Arctic Paper S.A., Q2/H1 2020: Strengthened position on a Corona-affected market
- Q2 consolidated sales revenue was PLN 616.0mn (EUR1 139.5mn).
- EBITDA in Q2 was PLN 48.0mn (EUR1 10.9mn).
- EBIT in Q2 was PLN 24.2mn (EUR1 5.5mn) and net profit PLN 10.8mn (EUR1 2.4mn).
- EBIT in H1 was PLN 103.9mn (EUR1 23.5mn) and net profit PLN 73.1mn (EUR1 16.55mn).
- The combination of pulp and paper makes the Group more resilient in challenging times.
- The Group maintained a strong liquidity position. Net debt/EBITDA reached 0.83 (as compared to 1.06 for Q2 2019).
- While total sales were negatively impacted by the pandemic, the paper segment managed relatively better, with a decline of 25 percent, than the graphic paper market in general .
- The Munkedal Mill pioneer as Cradle to Cradle Certified™; gearing up for the circular economy.
“Thanks to extensive efforts, the impact on earnings has been limited, even though we have not been able to fully offset the decline.”
Michal Jarczyński, CEO (see letter from the CEO on page 2)
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Wednesday, 19 Aug, 2020