Arctic Paper S.A. Q1 2020: Strong Q1 prepare the Group for tougher times
- Q1 consolidated sales revenue was PLN 813,9mn (EUR1 188,2mn).
- EBITDA Q1 was PLN 111,8mn (EUR1 25,9mn).
- EBIT Q1 was PLN 79,7mn (EUR1 18,4mn) and net profit PLN 62,3mn (EUR1 14,4mn).
- A combination of strong paper and stable pulp boosted Q1 results.
- At the end of the period there is a decline in demand due to Covid-19.
- Measures taken to mitigate negative effects: short -term allowance for Grycksbo and Munkedal.
- The board has decided not to recommend dividend for 2019.
“After a solid fourth quarter 2019 and a robust beginning of this year, the Group stands strongand is better equipped to meet the significant increase in uncertainty.”
Michał Jarczyński, CEO (see letter from the CEO on page 2 in the press release)
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Thursday, 14 May, 2020