Snaige - Interim information

Snaigė AB, consolidated interim financial information for the nine months of 2017

The consolidated unaudited sales revenue of  Snaigė AB exceeded 30 million EUR within the first three quarters of this year, which is slightly less if compared to the same period last year.The company’s EBITDA was 1.6 million EUR (according to consolidated unaudited data) i.e. 56% less than in the same period last year.

According Gediminas Čeika, the Director General of Snaigė AB, this year was comprised of many challenges. „Prices of most raw materials increased, however the price of the products remained at the same level in almost all markets of the company. That influenced our results inevitably”, stated Mr. G. Čeika. „Many manufacturers of refrigerators, including Chinese manufacturers, have announced on the increase of products price by the end of a year. Thus we anticipate more balanced results of or sale income and EBITDA”.

Snaigė exported its products to more than 30 European and Asian countries within 3 quarters of this year. The company‘s largest markets in terms of income were Germany, France, Ukraine, Lithuania and the Czech Republic. While the largest increase of income, if compared to the previous year, was in Norway, Portugal, Kazakhstan, Russia and Ukraine.

The company implemented two lines of refrigerators of new design. New refrigerators shall arrive to the shops and fascinate the customers in 2018 already.

         Director General of Snaigė AB
         Gediminas Čeika
         +370 315 56206

Attachments:

Snaige financial statements for 9 months 2017 with confirmation.pdf