In the 3Q 2017 the Arctic Paper Group generated sales revenue of nearly PLN 736 million ($207 million). EBITDA was PLN 70.8 million ($20 million) and operating profit PLN 38.5 million ($10.8 million). Net profit on continuing operations in 3Q 2017 was PLN 25.6 million ($7.2 million), as the Group said in the press release received by Lesprom Network.
The weaker results of Arctic Paper in the 3Q were due primarily to the effect of a further increase in pulp prices which has not been fully offset yet by higher paper prices. The result was also affected by the planned stoppage at the Arctic Paper Kostrzyn plant for 12 days in July of this year, connected with an investment to increase the production efficiency at that plant.
Per Skoglund, CEO of Arctic Paper, commented: “The decline in profit is mainly due to continued high pulp prices, which we will not be able to fully compensate for by price increases during 2017. On top of that, a planned investment stoppage in Arctic Paper Kostrzyn affected sales and profit during the period. The investment in increased production efficiency will have a future positive impact and strengthen our ability to serve our customers in a competitive way.”
Through the first three quarters of 2017, the Arctic Paper Group generated sales revenue of over PLN 2.2 billion ($619 million). EBITDA was PLN 211 million ($59.4 million) and operating profit nearly PLN 116 million ($32.6 million). The Group’s net profit on continuing operations in the first three quarters of 2017 rose 9.2%, to PLN 75.5 million ($21.2 million).
Arctic Paper S.A. is one of the leading manufacturers of high-quality graphical fine paper in Europe.
