Snaige - Interim information

Snaigė AB, not audited financial results for the first three months of 2016

Alytus, Lithuania, 2016-05-27 16:26 CEST (GLOBE NEWSWIRE) -- Snaige AB  in the
first quarter of this year earned EUR 438 thousand EBITDA (unaudited
consolidated data ) which is 36 percent  more than last year, during the same
period. 

According to Snaige CEO Gediminas Čeika, although the first quarter for
refrigerator manufacturers and sellers is  always the slowest , "off-season",
better results have been achieved by the sale of more expensive and profitable
products in more profitable markets. 

G. Čeika does not expect any dramatic changes in the cooling sector this year. 
However he has concerns that some of the Turkish manufactures, which had some 
loss in Russian market,  and Chinese manufacturers,  due to weakening dollar
may begin reducing their prices also in „Snaige“ markets. 


         Director General of Snaigė AB
         Gediminas Čeika
         +370 315 56206

Attachments:

Snaige financial statements 2016 Q1 with confirmation.pdf