Vilnius, Lithuania
On December 19, 2018, the Board of AB Grigeo approved budget of 2019.
It is planned that the Group that consists of companies AB Grigeo, UAB Grigeo Baltwood, AB Grigeo Klaipeda, PAT Mena Pak, UAB Grigeo Recycling and UAB Grigeo Packaging in the year 2019 will reach a turnover of EUR 154 Mio., which will be by EUR 11.2 Mio. or 7.8% higher than the expected turnover of 2018. The Group’s profit before taxes will reach EUR 14.4 Mio. and will be by EUR 0.6 Mio. or 4.3% higher than it is expected for the year 2018.
It is also planned that EBITDA of the Group will reach EUR 27.2 Mio., EUR 0.5 Mio. or 1.8% less than in 2018.
In the year 2019 the company provides for the transfer of corrugated cardboard business to its subsidiary UAB Grigeo Packaging (26 10 2018 Notification on material event). Approximately 30% corrected sales of the Company. AB Grigeo concentrates exclusively on the production of tissue paper products. It is planned that AB Grigeo in the year 2019 will reach a turnover of EUR 66.5 Mio., profit before taxes of EUR 2.4 Mio., EBITDA - EUR 8.6 Mio.
The Company and Group do not change 2018 forecasts.
These forecasts are not audited.
Gintautas Pangonis
President of AB „Grigeo“
(+370-5) 243 58 01