Arctic Paper S A : Auditor's Report on the Interim Condensed Consolidated Financial Statements for the 6 month period ended on 30 June 2021
August 17, 2021 at 11:44 am EDT
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This document is a free translation of the Polish original. Terminology current in Anglo-Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referred to in matters of interpretation.
Independent Auditor's Report on Review of Condensed Interim Consolidated Financial Statements
To the Shareholders and Supervisory Board of Arctic Paper S.A.
Introduction
We have reviewed the accompanying condensed interim consolidated financial statements of Arctic Paper S.A. Group (the "Group"), whose parent entity is Arctic Paper S.A. (the "Parent Entity"), which comprise:
the condensed consolidated statement of financial position as at 30 June 2021,
and, for the three-month and six-month periods ended 30 June 2021:
the condensed consolidated statement of profit and loss;
the condensed consolidated statement of comprehensive income;
and, for the six-month period ended
30 June 2021:
the condensed consolidated statement of changes in equity;
the condensed consolidated cash flow statement;
and
notes comprising a summary of significant accounting policies and other explanatory information
(the "condensed interim consolidated financial statements").
The Management Board of the Parent Entity is responsible for the preparation and presentation of these condensed interim consolidated financial statements in accordance with IAS 34 Interim Financial Reporting, as adopted by the European Union. Our responsibility is to express
a conclusion on these condensed interim consolidated financial statements based on our review.
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KPMG Audyt spółka z ograniczoną odpowiedzialnością sp.k.
We conducted our review in accordance with the International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity as adopted by the resolution of the National Council of Statutory Auditors as the National Standard on Review 2410. A review of the interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters and applying analytical
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim consolidated financial statements are not prepared, in all
and other review procedures. A review is substantially less in scope than an audit conducted in accordance with National Standards on Auditing or International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
material respects, in accordance with IAS 34 Interim Financial Reporting, as adopted by the European Union.
On behalf of audit firm
KPMG Audyt Spółka z ograniczoną odpowiedzialnością sp.k.
Registration No. 3546
Signed on the Polish original
Signed on the Polish original
Wojciech Drzymała
Ewa Skrzypczak
Key Statutory Auditor
Key Statutory Auditor
Registration No. 90095
Registration No. 12897
Limited Partner, Proxy
Poznań, 17 August 2021
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Arctic Paper SA published this content on 17 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2021 15:43:11 UTC.
Arctic Paper SA is a Poland-based holding company engaged in the paper industry. The Company divides its business into three segments of graphic paper: Fine paper, Newsprint, and Magazine paper. The Company's main activities are manufacturing and sale of graphic fine uncoated and coated paper, under the brands: Amber, G-Print, Munken, Pamo, Arctic, L-Print and AP Tech, among others. It offers uncoated wood-free paper, coated wood-free paper, as well as uncoated wood-containing paper. The Company operates four paper mills, located in Kostrzyn, Poland, Munkendals and Grycksbo, Sweden, and Mochenwangen, Germany. Among the Companyâs customers are printing houses, distributors, publishing houses and advertising agencies. The Company is a parent entity of the Arctic Paper Capital Group As of December 31, 2011 Arctic Paper AB, based in Sweden, held a 74.8% stake in the Company. On February 26, 2013, the Company increased its stake in Rottenros AB to 54.2%.