February 16, 2011

Lithuania's Vilkyskiu dairy exports to Russia rocket fourfold in 2010

Vilkyskiu Pienine (Vilkyskiai Dairy), one of Lithuania's technologically advanced dairy firms, raised 2010 exports to Russia by 4.2 times, to LTL62.6 million (EUR18.14 million, US$24.48 million), from LTL15.06 million (US$5.89 million) in 2009.

Last year the company sold 6,500 tonnes of dairy products in Russia, which comprised 26% of its total dairy output, Vilkyskiu Pienine said.

"Being recognized as the best in such a big market as Russia's is a truly important proof and evaluation of our products' quality," said Gintaras Bertasius, the company's CEO and key shareholder.

Bertasius told BNS in January that the group's exports accounted for 57% of total sales last year.

The dairy company posted LTL244 million (US$95.41 million) in consolidated sales for 2010, up 53% on-year.

Vilkyskiu Pienine previously reported that its consolidated net profits for the first three quarters of 2010 rose by 27.4%, to LTL8.059 million (US$3.15 million), from LTL6.324 million (US$2.47 million) a year before. Nine-month EBITDA grew by 7.1%, to LTL14.35 million (US$5.61 million).

The group owns Vilkyskiu Pienine, Kelmes Pienine (Kelme Dairy) and the cheese producer Modest.

The dairy producer is based in Vilkyskiai, in western Lithuania. Its shares are quoted on the blue-chip Main List of the Vilnius bourse.