Snaige AB - Interim information

Sales for Snaigė AB increased by 39% vs. last year with EBITDA ahead by 61% for the same period

Alytus, Lithuania, 2013-08-30 17:26 CEST (GLOBE NEWSWIRE) -- During the first
half year in 2013 Snaige AB achieved turnover of LTL 91.2 million a growth of
39%compared to the previous year. Net profits were 2m LTL, a growth of almost 4
times more than the previous year and EBITDA reached 6.6m LTL a growth of
61%vs. the previous year. 

 Company turnover has increased in almost all important markets with especially
good results in Central Asia (+162%), and France (+161%). The Company exported
its production to almost 30 countries in Europe and Asia with the company's
most important markets remaining the same: Ukraine, Germany, France and Central
Asia. According to Gediminas Čeika, CEO of Snaigė AB those countries reflect
the structure of the entire sales portfolio of the Snaigė Company, i.e.,
balancing between risky and profitable East, and less profitable, but stable
West. 

The CEO of the Company, assessing the results of the first half-year, expressed
his delight with achievements of the Company including the increase in sales:
“We have put a lot of effort in order to maintain the fast growth in sales, and
we are glad because we were successful in increasing our number of clients, and
extending the range produced. We also implemented effective marketing campaigns
in key markets, ensured we increased our capacity when needed, as well as
ensuring the efficient operation  of our Supply Division. The smooth and
effective operation of the company has therefore enabled the excellent results
we are able to present”. 

 Now we are planning not only to increase sales during the third quarter, but
also present to the customers some new products, including a 163 cm freezer, as
well as the hottest product this year which is a fridge-freezer with -with a No
Frost system. According to Gediminas Čeika, clients are really looking forward
to this new product, and we expect it exceed all of our clients expectations
for novelty, functionality and design. 



NB : all turnover and profit information is on the basis of unaudited
consolidated data 


         Gediminas Čeika
         CEO, Snaigė AB
         +370 315 56206

Attachments:

Snaige financial statements 1 half 2013.pdf

Snaige interim report 1 half 2013.pdf

Confirmation.pdf