KP Tissue Releases Second Quarter 2021 Financial Results

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

Related Posts

NORPAC to Hire 50 New Employees, Restarts Paper Machine on Limited Basis

With the U.S. uncoated groundwood papers industry starting to see a level playing field against unfairly traded imports, North Pacific Paper Company (NORPAC) CEO Craig Anneberg announced the hiring of 50 new full- and part-time employees and the limited restart of operations for Paper Machine 1 (PM1) idled this past year: "NORPAC has a world-class facility that can compete with anyone in the world on a level playing field. With the recent trade case preliminary determinations made by the Department of Commerce, important steps toward fair competition for American producers, NORPAC is excited to announce the hiring of 50 new employees and the limited restart of operations for Paper Machine 1 at our Longview facility to meet growing demand. Click Read More below for additional information.

Georgia-Pacific Products with Purpose

Georgia-Pacific recently relaunched its Quilted Northern Ultra Soft & Strong® sub-brand to provide what one could say is a two-for-one deal. Combining both a sustainable bath tissue product that consumers can feel good about purchasing, while being able to enjoy the same premium comfort and quality. “Consumers today often believe they have to choose between bath tissue products that are either comfortable or sustainable, and we don’t think they should have to choose,” said Vivek Joshi, General Manager of Retail Bath Tissue at Georgia-Pacific. “When we decided to relaunch the Quilted Northern Ultra Soft & Strong® sub-brand, our vision was to produce the same comfortable bath tissue our consumers know and love, but to do so in way that ensures they can feel good about purchasing a product that’s made with the environment in mind. While we are the experts when it comes to developing a more energy and water-efficient manufacturing process, for the tree plantings it was important to us to work with experts like the Arbor Day Foundation® who can help ensure that the plantings are done in the appropriate areas and are well taken care of at the proper stages for healthy forest rehabilitation.”

UPM rewarded its employees for good performance by paying EUR 51 million in incentives

UPM's goal is to develop, encourage and reward every employee in their work. UPM paid a total of EUR 51 million as short-term incentives to employees in 2020. The incentives were paid for the good 2019 results and for personal success in one's own work. The figures are outlined in the Annual Report that was published today. Over the last five years, UPM has paid nearly EUR 300 million in incentives to its employees. The incentives are mainly determined by the financial indicators, of which EBITDA is the most important. In addition, every employee can earn one-third of the incentive by the achievement of personal and/or team performance targets. Last year, UPM employees earned on average of 5.6%, or approximately EUR 3,200, additional income from the company's incentive schemes.
Back To Top
×Close search
Search