The Management Board of Arctic Paper S.A. (hereinafter “Company”) herewith published the Arctic Paper SA Capital Group half-year report for the 6 month period ended in the 30th June 2015 together with Independent Auditors’ Review Report on the Interim Condensed Consolidated Financial Statements for the 6 month period ended 30 June 2015 and Independent Auditors’ Review Report on the Interim Condensed Financial Statements for the 6 month period ended 30 June 2015. Selected consolidated financial data For the For the For the For the period period period period from from from from 01.01.2015 01.01.2014 01.01.2015 01.01.2014 to to to to 30.06.2015 30.06.2014 30.06.2015 30.06.2014 thousand thousand thousand thousand PLN PLN EUR EUR Continuing operations Revenues 1 459 352 1 436 062 352 422 343 843 Operating 62 825 46 257 15 172 11 075 profit (loss) Profit 50 502 31 310 12 196 7 497 (loss) before tax Profit 51 890 24 178 12 531 5 789 (loss) from continuing operations Discontinued operations Profit (25 946) (1 795) (6 266) (430) (loss) from discontinued operations Profit 25 944 22 383 6 265 5 359 (loss) for the period Profit (7 181) 14 097 (1 734) 3 375 (loss) attributable to equity holders of the parent Net 55 890 61 321 13 497 14 682 operating cash flow Net (23 349) (32 717) (5 639) (7 834) investing cash flow Net (6 113) (50 764) (1 476) (12 155) financing cash flow Net change 26 428 (22 160) 6 382 (5 306) in cash and cash equivalents Weighted 69 287 783 69 287 783 69 287 783 69 287 783 average number of shares Weighted 69 287 783 69 287 783 69 287 783 69 287 783 average diluted number of shares EPS (in (0,10) 0,20 (0,03) 0,05 PLN/EUR) Diluted EPS (0,10) 0,20 (0,03) 0,05 (in PLN/EUR) Average 4,1409 4,1765 PLN/EUR rate* As at As at As at As at 30 June 31 30 June 31 2015 December 2015 December 2014 2014 thousand thousand thousand thousand PLN PLN EUR EUR Assets 1 832 862 1 762 790 436 978 413 577 Long-term 395 285 447 152 94 241 104 909 liabilities Short-term 649 411 590 567 154 828 138 556 liabilities Liabilities 50 788 - 12 109 - directly associated with discontinued operations Equity 737 378 725 071 175 801 170 113 Share 69 288 69 288 16 519 16 256 capital Number of 69 287 783 69 287 783 69 287 783 69 287 783 shares Diluted 69 287 783 69 287 783 69 287 783 69 287 783 number of shares Book value 10,64 10,46 2,54 2,46 per share (in PLN/EUR) Diluted book 10,64 10,46 2,54 2,46 value per share (in PLN/EUR) Declared or - - - - paid dividend (in PLN/EUR) Declared or - - - - paid dividend per share (in PLN/EUR) PLN/EUR rate - - 4,1944 4,2623 at the end of the period** Selected standalone financial data For the For the For the For the period period period period from from from from 01.01.2015 01.01.2014 01.01.2015 01.01.2014 to to to to 30.06.2015 30.06.2014 30.06.2015 30.06.2014 PLN PLN EUR EUR thousand thousand thousand thousand Sales revenues 70 133 20 162 16 937 4 828 Operating 24 437 (2 657) 5 901 (636) profit (loss) Profit (loss) 23 112 (3 590) 5 581 (860) before tax Profit (loss) 23 112 (3 590) 5 581 (860) from continuing operations Profit (loss) 23 112 (3 590) 5 581 (860) for the period Net operating (12 781) 144 (3 086) 34 cash flow Net investing 19 980 - 4 825 - cash flow Net financing (703) (705) (170) (169) cash flow Net change in 6 496 (561) 1 569 (134) cash and cash equivalents Weighted 69 287 783 69 287 783 69 287 783 69 287 783 average number of shares Weighted 69 287 783 69 287 783 69 287 783 69 287 783 average diluted number of shares EPS (in 0,33 (0,05) 0,08 (0,01) PLN/EUR) Diluted EPS 0,33 (0,05) 0,08 (0,01) (in PLN/EUR) Average 4,1409 4,1765 PLN/EUR rate* As at 30 As at As at 30 As at June 2015 31 June 2015 31 December December 2014 2014 PLN PLN EUR EUR thousand thousand thousand thousand Assets 964 126 936 635 229 860 225 104 Long-term 196 221 227 109 46 782 54 582 liabilities Short-term 79 945 44 632 19 060 10 727 liabilities Equity 687 960 664 893 164 019 159 795 Share capital 69 288 69 288 16 519 16 652 Number of 69 287 783 69 287 783 69 287 783 69 287 783 shares Diluted number 69 287 783 69 287 783 69 287 783 69 287 783 of shares Book value per 9,93 9,60 2,37 2,31 share (in PLN/EUR) Diluted book 9,93 9,60 2,37 2,31 value per share (in PLN/EUR) Declared or - - - - paid dividend (in PLN/EUR) Declared or - - - - paid dividend per share (in PLN/EUR) PLN/EUR rate - - 4,1944 4,1609 at the end of the period** * 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. Independent Auditors’ Review Report on the Interim Condensed Consolidated Financial Statements for the 6 month period ended 30 June 2015 To the General Shareholders Meeting and Supervisory Board of Arctic Paper S.A. 1. We have reviewed the accompanying interim condensed consolidated financial statements of Arctic Paper S.A. Capital Group (‘the Group’) where Arctic Paper S.A. is the dominant entity (‘the Company’), and is located at at Jana Henryka Dąbrowskiego 334A in Poznań, including the interim condensed consolidated balance sheet as at 30 June 2015, the interim condensed consolidated income statement, the interim condensed consolidated statement of comprehensive income, the interim condensed consolidated statement of changes in equity, the interim condensed consolidated cash flow statement for the period from 1 January 2015 to 30 June 2015 and other explanatory notes (‘the interim condensed consolidated financial statements’). 