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2009-08-31 16:39:18 CEST 2009-08-31 16:40:20 CEST REGULATED INFORMATION Vilniaus Degtine AB - Interim informationVilniaus degtinė AB 2009 six months results, interim financial and interim reportsOne of the biggest Lithuanian producers of strong drinks AB „Vilniaus degtinė“, owning such trademarks as „Sobieski“, „Bajorų“, „Karvedys“, etc., demonstrated loss before tax during the first six months of this year - 278,3 thousand Litas (80,6 thousand EUR). During the same period last year the results of the company were 38,3 thousand Litas (11,1 thousand EUR)profit before tax. The company's income from sales in January-June 2009 amounted to 23,9 million Litas (6,9 million EUR)- 20,5 percent less than during the same period in 2008 (30,1 million LTL (8,7 million EUR)). During the first six months the company sold 2949,1 thousand liters of strong drinks - 30,4 percent less than during the same period in 2008 (4 236,8 thousand liters). During the second quarter of 2009 the company earned 569,9 thousand Litas (165 thousand EUR) profit before tax. The loss, recorded in the end of the first six months, was determined by the activities of the first quarter, where 848,2 thousand Litas loss was incurred. The biggest part thereof - even 828,7 thousand Litas (245,7 thousand EUR) - was the redundancy pay and compensation for leave including the social insurance tax, paid to the employees, who left the company. The main factor, which has determined the drop in sales and detrimental activities, is the second year in a row increased excise tax on strong drinks in Lithuania as well as illegal alcohol sales on the “black” market increased as a result thereof. The company expects to increase the sales after launching two brand new original products on the market: „Sobieski“ with coffee and „Sobieski“ with olives. The company only uses natural coffee and olive ratafia, moreover, only real coffee beans and olives are added to every single bottle. The managers of the company expect higher sales of „Sobieski“ vodka, since the French company Belvedere S.A., owning „Vilniaus degtinė“ and „Sobieski“ trademarks, has signed the contract with the actor Bruce Willis, under which the latter will appear in the advertisements of the new campaign all over the world. During the first six months the sales on the export markets, the biggest part whereof has been sold to the European Union countries, have been increasing by over 15% as well as reached 1,58 million Litas (0,46 million EUR) (during the same period last year - 1,37 million Litas (0,4 million EUR)). Today or 31 August 2009 AB “Vilniaus degtinė” and Public Organization „Lithuanian Business Support Agency“ signed the contract concerning 9,992 million Litas (2,9 million EUR) financing to „Vilniaus degtinė“ project „The use of spillage for electricity production“ according to the European Union Structural support application strategy of Lithuanian for 2007 - 2013 and Cohesion incentive action program means “Use of renewable energy resources for generation of energy“. Irrespective of decreasing market capacity and sales, the company has optimized its activities and it is planning to close the Year 2009 with profit. Please find Vilniaus degtinė AB 2009 six months interim financial report and interim report attached. Renaldas Barauskas / Deputy Managing Director Phone: 8 5 233 56 38; E-mail: renaldas.barauskas@degtine.lt Audra Jauniškienė / Director of Finance and Administration Phone: 8 5 213 31 52; E-mail: audra.jauniskiene@degtine.lt |
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