Grigiskes AB - Notification on material event

GRIGISKES AB increases profit forecast for the year 2012

Vilnius, Lithuania, 2012-11-30 11:08 CET (GLOBE NEWSWIRE) -- As the results of
the nine months and tendencies of the fourth quarter of the year 2012 were
evaluated the forecast of financial indicators for the year 2012 of GRIGISKES
AB and the Group proclaimed on the 9th of January 2012 is changed. 

It is planned that The Group which consists of companies GRIGISKES AB, Baltwood
UAB, Klaipedos kartonas AB, Klaipeda Recycling UAB and Mena Pak OAO in the year
2012 will reach a turnover of LTL 290 Mio. (EUR 84.0 Mio), which is by LTL 17.7
Mio (EUR 5.1 Mio) or 5.8% lover compared to the audited turnover of 2011. The
Group's profit before taxes will reach LTL 13 Mio (EUR 3.8 Mio) and will be
higher by LTL 1 Mio (EUR 0.3 Mio) or 8.3% compared to the audited one of the
year 2011. 

Group turnover forecast is reduced for the following reasons.Although this
year, a subsidiary company Klaipedos kartonas AB production amount reached the
quantities of 2011, turnover decreased as the average market prices of
cardboard paper fell by 13-14% compared to nine mounts of the year 2011. The
second reason is the larger amount of intra-group transactions, the subject for
consolidation, influenced by implemented optimisation of the supply of the raw
materials. Forecasted Group's profitability before taxes for the year 2012 is
4.5%, compared to the audited 3.9% of the year 2011. The mentioned higher
profitability is influenced by optimisation mentioned above. 

It is also planned that GRIGISKES AB in the year 2012 will reach a turnover of
LTL 111 Mio (EUR 32.1 Mio) and will be less by LTL 48.3 Mio (EUR 14 Mio) than
audited sales of the year 2011 are.On the 31st of December 2012 implemented
transference of a part of activities to a subsidiary is the main reason of
mentioned turnover decrease. The company will earn a profit before taxes of LTL
9.5 Mio (EUR 2.8 Mio) which will be by two times higher than it was forecasted
in the beginning of the year. 

These forecasts are not audited.




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