2. The Company’s Management Board is responsible for the compliance of the interim condensed consolidated financial statements’ with International Financial Reporting Standard IAS 34 “Interim financial reporting” as adopted by the European Union (‘IAS 34’). Our responsibility was to issue a report on these consolidated financial statements based, on our review. 3. We conducted our review in accordance with the provisions of the law binding in Poland and National Auditing Standards issued by the National Council of Statutory Auditors in Poland. These standards require that we plan and perform our review to obtain moderate assurance as to whether the consolidated financial statements are free of material misstatement. The review was mainly based on applying analytical procedures to the financial data, inspection of accounting records and discussions with the management of the Company as well as its employees. The scope[1] (http://#_ftn1) of a review differs significantly from an audit of financial statements, the objective of which is to express an opinion on whether financial statements comply with the required applicable accounting policies, and on the truth and fairness[2] (http://#_ftn2) of these financial statements. Consequently, the review does not enable us to obtain sufficient assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements are not in accordance, in all material respects, with IAS 34. on behalf of Ernst & Young Audyt Polska spółka z ograniczoną odpowiedzialnością sp. k. Rondo ONZ 1, 00-124 Warsaw Reg. No 130 Key Certified Auditor Robert Klimacki certified auditor No. 90055Warsaw, 28 August 2015 [1] (http://#_ftnref1) Translation of the following expression in Polish language: “zakres i metoda” [2] (http://#_ftnref2) Translation of the following expression in Polish language: “rzetelności i jasności” Independent Auditors’ Review Report on the Interim Condensed Financial Statements for the 6 month period ended 30 June 2015 To the General Shareholders Meeting and Supervisory Board of Arctic Paper S.A. 1. We have reviewed the accompanying interim condensed financial statements of Arctic Paper S.A. (‘the Company’) located at Jana Henryka Dąbrowskiego 334A in Poznań, including the interim condensed balance sheet as at 30 June 2015, the interim condensed income statement, the interim condensed statement of comprehensive income, the interim condensed statement of changes in equity, the interim condensed cash flow statement for the period from 1 January 2015 to 30 June 2015 and other explanatory notes (‘the interim condensed financial statements’). 2. The Company’s Management Board is responsible for the compliance of the accompanying interim condensed financial statements with International Financial Reporting Standard IAS 34 “Interim financial reporting” as adopted by the European Union (‘IAS 34’). Our responsibility was to issue a report on these financial statements, based on our review. 3. We conducted our review in accordance with the provisions of the law binding in Poland and National Auditing Standards issued by the National Council of Statutory Auditors in Poland. These standards require that we plan and perform our review to obtain moderate assurance as to whether the financial statements are free of material misstatement. The review was mainly based on applying analytical procedures to the financial data, inspection of accounting records and discussions with the management of the Company as well as its employees. The scope[1] (http://#_ftn1) of a review differs significantly from an audit of financial statements, the objective of which is to express an opinion on whether financial statements comply with the required applicable accounting policies, and on the truth and fairness[2] (http://#_ftn2) of these financial statements. Consequently, the review does not enable us to obtain sufficient assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial statements are not in accordance, in all material respects, with IAS 34. on behalf of Ernst & Young Audyt Polska spółka z ograniczoną odpowiedzialnością sp. k. Rondo ONZ 1, 00-124 Warsaw Reg. No 130 Key Certified Auditor Robert Klimacki certified auditor No. 90055 Warsaw, 28 August 2015 ---------------------------------------------------------------------- [1] (http://#_ftnref1) Translation of the following expression in Polish language: “zakres i metoda” [2] (http://#_ftnref2) Translation of the following expression in Polish language: “rzetelności i jasności” For additional information, please contact: Wolfgang Lübbert, President of the Management Board of Arctic Paper, tel. 49 405 148 5310 This information is disclosed pursuant to 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 28th August 2015 at 8:00 am CET, in reference to Arctic Paper’s Capital Group consolidated report for 1H2015 filed with the Warsaw Stock Exchange.
Arctic Paper SA Capital Group consolidated half-year report for 2015
| Source: Arctic Paper AB