Panevezio Statybos Trestas AB - Notification on material event

Turnover of PST increased by 1.5 times in 2007

Based on preliminary data one of the largest construction companies in the
country Panevėžio statybos trestas (PST) group was on an income of 517 mln.
litas (150 mln. EUR) in 2007 - 1.5 times higher than in the year 2006 and
gained the net profit amounting 30 mln. (8.4 mln. EUR) of. It is more than in
2006 when the profit was 13.5 mln. litas (3.9 mln. EUR). 

Referring to the revised forecasts for 2007, the company planned to reach the
turnover of 470 mln. Litas (136 mln.) and gain the net profit amounting 24 mln.
litas (6.95 mln. EUR).” 

“During the fourth quarter we worked in an organized manner and successfully -
the significant construction sites, such as Kėdainiai Water Treatment Plant and
SPA Impuls in Panevėžys, were handed over ahead of schedule, the extent of
large scope constructions of BIG in Klaipėda and Megrame in Trakai District
continues growing. In addition to these major factors, the early purchase of
some of materials and equipment allowing to control the increase in project
costs, the improvement of qualification and competence of employees also had
impact on exceeding the forecast of the annual net profit by 25 percents.” says
Dalius Gesevičius, the Managing Director of PST. 


About PST

Panevėžio statybos trestas, AB is one of the largest construction companies in
Lithuania. The company is certified in accordance with the international
requirements for quality management and environmental systems. In 2006 the
international prestigious business magazine Euromoney recognized PST as one of
the best companies in Lithuania. In the year 2007 PST was awarded the National
Quality Price for the company‘s policy and strategy as well as for management,
process and resource control, satisfaction of customers' and employees' needs,
etc. In 2007 for the construction of Šiaulių arena PST was awarded the medal of
Product of the Year.” 


For more information contact:
Dalė Bernotaitienė
Finance Director at PST AB
Phone: 8 45 505 507