Major Events 2015
30-11-2015
Snaigė, AB’s EBITDA reached 2.8 million euro in the first nine months of this year
Snaigė, AB’s EBITDA reached 2.8 million euro in the first nine months of this year (according to the unaudited consolidated data), which is 28% higher than compared to the same period last year. The company made a profit of 0.9 million euro (according to the unaudited consolidated data), which is 2.5 times more than last year. The company’s export accounted to around 94% of its sales.
According to Gediminas Čeika, the CEO of Snaigė AB, this result is an excellent proof of how efficient and flexible the operations of the company are. The company not only managed to recover for the decreased sales in the significant markets of Ukraine, Russia and the Middle Asia, but also to earn more.
The majority of production within 9 months of this year, Snaige AB sold in France ( 21 percent .), Germany ( 13 percent . ), Poland ( 13 percent . ) . The company managed to establish itself in new markets - Scandinavia, Israel, Azerbaijan and Georgia.
In September, the company participated in the international fair for home appliances IFA 2015 in Berlin, where it presented its most recent products: NO FROST fridge-freezers with electronic control systems, luxurious double fridge-freezers with glass surface doors RF34TWINS, a single-door fridge C 31 and the most recent commercial display cooler CD40. Snaigė’s stand attracted much interest from both the attendees of the trade fair as well as potential clients. A fridge upholstered in faux crocodile leather raised great interest from the journalists of the international newspapers and portal USA TODAY.
 
28-08-2015
Snaigė AB EBITDA reached 1.3 million euro in the first half of this year
Snaigė AB EBITDA reached 1.3 million euro in the first half of this year (according to the unaudited consolidated data), which is 10% higher than compared to the same period the last year.
According to Gediminas Čeika, Director General of Snaigė AB, it is a highly satisfactory result considering the fact that the company’s sales in and the revenue from the markets of Ukraine, Russia and Middle Asia had significantly decreased as a result of the geopolitical situation.
“We sold a larger proportion of our products to the Western markets (France, Germany and Switzerland) and the relatively lucrative countries in Central Europe (Czech Republic and Bulgaria). We have also started trading in new markets: Norway, Israel and Azerbaijan. All of the above helped us maintain the sales balance and earn profits”, - stated Mr Čeika.
During the first half of the year, the company has offered few new and authentic products to the markets. These included luxurious double fridge-freezers with glass surface doors RF34TWINS, which raised the interest of Israel clients, and a single door fridge-freezer C 31 welcome by the buyers in France and Scandinavian countries.
According to the unaudited consolidated data, the company earned 71.3 thousand euro in net profit, which is more than 10 times higher than compared to the same period the last year. The consolidated unaudited revenue of the Company amounted to 20.5 million euro. The Company exported around 96% of its produce.
 
29-05-2015
Snaigė AB, not audited financial results for the first three months of 2015
Snaigė, AB’s turnover reached EUR 8.5 million in the first quarter of this year (according to the unaudited consolidated data), which is 12% lower than the turnover of the same period last year.
According to Gediminas Čeika, Director General of Snaigė AB, the lower sales of the company were determined by the decreased exports to Ukraine and certain CIS countries. “The unstable political situation and the weakening of local currencies affected the buying behaviour of consumers not only in Ukraine, but also in the countries of Central Asia,” stated Mr Čeika. “These regions comprise an important part of the company’s sales,” he continued.
However, sales in other regions of the company grew or remained stable. For example, in the first quarter of this year, as compared to the same period last year, the company sold significantly more of its products to Switzerland (4 times more), Portugal (39%), Moldova (36%) and Czech Republic (16%).
According to Gediminas Čeika, the coming months of this year, once the refrigerator season is in full swing, should be more successful.
SNG financial statements QI  2015 with confirmation Download
 
27-05-2015
Registered the Articles of Association of Snaige AB
On 26th of May, 2015 the Articles of Association of Snaige AB was registered on Register of Legal Entities AB (which was approved by shareholders on 30 April, 2015 shareholders meeting).
 
