During the four quarters of the previous year the company's capitalisation augmented from USD 16.58 m to USD 51.20 m. As of 27 February 2001, it stood at USD 68.15 m.
AB "Ekranas" authorised share capital totals USD 37,868,000 (30,294,400 ordinary registered shares). As of 31 December 2000, free float of the company's shares accounted for 52.8%, and the number of shareholders totalled 3156. The largest shareholders (that hold over 5% of the authorised share capital) of the company are Farimex S.A. (Switzerland), Profilo Sanayi ve TICARET (Turkey), and Mr. Aydin Giz. In total they own 47.2% of the authorised share capital of the company.
According to the preliminary data, in 2000 AB "Ekranas" sales and services reached USD 109,717,428. The unaudited preliminary net profit of the company came to USD 13,173,795. Income from the sale of TV tubes comprised 95.5% of the total income in 2000. AB "Ekranas" sells 59% of its production to Turkey, 13% to France, 12% to Lithuania, 7% to Poland, 3% to Italy, 2% to Spain and 2% to the United Kingdom, as well as to the CIS and other countries.
During the proceeding 4 years the company prepared its accounts in accordance with the Lithuanian and International Accounting Standards.
In October 2000, AB "Ekranas" signed technical assistance contract and licence agreement with the Japanese company TOCHIBA. After implementation of the planned projects, quality of the TV tubes and productivity ratios will improve, and manufacture of flat TV tubes will be fully implemented.
AB "Ekranas" business strategy foresees maximisation of the profit margin by efficient management of the company's assets, penetration in the new TV tubes markets of Western Europe and Eastern Asia as well as retaining the position in the old markets. In 2001, the company anticipates to sell 3.2 million TV tubes, increase its revenue by 14% as compared to last year, generate the pre-taxed profit of USD 15 m, and invest USD 40 m in expansion and improvement of the production process.
Further information on AB "Ekranas" (information bulletin (in Lithuanian), comparative financial statements (in Lithuanian), full audit report for 1999 (in English)) is available on the NSEL website at http://www.nse.lt
For additional information, please, contact Mr. Saulius Malinauskas, Director of the NSEL Listing Department at +370 2 72 14 06.
