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 2016 together with Independent Auditors’ Review
Report on the Interim Condensed Consolidated Financial Statements for the 6
month period ended 30 June 2016 and Independent Auditors’ Review Report on the
Interim Condensed Financial Statements for the 6 month period ended 30 June
2016.
Selected consolidated financial data
For the For the For the For the
period period period period
from from from from
01.01.2016 01.01.2015 01.01.2016 01.01.2015
to to to to
30.06.2016 30.06.2015 30.06.2016 30.06.2015
thousand thousand thousand thousand
PLN PLN EUR EUR
Continuing
operations
Revenues 1 499 825 1 459 352 343 340 352 422
Operating 75 081 62 825 17 188 15 172
profit
(loss)
Profit 54 115 50 502 12 388 12 196
(loss)
before tax
Profit 36 672 51 890 8 395 12 531
(loss) from
continuing
operations
Discontinued
operations
Profit (6 340) (25 946) (1 451) (6 266)
(loss) from
discontinued
operations
Profit 30 332 25 944 6 944 6 265
(loss) for
the period
Profit 9 881 (7 181) 2 262 (1 734)
(loss)
attributable
to equity
holders of
the parent
Net 15 384 55 890 3 522 13 497
operating
cash flow
Net (62 599) (23 349) (14 330) (5 639)
investing
cash flow
Net (17 536) (6 113) (4 014) (1 476)
financing
cash flow
Net change (64 750) 26 428 (14 823) 6 382
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 0,14 (0,10) 0,03 (0,03)
PLN/EUR)
Diluted EPS 0,14 (0,10) 0,03 (0,03)
(in PLN/EUR)
Average 4,3683 4,1409
PLN/EUR
rate*
As at As at As at As at
30 June 31 30 June 31
2016 December 2016 December
2015 2015
thousand thousand thousand thousand
PLN PLN EUR EUR
Assets 1 750 212 1 813 235 395 483 425 492
Long-term 360 071 372 599 81 363 87 434
liabilities
Short-term 645 970 682 515 145 965 160 159
liabilities
Liabilities 40 013 81 264 9 041 19 069
directly
associated
with
discontinued
operations
Equity 704 158 676 856 159 114 158 830
Share 69 288 69 288 15 656 16 259
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 10,16 9,77 2,30 2,29
per share
(in PLN/EUR)
Diluted book 10,16 9,77 2,30 2,29
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 - - 4,4255 4,2615
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
01.01.2016 01.01.2015 01.01.2016 01.01.2015
to to to to
30.06.2016 30.06.2015 30.06.2016 30.06.2015
PLN PLN EUR EUR
thousand thousand thousand thousand
Sales revenues 59 389 70 133 13 595 16 937
Operating profit 14 784 24 437 3 384 5 901
(loss)
Profit (loss) before 10 197 23 112 2 334 5 581
tax
Profit (loss) from 10 197 23 112 2 334 5 581
continuing
operations
Profit (loss) for 10 197 23 112 2 334 5 581
the period
Net operating cash 1 934 (12 781) 443 (3 086)
flow
Net investing cash (2 982) 19 980 (683) 4 825
flow
Net financing cash (706) (703) (162) (170)
flow
Net change in cash (1 754) 6 496 (401) 1 569
and cash equivalents
Weighted average 69 287 783 69 287 783 69 287 783 69 287 783
number of shares
Weighted average 69 287 783 69 287 783 69 287 783 69 287 783
diluted number of
shares
EPS (in PLN/EUR) 0,15 0,33 0,03 0,08
Diluted EPS (in 0,15 0,33 0,03 0,08
PLN/EUR)
Average PLN/EUR 4,3683 4,1409
rate*
As at 30 As at As at 30 As at
June 2016 31 June 2016 31
December December
2015 2015
PLN PLN EUR EUR
thousand thousand thousand thousand
Assets 939 718 950 202 212 342 222 974
Long-term 189 929 205 001 42 917 48 105
liabilities
Short-term 70 740 76 242 15 985 17 891
liabilities
Equity 679 049 668 959 153 440 156 977
Share capital 69 288 69 288 15 656 16 259
Number of shares 69 287 783 69 287 783 69 287 783 69 287 783
Diluted number of 69 287 783 69 287 783 69 287 783 69 287 783
shares
Book value per share 9,80 9,65 2,21 2,27
(in PLN/EUR)
Diluted book value 9,80 9,65 2,21 2,27
per share (in
PLN/EUR)
Declared or paid - - - -
dividend (in
PLN/EUR)
Declared or paid - - - -
dividend per share
(in PLN/EUR)
PLN/EUR rate at the - - 4,4255 4,2615
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 Auditor’s Report
on review of interim condensed consolidated financial statements
To the General Shareholders Meeting and Supervisory Board of Arctic Paper S.A.
