Snaige AB - Interim information

SNAIGĖ in the first 9 months reached 6 time higher profit

Alytus, Lithuania, 2012-11-29 13:35 CET (GLOBE NEWSWIRE) -- In the first 9
months of 2012 AB “Snaige” reached almost 21% higher turnover (unaudited,
unconsolidated results) than the same period last year at more than LTL 112.8
m. 

EBITDA (unaudited unconsolidated) in the nine months was also 24% higher than
the previous year and exceeded LTL 9.7 m. The company also generated LTL 3.2 m.
unaudited, unconsolidated profit which is 6 times more than the same period
last year. 

 According to Gediminas Čeika, CEO, these results were achieved by a focus in
the main on the more profitable markets with particular success in Ukraine
where sales were ahead by 56% compared with the previous year for the same
period. 

 “This development was caused by a number of factors” - says G. Čeika - “the
first is the national advertising campaign in Ukrainian. In addition, we
started to work with few significant Ukrainian home appliances and the regional
wholesaler.” 

 The successful marketing campaign in Ukraine has not only grown the sales, but
also significantly strengthened Snaige‘s brand position in this market. In
September we held 6.8% of the refrigerators category in the Ukrainian market
and are now one of the market leaders. 

 „We also achieved strong results in Germany, during the first nine months of
this year. The company has exported over 20,000 refrigerators” - said G. Čeika
- “Part of this growth was due to the trade with “Severin” and a new client
„Bomann“. 

 The company has worked successfully in other European markets too. For
example, sales in Poland grew by 8%, 7% to the Czech Republic, Hungary - 9%. 

 AB Snaige CEO G. Čeika welcomes the results of the Q3. “I am proud of the AB
Snaige achievements and our team work. Our goal is to keep achieved sales and
profitable results. We are already planning next year's investment programmers,
trade and marketing strategies. We will focus on our customers. We will
introduce a number of new products, new features, and properties”. 


         AB “Snaigė” CEO
         Gediminas Čeika
         +370 315 56206

Attachments:

Snaige 2012_IIIQ_statements_with_confirmation.pdf