Declared Dividend • May 06
Dividend reduced to €0.05 Dividend of €0.05 is 17% lower than last year. Ex-date: 14th May 2026 Payment date: 26th May 2026 Dividend yield will be 4.7%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but not covered by cash flows (dividend approximately 17x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. お知らせ • Apr 30
Grigeo Group AB Approves Cash Dividend for the Year 2025 Grigeo Group AB, at its Annual General Meeting of Shareholders, held on 30 April 2026, adopted to approve the appropriation of the Company’s profit for the year 2025 according to the draft of profit appropriation presented for the Annual General Meeting of Shareholders (attached) and to allocate EUR 6,641,000 to dividends (what makes EUR 0.05 per share). お知らせ • Apr 09
Grigeo Group AB, Annual General Meeting, Apr 30, 2026 Grigeo Group AB, Annual General Meeting, Apr 30, 2026, at 11:00 FLE Standard Time. Location: vilniaus str. 10, grigiskes, vilnius city municipality lithuania, Lithuania お知らせ • Apr 08
Grigeo Group AB Proposes Dividend for the Year Ended December 31, 2025 Grigeo Group AB, at its Annual General Meeting of Shareholders to be held on 30 April 2026, proposes to approve the draft appropriation of the Company’s profit for the year ended December 31, 2025 and to allocate EUR 6,641,000, equivalent to EUR 0.05 per share. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: €0.13 (vs €0.16 in FY 2024) Full year 2025 results: EPS: €0.13 (down from €0.16 in FY 2024). Revenue: €246.6m (up 16% from FY 2024). Net income: €16.8m (down 19% from FY 2024). Profit margin: 6.8% (down from 9.8% in FY 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to €1.11, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 19x in the Forestry industry in Europe. Reported Earnings • Nov 23
Third quarter 2025 earnings released: EPS: €0.037 (vs €0.029 in 3Q 2024) Third quarter 2025 results: EPS: €0.037 (up from €0.029 in 3Q 2024). Revenue: €56.3m (up 4.5% from 3Q 2024). Net income: €4.82m (up 27% from 3Q 2024). Profit margin: 8.6% (up from 7.0% in 3Q 2024). The increase in margin was driven by higher revenue. お知らせ • Apr 07
Grigeo Group AB, Annual General Meeting, Apr 28, 2025 Grigeo Group AB, Annual General Meeting, Apr 28, 2025, at 11:00 FLE Standard Time. Location: vilniaus str. 10, grigiskes, vilnius city municipality, in the second-floor hall of the company`s, administrative building, Lithuania お知らせ • Apr 05
Grigeo Group AB Proposes Dividend for the Year 2024 Grigeo Group AB announced on 4 April 2025 the board of the company has decided to present to the Annual General Meeting of Shareholders of the company which is to be held on 28 of April 2025, the following information: The board of the company proposes to approve the presented draft appropriation of the company’s profit for the year 2024 and to allocate EUR 7,884,000 to dividends (what makes EUR 0.06 per share). お知らせ • May 29
AB „Grigeo Group” Announces Board Changes AB „Grigeo Group” informed that on 29th May 2024 the Supervisory Board of the Company has revoked Martynas Nenenas from his position as a member of the Board. As of 30th May 2024, Robertas Krutikovas has been appointed as a new member of the Board. R. Krutikovas has been working and holding managerial positions in the companies managed by AB „Grigeo Group” since January 2008. お知らせ • Apr 27
Grigeo AB Approves Dividend for the Year 2023, Starting from May 22, 2024 Grigeo AB at its AGM held on April 26, 2024 approved dividend of EUR 0.07 per share for the year 2023. The rights accounting day of the shareholders of the General Meeting of Shareholders is 13th May 2024. The proprietary rights will be held by the persons who, at the close of the tenth working day after the General Meeting of Shareholders which adopted the appropriate decision, i.e. on 13th May 2024, will be the shareholders of the Company. Proceeding from the above, the ex-date is 10th May 2024. From that date the new owner of the shares, which were acquired on stock exchange with settlement cycle of T+2, is not entitled to dividends for the year 2023. The Company will pay EUR 9,198,000 dividends (what makes EUR 0.07 per share) allocated by the decision of the General Meeting of Shareholders of 26th April 2024, starting from 22nd May 2024. お知らせ • Mar 30
Grigeo AB (NSEL:GRG1L) completed the acquisition of Factories of Glucholaskie Zaklady Papiernicze sp. z o.o from Glucholaskie Zaklady Papiernicze Sp Z O O. Grigeo AB (NSEL:GRG1L) signed a preliminary share purchase agreement to acquire Factories of Glucholaskie Zaklady Papiernicze sp. z o.o from Glucholaskie Zaklady Papiernicze Sp Z O O on September 26, 2023.The Company plans to finance this acquisition from its own financial resources. The transaction is planned to be completed within 6 months, subject to the conditions precedent specified in the agreement. Based on unaudited data, the annual turnover of the GZP division in Niedomice for 2022 was €40 million, with an EBITDA of €3.8 million. According to available data, the estimated enterprise value is €22 million. Bird & Bird acted as legal advisor to Factories of Glucholaskie. Santander acted as financial advisor to Factories of Glucholaskie. Superia Corporate Finance acted as financial advisor to Grigeo. Glimstedt and Penteris acted as legal advisors to Grigeo in the transaction.
