Information on the impact of difficult political situation

Grigeo AB group‘s (the "Group") 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.

The presented interim consolidated financial statements for the 12 months of 2021 include:

  • The sales to these countries were equal to 10.6% of total sales of the Group.
  • Mena Pak AT sales in 2021 were equal to 5.0% of total sales of the Group.
  • Cost of investment into Mena Pak AT is equal to EUR 3.7 million.
  • Total assets of Mena Pak AT are equal to EUR 3,1 million, net profit for 2021 – EUR 0,6 million.

Currently the management of the Group is estimating potential financial impact over future periods. However, due to significant uncertainties, as well as foreseen energy price increases, it is impossible to estimate the financial impact reliably. The Group is selling production in over 20 countries, therefore, if needed, lost sales will be redirected to other markets.

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