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Published: 2022-02-25 16:20:00 CET
Snaige
Interim information

The increase in sales for the three quarters did not compensate for the losses caused by higher raw materials, energy and transport prices.

According to unaudited consolidated data, AB SNAIGĖ reached almost LTL 33.5 million in 2021. EUR turnover, i.e. 14 percent higher than the same period last year.
However, more extensive sales did not compensate for increased costs due to higher raw materials, energy, and transport prices. Last year the company earned 0.5 million EUR unaudited consolidated EBITDA.

According to Mindaugas Sologubas, General Manager of AB SNAIGĖ, the rise in prices of raw materials, their shortage and the disruption of the supply chain have negatively affected the quality of sales and the final result of the company.

"Due to the lack of raw materials and their delivery delays, we were unable to place some orders on time. We often have produced what we could, rather than what we needed,"- said M. Sologubas. -"Late payments by some of our customers increased the shortage of working capital. In addition, rising energy costs aggravated the situation in the fourth quarter of last year. It has been increased several times and has become a daunting burden. All of this directly affected the company's results."

However, despite the challenges and difficulties, AB SNAIGĖ is working stably, trying to survive this difficult stage and developing new products and even entering new categories.

In 2021 the company continued to develop its professional and commercial equipment product lines. AB SNAIGĖ has developed new refrigerators for medical purposes that meet the highest industry requirements, including the DIN13277 standard.
Preparations are also underway to produce industrial refrigerators for professional kitchens. The company has already made the first examples of these products.
According to Mindaugas Sologubas, professional and commercial equipment is a strategic direction of the company and
in the future, sales in this segment will account for almost half of SNAIGĖ's total sales.

In 2021, AB SNAIGĖ exported to almost 30 countries in Europe, Asia and Africa. Exports accounted for 91 percent total turnover of the company. The company's most significant foreign sales markets in 2021 were Germany (25%), Ukraine (11%), Norway (7%), Austria (7%) and the Czech Republic (6%).
Sekenora Holdings Limited, a Cypriot investment company, is the main shareholder of SNAIGĖ. SNAIGĖ Group owns two subsidiaries TOB SNAIGĖ UKRAINA and UAB ALMECHA.

Mindaugas Sologubas
General Manager
Tel. 8 652 11997

Attachment



Consolidated interim fiancial statements for 12 mo period ended 31 December 2021 unaudited 2022-02-25.pdf