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Gtlc2001.Pdf The Baltic region has a population of 7.6 million and is at the verge Estonia: Liivalaia 8, 15040 Tallinn of accession to the European Union. Here the market grows quicker Phone: +372 6 131355 than almost no other market in the world. Located at the crossroads Fax: +372 6 131545 E-mail: [email protected] of historical trade routes, the region is showing constant progress in www.hansa.ee every aspect of development economic, social, educational and financial. Latvia: Kalku street 26, LV-1050 Riga Phone: +371 7 024154 Hansabank Markets leads the equity market in Fax: +371 7 024400 E-mail: [email protected] Estonia, Latvia and Lithuania with market share www.hbl.lv exceeding 40%. We offer our clients the finest know- Lithuania: how of the area, best research house of the Baltic Gedimino ave 26, LT-2600 Vilnius region by Euromoney, integrated and plugged-in Phone: +370 2 390638 Fax: +370 2 390641 distribution channels and flexibility derived from our E-mail: [email protected] expertise and commitment. Hansabank Markets www.hansabank.lt grows the business through developing Baltic financial markets. Hansabank Markets. Professional choices for professional people. LITHUANIAN COMPANIES NACIONALINË VERTYBINIØ P0PIERIØ BIRÞA Guide to Listed Companies 2001 published by the National Stock Exchange of Lithuania Tel. (+370 2) 72 14 07, 72 15 42, fax (+370 2) 72 48 94 http://www.nse.lt Guide to Listed Companies Editors 2000 Simona Baèkienë Juozas Brigmanas Tomas Kliuèius Jûratë Lauciûtë Agnë Maslauskaitë Arminta Saladþienë Lina Semënaitë Diana Sokolova Design director Gediminas Minderis Assisting in the editorial work Gediminas Balnis Daiva Grigusevièiûtë ISSN 1648-2980 2 LITHUANIAN COMPANIES NATIONAL STOCK EXCHANGE OF LITHUANIA Dear Reader, We are delighted to introduce the fifth edition of the annual publication GUIDE TO LISTED COMPANIES issued by the National Stock Exchange of Lithuania. This edition of the factbook provides a comprehensive profile of the companies listed on the NSEL. It is intended for investors, financial intermediaries, market analysts, business consultants, academic public - for all who are interested in investment and business opportunities in Lithuania. Guide to Listed Companies The GUIDE TO LISTED COMPANIES covers information on 45 issuers listed on the Official and Current Lists of the NSEL. The companies are grouped 2000 into their respective industries, and each sector is introduced with a brief overview. Macroeconomic review with key indicators and their forecast, data on investments in the Lithuanian securities market, and the NSEL trading statistics are included to furnish some background information. The publication provides concise information on the companies corporate history, business and developments, as well as prospects for 2001. The reader will also find key information about management, auditors, shareholders, subsidiaries, and capital structure of the listed companies. This general information was mainly drawn from the annual reports filed by the companies with the NSEL. Moreover, the publication contains audited financial reports, financial and market value ratios for years 1998-2000, as well as their stock performance over last three years and a half. We would like to extend our special thanks to the Central Securities Depository of Lithuania for their valuable input in publishing the GUIDE TO LISTED COMPANIES. Our sincere acknowledgements also go to Vilniaus Bankas AB for contributing professional sector research. We thank you for your attention to the publication and wish you successful investments in Lithuania! National Stock Exchange of Lithuania 3 LITHUANIANCONTENTS COMPANIES NACIONALINË VERTYBINIØ P0PIERIØ BIRÞA MACROECONOMIC REVIEW 7 NSEL TRADING STATISTICS 10 NSEL INDICES. CAPITALISATION 13 NSEL TRADING STATISTICS. STRUCTURE 14 CENTRAL SECURITIES DEPOSITORY OF LITHUANIA 15 TOP-100 LITHUANIAN COMPANIES 18 MANUFACTURING INDUSTRY 22 FOOD AND BEVERAGES 23 DAIRY PRODUCTS 23 Panevëþio Pienas 24 Pieno Þvaigþdës 27 Rokiðkio Sûris 30 Þemaitijos Pienas 33 BEER 36 Kalnapilis 37 Ragutis 40 BEVERAGES 43 Alita 44 Anykðèiø Vynas 47 Sema 50 Stumbras 53 LIGHT INDUSTRY 56 Alytaus Tekstilë 58 Kauno Audiniai 61 Linas 64 Ðiauliø Stumbras 67 Guide to Listed Companies Trinyèiai 70 Utenos Trikotaþas 73 2000 OIL AND PETROLEUM PRODUCTS 76 Maþeikiø Nafta 77 WOOD, FURNITURE AND PAPER 80 Grafobal Vilnius 81 Grigiðkës 84 Klaipëdos Baldai 87 Vilniaus Baldø Kombinatas 90 CHEMICALS AND CHEMICAL PRODUCTS 93 Lifosa 94 Sanitas 97 BUILDING MATERIALS AND CONSTRUCTION 100 Dvarèioniø Keramika 101 Panevëþio Statybos Trestas 104 ELECTRICAL AND OPTICAL EQUIPMENT 107 Ekranas 108 Vilniaus Vingis 111 Snaigë 114 ELECTRICITY AND GAS SUPPLY 117 Kauno Energija 118 Lietuvos Dujos 121 Lietuvos Energija 124 TRANSPORT 127 Klaipëdos Jûrø Kroviniø Kompanija (KLASCO) 128 Klaipëdos Nafta 