Snaigė, AB consolidated financial statements for the nine months period of 2019 year

Over the first three quarters of this year, Snaigė, AB reached EUR 26 million in unaudited consolidated turnover. The company exported its products to over 30 countries in Europe, Asia and Africa. The largest part of its sales revenue came from Germany, Ukraine, Lithuania and the Czech Republic.

The company’s EBITDA, according to the unaudited consolidated data, reached EUR 0.8 million in the first three quarters of this year.

The new CEO of Snaigė, AB, who took up on 21 September, Mindaugas Sologubas, has stated that one of the company’s key strategic objectives is the diversification of its product portfolio. Snaigė, AB is making arrangements for the launch of the production of professional refrigeration equipment and is currently undertaking preparatory and research works. 

“In future, the portfolio diversification will help avoid seasonality, thereby ensuring more evenly spread and more efficient manufacturing operations. The expansion into the category of professional refrigeration will reinforce the company’s competitive edge and increase its revenue,” said Mr Sologubas. “But we shall not leave behind the part of our business making household refrigeration equipment as we are planning to have a few new additions to it.

Snaigė, AB is also strengthening its sales unit. A month ago, it had a new manager of the Sales Department appointed, and the company has plans for recruiting a few more experts to work on the new products that will be added to the company’s portfolio. 

Mindaugas Sologubas

Managing Director, AB “Snaigė“

Phone +370 315 56206

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