Snaige AB - Interim information

Snaige, AB consolidated interim financial report for 12 months of 2007 and the preliminary consolidated unaudited results for the year 2007

1. The preliminary consolidated unaudited results for the year 2007

Revenue and other operating income:    LTL 413,54million  (EUR 119.77 million),
Loss before tax:                     LTL  -10.61 million  (EUR - 3.07million), 
Net loss:                              LTL -9.74 million  (EUR -2.82 million),
EBITDA:                                LTL 13.93 million (EUR 4.03 million). 

In the previous year sales revenues of AB „Snaige“ have increased by 16%,
however, the increase was not large enough to cover the incurred losses, which
resulted due to the increasing prices of raw materials and falling dollar
exchange rate. In the previous year due to increased raw material prices and
fall of the dollar exchange rate the company has lost approximately almost 15
million Litas. 

This year AB „Snaige“ started to use financial instruments in order to hedge
against currency exchange risk. 

The previous year profitability was affected by increasing prices of raw
materials which, if compared to 2006, have increased by 11%. In order to avoid
increase in raw material prices the company has started to look for alternative
suppliers and materials, began implementation of various cost cutting and
effectiveness enhancement programs. Such efforts helped at least partially
reduce losses incurred due to the increase in the prices of raw materials. 


2. Snaige AB presents consolidated unaudited interim financial report for
twelve months of 2007 and confirmation of responsible persons (attached). 

Managing Director   
Gediminas Ceika
+370 315 56206

Attachments:

snaige 2007 12 m_eng.pdf

patvirtinimas_eng.pdf