The 1Q results of Arctic Paper Group continue to show stability as well as significant improvement of results in paper segment - EBITDA in this segment was up 18.2% compared to 1Q 2015, and operating profit increased by 58% year-on year.

Schreibpapier

Arctic Paper 1Q EBITDA down 9.4% from year ago to PLN 70.7 million ($17.9 million)

The 1Q results of Arctic Paper Group continue to show stability as well as significant improvement of results in paper segment - EBITDA in this segment was up 18.2% compared to 1Q 2015, and operating profit increased by 58% year-on year, as the company said in the press release received by Lesprom Network.

The Group's sales revenue for the period 1Q 2016 was PLN 778.6 million ($197 million), that is 1% higher year on-year.

EBITDA was PLN 70.7 million ($17.9 million), or 9.4% less compared to 1Q 2015, operating profit was PLN 41.4 million ($10.5 million), or down 18.8%, and net profit from continued operations came to PLN 24.7 million ($6.3 million), down 7.4%.

The Group’s results have for a long period of time been stable and are aided by the pulp and paper markets compensating each other’s volatility.

Wolfgang Lübbert member of the Management Board commented: “The financial results in paper segment that we achieved in 1Q 2016 are very satisfying. The cessation of production at the Mochenwangen plant has had a strong positive financial result. The effect of the Profit Improvement Program on the revenue side is running smoothly and we have benefited from increased paper prices, especially for high quality Arctic Paper products. Together the actions have sustained the financial stability we are striving for.”

Arctic Paper S.A. is one of the leading manufacturers of high-quality graphical fine paper in Europe. The company produces coated and uncoated wood-free paper for demanding clients such as printers, publishers, newspaper publishers, advertising agencies, paper distributors and packaging producers.