OREANDA-NEWS. On the 28th of March 2014 the Management Board of Vilkyskiu pienine AB approved audited sets of separate and consolidated financial statements of Vilkyskiu pienine AB, which were prepared according to the International Financial Reporting Standards, for the financial year ended on the 31st of December 2013.

In the year 2013 consolidated income of the Group of Vilkyskiu pienine AB (hereinafter in the text shall be referred as to the Company) comprised 364 million litas (105.5 million euro), and compared with the income of the year 2012, which was 296 million litas (85.6 million euros), it increased by 23 percent.

In the year 2013 EBITDA reached 24 million litas (7 million euros), and compared with the year 2012 EBITDA, which was 16 million litas (4.6 million euros), it increased by 50 percent. EBITDA margin comprised 6.6 percent (in the year 2012 - 5.4 percent).

In the year 2013 net profits comprised 13 million litas (3.8 million euros), and compared with the net profits of the year 2012, which was 7.7 million litas (2.23 million euros), it increased by 70 percent. Profit margin comprised 3.6 percent (a year ago it was 2.6 percent).

Management commentaries about the results of the activities of the Company in the year 2013:

Despite environment both in raw milk market and in certain main export markets has been changing strongly, the Company managed to show continues progress in all essential spheres of activities and in financial results in the year 2013.

Summarizing results of the activities of the company in the year 2013, we may point out the following key factors that had an impact on changes:

In the year 2012 in the factory of Vilkyskiai the capacities of cheese production were expanded, which allowed in the year 2013 to reach economy effect of higher level and to increase the part of high added value products in the basket of products of the Group of Vilkyskiai dairy.

In the year 2013 the situation in the market of raw milk and the prices in global product markets have been changing especially dramatically. The Company reacted to those changes and actively worked with the structure of the basket of products, and therefore it succeeded to reach better results of activities.

In the year 2013 the Company continued to work systematically in order to strengthen the trademark of the company and the positions of priority product groups in the main sales markets. We are glad that our efforts were noticed and trademark of Vilkyskiai pienine was acknowledged to be the most successful trademark of the year 2013 in the contest organized by Verslo Zinios and AC Nielsen.

Despite active efforts of development in the main sale markets, the Company continues to search actively for new markets of realization in order to diversify sales market and to have higher flexibility in respect of the basket of products. In the year 2013 the Company succeeded to reach significantly higher sales in such untraditional markets as Israel, Arab Countries, the Balkans and Greece.

Summarizing it could be stated that Company in the year 2013 reached key qualitative and quantitative aims, ensuring further development of the Group of Vilkyskiu pienine.