Grigeo AB (NSEL:GRG1L) completed the acquisition of Factories of Glucholaskie Zaklady Papiernicze sp. z o.o from Glucholaskie Zaklady Papiernicze Sp Z O O on March 28, 2024. Superia Corporate Finance acted as financial advisor and KPMG Lithuania acted as financial due diligence provider to Grigeo AB. お知らせ • Jan 02
Grigeo AB to Report Fiscal Year 2023 Results on Feb 22, 2024 Grigeo AB announced that they will report fiscal year 2023 results on Feb 22, 2024 お知らせ • Nov 29
Grigeo AB Announces Changes in the Structure of Grigeo AB Group of Companies On November 27, 2023 the board of Grigeo AB to ensure more efficient management and development of the businesses of Grigeo AB group of companies, adopted a decision on changing the structure of the Group. The structural changes are planned to divide the Group’s activities more clearly into business segments, separating and forming the hygiene paper segment next to the existing packaging and wood fibre board segments. The Company plans to transfer its current tissue paper business, as a complex of assets, rights and liabilities, to its newly established and 100% owned subsidiary, and combining its management with the management of the factory to be acquired in Poland. The value of the tissue paper business to be transferred to the subsidiary will be determined in a business valuation report by an independent asset valuer. It is planned that changes in the Group's structure will be implemented in the first half of 2024. After the transfer of the business, the production of tissue paper in Lithuania will continue to be carried out at the same address as before the transfer of the business – Vilniaus street 10, Grigiškes, Vilnius city municipality, Republic of Lithuania. The structural changes of the Group will not affect the continuity of work, length of service, accrued vacation days or any other available benefits of the Company's employees. The changes in the structure of the Group will be implemented in accordance with the requirements of the legal acts of the Republic of Lithuania, after receiving the necessary permits and/or consents from the relevant state and local municipal institutions, after receiving the opinion of the Company's Audit Committee and the consent of the Supervisory Board regarding the conclusion of the transaction with the related party, in cooperation with the Company's partners and after consultations with the trade union operating at the Company level. After implementing the changes to the structure of the Group, the Company would retain centralized supervision and control of the Group's financial accounting and business analytics, personnel management, legal services, information technology maintenance, procurement and in other functions that the Group’s companies are serviced. The Board of the Company believes that the separation of the Group's activities, including the concentration of the Company's current tissue paper production business in a separate company, will ensure greater clarity and efficiency of the Group's business management and strengthen its position in the market of tissue paper production in the Baltic countries and Poland. In the short term, the changes in the structure of the Group will not have a significant impact on the Group's financial indicators, but in the opinion of the Board, in the medium and long term, the separation of the segment and the merger of management will bring economic benefits to the results of the Group. Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: €0.049 (vs €0.041 in 2Q 2022) Second quarter 2023 results: EPS: €0.049 (up from €0.041 in 2Q 2022). Revenue: €49.1m (down 5.4% from 2Q 2022). Net income: €6.43m (up 20% from 2Q 2022). Profit margin: 13% (up from 10% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings have declined by 1.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 1.5% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. お知らせ • May 06
Grigeo AB Appoints Tomas Jozonis as the Manager (CEO) of the Company On 5 ??y 2023 the Board of Grigeo AB appointed Tomas Jozonis as the Manager (CEO) of the Company. Gintautas Pangonis, the long-term Manager of the Company, who has been the President of Grigeo AB until now, will purposefully strengthen the strategic management of the Grigeo AB company group - he will hold the position of the Chairman of the Board of Grigeo AB and will serve on the boards of companies of the Grigeo AB company group. T. Jozonis, who has a master's degree in business, has been working in the Grigeo AB group of companies since 2013, he is a member of the Board of the Company and other companies in the group. Having started his career at Grigeo AB as a procurement manager, T. Jozonis has held various management positions for the past eight years, and since 2019 served as the General Manager of the Company's paper business. Reported Earnings • Jun 21
First quarter 2022 earnings released: EPS: €0.016 (vs €0.025 in 1Q 2021) First quarter 2022 results: EPS: €0.016 (down from €0.025 in 1Q 2021). Revenue: €49.9m (up 42% from 1Q 2021). Net income: €2.15m (down 35% from 1Q 2021). Profit margin: 4.3% (down from 9.4% in 1Q 2021). The decrease in margin was driven by higher expenses. お知らせ • May 02
