Pieno Zvaigzdes, AB Announces Earnings Results for the Third Quarter Ended September 30, 2020
November 25, 2020 at 10:49 am EST
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Pieno Zvaigzdes, AB announced earnings results for the third quarter ended September 30, 2020. For the quarter, the company announced sales was EUR 45.970 million compared to EUR 44.731 million a year ago. Operating income was EUR 3.939 million compared to EUR 3.113 million a year ago. Net income was EUR 2.965 million compared to EUR 2.885 million a year ago. Basic earnings per share from continuing operations was EUR 0.07 compared to EUR 0.06 a year ago.
For the nine months, sales was EUR 130.902 million compared to EUR 128.878 million a year ago. Operating income was EUR 7.768 million compared to EUR 4.592 million a year ago. Net income was EUR 6.290 million compared to EUR 3.909 million a year ago. Basic earnings per share from continuing operations was EUR 0.14 compared to EUR 0.09 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 
