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

During the nine 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 97.0 million. It is by EUR 9.2 million less than during the nine months of 2019.

During the reporting period, the Group earned EUR 9.1 million profit before taxes, which is by EUR 2.5 million less than in the same period in 2019.

Earnings before interest, taxes, depreciation and amortization (EBITDA) of the Group, if compared with the nine months of 2019, decreased by EUR 2.2 million and reached EUR 17.9 million.

During the nine months of 2020, AB “Grigeo” (hereinafter – the Company) sales amounted to EUR 47.7 million, which is by EUR 1.6 million less than in the same period last year.

During the reporting period, the Company earned EUR 6.4 million profit before taxes. The Company's EBITDA reached EUR 10.5 million and, if compared with the same period last year, increased by EUR 2.7 million or 35 percent.

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 ) and dividends received from a subsidiary.

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

Gintautas Pangonis

President of Grigeo AB

(+370-5) 243 58 01

Attachments