Kruger Products reported strong financial performance in the third quarter of 2025, driven by higher sales volumes, favourable pricing and continued momentum in both the Consumer and Away-From-Home (AFH) segments.
KP Tissue Inc. (KPT), which holds a 12.1% interest in Kruger Products, released the results on November 13.
Revenue reached $561.1 million, up 7.7% from the same period last year, supported by increased demand in the Consumer category and improved pricing across both segments. Adjusted EBITDA rose 30.4% year-over-year to $85.7 million, reflecting lower pulp costs, reduced freight rates and stronger volume.
Net income declined to $14.6 million, mainly due to foreign exchange losses, higher taxes and increased depreciation related to recent capital projects, partly offset by improved operating performance.
CEO Dino Bianco highlighted continued market share gains, particularly in paper towels and facial tissue. “We accelerated profitable sales growth in the third quarter of 2025, resulting in Adjusted EBITDA improving 30.4% year-over-year,” he said.
The AFH segment also posted year-over-year and sequential improvements, with strong commercial-market performance from brands including Scotties and Cashmere. Expanded in-sourcing of paper contributed to double-digit Adjusted EBITDA growth for the division.
Kruger Products expects fourth-quarter Adjusted EBITDA to be in line with Q3.
KPT reported net income of $1.5 million, including its share of Kruger Products’ earnings, a dilution gain and depreciation adjustments.
As of September 30, total liquidity stood at $388.6 million.
The KPT Board declared a quarterly dividend of $0.18 per share, payable January 15, 2026.
KP Tissue Inc. (KPT) was created to acquire and hold an equity interest in Kruger Products Inc., and its activities are limited to this investment role. KPT currently owns a 12.1% interest in Kruger Products, which it accounts for using the equity method.
Kruger Products Inc. is a major North American manufacturer of tissue products for household, commercial and industrial use. The company serves consumers with brands such as Cashmere, Purex, SpongeTowels, Scotties, White Swan and Bonterra in Canada, and produces White Cloud and private label tissue products in the United States. Kruger Products operates approximately 3,000 employees across ten FSC® COC-certified production facilities.
Source: KP Tissue
