Utenos Trikotazas - Interim information

Financial Statement for the I quarter of 2016

Group Utenos trikotažas has earned 94 thousand Euros of operating profit

Utena, Lithuania, 2016-04-29 15:30 CEST (GLOBE NEWSWIRE) -- Consolidated sales
of AB Utenos Trikotažas Group for the I quarter of 2016 reached EUR 5.0
million, 14.4 % more than during the same period in 2015. 

AB Utenos Trikotažas sales for the I quarter of 2016 reached EUR 4.2 million,
16.1 % more than during the same period in 2015. 

Operating profit of AB Utenos Trikotažas Group for the first quarter of 2016
was EUR 94 thousand, as in the same period in 2015, the Group has suffered EUR
50 thousand of operating losses. The Group has suffered loss amounting to 50
thousand Euros before tax whereas the sum of suffered losses before tax in 2015
amounted to 486 thousand Euros. 

AB Utenos trikotažas incurred EUR 31 thousand of operating loss for the first
quarter of 2016, as in the same period in 2015 the Company incurred EUR 146
thousand of operating losses. The Company has suffered 54 thousand Euros of
loss before tax, whereas the suffered loss before tax in 2015 amounted to 175
thousand Euros. 

“Investment in the upgrading programme in 2015, in particular, the purchase of
the only in the Baltic countries digital printing equipment, has enabled the
company to expand the range of its production capabilities and to attract new
customers and orders,” comments the performance Chief Executive Officer of AB
Utenos trikotažas, Eimundas Mačiulis. “There has been a significant increase in
sales of higher value added products, which means that we have succeeded to
maintain the strategic area over the past year – to offer innovative and
customised solutions to the continuously increasing number of target clients.” 

Performance during the first months of 2016 was positively influenced by own
brand sales. “For example, I quarter sales of About and Utenos trikotažas,
compared to the previous year, has grown by more than 50 percent,” says pleased
E. Mačiulis. 

Over the year, the company produces more than 9 million meters of materials and
sews over 3 million pieces of clothing. 90 percent of the company's goods are
exported, mainly, to Germany, Austria, Sweden, and Switzerland. 

AB Utenos trikotažas is one of few textile enterprises with a complete
vertically integrated production cycle and capable of offering its clients a
full range of services – from manufacture of yarn and materials required to a
final product. 

For more details on the material event, please contact Eimundas Mačiulis, Chief
Executive Officer of AB Utenos trikotažas, by tel. +370 389 51445. 



Chief Executive Officer    AB Utenos trikotažas Eimundas Mačiulis

Attachments:

Confirmation of responsible persons.pdf

Interim financial statements 2016 IQ.pdf