AB „SNAIGĖ“ - NASDAQ OMX Baltic

Consolidated annual report for year 2008
2.9.6 Company’s business overview for 2008
During year 2008 AB “Snaigė” has sold over 523 thous. refrigerators. Sales revenues have reached 339 m.
LTL which is 17 percent less than in year 2007. Smaller sales revenues were result of decrease in overall
consumption in almost all Company’s sales markets and currency devaluation in Russia and Ukraine.
According to the importance of sales markets and geographical segmentation the company divides it sales
markets into following groups: Baltic States market (Lithuania, Latvia, and Estonia), Eastern market (Russia,
Ukraine, Kazakhstan, Uzbekhistan, over countries of CIS), Western market (Germany, France, Belgium,
Holland, Poland, Portugal, Czech Republic, other Western and Central Europe countries).
During 2008 AB “Snaigė” has sold most of its production in Eastern markets – the sales share amounted to
55%, total revenue of 195 m.LTL were received from the region. Devaluation of local currencies at the end of
2008 resulted in dropping sales in Eastern market, thus, if compared with 2007, the comparative weight in
total sales have decreased by 22%. 41% of Company’s production was exported to Western markets, sales
revenues from the region have reached 118 m.LTL. The share of sales in Western Europe relatively to total
sales have increased by 6%, as economic downturn has affected Western Europe countries less dramatically
then in Eastern Europe. The remaining revenues part of 4% was from sales in Baltic States markets, were
sales revenues have reached 14.1 m.LTL.
The Baltics
In Baltic states during year 2008 AB “Snaigė“ has in total sold 24 thous. refrigerators and has received sales
revenues of 14.1 m.LTL. Due to high inflation in the beginning of the year and growing economic instability
the purchases of household appliances, including refrigerators, were decreasing.
The sales of large household appliances have decreased significantly, when compared with year 2007. Sales
of AB “Snaigė” in the region have halved.
In Lithuania during year 2008 AB “Snaigė“ has sold almost 15 thous. refrigerators, sales revenues have
reached more than 9.1 m.LTL. In Lithuania the company had market share of 12%.
In Latvia during year 2008 over 5 thous. Refrigerators were sold, sales revenues have reached almost
3 m.LTL.
In Estonia during year 2008 AB “Snaigė“ has sold almost 4 thous. refrigerators, sales revenues reached
2 m.LTL.
Prepared by UAB FMĮ „Orion Securities“ p. 24