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

$50 million Investment in Georgia-Pacific’s Muskogee Mill

Georgia-Pacific recently announced plans to upgrade areas of its 640-acre Muskogee bath tissue, towel and napkin manufacturing operations. The Muskogee Mill has proposed investments of more than $50 million during the next three years to improve the safety, reliability and efficiency of operations, in addition to the investment of a new production line and equipment. “These investments will help Georgia-Pacific continue our focus on transforming manufacturing equipment and processes that result in better employee safety, environmental performance, reliability and quality,” said Amy Borovich, Muskogee Mill Facility Leader. “We appreciate the support from all of our Muskogee community partners, including the Muskogee City-County Port Authority, City of Muskogee and the City of Muskogee Foundation.” Georgia-Pacific’s Muskogee Mill employs more than 700 people, making it the largest private employer in the city. The mill makes bath tissue, paper towels and napkins for both retail and away-from-home markets, including such well-known consumer brands as Sparkle®.

Canfor Announces Construction of New State-of-the-Art Greenfield Sawmill in Washington, Georgia

The Board of Directors of Canfor Corporation approved the construction of a new, state-of-the-art sawmill in Washington, Georgia. The new sawmill, which will cost approximately US$120 million and have a production capacity of 275 million board feet, will employ best-in-class mill technology, capitalizing on an excellent fibre resource in the region to produce high-value dimension and specialty lumber products. Strategically located near the Company’s existing glulam facility in Washington and the larger population centers in Athens and Augusta, the new mill will be able to draw on a strong and skilled employee base. Construction will commence in the second quarter of 2018, with the official start-up projected for the third quarter of 2019. At full run rates, assuming 2017 market pricing, the sawmill is forecast to generate annual EBITDA of approximately US$35 million. Click Read More below for additional information.

ANDRITZ to supply four high-speed tissue production lines to Bracell SP Celulose Ltda., Brazil

International technology group ANDRITZ has received an order from Bracell SP Celulose Ltda. to supply four PrimeLineTM W 2000 tissue production lines to its mill located in Lençóis Paulista, São Paulo. Start-up is scheduled for 2024. The four tissue machines are of the type PrimeLineTM W 2000, with a design speed of 2,100 m/min and a working width of 5.68 m. They are equipped with fully cantilevered shoe presses for gentle dewatering and easy maintenance and 18 ft. steel Yankees with steam-heated hoods for energy-efficient drying. The new tissue mill will be self-sufficient in steam and electricity consumption for the drying process, making it one of the tissue mills with the smallest CO2 footprint in the world.
Back To Top
×Close search
Search