Grigiskes AB - Other information

GRIGISKES AB reached annual targets set for 2013

Vilnius, Lithuania, 2014-02-24 09:45 CET (GLOBE NEWSWIRE) -- The year of 2013
was rich with the material events to the Company and the Group: in the
beginning of the year a loan supply contract for LTL 35 Mio (EUR 10.1 Mio) for
a purchase and construction of a new paper manufacturing machine was signed;
successfull SPO with the value of LTL 10 million (EUR 2.9 million); the
mentioned paper manufacturing machine was ordered and it's production process
started; the construction of two biofuel boilers started in Vilnius and
Klaipėda; the projects of increase of efficiency of thermal energy in Klaipėdos
kartonas AB and improvement of performance of wood fiber board production line
in Baltwood UAB were implemented; volumes of sales were increased. 

During the twelve months of 2013, the Group consisting of GRIGISKES AB,
Baltwood UAB, Klaipedos kartonas AB, Mena Pak PAT, and Klaipeda recycling UAB
achieved the consolidate sales turnover of LTL 328.8 million (EUR 95.2
million). It is LTL 39.3 million (EUR 11.4 million) or 13.6% more than during
the twelve months in 2012. 

During the same period in question, the Company's sales amounted to LTL 148.6
million (EUR 43.0 million), which is LTL 37.6 million (EUR 10.9 million) or
33.8% more than in the same period last year. 

During the reporting period, the Group earned LTL 15.4 million (EUR 4.5
million) profit before taxes, which is LTL 4.7 million (EUR 1.4 million) or
44.6% more than in the same period last year. 

During the twelve months of 2013, the Company earned LTL 7.1 million (EUR 2.1
million) profit before taxes. 

Earnings before interest, taxes, depreciation and amortisation (EBITDA) of the
Group and Company, if compared with the twelve months of 2012, increased by
22.6% and 10.3%, respectively: during the twelve months of 2013, EBITDA of the
Group was LTL 43.6 million (EUR 12.6 million), of the Company LTL 22.7 million
(EUR 6.6 million). 

Growth of financial figures was achieved at the result of completed investments
in 2012 and the expansion of sales in 2013. 

According to the evaluation made by the Board of GRIGISKES AB, on the 11th of
January 2013 proclaimed forecasted financial indicators for the year 2013 of
GRIGISKES AB and Group are achieved. Thus, the Ordinary General Meeting of
Shareholders of the Company will be proposed to distribute for dividends for
the year 2013 of not less than two times higher than the dividend per share was
paid for the year 2012. 


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