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2008-02-29 16:21:10 CET 2008-02-29 16:22:11 CET REGULATED INFORMATION Snaige AB - Interim informationSnaige, AB consolidated interim financial report for 12 months of 2007 and the preliminary consolidated unaudited results for the year 20071. The preliminary consolidated unaudited results for the year 2007 Revenue and other operating income: LTL 413,54million (EUR 119.77 million), Loss before tax: LTL -10.61 million (EUR - 3.07million), Net loss: LTL -9.74 million (EUR -2.82 million), EBITDA: LTL 13.93 million (EUR 4.03 million). In the previous year sales revenues of AB „Snaige“ have increased by 16%, however, the increase was not large enough to cover the incurred losses, which resulted due to the increasing prices of raw materials and falling dollar exchange rate. In the previous year due to increased raw material prices and fall of the dollar exchange rate the company has lost approximately almost 15 million Litas. This year AB „Snaige“ started to use financial instruments in order to hedge against currency exchange risk. The previous year profitability was affected by increasing prices of raw materials which, if compared to 2006, have increased by 11%. In order to avoid increase in raw material prices the company has started to look for alternative suppliers and materials, began implementation of various cost cutting and effectiveness enhancement programs. Such efforts helped at least partially reduce losses incurred due to the increase in the prices of raw materials. 2. Snaige AB presents consolidated unaudited interim financial report for twelve months of 2007 and confirmation of responsible persons (attached). Managing Director Gediminas Ceika +370 315 56206 |
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