AB "Grigeo" — Company Profile

AB "Grigeo" is a leading Lithuanian pulp and paper group engaged in tissue products, recycled paper and paperboard, corrugated packaging, and paper recycling in the Baltic region. The group is listed on Nasdaq Vilnius and operates a vertically integrated model from recovered paper collection and recycling to finished tissue and packaging products sold across the Baltics, Nordics, Poland, and other European markets.

Company Overview

Legal name: AB "Grigeo"
Former name: AB "Grigiškės" (rebranded to AB "Grigeo" in 2016)
Founded (origins): The company traces its industrial origins to the Grigiškės paper mill established in the 19th century; the modern joint-stock company was formed during Lithuania’s privatization in 1992.
Headquarters: Grigiškės (Vilnius), Lithuania
Industry sector: Pulp and paper; tissue (consumer and professional), paperboard from recycled fiber, corrugated packaging, paper recycling
Stock exchange: Nasdaq Vilnius (Baltic Main List)
Ticker: GRG1L

Legal Information

Įmonės kodas (company code): 110012963 (to be verified against official registry)
PVM mokėtojo kodas (VAT code): not clearly disclosed in the public sources used for this profile; verify via VMI/Registrų centras/Rekvizitai (see References).
Official website: https://www.grigeo.lt
General email: info@grigeo.lt (generic contact; confirm on the official website’s Contacts page)
Registered office address: The company indicates headquarters in Grigiškės (Vilnius). A commonly cited address for the Grigiškės industrial site is Vilniaus g. (Grigiškės), Vilnius, LT-27xxx, Lithuania; please verify the exact street number and postal code on the company’s official site or the business registry.
Phone number (registered office): not clearly stated in the public sources used; consult the company’s official Contacts page or the Lithuanian business registry for the latest switchboard number.

Note: For precise registered address, VAT code, and switchboard phone, please cross-check the company’s Contacts page and Lithuania’s Registrų centras/Rekvizitai listings cited below.

Business Operations

Main products and services:
- Tissue products (toilet tissue, kitchen towels, napkins, facial tissues) under Grite and Grite Professional brands for retail and HoReCa/professional markets.
- Paper and paperboard made from recycled fiber for industrial uses.
- Corrugated packaging solutions (sheets, boxes, custom packaging) through the group’s packaging unit.
- Paper recycling (collection, sorting, and preparation of recovered paper) supplying the group’s fiber needs and external customers.

Business model: Vertically integrated production that starts with recovered paper collection and recycling and extends through papermaking to converting tissue and manufacturing corrugated packaging. The group sells branded tissue to retailers and distributors and supplies packaging solutions to B2B customers across the Baltics and neighboring countries.

Market position: AB "Grigeo" is among the largest tissue producers in the Baltic states and a significant regional player in recycled paperboard and corrugated packaging. The group benefits from scale in the Baltics, strong local brands, and proximity to Northern European markets.

History

- 19th century: Origins of papermaking in the Grigiškės area near Vilnius, forming the historical foundation for the modern company.
- 1992: Incorporation as a joint-stock company during Lithuania’s privatization (as AB "Grigiškės").
- 2010–2015: Group development and integration of packaging and recycled paperboard operations (including Klaipėda-based paperboard operations, later known as AB "Grigeo Klaipėda").
- 2016: Corporate rebranding to AB "Grigeo" and unification of group identity across subsidiaries.
- 2019–2021: Continued modernization and capacity upgrades; expansion of tissue and packaging capabilities.
- 2020: Environmental incident at the Klaipėda subsidiary (wastewater discharge case) led to investigations, remedial actions, and commitments to upgrade environmental controls at the Klaipėda site.
- 2021–2024: Ongoing investments in production efficiency, energy and environmental performance, and waste-water treatment enhancements; continued development of tissue and packaging businesses; strengthening of corporate governance and compliance systems.
- 2023: The group marked approximately two centuries of papermaking heritage in Grigiškės and continued to scale branded tissue and packaging in the Baltics.

Financial Information

Listing and instruments: Shares of AB "Grigeo" are traded on Nasdaq Vilnius under ticker GRG1L. The group publishes audited annual reports and interim results that include consolidated financial statements and management commentary.

Revenue and performance: The group’s consolidated revenue in recent years has generally been in the low-to-mid hundreds of millions of euros annually, reflecting growth in tissue and packaging, with results influenced by energy/input price cycles and demand in the Baltics and neighboring markets. For exact annual revenue, EBITDA, and net profit figures (e.g., 2021–2024), refer to the company’s published annual and interim reports in the Investors section of the official website and Nasdaq Baltic disclosures (links in Sources).

Funding: AB "Grigeo" is a publicly listed company and funds operations primarily through operating cash flow, bank financing, and capital markets, rather than venture-style funding rounds.

Ownership structure: The principal shareholder historically referenced is UAB "Ginvildos investicija" (an entity associated with the long-standing leader of the company). The remainder comprises institutional and retail shareholders (free float) on Nasdaq Vilnius. For up-to-date shareholder structure, see the Investors/Shareholders section or Nasdaq Baltic.

