Management Board of Arctic Paper S.A. herewith publishes the standalone financial statement of Arctic Paper SA for 2013. Selected standalone financial data For the For the For the For the period period period period from 01.01.2012 from from from to 31.12.2012 01.01.2013 01.01.2012 01.01.2013 to to to 31.12.2013 31.12.2012 31.12.2013 000'PLN 000'PLN 000'EUR 000'EUR Revenues 107 172 110 902 25 532 26 499 Operating (179 498) 35 784 (42 762) 8 550 profit (loss) Profit (179 910) 13 528 (42 860) 3 232 (loss) before tax Profit (179 910) 13 529 (42 860) 3 233 (loss) from continuing operations Profit (179 910) 13 529 (42 860) 3 233 (loss) for the period Net 76 185 209 353 18 150 50 022 operating cash flow Net (38 272) (43 040) (9 118) (10 284) investment cash flow Net (59 251) (159 718) (14 116) (38 162) financial cash flow Net change (21 338) 6 596 (5 083) 1 576 in cash and cash equivalents Weighted 68 905 218 66 144 483 68 905 218 66 144 483 average number of shares Weighted 68 905 218 66 144 483 68 905 218 55 727 201 average diluted number of shares EPS (in (2,61) 0,20 (0,62) 0,05 PLN/EUR) Diluted EPS (2,61) 0,20 (0,62) 0,05 (in PLN/EUR) Average 4,1976 4,1852 PLN/EUR rate* As at As at As at As at 31 31 31 31 December 2012 December December December 2013 2012 2013 000'PLN 000'PLN 000'EUR 000'EUR Assets (as 905 588 1 113 516 218 361 272 373 on 31/12/2013 i 31/12/2012 ) Long-term 178 188 131 102 42 966 32 068 liabilities (as on 31/12/2013 i 31/12/2012 ) Short-term 37 356 132 216 9 007 32 341 liabilities (as on 31/12/2013 i 31/12/2012 ) Equity (as 690 044 850 198 166 388 207 964 on 31/12/2013 i 31/12/2012 ) Share 69 288 55 404 16 707 13 552 capital (as on 31/12/2013 i 31/12/2012 ) Number of 69 287 783 66 144 483 69 287 783 66 144 483 shares Diluted 69 287 783 66 144 483 69 287 783 55 727 201 number of shares Book value 9,96 12,85 2,40 3,14 per share (in PLN/EUR) Diluted 9,96 12,85 2,40 3,14 book value per share (in PLN/EUR) Declared or - 9 972 630 - 2 439 369 paid dividend (in PLN/EUR) Declared or - 0,18 - 0,04 paid dividend per share (in PLN/EUR) PLN/EUR 4,1472 4,0882 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 of Arctic Paper S.A. 1. We have audited the attached financial statements for the year ended 31 December 2013 of Arctic Paper S.A. (‘the Company‘) located in Poznań at Dąbrowskiego 334A, containing balance sheet as at 31 December 2013, the income statement, the statement of comprehensive income, the statement of changes in equity, the cash flow statement for the period from 1 January 2013 to 31 December 2013 and the summary of significant accounting policies and other explanatory notes (‘the attached financial statements’). 2. The truth and fairness[1] (http://#_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://#_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 2013 to 31 December 2013, as well as its financial position[3] (http://#_ftn3) as at 31 December 2013; · 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 2013 to 31 December 2013 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 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 2009.33.259 with subsequent amendments). Ernst & Young Audyt Polska spółka z ograniczoną odpowiedzialnością sp. k. (formerly: Ernst & Young Audit sp. z o.o.) Rondo ONZ 1, 00-124 Warsaw Reg. No 130 Key Certified Auditor Andrzej Kowal certified auditor No. 90032 Warsaw, 21 March 2014 ---------------------------------------------------------------------- [1] (http://#_ftnref1) Translation of the following expression in Polish: ‘rzetelność i jasność’ [2] (http://#_ftnref2) Translation of the following expression in Polish: ‘rzetelnie i jasno’ [3] (http://#_ftnref3) Translation of the following expression in Polish: ‘sytuacja majątkowa i finansowa’ For additional information, please contact: Wolfgang Luebbert, CEO, tel. +49 40 51485310
Arctic Paper S.A. financial statement for the year 2013 together with independent auditor's opinion.
| Source: Arctic Paper AB