Alytus, Lithuania, 2014-11-28 17:27 CET (GLOBE NEWSWIRE) --
Snaigė AB achieved an unaudited consolidated EBITDA of 6.2MM litas within nine months of the year 2014. The turnover of the company exceeded 115MM litas (according to unaudited consolidated financial results) and was 18% lower compared to the previous year.
According to Gediminas Čeika, Director General of AB Snaigė, the reduction was driven by decreased sales in the Ukrainian market. "Ukraine was one of the largest and most profitable markets for us," said Mr Čeika. "However, we largely managed to compensate for the loss sales in Ukraine in our other markets. Now the Ukrainian part of our sales is significantly reduced and no longer affects the steady development of the company. "
Snaigė AB efforts to maintain stable sales via increases in other markets were very effective with sales increasing by 48% in France, in Poland by 62%, and in Germany by 20% compared to the previous year.
The Company also achieved excellent results in Lithuania where sales increased by 44% compared to previous years. “I am pleased that refrigerators Snaigė are among leaders not only in the markets of France, Germany, Portugal, and other European countries, but also in Lithuanian market", says Mr. Čeika. "Today Snaigė is the second best-selling brand of refrigerators in Lithuania, and some of our products are real bestsellers, remaining at the top of the most-sold list of refrigerators for months."
During the first nine months, the Company introduced its newest products: the A+++ energy class refrigerator that is the most economical class of refrigerator consuming very little electricity, a new freezer with the higher capacity and the higher energy efficiency class refrigerator with No Frost cooling system.
Despite the decline in sales in the strategic market, Snaigė AB remained profitable, and within nine months of this year consolidated unaudited profit amounted to 1.26MM litas.
Gediminas Čeika
Director General, Snaigė, AB
Tel. +370 315 56206