Leadership and Management

Key executives (vadovai):
- Gintautas Pangonis — Chairman of the Board; long-serving senior leader of the group.
- Other executive positions (General Manager/CEO, CFO, Heads of Tissue/Packaging/Recycling) are disclosed in the latest Governance/Annual Reports. Specific names and titles can change; please consult the most recent Corporate Governance Report and Investors section for current appointments.

Board of Directors (Valdyba): AB "Grigeo" maintains a board consistent with Lithuanian corporate governance practices for listed companies. The Chairman is Gintautas Pangonis. The full and current list of board members (including independent directors, term dates, and committee assignments) is available in the company’s latest annual report and Nasdaq Baltic issuer profile.

Note: As executive and board compositions may change, verify current names, roles, and contact details in the latest official filings and the company’s website.

Office Locations

Registered office and main production site (tissue and paper): Grigiškės, Vilnius, Lithuania. A commonly cited location is Vilniaus g., Grigiškės (exact street number/post code should be verified on the official Contacts page). Phone: not clearly posted in the sources consulted for this profile.

Paperboard/Klaipėda operations: AB "Grigeo Klaipėda", industrial site near Klaipėda (Dumpiai/Nemuno g. industrial area). Precise address and switchboard phone should be confirmed on the subsidiary’s page or the group’s official site.

Corrugated packaging: Grigiškės (Vilnius) manufacturing site. Exact address and phone should be verified on the group’s Contacts/Packaging pages.

Recycling operations: Paper collection and recycling units operate in Lithuania (and with affiliated entities in Latvia). Addresses and phones are provided on respective local pages; verify via the official website or Rekvizitai links.

Note: The group operates multiple production and logistics locations. For compliance and business correspondence, always use the registered legal address and published phone/fax lines from the official Contacts page and the Lithuanian business registry.

Market Position and Competitors

Geographic focus: Baltics (Lithuania, Latvia, Estonia), Nordics, Poland, and broader European markets.

Key competitors:
- Tissue: Metsä Tissue (brands such as Lambi, Serla), Essity (Tork, Zewa), and regional private-label producers.
- Corrugated packaging: DS Smith, Smurfit Kappa, Mondi, and regional Baltic/Nordic corrugated manufacturers.
- Recycled paperboard: Regional European mills producing containerboard and recycled grades (e.g., Stora Enso, Smurfit Kappa, others depending on grade and segment).

Competitive advantages: Vertical integration (recycling to finished goods), strong local Baltic brands (Grite), proximity to customers in the Baltics and Nordics, experience with recycled fiber, and ongoing investments in production efficiency and environmental performance.

Recent Developments

- The group has reported ongoing capital expenditures to modernize paper, tissue, and packaging lines and to improve energy efficiency and environmental controls, including wastewater treatment upgrades, particularly following the Klaipėda incident investigations and remediation commitments.
- Continued brand development of Grite and expansion in professional hygiene segments (Grite Professional).
- Regular publication of interim and annual results on Nasdaq Vilnius and the company website; dividend policy and distributions are disclosed in annual general meeting materials.
- Legal and environmental proceedings concerning historical wastewater discharge at Klaipėda progressed through investigations, settlements, and remediation planning between 2020 and 2024; see official statements and Lithuanian media/regulatory releases for latest outcomes.

Contact Information

Official website: https://www.grigeo.lt
General email: info@grigeo.lt
Investors (typical contact channel): See Investors section on the website; a dedicated investor relations email/phone is typically provided in annual reports and on the website.
Registered office: Grigiškės (Vilnius), Lithuania — verify exact street address and postal code on the official site.
Phone: Not clearly published in the sources used for this profile; refer to the Contacts page on the official website or Lithuanian business registry entries for the latest switchboard and department phone numbers.

Sources and References

- AB "Grigeo" official website (About, Products, Contacts, Investors): https://www.grigeo.lt
- AB "Grigeo" Investors page (annual and interim reports, governance, shareholders): https://www.grigeo.lt/en/investors
- Nasdaq Baltic — Issuer/Instrument page for AB "Grigeo" (GRG1L): https://nasdaqbaltic.com/statistics/en/instrument/GRG1L and https://nasdaqbaltic.com/statistics/en/issuer/GRG
- Rekvizitai.lt (Lithuanian business directory) — AB "Grigeo" profile (legal codes, addresses, contacts): https://rekvizitai.vz.lt/imone/grigeo_ab/ and https://rekvizitai.vz.lt/en/company/grigeo_ab/
- Lithuanian media/regulatory coverage of Klaipėda wastewater case and environmental actions (for background and developments):
-- Lithuanian National Radio and Television (LRT): https://www.lrt.lt/
-- Verslo žinios (VZ): https://www.vz.lt/
-- Prosecutor General’s Office of the Republic of Lithuania: https://www.prokuraturos.lt/

Important: For the most accurate and current data (especially the VAT code, full registered address, phone numbers, and the up-to-date list of executives/board members), consult the latest AB "Grigeo" annual report and the official Contacts page, as well as the Lithuanian Registrų centras and Nasdaq Baltic issuer disclosures.