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The increase in sales for the three quarters did not compensate for the losses caused by higher raw materials and transport prices
According to unaudited consolidated data, AB SNAIGĖ reached almost 26 million in the three quarters of 2021. EUR turnover, i.e. 16 per cent higher than the same period last year.
However, the increase in sales did not compensate for the company's increased costs due to higher prices for raw materials and transport. The company earned $ 0.9 million during the three quarters. EUR unaudited consolidated EBITDA, i.e. almost twice as much as in the same period last year.
According to Mindaugas Sologubas, General Manager of AB Snaigė, the rise in prices and shortages of raw materials and the supply chain's disruption have negatively affected the quality of sales and the company's final result.
"Due to a lack of raw materials and delays in delivery, we were unable to complete some orders on time. We often being forced to produce what we could produce rather than what we needed," said M. Sologubas. "- Besides that, to stay competitive, we were forced to sell with a lower sales margin. "
In the third quarter, AB SNAIGĖ continued to develop its product line of professional and commercial equipment. The company has expanded its range of medical refrigerators and released a refrigerator that meets the European quality standard DIN13277. This standard certifies that the product meets the highest quality and performance requirements for this category.
The company is also preparing for the production of industrial refrigerators for professional kitchens. The company expects the first examples of these products early next year. According to Mindaugas Sologubas, in the future, sales of professional and commercial equipment will occupy almost half of all products sold by SNAIGĖ.
In the three quarters of 2021, AB SNAIGĖ exported to almost 30 European, Asian and African countries. Exports accounted for 93 of the total turnover of the Company. The Company's largest foreign sales markets in the first half of the year were Germany (24%), Ukraine (14%), Morocco (8%), Austria (8%), and the Czech Republic (7%).
Mindaugas Sologubas
AB “Snaigė” General director
Phone +370 315 56206
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