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VDG: AB ,,Vilniaus degtinė" the results of the first half-year of 2011

Spekuliantai.lt | 2011-09-01 | NASDAQ OMX biržų naujienos | perskaitė: 1193
Raktiniai žodžiai: Vilniaus Degtine AB, VDG
VDG: AB ,,Vilniaus degtinė" the results of the first half-year of 2011

Vilniaus Degtine AB Interim information 01.09.2011

AB ,,Vilniaus degtinė" the results of the first half-year of 2011

In January-June 2011, sales income of AB Vilniaus degtinė dropped down by 1.8
p.p. compared to the same period last year. Sales income of January-June 2011
amounted to LTL 19,439,442 (EUR 5,630,052), meanwhile in January-June 2010 they
were LTL 19,785,712 (EUR 5,730,338).

In January-June 2011, AB Vilniaus degtinė sold 3,106.9 thous. litres of strong
drinks, which was by 5.7 p.p. more compared to the respective period last year
(2,939.3 thous. litres in January-June 2010). The Company's sales in the
domestic market remained almost unchanged, meanwhile export grew by as much as
214 %.

In January-June 2011, the Company incurred losses before taxes amounting to LTL
1,166,014 (EUR 337,701), an in January-June 2010 it earned profit before taxes
amounting to LTL 146,229 (EUR 42,351).

“Prices of key raw materials that have been growing in recent years,
non-shrinking shadow economy and weak domestic consumption affected selling
volumes and profitability of the products manufactured by the Company”, the
Director General Mr. Juozas Daunys was naming the reasons of such performance
results.

According to the Director General for AB Vilniaus degtinė, increasing operating
effectiveness and export expansion will remain the Company's priorities. To
reduce production costs and increase operating effectiveness, in 2011 the
Company started implementing LEAN processes for effective use of raw materials.

“We expect effective management of production processes and rapid growth of
export to compensate shrinking of the domestic market. In 2011, the Company has
expanded its production export to new markets of China, Norway, and Bulgaria
and has managed to increase volumes of export to Latvia, Poland, and Denmark”,
Mr. Daunys commented.

In 2011, the Company has expanded Sobieski-branded product range and launched a
new product Sobieski LIKE entailing alcoholic drinks developed under recipes of
the most popular cocktails. At the time being, Sobieski LIKE Mojito, Sobieski
LIKE Long Island and Sobieski LIKE *** on the beach are available in the
market.



About Vilniaus degtinė:

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

In 1995, Vilniaus degtinė was reorganised into a special-purpose stock company.
In 2003, over 80% of the Company's stocks were purchased by the French group of
companies BELVEDERE S.A. that has joint ventures or subsidiaries in over 25
foreign countries. At the moment, BELVEDERE S.A. Group owns 150 globally known
alcohol brands.

Vilniaus degtinė that has preserved old Lithuanian production traditions is the
holder of the following brands: Sobieski, Bajorų, Karvedys, Renaissance, Damų
likeris, Čepkeliai. The Company's products have won multiple awards for their
quality and uniqueness of their recipes. AB Vilniaus degtinė exports its
production to Latvia, Estonia, Poland, France, Denmark, Spain, and England.



Juozas Daunys

Director General for

AB Vilniaus degtinė


1. Picture_419.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=361124)
2. Interim_Performance_Vilniaus degtine_6 months_2011.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=361122)
3. Interim_Statement_Vilniaus degtine_6 months_2011.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=361123)

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