SNAIGĖ AB information for the ordinary General Shareholders Meeting SNAIGĖ AB is providing the audited Company’s financial statements for 2021, the Auditor’s report, the annual report and the project of distribution of profit (loss) for the ordinary General Shareholders Meeting of the Company which will be held on 29 April 2022. The Company's shareholders are invited to participate in the ordinary General Shareholders Meeting and vote on the agenda items in writing, by filling voting ballot in advance and submitting to the Company (by address Pramones str. 6, Alytus, Lithuania. The document confirming the right to vote must also be sent together with voting ballot. Based on the COVID-19 morbidity rates in the country it is recommended to firstly consider the possibilities of receiving the General Voting Ballot and advance voting remotely, and to come to the Company's office only in exceptional cases when there is no other possibility. According to audited 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 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.
The company has developed and manufactured the first examples of industrial refrigerators for professional kitchens. Their series production will start in 2022.
According to Mindaugas Sologubas, professional and commercial equipment is a strategic direction of the company. In the future, this segment's sales will account for almost half of all sales of SNAIGĖ. The company plans to expand its medical refrigeration equipment further: there will be more refrigerator models for storing medicines and preparations, and we will introduce refrigerators to laboratories. There will be more modifications and a line of professional kitchen refrigerators. 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. +370 652 11997
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