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

During the six 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“ and SIA “Grigeo Recycling”, achieved the consolidate sales turnover of EUR 65.1 million. It is by EUR 5.7 million or 8 percent less than during the six months of 2019.

During the reporting period, the Group earned EUR 6.3 million profit before taxes, which is by EUR 0.27 million more than in the same period in 2019.

Earnings before interest, taxes, depreciation and amortization (EBITDA) of the Group, if compared with the six months of 2019, increased by EUR 0.6 million and reached EUR 12.3 million.

During the six months of 2020, AB “Grigeo” (hereinafter – the Company) sales amounted to EUR 32.4 million, which is by EUR 0.3 million less than in the same period last year.

During the reporting period, the Company earned EUR 4.3 million profit before taxes. The Company's EBITDA reached EUR 7.1 million and, if compared with the same period last year, increased by EUR 3.1 million.

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 ).

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

Gintautas Pangonis

President of Grigeo AB

(+370-5) 243 58 01

Attachments