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2010-10-28 08:18:55 CEST 2010-10-28 08:19:53 CEST REGULATED INFORMATION Snaige AB - Interim informationIn the Third Quarter AB Snaige Alytus Factory Calculated ProfitAccording to unaudited consolidated financial results of 9 months of 2010, AB „Snaigė“ has received revenues of 87.8 m.LTL (25.43 m.EUR) and incurred net loss of 2.4 m.LTL (0.69 m EUR). The same period last year the Company has incurred unaudited consolidated net loss of 33.4 m.LTL (9.67 m EUR). According to director general Gediminas Čeika, results of AB “Snaige” factory in Alytus reflect the Company's activities more accurately than the consolidated results, because the factory in Kaliningrad was closed more than a year ago. Alytus factory during the third quarter, earned 2.5 m.LTL (0.724 m EUR) unaudited non-consolidated profit. Company's director general said he was satisfied with both the third quarter and nine months results. "Snaige in this year is in a far better position than last year, said G.Čeika, last year nine-month unaudited non-consolidated EBITDA (after eliminating the closure of a factory in Kaliningrad loss) was -1.5 m Lt (-0.43 m EUR), but this year it was over than 7 m LTL. The third quarter of this year's non-consolidated unaudited EBITDA was 5 m LTL (1.45 m EUR) where last year over the same period non-consolidated unaudited EBITDA amounted to 1.5 m LTL (0.45 m EUR). This is perfectly illustrates significant Company's performance improvement. These encouraging results, according to G. Čeika are the outcome of an excellent work and dedication of all Snaige employees. After the Company partial lost the Russian market, it didn't give up and looked for the other opportunities. Export of refrigerators under the brand Snaige was started to Uzbekistan and Tajikistan; it was also renewed trade with Kazakhstan and established commercial relations with several new clients in France, Germany and Spain. Also, the most economical refrigerators of A++ category with the minimum power consumption were successfuly launched in Lithuania, Moldova, Czech Republic, Ukraine, Germany and other markets. The consolidated non-audited financial statements for 9 months of 2010 and the confirmation of accountable persons (attached). Managing Director Gediminas Čeika +370 315 56206 |
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