Arctic Paper S.A. Capital Group Consolidated report for 1Q 2016

The Management Board of Arctic Paper S.A. (hereinafter “Company”) herewith publishes the Arctic Paper SA Capital Group consolidated quarterly report for the first quarter of 2016.

Selected consolidated financial data

For the period
from 01.01.2016
to 31.03.2016		 For the period
from 01.01.2015
to 31.03.2015		 For the period
from 01.01.2016
to 31.03.2016		 For the period
from 01.01.2015
to 31.03.2015
thousand PLN thousand PLN thousand EUR thousand EUR
Revenues 778 560 771 103 178 372 183 907
Operating profit (loss) 41 377 50 959 9 480 12 154
Profit (loss) before tax 33 675 37 630 7 715 8 975
Profit (loss) from continuing operations 24 707 26 690 5 661 6 365
Profit (loss) for the period 19 628 12 846 4 497 3 064
Profit (loss) for the period attributable to equity holders of the parent 8 346 (3 652) 1 912 (871)
Net operating cash flow 245 37 978 56 9 058
Net investment cash flow (25 848) (12 838) (5 922) (3 062)
Net financial cash flow 5 485 (19 095) 1 257 (4 554)
Net change in cash and cash equivalents (20 118) 6 045 (4 609) 1 442
Weighted average number of shares 69 287 783 69 287 783 69 287 783 69 287 783
Weighted average diluted number of shares 69 287 783 69 287 783 69 287 783 69 287 783
EPS (in PLN/EUR) 0,12 (0,05) 0,03 (0,01)
Diluted EPS (in PLN/EUR) 0,12 (0,05) 0,03 (0,01)
Average PLN/EUR rate* 4,3648 4,1929
As at
31 March 2016		 As at
31 December 2015		 As at
31 March 2016		 As at
31 December 2015
thousand PLN thousand PLN thousand EUR thousand EUR
Assets 1 793 672 1 813 235 420 221 425 492
Long-term liabilities 369 038 372 599 86 458 87 434
Short-term liabilities 674 008 682 515 157 907 160 159
Liabilities directly associated with discontinued operations 56 960 81 264 13 345 19 069
Equity 693 665 676 856 162 512 158 830
Share capital 69 288 69 288 16 233 16 259
Number of shares 69 287 783 69 287 783 69 287 783 69 287 783
Diluted number of shares 69 287 783 69 287 783 69 287 783 69 287 783
Book value per share (in PLN/EUR) 10,01 9,77 2,35 2,29
Diluted book value per share (in PLN/EUR) 10,01 9,77 2,35 2,29
Declared or paid dividend (in PLN/EUR) - - - -
Declared or paid dividend per share (in PLN/EUR) - - - -
PLN/EUR rate at the end of the period** - - 4,2684 4,2615
* Items of the income and cash flow statement are converted at the exchange rate which is the arithmetic mean of average rates announced by the NBP in the given reporting period.
** Items of balance sheet and book value per share were converted at the average exchange rate announced by the NBP and prevailing at the balance sheet date.

Selected standalone financial data

For the period
from 01.01.2016
to 31.03.2016		 For the period
from 01.01.2015
to 31.03.2015		 For the period
from 01.01.2016
to 31.03.2016		 For the period
from 01.01.2015
to 31.03.2015
tys. PLN tys. PLN tys. EUR tys. EUR
Revenues 10 140 10 659 2 323 2 542
Operating profit (loss) (9 625) (8 952) (2 205) (2 135)
Profit (loss) before tax (11 054) (9 153) (2 532) (2 183)
Profit (loss) from continuing operations (11 054) (9 153) (2 532) (2 183)
Profit (loss) for the period (11 054) (9 153) (2 532) (2 183)
Net operating cash flow (5 122) (5 801) (1 173) (1 383)
Net investment cash flow (66) (172) (15) (41)
Net financial cash flow (351) (410) (80) (98)
Net change in cash and cash equivalents (5 538) (6 383) (1 269) (1 522)
Weighted average number of shares 69 287 783 69 287 783 69 287 783 69 287 783
Weighted average diluted number of shares 69 287 783 69 287 783 69 287 783 69 287 783
EPS (in PLN/EUR) (0,16) (0,13) (0,04) (0,03)
Diluted EPS (in PLN/EUR) (0,16) (0,13) (0,04) (0,03)
Average PLN/EUR rate* 4,3648 4,1929
As at 31
March 2016		 As at
31 December 2015		 As at 31
March 2016		 As at
31 December 2015
tys. PLN tys. PLN tys. EUR tys. EUR
Assets 952 354 950 202 223 117 222 974
Long-term liabilities 205 159 205 001 48 065 48 105
Short-term liabilities 89 244 76 242 20 908 17 891
Equity 657 953 668 959 154 145 156 977
Share capital 69 288 69 288 16 233 16 259
Number of shares 69 287 783 69 287 783 69 287 783 69 287 783
Diluted number of shares 69 287 783 69 287 783 69 287 783 69 287 783
Book value per share (in PLN/EUR) 9,50 9,65 2,22 2,27
Diluted book value per share (in PLN/EUR) 9,50 9,65 2,22 2,27
Declared or paid dividend (in PLN/EUR) - - - -
Declared or paid dividend per share (in PLN/EUR) - - - -
PLN/EUR rate at the end of the period** - - 4,2684 4,2615
* Profit and loss items have been converted as a matter of arithmetic computation using the official mid-rates announced by the National Bank of Poland prevailing on the last day of each month.
** Balance sheet items and book value per share have been converted using the official mid-rates announced by the National Bank of Poland prevailing on the balance sheet date.

For additional information, please contact:

Per Skoglund, acting President of the Management Board of Arctic Paper, tel. +46 733 21 70 09

This information is disclosed pursuant to o the § 82 section 2 and § 83 section 3 of the Minister of Finance Regulation of 19 February 2009 on current and periodic information provided by the securities issuers and conditions on which information required under law applicable in a state not being a member state may be recognized as equivalent, and was submitted for publication on 16th May 2016 at 8:00 am CET, in reference to Arctic Paper’s Capital Group consolidated report for first quarter 2016 filed with the Warsaw Stock Exchange.


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APSA 1Q2016 Quarterly report