Arctic Paper: Weakness in the German sales market affects results in 2024
News General news
The fourth quarter of 2024 was not good for the Polish Arctic Paper Group, particularly in the pulp segment, and the company also posted worse results for the year as a whole than in 2023.
The group made a net profit of PLN 161.1 million in 2024, around 40% less than in 2023. Operating profit fell by almost half to PLN 184.3 million, while sales fell slightly by 3% to PLN 3.4 billion. The declines in the fourth quarter compared to the same period of the previous year were even more pronounced. Nevertheless, CEO Michal Jarczyński was satisfied with the Group's results in view of the weak economy and the economic challenges and spoke of the company's solid financial position and stable position.
Jarczyński emphasized the adverse circumstances and weak demand in its core European markets, which had a negative impact on sales. The weakness of the German market, Arctic Paper's largest sales market, hit the company particularly hard. This was compounded by high raw material prices, according to reports.
