SNAIGĖ AB Information for Ordinary General Shareholders

SNAIGĖ AB provides the audited financial statements of the company for 2021, the report of the auditor, the annual report and the draft distribution of profits (losses) for the ordinary general meeting of shareholders of the company to be held on April 29 2022.

The shareholders of the Company are invited to participate in the Ordinary General Meeting of Shareholders and to vote on the items of the agenda in writing, by completing the voting form in advance and submitting it to the Company ( by address Pramones str.6, Alytus, Lithuania The document confirming the right based on the COVID-19 morbidity rates in the country, it is recommended to first consider the possibilities of receiving the general ballot and to vote in advance remotely, and to come to the office of the company only in exceptional cases when there is no other possibility.

According to audited consolidated data, AB SNAIGĖ reached nearly LTL 33.5 million in EUR 2021 revenue, 14% more than the same period last year.
However, higher sales did not compensate for increased costs due to higher raw material, energy and transport prices. Last year, the company achieved an unaudited consolidated EBITDA of 0.5 million euros.

According to Mindaugas Solugubas, Managing Director of AB SNAIGĖ, rising raw material prices, their shortage and disruption in the supply chain negatively affected the quality of sales and the company’s final result.

“Due to the lack of raw materials and their delays in delivery, we were unable to place some orders on time. We often produced what we could, rather than what we needed,” Mr. Solugubas said. . -“Late payments from some of our customers have increased the lack of working capital. In addition, rising energy costs have aggravated the situation in the fourth quarter of last year. It has been increased several times and has become a daunting burden. All of this directly affected the company’s bottom line.”

However, despite the challenges and difficulties, AB SNAIGĖ tries to survive this difficult stage and develop new products and even enter new categories.

In 2021, the company continued to develop its professional and commercial equipment product lines. AB SNAIGĖ has developed new refrigerators for medical use that meet the highest industry requirements, including DIN13277.
The company developed and manufactured the first examples of industrial refrigerators for professional kitchens. Their serial production will begin in 2022.
According to Mindaugas Solugubas, professional and commercial equipment is a strategic direction of the company. In the future, sales from this segment will account for nearly half of all SNAIGĖ sales. The company plans to further expand its medical refrigeration equipment: there will be more models of refrigerators for storing medicines and preparations, and we will introduce refrigerators in laboratories. There will be more modifications and a range of professional kitchen refrigerators.

In 2021, AB SNAIGĖ exported to almost 30 countries in Europe, Asia and Africa. Exports accounted for 91% of the company’s total turnover. The company’s largest overseas sales markets in 2021 were Germany (25%), Ukraine (11%), Norway (7%), Austria (7%) and Czech Republic (6%).
Sekenora Holdings Limited, a Cypriot investment company, is the main shareholder of SNAIGĖ. SNAIGĖ Group has two subsidiaries TOB SNAIGĖ UKRAINA and UAB ALMECHA.

Mindaugas Sologubas
General director
Such. +370 652 11997

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