Arctic Paper S.A., Q1 2023: Continued good results despite lower demand

Q1 consolidated sales revenue was PLN 1 032,2mn (EUR¹219,1mn).
EBITDA Q1 was PLN 185,5mn (EUR¹ 39,4mn).
EBIT Q1 was PLN 155,6mn (EUR¹ 33,0mn) and net profit PLN 131,7mn (EUR¹ 27,9mn).
Continued focus on margins over volumes to maintain profitability despite weaker demand.
Strong balance sheet with a net debt/EBITDA ratio of -0.27x (0.33x).
The establishment of a moulded tray factory in Kostrzyn is proceeding according to plan.

“The market outlook is more uncertain than in the end of 2022 and we expect a more challenging year.”

Michał Jarczyński, CEO (see letter from the CEO on page 2)

09 May, 2023