Utenos Trikotazas AB - Interim information

Financial statements of 2011

Consolidated Group operating profit for 2011 reached LTL 3.2 million (EUR 0.9
million), 21.7% less than during the same period in 2010 (2010 - LTL 4.1
million (EUR 1.2 million)), and the Group earned LTL 0.9 million (EUR 0.3
million) of pre-tax profit, as in the same period in 2010 the Group reported
LTL 3.3 million (EUR 1.0 million) profit before taxes. 

AB "Utenos trikotažas" incurred LTL 5.5 million (EUR 1.6 million) of operating
loss for 2011, as in the same period in 2010 the Company earned LTL 3.0 million
(EUR 0.9 million) operating profit. The Company incurred LTL 7.6 million (EUR
2.2 million) of pre-tax loss, as in the same period in 2010 earned LTL 0.9
million (EUR 0.3 million) profit before taxes. Company results were negatively
impacted by LTL 7,7 million as additional write-offs were made for investments
and receivables from subsidiary OAO "MTF Mrija", which amounted to LTL 6.2
million and LTL 1.5 million respectively. It is important to note, that it
virtually had no effect on the Company cash flows. 

The consolidated Group results (precisely financial activity) were positively
impacted by LTL 0.2 million (EUR 0.1 million) in 2011 due to Ukraine currency
exchange rate (UAH) fluctuation, as in the same period in 2010 the foreign
exchange influence was positive and reached LTL 1.8 million (EUR 0.5 million).
It is important to note, that it virtually had no effect on the Company or
Group cash flows. 

In order to accurately report the value of non-current assets and results,
equipment depreciation rates and depreciation costs were retrospectively
revised and adjusted in financial statements. Due to adjustments, consolidated
Group and the Company profit for the year 2010 was improved by LTL 2.4 million
(EUR 0.7 million) and LTL 1.7 million (EUR 0.5 million) respectively, assets
value was improved by LTL 5.5 million (EUR 1.6 million) and LTL 4.2 million
(EUR 1.2 million) respectively. "Lower Group operating profit compared to 2010 was resulted, as it was
previously commented, by the lower sales level in the second half of the year.
It should be noted, that the last year was successful to our subsidiary AB
Šatrija - during  2011th  AB Šatrija posted LTL 1.2 million of operating
profit, as in the same period in 2010th it earned LTL 0.6 million. Orientation
to manufacturing of exceptionally technologically complex assortment, such as
fire brigades protective clothing, mountain climbers' expeditions clothing,
military uniforms, was the main factor behind good results. "- says AB “Utenos
Trikotažas” Managing Director Gintautas Bareika. 

For more information please contact Mr. Gintautas Bareika, Managing Director of
AB Utenos trikotažas, tel. No. 370 389 51445 or Mrs. Ernesta Dapkienė, Public
Relations Manager of Concern SBA, phone No. 370 611 43548. 

I, the undersigned, confirm that the above information is complete and true.

Managing Director AB Utenos trikotažas                                         
       Gintautas Bareika

Attachments:

Confirmation of responsible persons.pdf

Consolidated interim financialmstatements.pdf