2012-02-29 15:06:50 CET

2012-02-29 15:07:58 CET


REGULATED INFORMATION

Lithuanian English
Grigiskes AB - Interim information

GRIGISKES AB exceeded forecasts for 2011. Unaudited results of year 2011. 


Vilnius, Lithuania, 2012-02-29 15:06 CET (GLOBE NEWSWIRE) -- Over the year 2011
the consolidated turnover of GRIGISKES AB Group, which consists of the
production companies GRIGISKES AB, Baltwood UAB, Klaipedos kartonas AB, Mena
Pak OAO and company engaged in the waste paper business of Klaipeda recycling
UAB, outmeasured LTL 307.7 Mio (EUR 89.1 Mio). It is by LTL 7.7 Mio (EUR 2.2
Mio) or 2.6 % above proclaimed forecasted turnover for 2011. 

Over the same period the turnover of GRIGISKES AB outmeasured LTL 159.3 Mio
(EUR 46.1 Mio) and by LTL 14.3 Mio (EUR 4.1 Mio) or 9.9 % exceeded forecasted
turnover for 2011. 

Over the year 2011 the consolidated profit before taxes of GRIGISKES AB Group
reached LTL 18.8 Mio (EUR 5.4 Mio) and was by LTL 6.8 Mio (EUR 2.0 Mio) or 56.7
% higher than it was forecasted. 

Profit before taxes of the Company reached LTL 13.5 Mio (EUR 3.9 Mio) and was
by LTL 8.7 Mio (EUR 2.5 Mio) or 2.8 times higher than it was forecasted. 

Group's consolidated profit before taxes increased compared with the published
forecasts mostly due to the asset revaluation, which was needed by the transfer
of a part of activities to the subsidiary Baltwood UAB, announced on December
2, 2011. Asset revaluation increased profit before taxes by LTL 5.8 Mio (EUR
1.7 Mio). 

After the effect of asset revaluation is eliminated, the Group's unaudited
profit before tax is LTL 13.0 Mio (EUR 3.8 Mio), and accordingly the Company's
LTL 7.7 Mio (EUR 2.2 Mio), which is also higher than it was forecasted. This
increase was influenced by higher than expected sales of the Group companies as
well as more favorable than anticipated market conditions. 

More information is provided in the interim consolidated report of GRIGISKES AB
covering the twelve months of 2011 with endorsement of the responsible persons
(see attachments). 




         Gintautas Pangonis
         General Director
         (+370-5) 243 58 01