In the 1st half of 2016 the results of Arctic Paper Group confirmed that the chosen strategy continues to deliver. Consistent improvement of the results is proven by, not least, EBITDA being up by 14.9% (from PLN 116.9 million ($30.2 million) to PLN 134.4 million ($34.7 million), compared to the same period of 2015. For the same period revenues were 2.8% higher and amounted to PLN 1.5 billion ($387 million), as the company said in the press release received by Lesprom Network.
During 2Q 2016 Arctic Paper Group raised the EBITDA result of the paper business to PLN 29.4 million ($7.6 million), an improvement of PLN 29.2 million ($7.5 million) compared to 2Q 2015.
Acting CEO of Arctic Paper Group, Per Skoglund, comments: “Several factors have contributed to the stable result not least the successful activities of the Profit Improvement Program 2015/16. Among these, the hard focus on efficiency and a more flexible organisation are worth mentioning. The results and effects in the Swedish units, yielded by the programmes, are especially valuable."
Per Skoglund continued: “Despite the market environment being troublesome, the first phase of the current period has started in a satisfactory way. Still the unpleasant exchange levels of the USD in relation to European currencies remain a complication.”
Arctic Paper is one of the leading manufacturers of high-quality graphical fine paper in Europe.
