KPLP Q2 2021 Business and Financial Highlights
• Revenue decreased by $47.5 million or 12.3% to $339.3 million in Q2 2021 compared to $386.8 million in Q2 2020.
• Adjusted EBITDA was $37.3 million in Q2 2021 compared to $64.4 million in Q2 2020, a decrease of 42.1%, and similar sequentially to the $37.5 million in Q1 2021.
• TAD Sherbrooke continues to run above the expected start-up curve.
• Completed financing for the Sherbrooke Expansion Project.
• Declared a quarterly dividend of $0.18 per share to be paid on October 15, 2021.
“Given continued soft demand resulting from COVID-19 related de-stocking by retailers and consumers, headwinds from high pulp prices and a gradual market recovery in the Away-From-Home segment, results for the quarter were largely in line with our expectations. Consequently, revenues were under pressure and Adjusted EBITDA for the quarter was down significantly compared to last year’s record level, but was stable when compared to the first quarter of this year,” stated KP Tissue’s Chief Executive Officer, Dino Bianco.
“Our share position remains strong in all tissue product categories and the launch of SpongeTowels UltraProTM continues to exceed our expectations and led to important share gains in the category. TAD Sherbrooke’s start-up curve remains ahead of schedule and provides the paper tissue capacity required to meet our long-term growth plans.
more at: https://www.kptissueinc.com/gpc/_media/Document/kp-tissue-inc-q2-2021-earnings-release-eng-vf.pdf