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VDG: Interim Performance Result for Twelve Months of 2010

Spekuliantai.lt | 2011-02-28 | NASDAQ OMX biržų naujienos | perskaitė: 1091
Raktiniai žodžiai: Vilniaus Degtine AB, VDG
VDG: Interim Performance Result for Twelve Months of 2010

Vilniaus Degtine AB Interim information 28.02.2011

Interim Performance Result for Twelve Months of 2010



Selling income for January-December 2010 of AB Vilniaus degtinė, one of the
largest Lithuanian spirits producers that operates trademarks Sobieski,
Bajorų, Karvedys, Renaissance, etc., decreased by 12.3% compared to the
previous year and amounted to LTL 41,829,018 (EUR 12,114,521); in
January-December 2009 they were LTL 47,678,504(EUR 13,808,649).

In January-December 2010, AB Vilniaus degtinė sold 6,267.6 thousand litres of
spirits, i.e. by 6.9% less than in twelve months of 2009, when sales amounted
to 6,734.2 thousand litres of spirits.

“According to our calculations, Lithuanian vodka market shrank by approx. 13%
in 2010. Dull internal consumption, shadow economy and growing cheap import
from Belarus were key reasons behind such results”, said Mr. Juozas Daunys,
Deputy General Manager for AB Vilniaus degtinė.

In January-December 2010, the Company's loss before taxes amounted to LTL
401,769 (EUR 116,360), meanwhile in 2009 it witnessed a profit of LTL 543,409
(EUR 157,382).

“Complicated situation in the market of strong spirits and raw materials
prevented us from ending the year profitably. The Company's investments into
production processes and expected completion of construction works at the
biogas power station in Obeliai in 2011, together with growing export and
expected expansion of the product range will enable to Company to become more
competitive in both domestic and export markets”, Mr. Daunys said.

In 2010, export of products made by AB Vilniaus degtinė grew by 66.2%. Key
export markets were: Latvia, Estonia, Poland, England, and Israel.



About Vilniaus degtinė:

AB Vilniaus degtinė is one of the oldest and largest spirits producers in
Lithuania. It started operating in 1907, when spirit distillery was opened in
Obeliai township, Rokiškis district.

In 1995, Vilniaus degtinė was reorganised into a special-purpose stock company.
In 2003, over 80% of the Company's shares were purchased by the French group
BELVEDERE S.A., which has joint ventures or subsidiaries in over 25 foreign
countries. Currently, BELVEDERE SA Group owns 150 globally recognised spirits
trademarks.

Vodka accounts for the most part of the Company's production. The most popular
trademarks are Bajorų, Sobieski, and Karvedys. The Company also produces
bitters and liqueurs. Most part of its production is made of natural
ingredients only: nuts, berries, fruits, juice, honey and plants.

Products made by Vilniaus degtinė, which maintain deep Lithuanian spirit-making
traditions, have received many awards for quality and exclusivity of recipes.
They have won multiple gold medals at the Lithuanian Product of the Year
competitions. In 2010, gold medal at the Lithuanian Product of the Year
competition was awarded to Sobieski Platinum, particularly smooth-tasting vodka
filtered through platinum filters.



Juozas Daunys

Deputy General Manager

Phone: (370 5) 2335638


1. VD_InterimStatement_IFRS_2010_ENG.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=337886)
2. Patvirtinimas eng.jpg
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=337874)

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