30-04-2015
Resolutions of the General Meeting of Shareholders
 
The General Meeting of shareholders of Snaige AB was held on 30 April 2015.
 At the meeting was made following resolutions:
1.              THE AGENDA QUESTION: Consolidated annual report of Snaigė AB on the company’s activity for 2014.
In the meeting taken for information the consolidated annual report of Snaigė AB on the company’s activity for 2014.
2.             THE AGENDA QUESTION: Auditor’s conclusion on the company’s financial statements for 2014.
In the meeting taken for information with the auditor’s conclusion on the company’s financial statements for 2014.
3.             THE AGENDA QUESTION:  Approval of the set of financial statements of the company for 2014.
THE DECISION: The set of financial statements of the company for 2014 has been approved
4.             THE AGENDA QUESTION:  Approval of distribution of profit (loss) of Snaigė, AB for 2014.
THE DECISION: The distribution of profit (loss) of Snaigė,AB for 2014 has been approved:
Non-distributed profit (loss) at the end of the last financial year: LTL -10,766,848 (EUR -3,118,294.72)
Net result - profit (loss) of financial year: LTL -2,495,648 (EUR -722,789.62)
Distributable result- profit (loss)  of financial year: LTL -13,262,496 (EUR -3,841,084.34)
Contributions of shareholders to cover loss: LTL 0 (EUR 0)
Share premium for covering of loss LTL 0 (EUR 0)
Transfers from reserves: LTL 0  (EUR 0)
for social and cultural needs: 0 (EUR 0)
for investments: 0 (EUR 0)
Transfers from reserve foreseen by law: 0 (EUR 0)
Transfers from reserve of share premium for covering of loss: 0 (EUR 0)
Contributions of shareholders to cover loss: 0 (EUR 0)
Distributable profit (loss): LTL -13,262,496 (EUR -3,841,084.34)
Distribution of profit (loss): LTL 0  (EUR 0):
Portion of profit allocated to reserves foreseen by law: LTL 0 (EUR 0)
Portion of profit allocated to other reserves: LTL 0 (EUR 0)
- for support and charity LTL 0 (EUR 0)
- for social and cultural needs LTL 0 (EUR 0)
Portion of profit allocated for payment of dividends: LTL 0 (EUR 0)
Portion of profit allocated for payment of premiums: LTL 0 (EUR 0)
Portion of profit allocated for payment of tantiemes: LTL 0 (EUR 0)
Other: LTL 0 (EUR 0)
- portion of profit allocated to reserve for acquisition of own shares: LTL 0 (EUR 0)
- portion of profit allocated to reserve for investments: LTL 0 (EUR 0)
Non-distributed result - profit (loss) at the end of financial year: LTL -13,262,496 (EUR -3,841,084.34).
5. THE AGENDA QUESTION:  Election of Board members for the new term.
THE DECISION: Aleksey Kovalchuk, Svetlana Ardentova, Oleg Tsarkov, Olga Kuznecova and Vladislav Sviblov have been elected for the new Board.
The General Manager of the Company was authorized (including the power to delegate) to perform all necessary actions, sign and submit documents related with information about elected members of Board to the Register of Juridical persons.
6. THE AGENDA QUESTION: Election of the audit firm for auditing purposes of financial statements and establishment of terms regarding the payment for audit services.
THE DECISION: UAB KPMG Baltics has been elected for 2015 auditing purposes of annual financial statements.
The General Director was authorized (with the right to delegate)  of the company to sign the agreement with the audit firm by establishing the terms of payment for the audit services and other terms.
7. THE AGENDA QUESTION: Election of members of Audit Committee.
THE DECISION: Until the end of term of the Company’s Board to elect Anton Kudryashov, Virginijus Dumbliauskas, Rasa Balčiūnaitė Kaminskienė.
8. THE AGENDA QUESTION: The adjustment of AB Snaige articles of association in connection with the change of the Company’s authorized capital and per value of share expression from litas into euro and other changes.
THE DECISION: To approve that the autorised capital of Company is converted in euro in accordance with Law of Republic of Lithuania and after this change is EUR 11490494,55 (eleven million four hundred ninety thousand four hundred ninety four euro and 55 eurocents).  
The nominal value per share is converted in euro in accordance with Law of Republic of Lithuania and after this change is 0,29 (twenty nine eurocents)  euro.
There are approved other changes in article of association:
3.14. point is eliminated.
3.15. point after change became 3.14 point.
The new redaction of 4.1 point: “4.1. The authorised capital of the Company is EUR 11490494,55 (eleven million four hundred ninety thousand four hundred ninety four euro and 55 eurocents).
The new redaction of 5.1 point: “5.1. The authorized capital of the Company is divided into 39,622,395 (thirty nine million six hundred thirty twenty two thousand three hundred ninety five) shares. The nominal value of one share is 0,29 (twenty nine eurocents) euro”.
 The new redaction of 5.4 point: “5.4. The Company has a right to purchase its own shares according to the regulations specified in the Law on Companies and according other legal acts”.
The new redaction of 5.5 point: “5.5. The Company has no right to employ the property or non-property rights granted by purchased shares”.
The new redaction of 5.6 point: “5.6. The decision on the acquisitions The Company’s own shares makes the general meeting of shareholders”.
Points from 5.7 till 5.10 are eliminated from articles of association.
There are decreased the number of Board members from 6 till 5. The new redaction of 6.1.2. point:
“6.1.2. A board of directors comprising five members and elected for 4 years term”.
The new redaction of 8.1. point: “8.1 The general meeting must approve the set of financial annual accounts of the Company”.
The new redaction of 8.2. point: “8.2 The set of Company’s financial annual accounts, the Company’s annual report, and the auditor’s opinion must be submitted to the manager of the register of legal entities not later than 30 days from the general meeting”.
The new redaction of 8.3. point: “8.3 Upon the approval of the set of financial annual accounts by the general meeting, the latter must appropriate the distributable profit (loss)”.
The new redaction of 9.2. point: “9.2. Notices (including periodic and current information and information about essential events as stated in the Law on Securities) are provides in the cases specified in the Law on Companies, in the Law on Securities and in other laws of Republic of Lithuania according to the procedures established in the Law on Companies and in this articles of association”.
The new redaction of 9.3. point: “9.3. Other public notices (other than listed in p. 9.1 and in p. 9.2) which according the Law on Companies and in other laws of Republic of Lithuania must be published publicly in the daily are publishing in the electronic publication published by register of legal entities for announcement the public announcements. In cases when such notices cannot be announced in such publication due to technical obstacles or other important reasons, notices are publishing in the daily “Kauno diena”. Such notices are publishing according terms and method of the Civil code, the Law on Companies and other laws of Republic of Lithuania”.
To approve the new edit of AB “Snaige” article of association.
To authorize (with the right to subdelegate) the head of the Company to sign the new wording of the Articles of Association of the Company and to submit it for registration with the Register of Legal Entities.
 
