“Snaigė“ AB , by unaudited consolidated data, reached revenue of LTL 169 million ( EUR 49 million) in the first half of 2008, that is 6% lower than last year, when unaudited consolidated revenue was LTL 180.4 million (EUR 52.25 million). According to Gediminas Čeika, the Managing Director of AB “Snaigė“, the decreace of first half of 2008 was influenced by economic slowdown in some of company´s strategic trade markets. „We and our clients felt changing consumer behavior through the entire first half of the year: due to growing inflation and economic instability, consumer mainly refuses and postpones the purchase of large home appliance for better times,“-says G. Čeika. “Snaigė“ AB escaped sales slowdown in some Western European countries and Russia. Revenues grew 6% in Russian market. Company had unaudited consolidated net loss of LTL 8.6 milllion (EUR 2.5 million) in the first half of 2008. According to G. Čeika, the General Manager, the loss in the first half of the year was influenced not only by declined sales but also by increased raw material costs and expensive loans for operating capital. Company also had losses due to fluctuating dollar rates. This loss was acquired from Kaliningrad factory in Russia controled by AB “Snaigė“, and where there are no financial instruments to insure oneself against the losses from currency fluctuations. Company had a net loss of LTL 1.26 million (EUR 0.36 million) in the last year's first half. By the consolidated unaudited statement, AB “Snaigė“ EBITDA was LTL 4.4 million (EUR 1.3 million) in the first half of 2008, compared to LTL 11 million (EUR 3.2 million) in the first half of 2007. ”During the second quarter this year we reached 1,6 times larger EBITDA than during the first quarter. That shows positive indicators of direct activities of the company”,- says Gediminas Čeika Managing director Gediminas Ceika +370 315 56206