Pieno Zvaigzdes, AB Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
February 27, 2022
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Pieno Zvaigzdes, AB reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported sales was EUR 43.79 million compared to EUR 40.16 million a year ago. Net loss was EUR 1.23 million compared to net income of EUR 1.42 million a year ago. Basic loss per share from continuing operations was EUR 0.03 compared to basic earnings per share from continuing operations of EUR 0.03 a year ago.
For the full year, sales was EUR 176.69 million compared to EUR 171.06 million a year ago. Net income was EUR 1.25 million compared to EUR 7.71 million a year ago. Basic earnings per share from continuing operations was EUR 0.03 compared to EUR 0.17 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 
