Vilniaus Degtine - Notification on material event

Changes in the senior management of Vilniaus degtinė, AB

Vilnius, Lithuania, 2016-07-01 14:04 CEST (GLOBE NEWSWIRE) -- French concern
Marie Brizard Wine & Spirits (MBWS), which controls 77,44 percent of shares in
Vilniaus degtinė (indirectly 68,29, directly 9,15), announced to have fulfilled
any and all obligations to their creditors five years earlier than it was
previously planned and are now to proceed to the phase of sustainable and
profitable growth. 



Last year the sales revenue of Vilniaus degtinė totaled 21 million EUR, i.e.
9.7 percent more than in 2014, when production was sold for 19.1 million EUR.
EBITDA (earnings before interest, taxes, depreciation and amortization) in 2015
totaled 2.35 million EUR, i.e. 19.4 higher than the year before. 



MBWS Concern have optimized the management of the group of undertakings and as
of 1 July 2016 appointed Juozas Daunys to hold key position of the President of
the Board of MBWS Polska. Juozas Daunys remains the Chairman of the Board of
Vilniaus degtinė. 



As of 1 July in the CEO’s position at Vilniaus degtinė Juozas Daunys is
replaced by Dovilė Tamoševičienė, former CFO of the company, who will also be
responsible for the activities of the Group in the Baltic countries. 



Darius Šiaudinis, who has been running the marketing department of Vilniaus
degtinė for five years, has been recently appointed to hold key position of a
regional marketing director for Western Europe and Africa at MBWS Group and
transferred to work in Madrid, Spain. At Vilniaus degtinė he was replaced by
Rytis Girčys. 



General Manager

Dovilė Tamoševičienė, 852330819