OREANDA-NEWS. During the 1st quarter of 2013, 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 76.2 million (EUR 22.1 million). It is LTL 3.5 million (EUR 1.0 million) or 5% more than during the 1st quarter in 2012.

During the same period in question, the Company's sales amounted to LTL 32.5 million (EUR 9.4 million), which is LTL 6.9 million (EUR 2.0 million) or 27% more than in the same period last year.

During the reporting period, the Group earned LTL 1.88 million (EUR 0.5 million) profit before taxes, which is LTL 0.7 million (EUR 0.2 million) or 60% more than in the 1st quarter of 2012.

In the 1st quarter of 2013, the Company earned LTL 1.44 million (EUR 0.4 million) profit before taxes. Considering the fact that from the 2nd quarter 2012 the Company put a new corrugated board manufacturing unit and several new paper production lines into operation and started accounting their depreciation, in the 1st quarter 2013 if compared with the same period in 2012, the Company's profit before taxes dropped down by LTL 0.76 million (EUR 0.2 million).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) of the Group and Company, if compared with the 1st quarter of 2012, increased by 31% and 12%, respectively: in the 1st quarter of 2013, EBITDA of the Group was LTL 9.0 million (EUR 2.6 million), of the Company LTL 5.2 million (EUR 1.5 million).

Growth of financial figures was achieved at the result of completed implementation of the first two stages of the investment programme in 2012: in the 2nd quarter of 2012, a new corrugated board manufacturing unit was put into operation, in the end of 2012, four new paper converting lines were launched.

GRIGISKES AB is planning to achieve double growth in the sales of the company's products upon completion of paper production machine investment project and thus completion of the third stage of the Group's investment programme in 2014. Growing sales of the Group are expected to be LTL 500 million (EUR 145 million).