Interim consolidated financial statement of Grigeo AB covering 6 months of 2022
Over 6 months of 2022, Grigeo AB company group (hereinafter – the Group), consisting of Grigeo AB, Grigeo Packaging UAB, Grigeo Baltwood UAB, Grigeo Klaipėda AB, Mena Pak AT, Grigeo Recycling UAB, Grigeo Recycling SIA and Grigeo investicijų valdymas UAB achieved the consolidated sales turnover of EUR 101.8 million. It is by EUR 28.1 million more than over 6 months of 2021.
Over the reporting period, the Group earned EUR 8.7 million profit before taxes, which is by EUR 0.1 million more than in the same period in 2021.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) of the Group, if compared with 6 months of 2021, decreased by EUR 0.1 million and reached EUR 13.4 million.
Over 6 months of 2022, Grigeo AB (hereinafter – the Company) sales amounted to EUR 40.2 million, which is by EUR 9.4 million more than in the same period in 2021.
Over the reporting period, the Company earned EUR 14.5 million profit before taxes, which is by EUR 10.1 million more than in the same period in 2021. Significant increase in Company’s profit before tax is related to the dividends received from the subsidiaries.
The Company's EBITDA reached EUR 5.3 million and, if compared with the same period in 2021, increased by EUR 0.1 million.
The following table summarizes 6-month performance numbers stated in this announcement:
| Indicator, EUR million | Group | Company | ||||
| 2022 | 2021 | Change | 2022 | 2021 | Change | |
| Revenue | 101.8 | 73.7 | 38.1% | 40.2 | 30.8 | 30.4% |
| EBITDA | 13.4 | 13.5 | -1.0% | 5.3 | 5.1 | 2.8% |
| Profit before tax (EBT) | 8.7 | 8.6 | 0.8% | 14.5 | 4.4 | 228.0% |
More details on these changes are presented in interim management report and unaudited consolidated financial statements of Grigeo AB covering 6 months of 2022 (see attachments).
Gintautas Pangonis
President of Grigeo AB
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