Arctic Paper S.A. Q3 2019: Stable result in a challenging market

• Q3 sales revenue amounted to PLN 794.4m (EUR1 184.6m).
• Q3 EBITDA was PLN 71.5m (EUR1 16.6m).
• Q3 EBIT was PLN 50.6m (EUR1 11.8m).
• New factoring agreement of PLN 30m and extension of revolving credit facility worth EUR 19.8m and PLN 20m concluded with interest rate and terms unchanged.
• High capacity utilization and profit improvements for the paper segment.
• NCRD grant of PLN 16.4m for co-financing an innovation project aimed at developing newtypes of paper at the Kostrzyn mill.

“Although the market conditions remain challenging, we are doing a good job and have gained market share in the paper segment.”
Michał Jarczyński, CEO (see CEO letter on page 2 in the press release)

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MONDAY, 18 NOV, 2019