Grigiskes - Notification on material event

GRIGISKES AB: dividends forecast and plans for the year 2015.

Vilnius, Lithuania, 2014-12-22 08:28 CET (GLOBE NEWSWIRE) -- The Board of
GRIGISKES AB reviewed expected results for the 20104, planned financials
indicators for the year 2015 and made the following decisions. 

Taking into account the actual results, forecasted financial indicators for the
year 2014 the Board of GRIGISKES AB will propose to the Ordinary Annual General
Meeting of Shareholders for the second year in a row to increase the dividend
per share. After the approval of Ordinary Annual General Meeting of
Shareholders it would be distributed for dividends and paid almost 7 cents of
LTL per share, which would be equal to 2 cents of EUR per share. It would be
the biggest dividends per share over the last 11 years paid by Company. 

In the same meeting of the Board of GRIGISKES AB plans for the year of 2015
were approved. 

It is planned that the Group that consists of companies GRIGISKES AB, Baltwood
UAB, Klaipedos kartonas AB, Mena Pak PAT and Klaipeda Recycling UAB in the year
2015 will reach a turnover of LTL 385 Mio. (EUR 111.5 Mio), which will be by
LTL 25 Mio (EUR 7.2 Mio) or 7% higher than the expected turnover of 2014. The
Group's profit before taxes will reach LTL 27 Mio (EUR 7.8 Mio) and will be by
LTL 7 Mio (EUR 2 Mio) or 35% higher than it is expected for the year 2014. It
is also planned that EBITDA of the Group will reach LTL 60 Mio. (EUR 17.4 Mio.)
in 2015. 

It is planned that GRIGISKES AB in the year 2015 will reach a turnover of LTL
210 Mio (EUR 60.8 Mio) and will be by LTL 40 Mio (EUR 11.6 Mio) or 23.5% higher
than it is expected for the year 2014. The company will earn a profit before
taxes of LTL 11 Mio (EUR 3.2 Mio) which will be by LTL 3.5 Mio (EUR 1 Mio)
higher than it is announced for the year 2014. It is also planned that EBITDA
of GRIGISKES AB will reach LTL 32 Mio. (EUR 9.3 Mio.) in 2015. 

These goals will be achieved by expanding the Group's sales in the local and
foreign markets. The growth of GRIGISKES AB sales will be the highest in the
Group. These results will be achieved after beginning to operate a new
papermaking machine in the first quarter of 2015. The new papermaking machine
will replace the two oldest ones out of three machines operating in Company's.
After this upgrade, GRIGISKES AB will produce paper products in 2015 by 36%
more compared to the production of year 2014. 

These forecasts are not audited.


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