Pieno Zvaigzdes, AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
October 20, 2022 at 08:05 am EDT
Share
Pieno Zvaigzdes, AB reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was EUR 54.77 million compared to EUR 45.9 million a year ago. Net income was EUR 1.65 million compared to EUR 0.799 million a year ago. Basic earnings per share from continuing operations was EUR 0.04 compared to EUR 0.02 a year ago.
For the six months, sales was EUR 101.74 million compared to EUR 86.07 million a year ago. Net loss was EUR 0.813 million compared to net income of EUR 1.3 million a year ago. Basic loss per share from continuing operations was EUR 0.02 compared to basic earnings per share from continuing operations of EUR 0.03 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 
