- Q4 sales revenue amounted to PLN 825,9mn (EUR1 181,8mn).
- EBITDA Q4 was PLN 96,3mn (EUR1 21,2mn) and the EBITDA margin 11,7 percent.
- FY 2023 sales revenue amounted to PLN 3 549,2mn (EUR1 781,1mn).
- EBITDA FY 2023 was PLN 475,3mn (EUR1 104,6mn) and the EBITDA margin 13,4 percent.
- Economic uncertainty still affected the market but early signs of recovery.
- Financing agreement signed for biomass plant and wood pellets production in Grycksbo.
- Management Board will recommend a dividend of PLN 1.0 per share (2.70).
*The entire audited report FY2023 will be published on
1
"
Michal Jarczyński, CEO
Preliminary selected financial results: Arctic Paper Group & Arctic Paper (paper segment)
PLN (million) | Q4, 2023 | Q4, 2022 | Changes | FY 2023 | FY 2022 |
Sales revenue, | 825,9 | 1 085,1 | -259,2 | 3 549,2 | 4 894,3 |
Sales revenue | 581,2 | 770,0 | -188,8 | 2 460,4 | 3 580,0 |
EBITDA, | 96,3 | 140,0 | -43,7 | 475,3 | 974,0 |
EBITDA | 119,8 | 122,3 | -2,5 | 375,8 | 685,2 |
EBIT, | 67,1 | 109,3 | -42,2 | 357,1 | 843,0 |
EBIT | 97,3 | 101,8 | -4,5 | 292,3 | 605,2 |
Net profit, | 35,6 | 74,8 | -39,2 | 272,4 | 756,8 |
Net profit, | 60,8 | 70,3 | -9,5 | 264,3 | 519,6 |
Net profit per share2 (PLN/share) | 0,69 | 1,05 | -0,36 | 3,57 | 9,11 |
Net debt | -347,5 | -276,2 | -71,3 | -347,5 | -276,2 |
2 Net profit per share: net profit for the paper segment plus 51% of the net profit for
The year 2023 ended as it begun, with a mixed picture due to the uncertainty affecting the general economy. For the fourth quarter,
For the full year, the Group's consolidated sales reached PLN 3,549.2 million (4,894.3 million) with an EBITDA of PLN 475.3 million (974.0 million) and an EBITDA margin of 13.4 percent (19.9). This makes 2023 the second-best year in the Group's history. Given
Although the paper segment's sales decreased to PLN 581.2 million (770.0 million) compared to the exceptional period last year, EBITDA remained stable at PLN 119.8 million (122.3 million) and the EBITDA margin increased to 20.6 percent (15.9). The positive development is a result of our continued focus on efficiency and cost optimizing. The fourth quarter is normally weaker, but this year we saw positive signals of a change in demand on the paper market.
For
For the packaging segment, the investment in a new production unit for molded fiber trays in Kostrzyn is delayed due to longer delivery times for the equipment. We expect production to begin in Q3, 2024.
During the period, a financing agreement was reached regarding the investments in upgrading the biomass plant and in supplementary production of wood pellets at the mill in Grycksbo. The 17 MWh solar project in Kostrzyn will be completed in the second quarter of 2024, and we are working to expand our portfolio of renewable energy projects to achieve self-sufficiency. We will continue to grow in the energy segment.
We have entered a new year, but the uncertainty that affected our operations in 2023 remains. However, the Group is stronger than ever, and
Michal Jarczyński, CEO of
This disclosure contains information that
Further information provided by:
Phone +46 10 451 7005
michal.jarczynski@arcticpaper.com
+48 61 626 2004
katarzyna.wojtkowiak@arcticpaper.com
Arctic Paper Group is a European company and a leading producer of high-quality graphical fine paper, bio-based packaging solutions, high-quality wood pulp, and energy, increasingly of non-fossil origin. The company is present with its own sales offices in
For more information visit, arcticpapergroup.com
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