Utenos trikotažas to look forward for sales recovery next year

27 Nov '09

3 min read

Company "Utenos trikotažas" sales for the 9 months of 2009 reached LTL 46.9 million (EUR 13.6 million), and accordingly was by 35% less than of the same period in 2008.

The Company earned LTL 1.4 million (EUR 0.4 million) profit from typical operations and LTL 0.6 million Lt ( EUR 0.2 million) net profit, and in the same period in 2008 incurred LTL 3 million (EUR 0.9 million) loss from typical operations and net loss was 4.8 million Lt (1.4 million EUR).

Consolidated Group sales for the 9 months of 2009 reached LTL 54.5 million (EUR 15.8 million) and accordingly was 34% less than of the same period in 2008. The Group earned LTL 1.1 million (EUR 0.3 million) profit from typical operations and LTL 1.7 million Lt (EUR 0.5 million) net profit, and in the same period in 2008 incurred LTL 5.9 million (EUR 1.7 million) loss from typical operations and net loss was 5.7 million Lt (1.7 million EUR).

Company ,,Utenos trikotažas" company sales for the III quarter of 2009 reached LTL 13.1 million (EUR 3.8 million) and accordingly was by 32% less than of the same period in 2008. The Comapny earned LTL 7 thousand (EUR 2 thousand) profit from typical operations and LTL 89 thousand ( EUR 25 thousand) net profit, in the same period in 2008 incurred LTL 0.7 million (EUR 0.2 million) loss from typical operations and net loss was 1.2 million Lt (0.3 million EUR).

Consolidated Group sales for the III quarter of 2009 reached LTL 15.1 million (EUR 4.4 million), and accordingly was by 35% less than of the same period in 2008. The Group incurred LTL 0.2 million (EUR 0.05 million) profit from typical operations and net loss LTL 1.9 million Lt ( EUR 0.5 million). The consolidated Group results are negatively impacted by LTL 1.7 million (EUR 0.5 million) and LTL 1.8 million (EUR 0.5 million) for the 9 months of 2009 and III quarter of 2009 respectively due to Ukraine currency exchange rate (UAH) deprecation. It is important to note, that it virtually had no effect on the Company or Group cash flows.

"The year to date results shows that the changes implemented in the second half of 2008 delivered the expected results. Effective management, increased productivity, strict cost control has significantly improved the Company operating performance. Regrettably, the markets have been declining through the year and we look forward for the sales recovery next year. Nevertheless, we are satisfied by the EBITDA level we have achieved“, - says the General Manager of Company Utenos trikotažas Nerijus Vilunas.

Utenos Trikotazas AB was established on July 25, 1967 produce high-quality outer clothing and underwear. In 1993 Utenos Trikotazas became a private capital company.

Utenos Trikotazas AB

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