GRIGISKES AB: plans for the year 2014

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| Source: Grigiskes AB
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Vilnius, Lithuania, 2013-12-20 12:43 CET (GLOBE NEWSWIRE) -- The Board meeting on December 19, 2013 approved budget for the year 2014.

It is planned that the Group which consists of companies GRIGISKES AB, Baltwood UAB, Klaipedos kartonas AB, Mena Pak OAO and Klaipeda Recycling UAB in the year 2014 will reach a turnover of LTL 360 Mio. (EUR 104.3 Mio), which will be by LTL 30 Mio (EUR 8.7 Mio) or 9% higher than the expected turnover of 2013. The Group’s profit before taxes will reach LTL 20 Mio (EUR 5.8 Mio) and will be by LTL 6.6 Mio (EUR 1.9 Mio) or 49% higher than it is expected for the year 2013. It is also planned that EBITDA of the Group will reach LTL 51 Mio. (EUR 14,8 Mio.) in 2014.

It planned that GRIGISKES AB in the year 2014 will reach a turnover of LTL 170 Mio (EUR 49.2 Mio) and will be by LTL 22 Mio (EUR 6.7 Mio) or 15% higher than it is expected for the year 2013. The company will earn a profit before taxes of LTL 7.5 Mio (EUR 2.2 Mio) which will be by LTL 0.5 Mio (EUR 0.1 Mio) or 7% higher than it is expected for the year 2013. It is also planned that EBITDA of GRIGISKES AB will reach LTL 24 Mio. (EUR 6.95 Mio.) in 2014.

These goals will be achieved by expanding the Group's sales in the local and foreign markets. The profitability will be increased by implementing energy-saving and energy cost reduction investment projects.

These forecasts are not audited.

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