products and improved the
existing ones. The company presented to the market its NO FROST system
refrigerators with electronic control and the most recent display coolers. 


         Director General of Snaigė AB
         Gediminas Čeika
         +370 315 56206

Attachments:

Snaige financial statements 2015 with confirmation.pdf