131 Klaipëdos Transporto Laivynas 134 Lietuvos Jûrø Laivyninkystë (LISCO) 137 TELECOMMUNICATIONS 141 Lietuvos Telekomas 142 RETAIL TRADE 145 Apranga 146 BANKING SECTOR 151 Bankas Snoras 152 Lietuvos Taupomasis Bankas 156 Lietuvos Þemës Ûkio Bankas 160 Ðiauliø Bankas 165 Ûkio Bankas 170 INSURANCE 173 Lietuvos Draudimas 174 Invalda 177 Naftos terminalas 180 LIST OF MEMBERS 183 NOTES 185 4 LITHUANIAN COMPANIES NATIONAL STOCK EXCHANGE OF LITHUANIA Guide to Listed Companies 2000 Value is in the eye of the beholder. It's about measuring results in your terms. Not ours. And with our global network in over 130 countries, you'll get more than your money's worth. Together, we can be more resourceful. Bank on it. ey.com Audit, Tax, Accounting Services and Corporate Finance Tel.: +370 2 616610, fax: +370 2 227128, E-mail: [email protected] 5 LITHUANIAN COMPANIES NACIONALINË VERTYBINIØ P0PIERIØ BIRÞA JB&P is a commercial and corporate law Didþioji g. 23-25 LT-2001 Vilnius firm acting as a counsel to domestic and Lithuania foreign private and public legal entities. Tel.: +370 2 68 55 33 Any matter referred to JB&P is 68 55 35 68 55 36 approached in the light of the entire 68 55 37 Lithuanian legislative context and 68 55 38 Fax: +370 2 68 55 34 weighed against specific business E-mail: [email protected] environment of the client. www.jbp.lt Guide to Listed Companies 2000 JB&P is specialising in the following major areas: Securities, Banking and Finance Law - advise on acquisition finance, property finance, asset finance, project finance and other structured finance transactions as well as in treasury and capital markets. Real Estate Law – advice and drafting of contracts relating to real estate, including purchase, sale, lease, development and exploitations of real estate. Company Law and Competition Law – setting up, restructuring, liquidation of companies, advice regarding day-to-day activities, representation before competition authorities. Mergers & Acquisitions, Joint Ventures – planning of corporate M&A structures, due diligence engagements, advice and drafting of transaction documents. Privatisation issues and strategies – advice on and negotiations for most favourable privatisation schemes, legal support and representation during privatisation process. Energy and Environmental Law – investment and restructuring projects as well as related advice in energy and environmental sectors. Telecommunications and IT Law – advice on telecommunication and IT issues and representing before the public authorities. Transportation Law; Maritime & Shipping Law - overall servicing to carriage companies, ranging from advice on specific corporate issues to litigation abroad; advice on most favourable shipping regimes, sales and booking agency agreements, issues relating to the recovery of losses for lost cargo. Debt Collection / Debt Administration – representing and securing the interests of clients in debt administration and non-judicial debt recovery, as well as before the court or commercial arbitration. Additional information and response to specific questions may be obtained by e-mail [email protected] LITHUANIANMACROECONOMIC COMPANIES REVIEW NATIONAL STOCK EXCHANGE OF LITHUANIA KEY STATISTICS 1996 1997 1998 1999 2000 2001* 2002* GDP at current prices (LTL m) 31569 38340 42990 42655 44930 46860 50168 As compared to corresponding period of previous year at constant prices of 1993 (%) 4.7 7.3 5.1 -3.9 3.3 3.7 4.7 Inflation(average) (%) 13.1 8.4 2.4 0.3 1.4 0.6 2.1 Population (beginning of period) (thou) 3710 3706 3701 3699 3693 GDP per capita at current prices (LTL) 8510 10347 11611 11529 12157 Unemployment (annual) rate (%) 7.1 5.9 6.4 8.4 11.5 STRUCTURE OF GDP BY PRODUCTION APPROACH (at current prices) (%) Agriculture, fishing, hunting and forestry 12.3 11.7 10.3 8.3 7.5 7.6 7.5 Manufacturing, mining and quarrying 22.3 21.0 19.3 18.3 22.1 22.6 22.9 Electricity, gas and water supply 3.5 4.2 4.6 4.5 4.2 4.5 4.3 Construction 7.1 7.7 8.6 7.9 6.2 5.7 5.7 Wholesale and retail trade 16.8 16.5 16.3 15.4 15.4 15.5 15.4 Restaurants and hotels 1.7 1.8 1.4 1.5 1.4 1.4 1.4 Transport, storage and communications 9.5 9.6 9.6 11.4 12.2 12.2 12.6 Financial intermediation 2.8 2.4 2.3 2.3 2.4 2.6 2.6 Real estate, renting and business activities 7.6 7.2 7.7 8.8 8.3 8.3 8.2 Public administration and defence; compulsory social security 6.2 5.9 7.0 6.8 6.8 6.3 6.2 Guide to Listed Companies Education 5.0 5.5 6.2 7.1 6.8 6.9 6.7 Health and social work 2.8 3.6 3.7 4.1 3.7 3.4 3.4 Other community, social and personal service activities 2.5 3.0 3.0 3.3 3.2 3.0 3.1 2000 * inconclusive data The negative effects of the Russian crisis, which caused contraction of economy by 3.9% Since Lithuanias demand for debt creating flows was modest external debt remained low in 1999, were surmounted and the growth of economy resumed in 2000.
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