Introduction
We have reviewed the accompanying interim condensed consolidated financial
statements of Arctic Paper S.A. Capital Group (‘the Group’), with parent’s
company Arctic Paper S.A. (‘the Company’) registered office located at Jana
Henryka Dąbrowskiego 334A in Poznań as of 30 June 2016 and the related interim
condensed consolidated balance sheet as at 30 June 2016, 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 2016 to 30 June 2016 accounting policies and other explanatory
notes (‘the interim condensed consolidated financial statements’).
Management is responsible for the preparation and presentation of accompanying
interim condensed consolidated financial statements in accordance with
International Financial Reporting Standard IAS 34 Interim Financial Reporting as
adopted by the European Union (‘IAS 34’). Our responsibility is to express a
conclusion on accompanying interim condensed consolidated financial statements
based on our review.
Scope of review
We conducted our review in accordance with National Financial Revision Standard
2410 based on International Standard on Review Engagements 2410 Review of
Interim Financial Information Performed by the Independent Auditor of the Entity
prepared by International Auditing and Assurance Standards Board (‘standard’). A
review of interim financial information consists of making inquiries, primarily
of persons responsible for financial and accounting matters, and applying
analytical and other review procedures. A review is substantially less in scope
than an audit conducted in accordance with National Standards on Auditing and
consequently does not enable us to obtain 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 on accompanying interim condensed consolidated
financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe
that accompanying interim condensed consolidated financial statements are not
prepared, in all material respects, in accordance 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
Independent Auditor’s Report
on review of interim condensed financial statements
To the General Shareholders Meeting and Supervisory Board of Arctic Paper S.A.
Introduction
We have reviewed the accompanying interim condensed financial statements of
Arctic Paper S.A. (‘the Company’) with registered office located at Jana Henryka
Dąbrowskiego 334A in Poznań as of 30 June 2016, and the related interim
condensed balance sheet as at 30 June 2016, 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 2016 to 30 June 2016, accounting
policies and other explanatory notes (‘the interim condensed financial
statements’).
Management is responsible for the preparation and presentation of accompanying
interim condensed financial statements in accordance with International
Financial Reporting Standard IAS 34 Interim Financial Reporting as adopted by
the European Union (‘IAS 34’). Our responsibility is to express a conclusion on
accompanying interim condensed financial statements based on our review.
Scope of review
We conducted our review in accordance with National Financial Revision Standard
2410 based on International Standard on Review Engagements 2410 Review of
Interim Financial Information Performed by the Independent Auditor of the Entity
prepared by International Auditing and Assurance Standards Board (‘standard’). A
review of interim financial information consists of making inquiries, primarily
of persons responsible for financial and accounting matters, and applying
analytical and other review procedures. A review is substantially less in scope
than an audit conducted in accordance with National Standards on Auditing and
consequently does not enable us to obtain 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 on accompanying interim condensed financial
statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe
that accompanying interim condensed financial statements are not prepared, in
all material respects, in accordance 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
For additional information, please contact:
Per Skoglund, acting President of the Management Board of Arctic Paper, tel.
+46 733 21 70 09
Arctic Paper SA Capital Group half-year report for the 6 month period ended 30th June 2016 together with Independent Auditors’ Review Reports
| Source: Arctic Paper AB
Attachments
