AB Pieno Zvaigzdes Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 30, 2022 at 11:20 am EST
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AB Pieno Zvaigzdes reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was EUR 55.43 million compared to EUR 46.83 million a year ago. Net loss was EUR 1.81 million compared to net income of EUR 1.19 million a year ago. Basic loss per share from continuing operations was EUR 0.04 compared to basic earnings per share from continuing operations of EUR 0.03 a year ago.
For the nine months, sales was EUR 157.17 million compared to EUR 132.9 million a year ago. Net loss was EUR 2.62 million compared to net income of EUR 2.48 million a year ago. Basic loss per share from continuing operations was EUR 0.06 compared to basic earnings per share from continuing operations of EUR 0.06 a year ago.
Pieno Zvaigzdes AB (Pieno Zvaigzdes JSC) is a Lithuania-based company involved in the production and sale of dairy products. Its product portfolio covers more than 500 different products, including milk, fermented milk and cheese, butter, cream, curd, yogurts, milk-based deserts, cottage and enzyme cheese, sour cream, ice cream and other milk products. The Company also produces low-fat milk powder and whey powder. The Company has four branches located in Mazeikiai, Pasvalys, Kaunas and Panevezys. The Company distributes its products through retail stores and distributors. Pieno Zvaigzdes AB sells its products domestically, the Russian Federation and the European Union countries. It holds such trademarks as: Bios, Baltija, Gamtos, Biola, MU, Kastinys and Smilga, among others. As of December 31, 2012, the Companyâs major corporate shareholder was Skandinaviska Enskilda Banken AB with a stake of 13.69%.
AB PIENO ZVAIGZDES 
