According to the unaudited consolidated data, Snaigė AB reached consolidated unaudited turnover of EUR 16.7 million in the first half of 2018, which is 11% less than compared to the same period last year, and sustained a consolidated unaudited loss of EUR 1.3 million.
The reasons behind the falling sales and the incurred loss are the increased prices for the company’s products. This price increase by the company was inevitable as the costs of certain materials used in the refrigerator manufacture had surged.
According to Gediminas Čeika, the Director General of Snaigė AB, the company’s half-yearly results, although not pleasing, were expected. “A price increase is almost always expected to be followed by falling sales,” said Mr Čeika. “Snaigė AB was one of the first refrigerator manufacturers to announce a price increase for its products. Certainly, the news has not been welcomed by all customers. However, after a certain adaptation period all will fall into places. In addition, the company is seriously considering diversification of its product portfolio.”
During the first half of this year, Snaigė exported its products to over 30 countries in Europe and Asia. The majority of the sales revenue came from Germany, France, Ukraine, Lithuania and the Czech Republic, while the largest growth in the sales revenue, if compared to the previous year, was observed in Norway, Portugal, Kazakhstan, Russia and Ukraine.
The company has introduced two refrigerator lines with new designs. These are the retro style refrigerators Snaigė RETRO and modern refrigerators with larger spaces for fresh products to be kept in Snaigė FRESH INN. The new fridges have already reached the stores and their customers in some of the countries across Europe.
Managing Director
Gediminas Čeika
+370 315 56206
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