Sales of Snaige Increased 57% in Q1
OREANDA-NEWS. Turnover at AB “Snaige” reached an all time high of LTL 34,4 MM in the first quarter (unaudited consolidated data), which is an increase of 57% vs. last year. Predominantly, sales have increased in eastern markets : Uzbekistan by 23 times, Tadzhikistan by almost 6 times, Russia by over 3 times. Sales also grew in some key western markets : France by 18%, Bulgaria by 38% and Poland by 24%. Additionally this year SC “Snaige” entered the markets of Finland, Belgium, and Hungary where it had not been trading during Q1 of the previous year. The companies EBITDA grew from LTL 0.325 MM to LTL 1.3 MM an increase of 4 times.
According to AB “Snaige” CEO G. Ceika, even though the first quarter brought a loss of LTL 1,1 MM (unaudited consolidated data) due to this being the low season and with especially higher heating costs this year, it was more than LTL 1 MM better than the same period last year. “In our business sales are very low at the beginning of winter, thus, we always get less income than spend at that time, and a summer season brings increased sales by several times,” – reported G. Ceika. „Therefore, during the first and second quarters we pay more attention to the preparation for the warm season: we update equipment, buy more raw materials, and produce for stock to have enough production for a summer season.“
Although AB “Snaige” labels over 60 percent of refrigerators with their own brand, the rest is produced for famous home appliance manufacturers and retail chains. This year the company will continue to produce refrigerators to the following companies: “Severin”, “Bomann” in Germany, “Conforama” in France and, “Orima” in Portugal. We are pleased to have the largest Polish home appliance manufacturer “Amica” having joined our customers’ ranks.
AB “Snaige” CEO G. Ceika says the results of the first quarter should be seen very positively. “We have reached our budgetted sales plans for the first quarter, - affirmed G. Ceika. “Moreover, we accomplished much in creating new products and improving cooling technologies.”
Since the beginning of the year, we have already released to the market a “Snaige” branded refrigerator with a cold section “0 Fresh Zone”. This year during the second and third quarter our company will present a new higher freezer, a new two-door refrigerator with glass doors of a Premium class and an innovative refrigerator of the highest energy class A+++. We know that not every manufacturer can make a boast of such a refrigerator.