Arctic Paper S.A. — Earnings Release 2023

Feb 15, 2024

Attachment no 1 to the Current report no. 2/2024 dated February 15th 2024

Table 1: Preliminary selected consolidated profit and loss account items

PLN '000	YTD 2023	YTD 2022
Sales revenues	3 549 153	4 894 276
EBIT	357 068	842 979
EBITDA	475 304	973 973
Net profit/ (loss)	272 388	756 822
Net profit / (loss) for the reporting period attributable to the
shareholders of the Parent Entity	247 132	631 001

Table 2: Preliminary selected consolidated balance sheet items

PLN '000	31.12.2023	31.12.2022
Fixed assets	1 292 261	1 371 867
Inventories	444 930	601 205
Receivables	416 268	504 024
Other current assets	68 968	295 459
Cash and cash equivalents	500 449	481 930
Total assets	2 722 877	3 254 485
Equity	1 801 508	2 052 182
Short-term liabilities	641 617	806 906
Long-term liabilities	279 752	395 397
Total equity and liabilities	2 722 877	3 254 485

Table 3: Preliminary selected items of the consolidated cash flow statements

PLN '000	YTD 2023	YTD 2022
Cash flows from operating activities	473 262	607 383
Cash flows from investing activities	(146 719)	(155 879)
Cash flows from financing activities	(290 993)	(124 588)
Total cash flows	35 550	326 916