Grigeo AB Approves Dividend The Annual General Meeting of Shareholders of Grigeo AB was held on 29 April 2022. The rights accounting day of the shareholders of the General Meeting of Shareholders is 13 May 2022. The proprietary rights will be held by the persons who, at the close of the tenth working day after the General Meeting of Shareholders which adopted the appropriate decision, i.e. on 13 May 2022, will be the shareholders of the Company. Proceeding from the above, the ex-date is 12 May 2022. The Company will pay EUR 6,570,000 dividends (what makes EUR 0.05 per share) allocated by the decision of the General Meeting of Shareholders of 29 April 2022, starting from 23 May 2022. お知らせ • Apr 07
Grigeo AB Proposes Dividend for the Year 2021 Grigeo AB proposed to pay EUR 0.05 dividend per share for the year 2021. お知らせ • Feb 25
Grigeo AB Group‘s Producer of Corrugated Cardboard in Ukraine, Mena Pak AT Has Stopped the Production Operations Grigeo AB group‘s producer of corrugated cardboard in Ukraine, Mena Pak AT has stopped the production operations. Also, part of Group’s production is being sold to eastern countries, including Ukraine, Russia and Belarus. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: €0.022 (up from €0.017 in 3Q 2020). Revenue: €44.1m (up 38% from 3Q 2020). Net income: €2.85m (up 31% from 3Q 2020). Profit margin: 6.5% (down from 6.8% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS €0.03 (vs €0.009 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €38.6m (up 34% from 2Q 2020). Net income: €3.89m (up 217% from 2Q 2020). Profit margin: 10% (up from 4.2% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 30
First quarter 2021 earnings released: EPS €0.05 (vs €0.031 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: €35.1m (down 3.0% from 1Q 2020). Net income: €3.31m (down 18% from 1Q 2020). Profit margin: 9.4% (down from 11% in 1Q 2020). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improved over the past week After last week's 99% share price gain to €1.38, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 21x in the Forestry industry in Europe. Total returns to shareholders of 187% over the past year. お知らせ • Apr 30
Grigeo AB Approves Dividend, Payable from May 24, 2021 The Annual General Meeting of Shareholders of Grigeo AB was held on 30 April 2021. The Company will pay dividends allocated by the decision of the General Meeting of Shareholders of 30 April 2021, i.e. €7,884,000 for total volume of shares in the amount of 65,700,000 (what makes €0.12 per share) starting from 24 May 2021. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improved over the past week After last week's 49% share price gain to €1.64, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 20x in the Forestry industry in Europe. Total returns to shareholders of 56% over the past year. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €1.05, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 19x in the Forestry industry in Europe. Total returns to shareholders of 9.1% over the past year. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS €0.20 (vs €0.21 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: €129.9m (down 7.4% from FY 2019). Net income: €13.2m (down 2.0% from FY 2019). Profit margin: 10% (in line with FY 2019). Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improved over the past week After last week's 15% share price gain to €1.43, the stock is trading at a trailing P/E ratio of 8.4x, up from the previous P/E ratio of 7.3x. This compares to an average P/E of 19x in the Forestry industry in Europe. Total returns to shareholders over the past year are 31%. Is New 90 Day High Low • Feb 16
New 90-day high: €1.43 The company is up 18% from its price of €1.21 on 18 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 16% over the same period. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €1.19, the stock is trading at a trailing P/E ratio of 8x, down from the previous P/E ratio of 9.5x. This compares to an average P/E of 14x in the Forestry industry in Europe. Total returns to shareholders over the past year are 9.7%. Is New 90 Day High Low • Jan 15
New 90-day high: €1.39 The company is up 17% from its price of €1.18 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Forestry industry, which is also up 17% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: €1.24 The company is up 6.0% from its price of €1.17 on 29 September 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 12% over the same period. Reported Earnings • Nov 26
Third quarter 2020 earnings released: EPS €0.033 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €31.9m (down 9.9% from 3Q 2019). Net income: €2.17m (down 57% from 3Q 2019). Profit margin: 6.8% (down from 14% in 3Q 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Nov 11
New 90-day high: €1.21 The company is up 4.0% from its price of €1.16 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Forestry industry, which is up 13% over the same period. お知らせ • Nov 07
Grigeo AB, Annual General Meeting, Nov 30, 2020 Grigeo AB, Annual General Meeting, Nov 30, 2020, at 09:00 E. Europe Standard Time. Location: at Vilniaus g. 10, Vilniaus m. sav. Grigiskes Lithuania Agenda: To consider the election of the Company's audit company and determination of payment terms for audit services. 
