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Arctic Paper (ARP) investor relations material
Arctic Paper Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 net sales were PLN 796.2 million, down 2.8% year-over-year, reflecting lower demand, price declines, and currency effects.
EBITDA for Q3 2025 was PLN 38.9 million, down 49.7% year-over-year but improved sequentially from Q2 2025, indicating operational stability.
The pulp segment contributed negatively for the first time, while the paper segment showed stabilization and growth in volumes.
Cost reduction and efficiency programs are underway, targeting annual savings of PLN 45–50 million, with main effects expected in 2026.
The Group’s financial position remains solid, with net debt/EBITDA at 1.5–1.54x.
Financial highlights
Q3 2025 sales revenue: PLN 796.2 million (down 2.8% YoY, down 4.5% QoQ).
EBITDA: PLN 38.9 million (down 49.7% YoY), margin 4.9%.
Net debt/EBITDA ratio increased to 1.54x at Q3 2025 end, up from 0.08x a year earlier.
Refinancing completed ahead of schedule, with favorable terms and lower interest rates.
CapEx reduced from over PLN 420 million in 2024 to below PLN 300 million in 2025, and planned below PLN 200 million in 2026.
Outlook and guidance
No recovery in European demand is expected before late 2025 or early 2026.
Efficiency programs and cost reduction initiatives are expected to generate annual savings of PLN 45–50 million from 2026.
Revenues from new business areas (packaging and pellets) are projected to increase EBITDA by PLN 20 million.
CapEx expenditures will be reduced for 2026 and 2027.
Focus remains on maximizing sales outside Europe and continuing cost and efficiency programs.
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