Arctic Paper S.A. achieved excellent financial results through four quarters of 2009. The Group earned sales revenues of nearly PLN 1.8 billion, up more than 42% from the previous year. Operating profit rose by more than 170% compared to the four quarters of 2008, to PLN 179.3 million. Net profit was nearly PLN 132.4 million, up more than 163% from 2008. The operating margin increased to 9.9%, from 5.2% in 2008, and the net margin increased to 7.3%, from nearly 4% in the four quarters of 2008.
Through four quarters of 2009, net sales revenue grew by over 42% to nearly PLN 1,809.1 million, from PLN 1,269.6 million in 2008.
One of the reasons for dynamic sales growth was consolidation of the results of the paper mill in Mochenwangen, Germany, acquired in December 2008, whose revenues were not reflected in the results for the first three quarters of 2008. Growth was also due to good sales results for specific paper mills and favourable changes in exchange rates, particularly EUR/PLN and EUR/SEK.
During the period profit on sales rose by over 80%, to PLN 468.5 million, from nearly PLN 253.1 million 2008. The margin on sales rose in 2009 to 25.9%, from 19.9% the year before.
Operating profit increased from PLN 66.2 million through four quarters of 2008 to PLN 179.3 million 2009. The profit margin on operations rose in 2009 to 9.9%, from 5.2% in 2008.
In 2009 the Company earned a high net profit, which rose by 163%, to PLN 132.4 million, from PLN 50.3 million in 2008. The net profit margin rose during the same period to 7.3%, from about 4%.
Sales volume grew significantly in 2009, at 573,000 metric tonnes, compared to 455,000 tonnes in 2008—an increase of 118,000 tonnes or 25.8%. LFL sales volume* increased in the four quarters to 463,000 tonnes, an increase of over 15,000 tonnes, or 3.4%, over 2008 sales.
