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VLP: AB Vilkyškių pieninė continues operation optimization and cost reduction
Vilkyskiu Pienine AB Notification on material event 01.12.2009
AB Vilkyškių pieninė continues operation optimization and cost reduction
The revenues of Lithuanian dairy AB Vilkyškių pieninė during 3 quarters of 2009
amounted to 114.7 mLTL (33.2 mEUR), or 2.5% less than in the same period in
2008. The net profit of the company amounted to 6.3 mLTL (1.8 mEUR) compared to
the 9.7 mLTL (2.8 mEUR) loss in 3 quarters of 2008.
„The reason for profit is significantly reduced production, management and
administration costs and lower than in 2008 raw milk purchase prices. Our most
important goals for the future is further automation and optimization of
production processes and development of new products. After very challenging
2008 we expect that we will fare better in 2009 and end the financial year with
profit“, - commented CEO of AB Vilkyškių pieninės Gintaras Bertašius.
The largest part of revenues was generated from sales of cheese (49%), curd
products (15%) and cream (14%). More than 50% of production is exported to
Latvia, Estonia, Finland, Czech Republic and other EU members, as well as
AB Vilkyškių pieninė increases efficiency also by disposing of unnecessary real
estate. Recently the company sold its subsidiary's UAB Modest production
facility in Bagaslaviškis and transferred the production to main facility at
Tauragė, and sold unnecessary real estate in Skaudvilė. Total revenues from the
disposal of these assets amounted to 490 thou. LTL.
AB Vilkyškių pieninė shares are listed on Official list of NASDAQ OMX Vilnius.
The Vilkyškių pieninė group consists of AB Vilkyškių pieninė, AB Kelmės pieninė
and UAB Modest.
Vilija Milaševičiūtė, CFO
phone: +370 441 55 102
Nasdaq Baltic is a common name for the companies and exchanges/regulated markets operated by Nasdaq companies in the Baltic States, including Nasdaq Tallinn AS, Nasdaq Riga, AS and AB Nasdaq Vilnius among them and information provided by them hereto.