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آرشیو برچسب های: Arctic Paper S.A

Arctic Paper changes its liquidity provider to Carnegie

Arctic Paper S.A. has terminated the liquidity provider assignment with Erik Penser and has appointed Carnegie Investment Bank AB as new liquidity provider for the company’s shares on Nasdaq Stockholm. The arrangement is in accordance with the framework of Nasdaq Stockholm’s rules on liquidity providers.

In the role of liquidity provider Carnegie undertakes to continuously quote prices for the Arctic Papers share in accordance with the from time-to-time applicable minimum requirements for liquidity providers set out by Nasdaq Stockholm. The purpose is to improve the liquidity of the share and reduce the spread between the buying and selling price.

Carnegie’s assignment commences on 30 November 2023.

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Arctic Paper expects lower Q2 result

Arctic Paper S.A. expects an EBITDA result for the Q2 2023 in the range of PLN 60-70 million ($14.7- 17.2 million), which is lower than current market estimates. The lower result is due to a significantly lower revenue of PLN 836 million ($205 million); this in turn is due to the general economic slowdown and customers destocking. Arctic Paper focuses on margins and has adapted production with a high degree of cost efficiency to meet the weaker market.

“The volatility of the pulp and paper markets serves as a reminder of the importance of our long-term strategic plan to diversify into energy and packaging, while maintaining our strong positions in the pulp and paper markets. We are working intensively to develop future growth opportunities in line with the 4P strategy”, says Michal Jarczyński, CEO of Arctic Paper S.A.

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Arctic Paper CFO, Göran Eklund, to Retire, Katarzyna Wojtkowiak Named Successor

Arctic Paper announced that the group’s CFO, Göran Eklund, will retire at the end of June and will be replaced, with effect as of May 29, by Katarzyna Wojtkowiak, who is currently Chief Accountant.

Wojtkowiak has been Chief Accountant and Group Treasury at Arctic Paper for over 11 years. Prior to this, she has worked in various roles in accounting and finance at Flexlink in Poland.

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