AB Vilniaus degtinė: interim business activity result for first 3 months of 2012
In January-March 2012, income earned by AB Vilniaus degtinė from sales increased 20.6 percentage points compared to the same period in 2011. In 2012 the January-March income from sales was 11,453,945 LTL (3,317,292 EUR), whereas in 2011 the January-March income from sales was 9,499,241 LTL (2,751,170 EUR).
In January-March 2012, AB Vilniaus degtinė sold 1,711,800 litres of alcoholic beverages, which is 23.7 percentage points more compared to the same period in 2011 (in January-March 2011 it sold 1,383,500 litres). In January-March 2012, exports grew 89.2 percentage points compared to the same period in 2011. Most of the company’s exports go to Latvia, Estonia, Israel and Denmark. This year the company began exporting its products to China and Morocco.
In January-March 2012, AB Vilniaus degtinė incurred pre-tax losses of 373,972 LTL (108,310 EUR), while in 2011 pre-tax losses were 717,456 LTL (207,790 EUR). In January-March 2012, EBITDA (earnings before interest, taxes, depreciation and amortisation) amounted to 545,000 LTL (157,800 EUR), which was an increase of 49.1 %, compared with 365,600 LTL (105,900 EUR) in 2011.
“This year’s growth rate of 20.6 % so far is due to the slowly recovering Lithuanian market, the rapid growth of exports and effective work with our range of products. In the first quarter of 2012, the rapid growth of domestic sales was due to the new style Bajorų vodka. We also introduced Obelių pirmo varymo ruginė (‘Obelių First Distillation Rye Spirit’) and Apernac bitters in 2011”, said the head of the company, Juozas Daunys, commenting on sales results.
Presenting some plans for this year, Mr Daunys continued: “Sales have grown significantly, but business activity results have not improved as much as we would have liked due to more expensive raw materials, the cost of energy and an unfavourable situation in the ethyl alcohol market. This year we plan to concentrate our efforts on completing the co-generation electric power project at the Obelių Distillery, investing more into creating new and profitable products, completing the roll-out of the LEAN system, optimising our activities and continuing to expand our exports”.
Juozas Daunys
General Manager
+370 614 69996
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