Arctic Paper's 3Q revenues rose by 4% to PLN 760 million ($180.4 million)

30 November, 19:44
The financial results of the Arctic Paper Group in 3Q 2016 were decisively better than those generated in the same period of the prior year, as the company said in the press release received by Lesprom Network.

Revenues rose by 4% to nearly PLN 760 million ($180.4 million), EBITDA by 9.1% to PLN 76.9 million ($18.2 million), and net profit on continuing operations by 43.1% to PLN 32.5 million ($7.7 million).

Per Skoglund, acting CEO of Arctic Paper S.A., commented on the recently completed quarter: “It is with satisfaction I view the financial results achieved in the 3Q 2016. Achievement of such good results was influenced by a number of factors, among others the successful collaboration with our customers, resulting in strong sales despite difficult market conditions. At the same time, continuation of the measures pursued in the Profit Improvement Program 2015/2016 translated into growth in efficiency in the paper segment. Another factor was the decline in the cost of short-fibre pulp, the most important raw material used in our manufacturing.”

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.



Topics: Finance

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