Vilnius, Lithuania, 2015-02-27 10:22 CET (GLOBE NEWSWIRE) -- During the twelve months of 2014, the Group consisting of GRIGISKES AB, Baltwood UAB, Klaipedos kartonas AB, Mena Pak PAT, and Klaipeda recycling UAB achieved the consolidate sales turnover of LTL 343.7 million (EUR 99.5 million). It is LTL 14.9 million (EUR 4.3 million) or 4.5% more than during the twelve months in 2013.
During the same period in question, the Company's sales amounted to LTL 167.1 million (EUR 48.4 million), which is LTL 18.5 million (EUR 5.4 million) or 12.5% more than in the same period last year.
During the reporting period, the Group earned LTL 25.9 million (EUR 7.5 million) profit before taxes, which is LTL 10.9 million (EUR 3.2 million) or 72.8% more than in the same period last year.
During the twelve months of 2014, the Company earned LTL 12.3 million (EUR 3.6 million) profit before taxes.
„Our results of 2014 show that the Group managed to balance sales expansion with search of more profitable set of products and markets, - G.Pangonis, President of GRIGISKES AB comments. – Moreover, increasing profit, which rose more than 70%, proves that the Group took weighted and proper decisions to invest into energy-saving production facilities and 2 new bio-fuel boiler houses in Vilnius and Klaipeda.”
Presently, the Company is in the final implementation stage of its biggest investment project amounting 15.3 million Euro. New paper producing machine is currently being tested, and paper production start is planned in March 2015.
According to the evaluation made by the Board of GRIGISKES AB, on the 20th of December 2013 proclaimed forecasted financial indicators for the year 2014 of GRIGISKES AB and Group are achieved. Thus, the Ordinary General Meeting of Shareholders of the Company will be proposed to distribute for dividends for the year 2014 almost 7 cents of LTL per share, which would be equal to 2 cents of EUR per share.
Gintautas Pangonis
President of GRIGISKES AB
(+370-5) 243 58 01