Lithuanian tissue producer Grigiskes boosts sales in Q1 by 19.1% year-over-year, to 38.7M litas; 2013 volume market share for company's Grite brand tissue products in Lithuania increased to 40.4% for toilet paper and to 32.4% for paper towels

VILNIUS, Lithuania , April 15, 2014 (press release) –

Notification on material event

As the Company announces, in the beginning of this year, Nielsen market data confirmed, that in Lithuania GRITE trademarked products convincingly established itself in tissue market leaders positions. During year 2013 vs. year 2012, in modern trade toilet paper category GRITE brand volume market share increased by +5.5 pp to 40.4 %, and in paper towels category GRITE brand growth was accelerated by +11.7 pp to 32.4%.

On these days AB GRIGIŠKĖS achieved good news, that confirms very good year 2013 sales. GRITE brand was awarded for the increased consumer’s attention in prestigious competition named “Brand of the year 2014”, which was organized by national business newspaper VERSLO ZINIOS ".

Commission chairman Artūras Urbonavičius, who is Research Company Nielsen sales analytics manager for Eastern Europe, said: “AB GRIGIŠKĖS during recent years have invested a lot into new products and innovations. Non-food market until now was dominated by non-Lithuanian brands and now GRITE brand stands in an equivalent position with them. Consumers see, understand, perceive and purchase GRITE as Lithuanian product. It is grate, that the Lithuanian non-food brand is able to successfully compete with global brands in both quality and consumer likes.”

According to unaudited data during the three 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 86.2 million (EUR 25 million). It is LTL 10 million (EUR 2.9 million) or 13.1% more than during the three months in 2013.

During the same period in question, the Company's sales amounted to LTL 38.7 million (EUR 11.2 million), which is LTL 6.2 million (EUR 1.8 million) or 19.1 % more than in the same period last year.

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