In the 3rd quarter of 2017 the Arctic Paper Group generated sales revenue of nearly PLN 735.9m. EBITDA was PLN 70.8m and operating profit PLN 38.5m. The Group’s net profit on continuing operations in Q3 2017 was PLN 25.6m. The weaker results of Arctic Paper in the 3rd quarter were due primarily to the effect of a further increase in pulp prices which has not been fully offset yet by higher paper prices. The result was also affected by the planned stoppage at the Arctic Paper Kostrzyn plant for 12 days in July of this year, connected with an investment to increase the production efficiency at that plant. Per Skoglund, CEO of Arctic Paper, commented: “The decline in profit is mainly due to continued high pulp prices, which we will not be able to fully compensate for by price increases during 2017. On top of that, a planned investment stoppage in Arctic Paper Kostrzyn affected sales and profit during the period. The investment in increased production efficiency will have a future positive impact and strengthen our ability to serve our customers in a competitive way.” Click Read More below for additional information.
Toronto -based Corporate Knights, renowned for its contribution to promoting clean capitalism, has just released its annual list of the Global 100 Most Sustainable Corporations in the World, following an in-depth analysis of over 7,000 international organizations with revenues exceeding $1 billion. In keeping with tradition, the announcement was made on the sidelines of World Economic Forum Annual Meeting in Davos . Cascades is pleased to announce that it has ranked 49 th among this select group of companies that are committed to best practices in the environmental, social and governance arenas. Adding to this recognition is the fact that Cascades is the only Containers and Packaging company on the list and is one of 12 Canadian businesses.
“Cascades has always been proactive in communicating its results in a transparent manner. As early as 1996, we were disclosing our environmental and social data in our annual report. With our stakeholders in mind, we have been increasing the number of ESG projects over the years, and our results have been steadily improving. We are pleased that our efforts are paying off, and that they are also earning recognition from various third parties and through acknowledgments such as the Global 100 list. We are very proud of this achievement,” said Mario Plourde, President and Chief Executive Officer of Cascades. Besides winning a number of social responsibility and sustainable development awards, Cascades has consistently ranked among Corporate Knights’ Best 50 Corporate Citizens in Canada since 2007.
According to Toby Heaps , CEO and co-founder of Corporate Knights, “companies that put social responsibility and sustainable development at the core of their business model and their thinking endure over time and do better than their competitors. These are the conclusions that can be drawn from the description of companies found on the Global 100 list since 2005.”
Delighted with this news, Alain Lemaire , Executive Chairman of the Board of Directors and co‑founder of Cascades, said, “I am very pleased with the things we achieve every day and the positive contribution we have made to the industry over the past 55 years. We work upstream to ensure quality input materials from suppliers who share the same values as us. Our dedicated teams are continually improving our processes, and our products are developed with the aim of reducing their environmental footprint to ensure that our customers are satisfied. For us, acting and behaving responsibly is always the right thing to do.”
What makes this nomination remarkable
A variety of governance elements make it possible for Cascades to stand out: diversity on its board of directors, a high percentage of clean revenues from the sale of eco-friendly products, the CEO‑to‑employee pay ratio, and the inclusion of sustainable development objectives in performance evaluation.