Interim consolidated report of AB Grigeo covering twelve months of 2020 and endorsement of the responsible persons

During the twelve months of 2020, AB „Grigeo” group (hereinafter – the Group), consisting of AB „Grigeo”, UAB „Grigeo Packaging“, UAB „Grigeo Baltwood“, AB „Grigeo Klaipėda“, AT „Mena Pak“, UAB „Grigeo Recycling“, SIA „Grigeo Recycling” and UAB „Grigeo investicijų valdymas“, achieved the consolidate sales turnover of EUR 129.9 million. It is by EUR 10.4 million less than during the twelve months of 2019.

During the reporting period, the Group earned EUR 14.9 million profit before taxes, which is by EUR 0.9 million less than in the same period in 2019.

Earnings before interest, taxes, depreciation and amortization (EBITDA) of the Group, if compared with the twelve months of 2019, decreased by EUR 2.4 million and reached EUR 26.2 million.

During the twelve months of 2020, AB „Grigeo” (hereinafter – the Company) sales amounted to EUR 63.6 million, which is by EUR 1.5 million less than in the same period last year.

During the reporting period, the Company earned EUR 9.9 million profit before taxes. The Company's EBITDA reached EUR 14.8 million and, if compared with the same period last year, increased by EUR 3.2 million or 28 percent.

The following table summarizes the numbers stated in this announcement:

*Company's profit before taxes in year 2019 was determined by the transfer of the corrugated cardboard production business to the subsidiary UAB „Grigeo Packaging” (more detailed information is disclosed in the 2019-01-03 notice on material event).

More information is provided in the interim consolidated report of AB „Grigeo” covering the twelve months of 2020 with endorsement of the responsible persons (see attachments).

Gintautas Pangonis
President of Grigeo AB
(+370-5) 243 58 01

Attachment

• Grigeo 2020 12 months interim information