Business
KP Tissue Releases its Financial Results and those of Kruger Products L.P. for the Third Quarter of 2013 and Declares Quarterly Dividend
/NOT FOR DISTRIBUTION IN THE U.S.A. OR OVER U.S. WIRE SERVICES/ MISSISSAUGA, ON , Nov...
About this update from Kp Tissue, Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION IN THE U.S.A. OR OVER U.S. WIRE SERVICES/\n\n\nMISSISSAUGA, ON, Nov. 13, 2013 /CNW Telbec/ - KP Tissue Inc. (\"KPT\")\n (TSX: KPT), which holds a limited partnership interest in Kruger\n Products L.P. (\"KPLP\"), releases the financial results for KPT and KPLP\n for the third quarter of 2013. KPLP is Canada's leading manufacturer of\n quality tissue products for household and commercial use.\n\n\nKP Tissue Inc. and Kruger Products L.P.\nKPT was created to acquire, and its business is limited to holding, a\n limited partnership interest in KPLP. As of September 29, 2013, KPT\n held a 16.8% interest in KPLP, accounted for as an investment on the\n equity basis. The financial results presented for KPT represent its\n holding in KPLP during the third quarter of 2013. The following\n discussion and analysis, unless identified specifically as representing\n the financial results of only KPT, relates entirely to the financial\n results of KPLP. Accordingly, the results of KPLP apply to KPT only to\n the extent of its holding in KPLP.\n\n\nOn October 15, 2013, KPLP paid a distribution to its partners. Following\n the reinvestment by the partners of KPLP of a portion of such\n distribution pursuant to KPLP's distribution reinvestment plan, KPT\n held a 16.7% interest in KPLP.\n\n\nKPLP Highlights\n\n\nQ3 2013 Highlights\n\n\n\nContinued to expand overall market share in Canada and maintained our\n number one position\n\n\nTAD Project progressing well, EBITDA contribution of $1.7 million in the\n quarter\n\n\nRevenue of $243.8 million in Q3 2013, compared to $232.4 million in Q3\n 2012, an increase of 4.9 percent year over year\n\n\nEBITDA of $31.1 million in Q3 2013 compared to $31.3 million in Q3 2012,\n a decrease of 0.6 percent year over year\n\n\n\n\n\n\"Third quarter results were solid, highlighted by EBITDA of $31.1\n million. We were able to build on the momentum we generated with the\n successful promotional activities we undertook in the Canadian consumer\n market during the second quarter of 2013 and to further increase our\n overall market share,\" said Mario Gosselin, CEO of KP Tissue and KPLP.\n\n\n\"The TAD project is progressing well, with capacity ramp-up and product\n quality meeting or exceeding expectations. After two quarters of full\n TAD operations, we are happy to report positive EB...