Arctic Paper S.A., Q1 2020: Strong Q1 prepare the Group for tougher times
• Q1 consolidated sales revenue was PLN 813,9mn (EUR[1] 188,2mn).• EBITDA Q1 was PLN 111,8mn (EUR[1] 25,9mn).• EBIT Q1 was PLN 79,7mn (EUR[1] 18,4mn) and net profit PLN 62,3mn (EUR[1] 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 strong and