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2013-02-28 15:33:28 CET 2013-02-28 15:34:30 CET REGULATED INFORMATION Snaige AB - Interim informationSnaigė AB improves sales results for 2012 by 31%, EBITDA by 36 percent with profits up by 5 timesAlytus, Lithuania, 2013-02-28 15:33 CET (GLOBE NEWSWIRE) -- Based upon (unaudited unconsolidated) 2012 results Snaigė AB grew sales to more than 150 mln LTL in 2012 which is 31 percent higher than the same period last year. The Company generated 4.6 mln LTL (unaudited unconsolidated) profit which is almost 5 times more than for the last year. EBITDA (unaudited unconsolidated) for 2012 exceeded 13 mln LTL, which is 36 percent higher than for the last year. This significant increase in turnover and EBITDA was reached due to successful export operations of carried out by the company. In 2012 Snaigė AB sold products to 33 European and Asian countries, export increased by 35 percent, and were 97 percent of total company sales. For achievements in the field of export Snaigė AB was recognized as “The Exporter of 2012” and awarded the prize of Lithuanian Chamber of Commerce, Industry and Crafts. „It is quite difficult to compete with worldwide giants in of the market for home appliances,“ - states CEO G. Čeika. „However, the results of Snaigė AB in 2012 demonstrate that it is possible“. According to G. Čeika the results are driven by several factors - high-quality product, successful marketing and sales policy, flexibility and reliability of the company.“ AB „Snaigė“ success is in connection with the company interrelation with the Russian business group „Polair“ . First of all the company obtained more confidence taking strategic decisions, such us development of- Snaige Glassy, premium design line of refrigerators, marketing campaign in Ukraine and Moldova, which has tremendous success in terms of sales volume and market share growth. With the help of „Polair“ the company in year 2012 produced and sold 4,9 thousand. commercial refrigerators in Russian market. AB Snaige, being a part of “Polair” group, achieved tangible cost optimization on purchasing some row materials and components. „In 2012 the company accomplished a lot by creating new products and improving the existing ones,“- says G. Čeika. At the beginning of the year we improved refrigerators „Snaigė Ice Logic“, implemented new technologies such as „Touch screen“ electronic control, „Air Active“, air circulation system, „0 ̊C Fresh Zone“ section, presented several new models of freezers.. These refrigerators received positive responses from the customers both in Lithuania and Western and Easter Europe. In 2012 Snaigė AB invested 2 mln LTL to the development of new products and improvement of existing ones. Total investment of the company reached 3 mln LTL. According to unaudited unconsolidated data Snaigė AB reached 148.4 mln LTL of unaudited consolidated turnover and generated 1 mln LTL of unaudited consolidated net profit in 2012. Snaigė AB Managing Director Gediminas Čeika +370 315 56206 |
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