KapStone Paper and Packaging Corporation reported 3.7% increase of net sales and 8.5% decrease of Adjusted EBITDA in 1Q2017 y-o-y. According to the announcement, the company’s net sales totaled USD 765.8 million generating USD 80.8 million of the Adjusted EBITDA (10.6% margin) in the period.
Matthew Kaplan, President and Chief Executive Officer, commented:
“While first quarter results were disappointing, we are experiencing exceptional positive momentum. Demand for containerboard, corrugated boxes, and kraft paper is strong. Pricing across our important product lines is rapidly increasing. Our product mix has improved as domestic containerboard and box sales have increased while exports have declined.
Victory Packaging, our distribution business, had a solid first quarter and is entering its seasonally strong portion of the year. Our operations, after a slow start in January and February, are improving. All of these factors combined contributed to a strong March which accounted for about 45 percent of our adjusted quarterly EBITDA and point to an improved second quarter and a strong back half of 2017.”
In 4Q2016 KapStone Paper and Packaging Corporation reported 1.7% increase of net sales and 12.4% of Adjusted EBITDA.
Earlier the company received a Silver Outstanding Merchandising Achievement award in the US.
About KapStone Paper and Packaging:
The company is fifth largest producer of containerboard and corrugated packaging products and is the largest kraft paper producer in the United States. The company has four paper mills, 21 converting plants and 65 distribution centers. Its annual revenues exceed USD 3 billion, the company employs approximately 6,200 people.