AB SNAIGĖ I quarter sales - more profitable
According to unaudited consolidated data, AB “Snaigė“ reached a turnover of EUR 5.3 million in the I quarter of 2020, or 22 percent lower than the same period last year.
However, unaudited consolidated loss decreased by EUR 146 thousand.
The company earned EUR 174 thousand unaudited consolidated EBITDA, which is 5 times more than last year during the same period.
According to Mindaugas Sologubas, General Director of AB “Snaigė“, there is negative impact of the global pandemic on the results of the first quarter, but the effect is not dramatic.
“Our, like most other manufacturers, second quarter results will be more affected by the COVID-19 pandemic and the restrictions imposed to overcome it, as the company's plant was forced to operate at limited capacity, with some workers downtime.” - M. Sologubas said.
Attached: AB Snaige consolidated interim financial statements for three months period ended 31 March 2020 (unaudited).
AB “Snaigė” General Director
Phone: +370 315 56206