Snaige
SNAIGĖ in the first 9 months reached 6 time higher profit
Snaige AB 29.11.2012 13:35 --------------------------------------------------------------------------- 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 News Source: NASDAQ OMX 29.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Snaige AB Lithuania Phone: Fax: E-mail: Internet: ISIN: LT0000109274 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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