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Grigeo Group's turnover is expected to grow by 19 per cent in 2017

Thursday, Dec 29, 2016

The Board of AB Grigeo Grigiškes approved budget of 2017 and adjusted expected results for the year 2016.

It is planned that the Group that consists of companies AB Grigeo Grigiškes, UAB Grigeo Baltwood, AB GrigeoKlaipedos kartonas, PAT Mena Pak and UAB Grigeo Recycling in the year 2017 will reach a turnover of Euro 121.5 million, which will be by Euro 19.6 million, or 19% higher than the expected turnover of 2016.

The Group’s profit before taxes will reach Euro 5.8 million and will be by Euro 1.3 million, or 29% higher than it is expected for the year 2016. It is also planned that EBITDA of the Group will grow by Euro 4.5 million and will reach Euro 20.7 million in 2017.

It is planned that AB Grigeo Grigiškes in the year 2017 will reach a turnover of Euro 68 million and will be by Euro 11.6 million, or 21% higher than it is expected for the year 2016. The Company will earn a profit before taxes of Euro 3 million. It is also planned that in 2017 EBITDA of AB Grigeo Grigiškes will grow by Euro 2.1 million and will reach Euro 11.5 million.

Taking into account the actual results of eleven months, forecasts for December, the Company adjusted financial indicators for the year 2016: sales of AB Grigeo Grigiškes - Euro 56.4 million, profit before taxes – Euro 3.3 million, EBITDA – Euro 9.4 million. Indicators are adjustment due to the price changes of raw materials causing corrections of products pricing.

In addition to mentioned, Group adjusted forecasts for the year 2016: sales of the Group - Euro 101.9 million, profit before taxes – Euro 4.5 million, EBITDA – Euro 16.2 million. These forecasts are not audited.

AB Grigeo Grigiškes produces and sells toilet paper, paper towels, paper napkins, corrugated cardboards, and products from corrugated cardboards.

 

Source: pulpapernews.com

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