Arctic Paper, the second-largest European producer of high-bulk book paper and one of Europe's leading producers of graphic paper, achieved excellent financial results through four quarters of 2009. The Group earned sales revenues of nearly 1.8 billion Zlotys, up more than 42 percent from the previous year. Operating profit rose by more than 170 percent, to 179.3 million Zlotys. Net profit was nearly 132.4 million Zlotys, up more than 163 percent from 2008.The operating margin increased to 9.9 percent, from 5.2 percent in 2008, and the net margin increased to 7.3 percent, from nearly four percent in 2008.One of the reasons for Arctic Paper's dynamic sales growth was consolidation of the results of the paper mill in Mochenwangen, Germany, acquired in December 2008, whose revenues were not reflected in the results for the first three quarters of 2008. Growth was also due to good sales results for specific paper mills and favourable changes in exchange rates, particularly Euro-Zloty and Euro-Krona.Sales volume grew significantly in 2009, at 573,000 metric tons, compared to 455,000 tons in 2008 - an increase of 118,000 tons or 25.8 percent.“We are pleased with the excellent results of Arctic Paper,” said Michal Jarczynski, CEO of Arctic Paper SA. “We are also happy that we have already been able to fulfil our promises made to the investors during the public offering. We have paid down a third of the debt and acquired the Grycksbo paper mill, which fits in perfectly with our structure both in terms of the product range and the sales network. Thanks to the acquisition our production capacity will grow, to reach 800,000 metric tons per year. The effects of this acquisition will be visible in the consolidated results from 1 March 2010.”