Vilnius, Lithuania, 2012-02-29 17:00 CET (GLOBE NEWSWIRE) -- Based on preliminary unaudited results Company‘s sales over year 2011 accounted to LTL 700.9 million (EUR 203.0 million) or 13% better compared to the sales of LTL 620.3 million (EUR 179.7 million) resulted in the year 2010. Increased demand in export markets had the major impact on Company’s financial results in the year 2011. Export sales increased by 20% and generated proceeds of LTL 382.6 million (EUR 110.8 million) compared to LTL 319.3 million (EUR 92.5 million) a year ago and accounted to 54.6% of total proceeds over the period.
Company’s EBITDA in the year 2011 accounted to LTL 66.5 million (EUR 19.3 million) and increased by 3.9% compared to EBITDA of LTL 64.0 million (EUR 18.5 million) a year ago. Over the year 2011 Company earned a net profit of LTL 25.7 million (EUR 7.4 million) which increased by 39% compared to a net profit of LTL 18.5 million (EUR 5.4 million) in 2010. This year, similar to last year, profits were generated mainly due to successful exports.
In the year 2012 the Company expects sales grow of about 5% and expects to maintain profitability in the same level as in 2011. In order to achieve these targets Company’s Board approved investments in the year 2012 over LTL 40 million (EUR 11.6 million). All investments planned to the further modernization of production equipment and raw milk collection system to achieve further improvement of production quality.
Audrius Statulevicius
CFO
(+370 5)246 1419
