2008 23 October, Alytus. The only household refrigerators manufacturer in the Baltic countries AB Snaige according to unaudited consolidated data in 2008 third quarter, earned LTL 3.3 million profit before tax. This result is almost three times higher than in the same period during previous year, when the company earned LTL 968 thousand as unaudited consolidated profit. The company's unaudited consolidated EBITDA in third quarter amounted to LTL 9 million and was 29 percent higher than the same period of 2007, when the unaudited consolidated EBITDA amounted to LTL 7 million. According to AB Snaige General Director Gediminas Ceika, 2008 third quarter profit is the result of measures implemented, optimizing of management and production, reducing costs and shaping the outlets. "It is a big achievement to receive a positive, albeit an interim result in economic downturn conditions. This encourages further work in the desired direction, "- says Gediminas Ceika. After restructuring of production, reducing the number of employees and securing bank financing, the company is preparing to begin the next year with much greater performance. During the nine months of this year, AB Snaige reached LTL 279 million unaudited consolidated turnover. Third quarter, the unaudited consolidated loss of AB Snaige decreased to LTL 5.3 million and increased the company's unaudited consolidated EBITDA to LTL 13.4 million. Further information: Gediminas Čeika AB „Snaigė“ General Director Tel. +370- 5315-56206 +370 52357162 www.snaige.lt
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