Pieno Zvaigzdes AB - Interim information

Pieno zvaigzdes AB, not audited financial results for the first three months of 2011

Vilnius, Lithuania, 2011-05-31 17:00 CEST (GLOBE NEWSWIRE) -- 

Based on preliminary unaudited results Company‘s sales over three months in
2011 accounted to LTL 165.3 million (EUR 47.9 million), 33% better compared to
a year ago, Sales resulted in LTL 124.4 million (EUR 36.0 million) over three
months in 2010. Both increasing product sales prices and high demand in export
markets had the major impact on Company's financial results in 2011. Export
volumes increased by 33% and generated proceeds of LTL 87.5 million (EUR 25.3
million) compared to LTL 53.8 million (EUR 15.6 million) a year ago and
accounted to 53% of total proceeds over the period. 



Over the three months of the year Company's EBITDA accounted to LTL 17.1
million (EUR 4.9 million), the Company earned a profit of LTL 6.7 million (EUR
1.9 million) compared to a loss of LTL 4.4 million (EUR 1.3 million) over same
period in 2010. This year, similar to last year, profits were generated only
due to successful exports. 



The Company‘s Board is positive of financial result reached over the three
months in 2011 taking into account untypically high raw milk price and
difficulties in the domestic market coupled with constant implementations of
cost optimisation programs and maintained stable level of financial debt. 





Audrius Statulevicius

CFO

(+370 5)246 1419

Attachments:

2011_1q_PZ_report_OMX_en.pdf