Attached:
2014 Audited consolidated and Company’s financial statements together with independent auditor‘s report. Download.
Voting results. Download.
Articles of association Download.
 
21-04-2015
AB "Snaige" information for the ordinary general shareholders meeting
AB "Snaige" information for the ordinary general shareholders meeting of the Company which will be held on 30 April 2015.
2014 Consolidated and separate Financial Statements presented together with independent auditor's report Download
 
08-04-2015
Convocation of the ordinary General Meeting of Shareholders
On 30 April 2015 the ordinary General Meeting of Shareholders of Snaigė AB, the address of head office Pramonės str. 6, Alytus, the company code 249664610 (hereinafter, the “Company”) is convened the ordinary General Meeting of Shareholders (hereinafter, the “Meeting”).
 The place of the meeting –at AB “Snaige” office, at the address Kareiviu str. 6, Vilnius, Lithuania.
 The Meeting commences – at 10 a.m. (registration starts at 9.45 a.m.).
 The Meeting’s accounting day – 23 April 2015 (the persons who are shareholders of the Company at the end of accounting day of the General Meeting of Shareholders or authorized persons by them, or the persons with whom shareholders concluded the agreements on the disposal of voting right, shall have the right to attend and vote at the General Meeting of Shareholders).
 The Board of directors of the Company initiates and convenes the meeting.
 Agenda of the Meeting:
1. Consolidated annual report of “Snaigė” AB on the company’s activity for 2014.
2. Auditor’s conclusion on the company’s financial statements for 2014.
3.Approval of the set of financial statements of the company for 2014.
4.Approval of distribution of profit (loss) of “Snaigė” AB for 2014.
5. Election of Board members for the new term; Information about the candidates to the Board Download
6.Election of the audit firm for auditing purposes of financial statements and establishment of terms regarding the payment for audit services;
7. Election of members of Audit Committee;
8. The adjustment of AB “Snaige” articles of association in connection with the change of the Company’s authorized capital and per value of share expression from litas into euro and other changes.
 The Company shall not provide the possibility to participate and vote in the Meeting through electronic communication channels.
 Draft resolutions on agenda issues, documents be submitted to the General Meeting of Shareholders and other information related with the exercising of the shareholders’ rights are available on the website of the Company www.snaige.lt on menu item “For investors”. This information will be also available for the shareholders at the head office of the Company (Pramonės street 6, Alytus) on business days from 9:00 am. till 16:00 pm. (on Fridays till 14:00), tel. +370 315 56206, +370 5 2361970.
 Shareholders holding shares that grant at least 1/20 of all votes shall have the right of proposing to supplement the agenda of the Meeting by providing the Meeting draft resolution on each additionally proposed issue or in case no resolution is required - the explanation. The proposals to supplement the agenda shall be submitted in writing or by e-mail. The proposals shall be presented in writing to the Company on business days or by sending it by registered mail at the address Snaigė AB, Pramonės street 6, LT-62175 Alytus, Lithuania. The proposals submitted via the e-mail shall be sent on vilniaus.biuras@snaige.lt. The proposals to supplement the agenda with the additional issues shall be submitted till the 15 April 2015, 4:00 p.m. In case the agenda of the Meeting is supplemented the Company will report on it no later than 10 days before the Meeting in the same ways as on convening of the Meeting.
 Shareholders holding shares that grant at least 1/20 of all votes shall have the right of proposing new draft resolutions on the issues already included or to be included in the agenda of the Meeting, audit firms for auditing purposes of financial statements. The proposals shall be submitted in writing or by e-mail. The proposals shall be presented in writing to the Company on business days till 29 April 2015, 2 p.m. or by sending it by registered mail at the address Snaigė AB, Pramonės street 6, LT-62175 Alytus, Lithuania. During the Meeting the proposals shall be submitted to the Chairman of the Meeting after he announces the Meeting agenda and no later than the Meeting starts working on the issues of agenda. The proposals submitted via the electronic mail shall be sent on vilniaus.biuras@snaige.lt. The proposals submitted on this e-mail till 29 April 2015, 2:00 p.m. will be discussed during the Meeting.
