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2012-03-02 18:34:24 CET 2012-03-02 18:35:25 CET REGULATED INFORMATION Snaige AB - Interim informationUnconsolidated unaudited EBITDA of „Snaigė“ for 2011 achieved LTL 9.3 millionAlytus, Lithuania, 2012-03-02 18:34 CET (GLOBE NEWSWIRE) -- For AB „Snaigė“ 2011 became a year of significant achievement and great opportunities. Last year Company sold over 175k refrigerators. The largest proportion was exported to 30 countries in Europe and Asia. Key sales were in Germany, Ukraine, France and Portugal. The Company significantly stepped up its sales positions in Ukraine started trading with one of the most important Ukrainian household appliances retailers - "Eldorado". Also after a few years break "Snaigė" refrigerators again were exported to Russia and Belarus. According to CEO Gediminas Čeika in 2011 the Company also has several positive achievements which will have a positive effect on the future of the business. The most important one was introduction of strategic investor. “Polair” a Russian manufacturer of industrial refrigeration equipment acting indirectly through the “Vaidana” UAB, acquired 23,716,668 ordinary shares amounting 59,86% of all shares and votes given by the general meeting of shareholders of the Company. According to CEO Gediminas Čeika, 2011 the company put a lot of effort into creating new products and improving existing ones. “In June, we manufactured a new premium class refrigerator with glass doors - Snaigė Glassy“, said G. Čeika. “These refrigerators have received a lot of attention both from Lithuanian consumers and from consumers in Western Europe, and at the end of the year they were awarded by golden medal in the annual "Lithuanian product of the Year" Competition said G. Čeika.„We have created a new refrigerator RF35 with increased freezer section, which within a short time became one the best selling product of AB "Snaigė" in Baltic and Eastern markets. The company participated in one of the most important household appliances exhibitions in Europe - the IFA 2011, where there was an extremely positive assessment by customers and partners.” Unconsolidated unaudited EBITDA of the Company for 2011 totaled LTL 9.3 million which is clearly a positive performance for the Company. AB “Snaigė” incurred a consolidated unaudited loss of LTL 0.53 million. According to Gediminas Čeika, „Snaigė“ AB CEO , due to foreign currency exchange fluctuations, „Snaigė“ AB had revaluated debts from the closed factory in Kaliningrad. For these reasons the Company lost LTL 5,6 million. “However, this revaluation of the paper debt is unrelated to the activities of the Company and should be eliminated in assessing the annual results of the company.“- said G. Čeika. Due to damage and repair of the factory roof, the Company wasn‘t able to sell the Kaliningrad plant last year. Currently, the Company is actively negotiating with potential buyers of factory in Kaliningrad and in 2012 expects revenue from this sale. AB “Snaigė“ during the 2011 reached 111,1 million. Lt unaudited consolidated turnover and suffered a consolidated unaudited loss of 5 million. Managing Director Gediminas Čeika +370 315 56206 |
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