Lithuania: Gubernija AB incurred pre-audit losses of LTL1.58 million (€0.458 million) between January - September 2006

Gubernija AB, a major Lithuanian beer producer and one of the oldest industrial brewery in Baltic states, lost LTL2.1 million (€0.61 million) during the first nine months of the year. However, this is up 10.5 percent from the company’s losses of LTL1.9 million during the same period last year, Baltic Times published November 01.

Sales fell by 4 percent to LTL40.92 million, according to the company’s financial report. Beer production declined by 7.5 percent and the total production output was down 4.6 percent. Beer exports rose by 25.8 percent to 36,000 HL. The company, which is based in Siauliai, managed to trim annual losses to LTL4.1 million last year, down 13.9 percent from losses of LTL4.8 million the previous year. Revenues increased by 8.8 percent to LTL54.9 million.

Gubernija is one of the oldest industrial brewery which has evolved from the original concept of estate pub and brewery that were not only in Lithuania but in all Baltic states. Historical sources testify that brewery Gubernija has been producing beer since 1665.