KP Tissue Releases Fourth Quarter and Full Year 2022 Financial Results

KP Tissue Inc. (KPT) (TSX: KPT) reports the Q4 2022 and full year 2022 financial and operational results of KPT and Kruger Products L.P. (KPLP). Kruger Products is Canada’s leading manufacturer of quality tissue products for the Consumer market (Cashmere®, Purex®, SpongeTowels®, Scotties®, White Swan® and Bonterra™) and the Away-From-Home (AFH) market and continues to grow in the U.S. Consumer tissue business with the White Cloud® brand and premium private label products. KPT currently holds a 13.7% interest in Kruger Products.

KPLP Q4 2022 Business and Financial Highlights
• Revenue was $458.1 million in Q4 2022 compared to $424.1 million in Q4 2021, an increase of $34.0 million or 8.0%.
• Adjusted EBITDA1 was $44.4 million in Q4 2022, compared to $38.3 million in Q4 2021, an increase of 15.8%.
• Net income was $16.0 million in Q4 2022, compared to net income of $42.3 million in Q4 2021, a decrease of $26.3 million.
• Declared a quarterly dividend of $0.18 per share to be paid on April 17, 2023.

KPLP Full Year 2022 Financial Highlights
• Revenue was $1,681.4 million in 2022 compared to $1,465.2 million in 2021, an increase of $216.2 million or 14.8%.
• Adjusted EBITDA1 was $116.0 million in 2022, down from $153.4 million in 2021, a decrease of 24.4%.
• Net loss was $56.9 million in 2022, compared to net income of $42.0 million in 2021, a decrease of $98.9 million.

“We are highly encouraged by the ongoing recovery of our financial results in 2022 despite uncertain market conditions and persistent inflationary pressure,” stated KP Tissue’s Chief Executive Officer, Dino Bianco. “Revenue improved 15% year-overyear to $1.7 billion mainly due to selling price increases across all segments and regions to counter higher pulp, manufacturing and freight costs. In the Consumer segment, we witnessed lower volume in the latter part of the year as some consumers traded down on purchases given higher market pricing. Away-From-Home had a strong quarter driven by greater volume as the segment continues to recover.
https://www.kptissueinc.com/gpc/_media/Document/kp-tissue-inc-q4-2022-earnings-release-eng-vf.pdf

Related Posts

Fortress Paper Provides Update on Auxiliary System Failure at its Dissolving Pulp Mill

Fortress Paper Ltd. reports that it has completed an assessment of the failure of a pressurized auxiliary gas collection system at the Fortress Specialty Cellulose Mill (the "FSC Mill") in Thurso, Québec that was reported on September 21, 2017. The Company has identified the source of the failure and is in the process of repairing and replacing the damaged components. The Company has dispatched personnel to multiple supplier and repair locations to further attempt to expedite the work to be completed. Based on best effort commitments provided by equipment and parts suppliers, management believes that production at the FSC Mill will be restarted on or prior to October 9, 2017. The Fifth Digester Project continues to advance in the normal course and the cogeneration facility continues to operate at a reduced rate. Click Read More below for additional detail.

UPM Raflatac wins 2023 TLMI Calvin Frost Elevation Sustainability Award

UPM Raflatac, a global supplier of innovative and more sustainable self-adhesive paper and film products, recently won the 2023 Calvin Frost Elevation Sustainability Award at the 2023 Tag and Label Manufacturers Institute, Inc. (TLMI) Annual Meeting. This award acknowledges TLMI members that have made significant strides in environmental and social aspects of sustainability. UPM Raflatac works in many areas to demonstrate its commitment to sustainability. The company is making huge strides towards its 2030 commitments, including progress towards their certified paper commitment, as well as towards their CO2e reduction targets. This year EcoVadis has recognised UPM with a platinum score based on the company’s sustainability performance in the following four categories: Environment, Labour and human rights, Ethics and Sustainable procurement. Only one per cent of the 100,000 global companies assessed received platinum.

Navigator North America Announces Price Increass & Freight Surcharge

Effective with shipments on or after May 20, 2018, Navigator North America will be increasing prices by 5% to 7% for: Navigator Premium Inkjet, Soporset Premium Opaque Offset (Text & Cover & Digital) in sheets and sSheeter rolls and all cut-size office papers including Navigator, Pioneer and Discovery. Also implementing a freight surcharge of $2.00/cwt for shipments to CO, NM, OR, WA, NV and AZ and a $4.00/cwt freight surcharge for shipments to ID, UT, WY, MT, SD and ND.
Back To Top
×Close search
Search