Pieno Zvaigzdes, AB Reports Earnings Results for the Second Quarter Ended June 30, 2020
September 30, 2020 at 12:00 pm EDT
Share
Pieno Zvaigzdes, AB announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was EUR 43.043 million compared to EUR 44.888 million a year ago. Operating income was EUR 3.127 million compared to EUR 1.599 million a year ago. Net income was EUR 2.867 million compared to EUR 1.365 million a year ago. Basic earnings per share from continuing operations was EUR 0.06 compared to EUR 0.03 a year ago. For the half year, sales was EUR 84.932 million compared to EUR 84.148 million a year ago. Operating income was EUR 3.829 million compared to EUR 1.479 million a year ago. Net income was EUR 3.325 million compared to EUR 1.024 million a year ago. Basic earnings per share from continuing operations was EUR 0.07 compared to EUR 0.02 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 
