Arctic Paper posts lower initial sales results for 2023

foto arctic_paper

Revenues drop year-on-year Arctic Paper has released the company’s initial financial results for last year, reporting a decrease in sales, among others. 


In 2023, the group’s consolidated sales totaled PLN 3.55 billion ($882 million), down from PLN 4.89 billion a year earlier. The firm also reported a lowed Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for last year, at PLN 475.3 million, down from PLN 974 million reported for 2022, as indicated by initial financial figures released by Arctic Paper. 


Michał Jarczyński, the company’s CEO, commented that, even though

the paper segment's sales decreased to PLN 581.2 million (770.0 million) compared to the exceptional period last year, EBITDA remained stable at PLN 119.8 million (122.3 million) and the EBITDA margin increased to 20.6 percent (15.9). The positive development is a result of our continued focus on efficiency and cost optimizing. The fourth quarter is normally weaker, but this year we saw positive signals of a change in demand on the paper market.”