Pieno Zvaigzdes, AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 30, 2021 at 12:14 pm EST
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Pieno Zvaigzdes, AB reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was EUR 46.83 million compared to EUR 45.97 million a year ago. Net income was EUR 1.19 million compared to EUR 2.97 million a year ago. Basic earnings per share from continuing operations was EUR 0.03 compared to EUR 0.07 a year ago.
For the nine months, sales was EUR 132.9 million compared to EUR 130.9 million a year ago. Net income was EUR 2.48 million compared to EUR 6.29 million a year ago. Basic earnings per share from continuing operations was EUR 0.06 compared to EUR 0.14 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%.