1Q operating profit was over PLN 37.6 million ($10 million), up 94.6% in comparison to 1Q 2014, and net profit was PLN 12.8 million ($3.4 million) (growth by 44.2%, as compared to 1Q 2014).
Sales revenues in 1Q 2015 reached PLN 836.2 million ($223.4 million) compared to PLN 804.5 million ($215million) in 1Q 2014 (up 3.9% in comparison to 1Q 2014).
The operations of Rottneros, which achieved excellent results, had a positive impact on the financial results of the Group in the 1Q 2015.
Arctic Paper CEO Wolfgang Lübbert commented: “The market complexity and turbulence is increasing, not least due to a strong US dollar during the quarter. We are fully aware that there will be more challenges in the market and therefore we are constantly implementing measures to protect and enhance our positive gains since 2013. Our involvement with PaperlinX UK and the need to create a provision for receivables influenced the 1Q financial results, affecting our focused work on achieving stable finances.”
In 1Q 2015 Arctic Paper Group increased the volume of paper sold by 2.6% in comparison to the same period of the prior year. This resulted in strengthening of the Group’s market position, as the deliveries of high-quality paper on the European market in 1Q 2015 were lower than in 1Q 2014. In the segment of uncoated wood-free paper deliveries were down 4.3% and in the coated wood-free segment were down 4.1% (all market data based on EuroGraph). The use of the production capacity of the Arctic Paper Group during the period was 95%.
Arctic Paper CEO Wolfgang Lübbert summarized: “The 1Q was already influenced to some extent by the troublesome external market conditions. During the period we increased our work on further improving our effectiveness and market alertness. The vigilance and determination we have shown over the last year and a half will need to continue and to be further increased.”
Arctic Paper S.A. produces coated and uncoated wood-free paper and uncoated wood-containing paper for demanding clients such as printers, publishers, newspaper publishers, advertising agencies, paper distributors and packaging producers.
