During the same period in question, the Company's sales amounted to Euro 13.4 million, which is Euro 0.2 million more than in the same period last year.
During the reporting period, the Group earned Euro 1.4 million profit before taxes, which is Euro 1.1 million, or by 44% less than in the same period last year.
During the three months of 2016, the Company earned Euro 0.4 million profit before taxes, which is Euro 0.7 million, or by 63.6% less than in the same period last year.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) of the Group and Company, if compared with the three months of 2015, decreased by 12.9% and 10%, respectively: during the three months of 2016, EBITDA of the Group was Euro 4.1 million, of the Company Euro 2.1 million.
During the three months of 2016, profitability of the Group and Company was lower than a year ago, largelydue to the result of other operations. In 2015 the result of other operations was increased by income from disposal of emission allowances and sales of non-current assets.Investments of 2015 were financed by these funds. Also, the profitability was partly influenced bymore expensive raw materials and electricity, if compared with the 1Q 2015.
AB Grigeo Grigiškes produces and sells toilet paper, paper towels, paper napkins, corrugated cardboards, and products from corrugated cardboards.