 The shareholders shall have the right to present questions related to the General Meeting of Shareholders' agenda issues to the Company in advance in writing. The shareholders shall present the questions not later than 3 business days before the Meeting via the electronic mail on vilniaus.biuras@snaige.lt. The Company undertakes to respond to the submitted questions via the electronic mail till the Meeting day, except the questions related to the Company’s commercial secret and confidential information.
 During the registration to attend the Meeting the shareholders or the persons authorized by them shall submit a document which is a proof of his identity. The shareholders' authorized persons shall submit the power of attorney confirmed by the established order. The power of attorney issued by the natural person shall be notarized. A power of attorney issued in a foreign state must be translated into Lithuanian and legalized in the manner prescribed by law. Representative can be authorized by more than one shareholder and shall have a right to vote differently under the orders of each shareholder. The shareholder holding shares of the Bank, where the shares have been acquired on his own behalf, but for the benefit of other persons, must disclose before voting at the General Meeting of Shareholders to the Company the identity of the final customer, the number of shares that are put to the vote and the content of the voting instructions submitted to him or any other explanation regarding the participation agreed upon with the customer and voting at the General Meeting of Shareholders.
 Shareholder shall also have the right to authorize through electronic communication channels another person (natural or legal) to participate and vote in the Meeting on shareholder's behalf. Such authorization shall not be confirmed by the notary officer. The power of attorney issued through electronic communication channels must be confirmed by the shareholder with a safe electronic signature developed by safe signature equipment and approved by a qualified certificate effective in the Republic of Lithuania. The shareholder shall inform the Company on the power of attorney issued through electronic communication channels by e-mail vilniaus.biuras@snaige.lt no later than the last business day before the meeting at 2:00 p.m. The power of attorney and notification shall be issued in writing. The power of attorney and notification to the Company shall be signed with the Electronic Signature but not the letters sent via the e-mail. By submitting the notification to the Company the shareholder shall include the Internet address from which it would be possible to download free of charge software to verify an Electronic Signature of the shareholder.
 Each shareholder or representative thereof shall have the right to cast his/her vote in advance in writing by filling in a general ballot paper. The general ballot paper form is on the Company's website www.snaige.lt on menu item “For Investors”. Upon the written shareholder‘s request, the Company no later than 10 days before the Meeting shall send a general ballot paper by registered mail or hand it in person against signature. The general ballot paper filled shall be signed by the shareholder or his/her representative. In case the ballot paper is signed by the shareholder's authorized representative, such person along with the filled ballot paper shall submit the document to confirm the voting right. The ballot paper filled and the document confirming the voting right (if required) shall be submitted in a written form to the Company by registered mail at the address Snaigė AB, Pramonės street 6, LT-62175, Alytus, Lithuania, or by submitting it to the Company. Validated will be dully filled-in ballot papers, received until the meeting.
 The following information and documents are available on the website of the Company www.snaige.lt on menu item “For Investors”:
- report on the convening of the Meeting;
- the total number of the Company’s shares and the number of shares with voting rights on the convening day of the Meeting Download
- draft resolutions on each agenda issue  Download and other documents to be submitted to the Meeting Download
- general ballot paper form Download
 Additional information on the stock event is provided by telephone: +370 5 2361970.
 
