The figures include the contribution of Rottneros (the majority of Rottneros was acquired by Arctic Paper Group in 2013), which posted very good financial results for the period.
The Arctic Paper Group, excluding Rottneros, generated sales revenues of about PLN 1,077 million ($286 million) in 1H 2015, which is 1.7% more than in 1H 2014. EBITDA was nearly PLN 26.2 million ($7 million), a decline of 59.5% compared to 1H 2014). The company had an operating loss of PLN 12.3 million ($3.3 million) and a net loss from continued operations of nearly PLN 2.5 million ($0.6 million).
Arctic Paper CEO Wolfgang Lübbert commented: “The results of the paper business for the first half of 2015 are far from being satisfactory. The challenges of 1Q continued and accelerated during 2Q 2015. In general, the high-quality graphical fine paper market is a long way from recovery. We have responded to the strong negative impact of the US dollar and the complex market situation by implementing the Profit Improvement Program 2015/2016, with the aim to lessen costs by about PLN 50 million annually. It includes decisive moves concerning Arctic Paper Mochenwangen - possible cease of production or sale of the mill.”
Arctic Paper S.A. is one of the leading manufacturers of high-quality graphical fine paper in Europe.
