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VDG: Vilniaus degtinė AB 2009 six months results, interim financial and interim reports

Spekuliantai.lt | 2009-08-31 | NASDAQ OMX biržų naujienos | perskaitė: 1624
Raktiniai žodžiai: Vilniaus Degtine AB, VDG
VDG: Vilniaus degtinė AB 2009 six months results, interim financial and interim reports

Vilniaus Degtine AB Interim information 31.08.2009

Vilniaus degtinė AB 2009 six months results, interim financial and interim
reports

One of the biggest Lithuanian producers of strong drinks AB „Vilniaus degtinė“,
owning such trademarks as „Sobieski“, „Bajorų“, „Karvedys“, etc., demonstrated
loss before tax during the first six months of this year - 278,3 thousand
Litas (80,6 thousand EUR). During the same period last year the results of the
company were 38,3 thousand Litas (11,1 thousand EUR)profit before tax. The
company's income from sales in January-June 2009 amounted to 23,9 million Litas
(6,9 million EUR)- 20,5 percent less than during the same period in 2008 (30,1
million LTL (8,7 million EUR)). During the first six months the company sold
2949,1 thousand liters of strong drinks - 30,4 percent less than during the same
period in 2008 (4 236,8 thousand liters).
During the second quarter of 2009 the company earned 569,9 thousand Litas (165
thousand EUR) profit before tax. The loss, recorded in the end of the first six
months, was determined by the activities of the first quarter, where 848,2
thousand Litas loss was incurred. The biggest part thereof - even 828,7
thousand Litas (245,7 thousand EUR) - was the redundancy pay and compensation
for leave including the social insurance tax, paid to the employees, who left
the company.
The main factor, which has determined the drop in sales and detrimental
activities, is the second year in a row increased excise tax on strong drinks
in Lithuania as well as illegal alcohol sales on the “black” market increased
as a result thereof.
The company expects to increase the sales after launching two brand new
original products on the market: „Sobieski“ with coffee and „Sobieski“ with
olives. The company only uses natural coffee and olive ratafia, moreover, only
real coffee beans and olives are added to every single bottle. The managers of
the company expect higher sales of „Sobieski“ vodka, since the French company
Belvedere S.A., owning „Vilniaus degtinė“ and „Sobieski“ trademarks, has signed
the contract with the actor Bruce Willis, under which the latter will appear in
the advertisements of the new campaign all over the world.
During the first six months the sales on the export markets, the biggest part
whereof has been sold to the European Union countries, have been increasing by
over 15% as well as reached 1,58 million Litas (0,46 million EUR) (during the
same period last year - 1,37 million Litas (0,4 million EUR)).
Today or 31 August 2009 AB “Vilniaus degtinė” and Public Organization
„Lithuanian Business Support Agency“ signed the contract concerning 9,992
million Litas (2,9 million EUR) financing to „Vilniaus degtinė“ project „The
use of spillage for electricity production“ according to the European Union
Structural support application strategy of Lithuanian for 2007 - 2013 and
Cohesion incentive action program means “Use of renewable energy resources for
generation of energy“. Irrespective of decreasing market capacity and sales,
the company has optimized its activities and it is planning to close the Year
2009 with profit.

Please find Vilniaus degtinė AB 2009 six months interim financial report and
interim report attached.

Renaldas Barauskas / Deputy Managing Director
Phone: 8 5 233 56 38; E-mail: renaldas.barauskas@degtine.lt

Audra Jauniškienė / Director of Finance and Administration
Phone: 8 5 213 31 52; E-mail: audra.jauniskiene@degtine.lt



1. vd_interim p_ report_ h1 2009.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=274693)
2. vd_2 interimstatement_fin_.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=274692)
3. conf.fin.jpg
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=274690)
4. confirm.jpg
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=274691)

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