March 1, 2011

Vilkyskiu dairy's 2010 net profit doubles to US$4.69 million

Vilkyskiu Pienine (Vilkyskiai Dairy) said Monday (Mar 1) that its 2010 combined net profits nearly doubled to LTL11.872 million (EUR 3.44 million; US$4.69 million), up from 2009's LTL6.723 million (US$2.69 million).

The group's consolidated pretax profits surged to LTL12.376 million (US$4.95 million) in 2010, from LTL7.972 million (US$3.19 million) in 2009, according to Vilkyskiu Pienine's annual financial report.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) last year rose by 12% to LTL20.111 million (US$8.04 million). The EBITDA margin was down to 8.3% from 11.3%.

Vilkyskiu Pienine said that it expects to increase exports to Ukraine, Belarusian and Kazakhstan and will look for new markets in Middle East.

The group's consolidated sales revenues last year soared by 53% to LTL244 million (US$97.57 million).

Sales in Lithuania rose by 22.5% to LTL91.6 million (US$36.63 million). Sales in Russia more than quadrupled to LTL62.7 million (US$25.07 million). Sales in EU markets increased by 24.6% to LTL84.4 million (US$33.75 million), and sales in other countries more than trebled to LTL5.6 million (US$2.24 million).

Vilkyskiu is based in Vilkyskiai, western Lithuania, and is quoted on the blue-chip Main List of the NASDAQ OMX Vilnius stock exchange.