KP Tissue Products, a prominent Canadian tissue paper specialist, has announced encouraging financial outcomes for the fourth quarter of 2023 and the entire fiscal year.
In a statement released by the company, it was disclosed that KP Tissue recorded revenues totaling approximately $1.873 billion for 2023, marking an impressive surge of 11.4 percent compared to the preceding year.
Dino Bianco, the Chief Executive Officer of KP Tissue, expressed satisfaction with the fiscal performance, emphasizing the achievement of record-breaking sales amounting to $1.9 billion and record Adjusted EBITDA reaching $238.6 million. Bianco attributed this success to various favorable factors, including robust volume, effective margin management amidst ongoing cost fluctuations, and robust operational efficiency across the company's network.
KP Tissue, with a notable 12.9% stake in Kruger Products, described as "Canada's leading manufacturer of quality tissue products for the Consumer market" and serving the Away-From-Home (AFH) sector, continues to expand its footprint in the U.S. Consumer tissue business, particularly through the promotion of the White Cloud brand and premium private label offerings.
These positive financial results underscore KP Tissue's strong position in the market and its ongoing commitment to delivering quality products and sustainable growth.
