The Company ended the fourth quarter of 2025 with sales of $1.197 billion, adjusted EBITDA of $155 million and net earnings of $37 million, while lowering its net debt to $1.896 billion.
For the full year, Cascades reported sales of $4.776 billion, up from $4.701 billion in 2024, operating income of $235 million compared with $95 million a year earlier, and net earnings of $0.70 per share versus a net loss of $0.31 per share in 2024.
Hugues Simon, President and Chief Executive Officer of CascadesCascades released its unaudited financial results for the fourth quarter, and the year ended December 31, 2025. The results reflect a clear improvement in operating and financial performance, in a context marked by structuring actions aimed at optimizing the business portfolio and strengthening financial discipline.
In the fourth quarter, packaging activities delivered performance in line with management’s expectations, supported by lower production costs, favorable conditions for certain raw materials and sustained production levels at several facilities. In comparison, the tissue papers segment did not meet the targets set, penalized by execution issues and by an unexpected electrical breakdown at one of the mills, which affected volumes, logistics efficiency and generated additional operating costs.
“Overall, consolidated fourth-quarter results met our sequential forecast and we continued to reduce our debt,” said Hugues Simon, President and Chief Executive Officer.
A strategic refocus reflected in the numbers
As we reported on February 5, 2026, Cascades withdrew from its honeycomb paperboard and partition packaging businesses, a decision that led to the closure of three plants in North America. This initiative is part of a broader effort to refocus assets and optimize operations, launched during the year and now beginning to produce tangible financial results.
The Company states that it has exceeded its target for monetizing redundant assets ahead of the initially planned deadline reinforcing its financial flexibility.
Capital spending remained disciplined in 2025 and is expected to increase in 2026 as Cascades continues to reduce leverage.
Founded in 1964, Cascades operates more than 60 facilities across North America and employs over 9,000 people, providing packaging, hygiene, and recovery solutions.
Source: Cascades
