AB „SNAIGĖ“ - NASDAQ OMX Baltic

Consolidated annual report for year 2008
October 31, 2008, Notifications on transactions concluded by managers of the companies 31.10.2008
Notification on transactions concluded by managers of the Company
Notification on transactions concluded by managers of the Company
October 27, 2008, AB Snaige the third quarter earned LTL 3.3 million 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.
October 20, 2008, Notifications on transactions concluded by managers of the companies 20.10.2008
Notification on transactions concluded by managers of the companies
Announcement about the executive officer's transaction of the Company’s securities.
October 6, 2008, AB „Snaigė“ will reorganize manufacturing and will reduce operational costs
The only domestic refrigerators manufacturer in the Baltic states AB „Snaigė“ will implement radical means
in order to increase efficiency of management of the company and reduce manufacturing costs.
According to the director general of AB „Snaigė“ Gediminas Čeika, these changes are determined by the
decreasing consumption of products in company‘s strategic markets.
„In the situation there the prices of raw materials, financial and energy resources are constantly rising and
consumption is falling, we have to admit that profitability of company‘s operations can be achieved by
radically decreasing operational costs and optimizing manufacturing processes. We will produce less, but
more efficiently and more profitably“ - said Mr. Čeika.
According to Mr. Čeika, operation expenses will be decreased not only by saving and more strict control of
company‘s spending, but also by decreasing number of employees. The company plans to eliminate functions
with are unnecessary and not related to main operations of the company. The number of employees in the
Alytus factory will be decreased by approx. 300 and in Kaliningrad factory by approx. 180.
Mr. Čeika has stressed that AB „Snaigė“ will create all possible opportunities to alleviate social consequences
of the workforce cut. According to him, the special work group will be formed in the company responsible
for the issue. „We will invite representatives of Lithuanian labor exchange and training centres which will
consult our employees. Also AB „Snaigė“ will inform other companies of Alytus region about qualification
and position of the fired employees and will mediate in the process of re-hiring“, - said Mr. Čeika.
September 23, 2008, CORRECTION: Snaige AB financial accounts and interim report for the period of first
half of 2008
We provide AB “Snaige” consolidated financial reports for the 1st half of 2008 prepared in compliance with
34 article of IFRS (Profit (loss) account has been supplemented).
Prepared by UAB FMĮ „Orion Securities“ p. 75