Posted 十二月 23, 2015
Dec 23, 2015. /Lesprom Network/. The Board of AB Grigeo Grigiskes reviewed expected results for the year 2015 and planned financials indicators for the year 2016.
Taking into account the actual results of eleven months, forecasts for December, the Company specifies financial indicators for the year 2015: sales of AB Grigeo Grigiskes - Euro 54.4 million, profit before taxes – Euro 2.6 million, EBITDA – Euro 8.1 million. Indicators are adjustment due to the price changes of raw materials causing corrections of products pricing.
In addition to mentioned, Group increases forecasts of profitability: sales of the Group - Euro 104 million, profit before taxes – Euro 8.3 million, EBITDA – Euro 18.3 million. Cause of this positive adjustment is - compared with expected more successful activity of subsidiary companies.
The Board of AB Grigeo Grigiskes plans for the year of 2016 were approved. It is planned that the Group that consists of companies AB Grigeo Grigiskes, UAB Grigeo Baltwood, AB GrigeoKlaipedos kartonas, PAT Mena Pak and UAB Grigeo Recycling in the year 2016 will reach a turnover of Euro 112 million, which will be by Euro 7.7 million, or 7% higher than the expected turnover of 2015.
The Group’s profit before taxes will reach Euro 11.1 million and will be by Euro 2.8 million, or 34% higher than it is expected for the year 2015. It is also planned that EBITDA of the Group will grow by Euro 1.2 million and will reach Euro 19.5 million in 2016.
It is planned that AB Grigeo Grigiskes in the year 2016 will reach a turnover of Euro 68.3 million and will be by Euro 13.9 million, or 26% higher than it is expected for the year 2015. It is also planned that in 2016 EBITDA of AB Grigeo Grigiškės will reach Euro 11 million.
These goals will be achieved owing to latter investment which increases production potential of Group Companies. A new tissue papermaking machine successfully operates achieving designed speed of 1800 m/min. Modernization of corrugator has reached the final stage and a new packaging production line is ordered and will start to operate in the mid-year of 2016.
Grigiskes is the biggest manufacturer of sanitary-household paper in the Baltic countries. The company is a manufacturer of toilet paper, paper towels and napkins, corrugated cardboard and cartons, hardboard and painted hardboard.