Management Board of Arctic Paper S.A. herewith publishes the standalone
financial statement of Arctic Paper SA for 2015.
Selected standalone financial data
For the For the For the For the period
period period period from 01.01.2014
from from from to 31.12.2014
01.01.2015 01.01.2014 01.01.2015
to to to
31.12.2015 31.12.2014 31.12.2015
000'PLN 000'PLN 000'EUR 000'EUR
Revenues 106 706 38 779 25 501 9 267
Operating 8 436 (22 215) 2 016 (5 309)
profit
(loss)
Profit 5 077 (25 076) 1 213 (5 993)
(loss)
before tax
Profit 4 909 (25 110) 1 173 (6 001)
(loss) from
continuing
operations
Profit 4 909 (25 110) 1 173 (6 001)
(loss) for
the period
Net (11 111) (10 387) (2 655) (2 482)
operating
cash flow
Net 4 468 (21 405) 1 068 (5 115)
investment
cash flow
Net (2 529) 41 381 (604) 9 889
financial
cash flow
Net change (9 172) 9 589 (2 192) 2 292
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 0,07 (0,36) 0,02 (0,09)
PLN/EUR)
Diluted EPS 0,07 (0,36) 0,02 (0,09)
(in
PLN/EUR)
Average 4,1843 4,1845
PLN/EUR
rate*
As at As at As at As at
31 31 31 31 December 2014
December December December
2015 2014 2015
000'PLN 000'PLN 000'EUR 000'EUR
Assets 950 202 936 635 222 974 219 749
Long-term 205 001 227 109 48 105 53 283
liabilities
Short-term 76 242 44 632 17 891 10 471
liabilities
Equity 668 959 664 893 156 977 155 994
Share 69 288 69 288 16 259 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 9,65 9,60 2,27 2,25
per share
(in
PLN/EUR)
Diluted 9,65 9,60 2,27 2,25
book value
per share
(in
PLN/EUR)
Declared or - - - -
paid
dividend
(in
PLN/EUR)
Declared or - - - -
paid
dividend
per share
(in
PLN/EUR)
PLN/EUR 4,2615 4,2623
rate at the
end of the
period**
* 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.
INDEPENDENT AUDITORS’ OPINION
To the Supervisory Board and the Shareholders’ Meeting of Artcic Paper S.A.
1. We have audited the attached financial statements for the year ended 31
December 2015 of Arctic Paper S.A. (‘the Company‘) located in Poznań at
Dąbrowskiego 334A, containing balance sheet as at 31 December 2015, the income
statement, the statement of comprehensive income, the statement of changes in
equity, the cash flow statement for the period from 1 January 2015 to 31
December 2015 and the summary of significant accounting policies and other
explanatory notes (‘the attached financial statements’).
2. The truth and fairness[1] (http://connect.ne.cision.com#_ftn1) of the
attached financial statements, the preparation of the attached financial
statements in accordance with the required applicable accounting policies and
the proper maintenance of the accounting records are the responsibility of the
Company’s Management Board. In addition, the Company’s Management Board and
Members of the Supervisory Board are required to ensure that the attached
financial statements and the Directors’ Report meet the requirements of the
Accounting Act dated 29 September 1994 (Journal of Laws 2013.330 with subsequent
amendments – ‘the Accounting Act’). Our responsibility was to audit the attached
financial statements and to express an opinion on whether, based on our audit,
these financial statements comply, in all material respects, with the required
applicable accounting policies, whether they truly and
fairly[2] (http://connect.ne.cision.com#_ftn2) reflect, in all material
respects, the financial position and results of the operations of the Company
and whether the accounting records that form the basis for their preparation
are, in all material respects, properly maintained.
3. We conducted our audit of the attached financial statements in accordance
with:
· chapter 7 of the Accounting Act;
· National Auditing Standards issued by the National Council of Statutory
Auditors;
in order to obtain reasonable assurance whether these financial statements are
free of material misstatement. In particular, the audit included examining, to a
large extent on a test basis, documentation supporting the amounts and
disclosures in the attached financial statements. The audit also included
assessing the accounting principles adopted and used and significant estimates
made by the Company’s Management Board, as well as evaluating the overall
presentation of the attached financial statements. We believe our audit has
provided a reasonable basis to express our opinion on the attached financial
statements treated as a whole.
4. In our opinion, the attached financial statements, in all material respects:
· present truly and fairly all information material for the assessment of the
results of the Company’s operations for the period from 1 January 2015 to 31
December 2015, as well as its financial
position[3] (http://connect.ne.cision.com#_ftn3) as at 31 December 2015;
· have been prepared in accordance with International Financial Reporting
Standards as adopted by the EU and based on properly maintained accounting
records;
· are in respect of the form and content, in accordance with legal regulations
governing the preparation of financial statements and the Company’s Articles of
Association.
5. We have read the ‘Directors’ Report for the period from 1 January 2015 to 31
December 2015 and the rules of preparation of annual statements’ (‘the
Directors’ Report’) and concluded that the information derived from the attached
financial statements reconciles with these financial statements. The information
included in the Directors’ Report corresponds with the relevant regulations of
art. 49 para 2 of the Accounting Act and the Decree of the Minister of Finance
dated 19 February 2009 on current and periodic information published by issuers
of securities and conditions for recognition as equivalent the information
required by laws of non-EU member states (Journal of Laws 2014.133 with
subsequent amendments).
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, 21 March 2016
----------------------------------------------------------------------
[1] (http://connect.ne.cision.com#_ftnref1) Translation of the following
expression in Polish: ‘rzetelność i jasność’
[2] (http://connect.ne.cision.com#_ftnref2) Translation of the following
expression in Polish: ‘rzetelnie i jasno’
[3] (http://connect.ne.cision.com#_ftnref3) Translation of the following
expression in Polish: ‘sytuacja majątkowa i finansowa’
For additional information, please contact:
Wolfgang Lübbert, President of the Management Board of Arctic Paper, tel.
49 405 148 5310
Arctic Paper S.A. financial statement for the year 2015 together with independent auditor's opinion.
| Quelle: Arctic Paper AB
Anhänge
