Vilnius, Lithuania, 2011-11-29 17:00 CET (GLOBE NEWSWIRE) -- Based on preliminary unaudited results Company‘s sales over nine months in 2011 accounted to LTL 524.4 million (EUR 151.9 million), 15.6% better compared to a year ago. Sales resulted in LTL 453.6 million (EUR 131.4 million) over nine months in 2010. Increased demand in export markets (especially in first quarter of 2011) had the major impact on Company’s financial results in the first nine months of 2011. Export sales increased by 26% and generated proceeds of LTL 281.7 million (EUR 81.6 million) compared to LTL 224.3 million (EUR 65 million) a year ago and accounted to 53.7% of total proceeds over the period.
Over the nine months of the year 2011 Company’s EBITDA accounted to LTL 51.0 million (EUR 14.8 million), the Company earned a net profit of LTL 20.2 million (EUR 5.9 million) compared to a net profit of LTL 9.8 million (EUR 2.8 million) over same period in 2010. This year, similar to last year, profits were generated mainly due to successful exports.
The Company‘s Board is positive of financial result reached over the nine months in 2011. The Board decided to maintain the initial forecast for the whole year 2011. Expected sales for whole year close to LTL 700 million (EUR 200 million), expected EBITDA profitability around 11% and net margin around 4%.
Audrius Statulevicius
CFO
(+370 5)246 1419
