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Interim consolidated financial statement of Grigeo AB covering 12 months of 2022

Grigeo
Grigeo

Over 12 months of 2022, Grigeo AB company group (hereinafter – the Group), consisting of Grigeo AB, Grigeo Packaging UAB, Grigeo Baltwood UAB, Grigeo Klaipėda AB, Mena Pak AT, Grigeo Recycling UAB, Grigeo Recycling SIA and Grigeo investicijų valdymas UAB achieved the consolidated sales turnover of EUR 203.2 million. It is by EUR 40.0 million more than over respective period of 2021.

Over the reporting period, the Group earned EUR 11.7 million profit before taxes, which is by EUR 2.0 million less than in the same period in 2021.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) of the Group, if compared with 12 months of 2021, decreased by EUR 2.4 million and reached EUR 21.4 million.

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Over the reporting period, Grigeo AB (hereinafter – the Company) sales amounted to EUR 90.5 million, which is by EUR 22.9 million more than in the same period in 2021.

Over the reporting period, the Company earned EUR 17.2 million profit before taxes, which is by EUR 14.3 million more than in the same period in 2021. Significant increase in Company’s profit before tax is related to the dividends received from the subsidiaries.

The Company's EBITDA reached EUR 10.1 million and, if compared with the same period in 2021, increased by EUR 4.2 million.

The following table summarizes 12-month performance numbers stated in this announcement:

Indicator, EUR million

Group

Company

2022

2021

Change

2022

2021

Change

Revenue

203.2

163.2

24.5%

90.5

67.6

33.8%

EBITDA*

21.4

23.7

-10.0%

10.1

5.9

70.6%

Profit before tax (EBT)

11.7

13.6

-14.3%

17.2

2.9

497.5%

*Calculations are disclosed in Note 18 of attached statements.

More details on these changes are presented in interim management report and unaudited consolidated financial statements of Grigeo AB covering 12 months of 2022 (see attachments).

Vigmantas Kažukauskas
Acting president of Grigeo AB, vice president for business development

+370 5 243 58 01

Attachment