Arctic Paper swings to Q1 net profit of 8.9M Polish zloty from 6.1M zloty loss a year ago, with operations of Rottneros developing well and contributing to results; Q1 sales revenue dips 2.2%, to 804.5M zloty, partly due to paper machine closure

Debra Garcia

POZNAN, Poland , May 15, 2014 (press release) –

The Arctic Paper Group generated satisfactory financial results in the 1st quarter of 2014. EBITDA was PLN 48.8m (an increase of 49.5%, net profit amounted to PLN 8.9m (compared to a loss of PLN 6m a year earlier), while sales revenue decreased (due partly to closure of one paper machine last summer) by 2.2%, to PLN 804.5m.

The operations of Rottneros developed well during the first 3 months of 2014 and the company contributed to the Arctic Paper Group’s results with EBITDA of PLN 16.4m in 1Q 2014.

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In an omitted table, Arctic Paper Group reported first-quarter 2014 net profit of 8.908 million Polish zloty and sales revenue of 804.492 million zloty compared to first-quarter 2013 net loss of 6.080 million zloty and sales revenue of 822.339 million zloty.

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