28-02-2015
SNAIGE EBITDA GREW 11 TIMES AND THE LOSS REDUCED BY 4 TIMES IN 2014
 Based upon unaudited consolidated data, AB Snaigė achieved an EBITDA of 6.1 million LTL (1.8 million EUR) in 2014 which is 11 times more than in 2013.
The Company’s unaudited consolidated turnover exceeds 146 million LTL (42.3 million EUR) which is 17 per cent lower than the last year. 
 The turnover has been significantly influenced by events in Ukrainian market and general adverse situation in Russia and in the areas influenced by Russia. 
 Gediminas Čeika, Managing Director of AB Snaigė, assesses the 2014 results and activities positively. Though we lost much of our Ukrainian market sales, which is one of the biggest and most profitable markets, this loss has been largely compensated in other markets”, said G. Čeika. “Excluding the fall in Ukraine, sales of the Company increased around 18 percent. I am proud of my team’s ability to immediately answer the changing circumstances and to change their actions to benefit the Company."
 The efforts of AB Snaigė to maintain the sales by selling more in other markets have been successful: Sales increased 39 per cent in France, 31 percent in Poland and 14 percent in Germany comparing with the previous year.
 Sales of AB Snaigė also increased considerably in Lithuania up 46 percent comparing with the last year. “I am happy that the fridges of Snaigė are marketable not only in France, Germany, Portugal and other European countries but also in Lithuanian market", said Gediminas Čeika. “Today Snaigė is a second bestselling fridge trademark in Lithuania. Some of our products are really bestsellers and remain in the list of bestselling fridges for many months.”
 During the year AB Snaigė introduced some new products to its customers: The energy saving fridge of the class A+++ with extremely low energy consumption, a new freezer of larger volume, fridge in the higher energy class with “No frost” freezing system." The latter won a gold medal as Lithuanian product of the year.
 According to the unaudited consolidated data, AB Snaigė incurred a loss of 2.2 million LTL (0.7 million EUR), (which is 4 times lower comparing to the last year) which was caused by the creation of provisions for possible write-offs of the debts of customers from Crimea and east Ukraine. The situation in their country forced them to suspend their activities.