September 21, 2023

Revista Comunico Logia

The News Headline

Mullen Group Ltd. – 2023 Enterprise Plan and Price range

Mullen Group Ltd. – 2023 Enterprise Plan and Price range

OKOTOKS, AB, Jan. 16, 2023 /CNW/ – (TSX: MTL)  Mullen Group Ltd. (“Mullen Group“, “We“, “Our” and/or the “Company“), one in all North America’s largest logistics suppliers introduced right this moment that the finances and marketing strategy for 2023 has been authorised by the Board of Administrators (“Board“). 

Immediately we offer our shareholders and buyers with an overview of our expectations and priorities for 2023.  As we enter the brand new 12 months there’s a greater degree of uncertainty as a result of coverage adjustments by banking and regulatory authorities, as they try to gradual financial progress and produce inflationary pressures down from the present unsustainable ranges.  We’ve got factored a slowdown in international commerce and client spending into this 12 months’s plan,” commented Mr. Murray Ok. Mullen, Senior Government Officer and Chair.

All through my profession one of the crucial worthwhile classes I’ve realized is that predicting future outcomes is dangerous and one ought to at all times be ready for the surprising.  Final 12 months, for instance, the freight market reached ranges that stretched provide chain capacities, leading to greater freight costs as prospects struggled to maneuver stranded freight.  This mix of sturdy freight volumes and pricing will increase was a contributing think about our report outcomes.  By the top of the 12 months, nonetheless, the availability chain points started to normalize, freight demand softened, and competitors intensified.  And whereas we’ve not finalized our fourth quarter outcomes, early indications recommend revenues will attain $500.0 million, though margins have softened.  The ultimate outcomes might be accessible February ninth after the audit has been accomplished.

Getting into 2023 there are indicators that greater rates of interest are taking a toll on total financial exercise, a actuality we’ve integrated into our finances and marketing strategy.  As such, it’s affordable to imagine that our 2022 outcomes can’t be replicated in 2023 by our present Enterprise Models.  Nonetheless, in our diversified enterprise mannequin we’re not overly leveraged to any single vertical or section within the financial system, offering our group with a chance to have one other excellent 12 months.  Moreover, we used 2022 to strengthen the steadiness sheet, putting our group in a superb place to make the most of weak spot within the markets to realize market share or pursue acquisitions.  Final 12 months supplied our Enterprise Models with the chance to lift costs, this 12 months we are going to concentrate on prices and be on the look out for acquisitions,” added Mr. Mullen.


Price range


($ hundreds of thousands)







   Much less-Than-Truckload




   Logistics & Warehousing




   Specialised & Industrial Providers




   U.S. & Worldwide Logistics









Shareholder Allocation

One of many important parts of our 2023 Enterprise Plan is to return money to shareholders by the use of month-to-month dividends and a share buyback plan.  The Board has decided that the suitable allocation for 2023 might be:

  1. Dividends to shareholders will stay constant at $0.06 per Widespread Share every month or $0.72 per Widespread Share on an annualized foundation.  
  2. In March 2023, we intend on requesting approvals from the Toronto Inventory Alternate to resume the traditional course issuer bid (“NCIB“) program.  In 2022, we repurchased 1,827,483 Widespread Shares for $22.9 million below the NCIB. 


With a view to obtain the working outcomes outlined within the 2023 Price range, we’ve established and might be specializing in the next priorities:

  1. Capital Investments: $85.0 million in environmental and environment friendly working property, unique of company acquisitions or funding in amenities, land and buildings.
      1. $70.0 million: Upkeep Capital – to enhance our Enterprise Models
      2. $15.0 million Sustainability Centered Capital – continued concentrate on emission discount
  2. Prioritize Margin over Market Share: work with Enterprise Models to drive course of enhancements.
      1. Efficient Deployment of Expertise
      2. Optimize Operations of the Enterprise Models
      3. Monetize Non-Core Belongings
  3. Pursue Acquisitions: be opportunistic with consolidation alternatives which might be synergistic and accretive.
      1. Tuck-ins: alternatives that make our current Enterprise Models extra worthwhile
      2. Strategic: alternatives to broaden our community
  4. Preserve Steadiness Sheet Flexibility

About Mullen Group Ltd.

Mullen Group is one in all North America’s largest logistics suppliers.  Our community of independently operated companies present a variety of service choices together with less-than-truckload, truckload, warehousing, logistics, transload, outsized, third-party logistics and specialised hauling transportation.  As well as, we offer a various set of specialised companies associated to the power, mining, forestry and building industries in western Canada, together with water administration, fluid hauling and environmental reclamation.  The company workplace supplies the capital and monetary experience, authorized assist, know-how and programs assist, shared companies and strategic planning to its impartial companies.

Mullen Group is a publicly traded company listed on the Toronto Inventory Alternate below the image “MTL“.  Further info is offered on our web site at or on the Company’s issuer profile on SEDAR at

Contact Data

Mr. Murray Ok. Mullen  Chair, Senior Government Officer and President
Mr. Richard J. Maloney – Senior Working Officer
Mr. Carson P. Urlacher – Senior Accounting Officer
Ms. Joanna Ok. Scott – Senior Company Officer

121A 31 Southridge Drive
Okotoks, Alberta, Canada   T1S 2N3
Phone:  403-995-5200
Fax:  403-995-5296


Mullen Group could make statements on this information launch that replicate its present beliefs and assumptions and are based mostly on info at present accessible to it and comprises forward-looking statements and forward-looking info (collectively, “forward-looking statements”) inside the that means of relevant securities legal guidelines.  This information launch could include forward-looking statements which might be topic to danger elements related to the general financial system and the oil and pure gasoline enterprise.  These forward-looking statements relate to future occasions and Mullen Group’s future efficiency.  All ahead wanting statements contained herein that aren’t clearly historic in nature represent forward-looking statements, and the phrases “could”, “will”, “ought to”, “might”, “count on”, “plan”, “intend”, “anticipate”, “imagine”, “estimate”, “suggest”, “predict”, “potential”, “proceed”, “purpose”, or the destructive of those phrases or different comparable terminology are typically supposed to establish forward-looking statements.  Such forward-looking statements characterize Mullen Group’s inside projections, estimates, expectations, beliefs, plans, targets, assumptions, intentions or statements about future occasions or efficiency.  These forward-looking statements contain identified or unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements.  Mullen Group believes that the expectations mirrored in these forward-looking statements are affordable; nonetheless, undue reliance shouldn’t be positioned on these forward-looking statements, as there could be no assurance that the plans, intentions or expectations upon which they’re based mostly will happen.  Specifically, forward-looking statements embody however should not restricted to the next: (i) our monetary objectives and expectations for 2023; (ii) our capital expenditure plans for 2023; (iii) our 2022 outcomes can’t be replicated in 2023 by our present Enterprise Models; (iv) our fourth quarter revenues will attain $500.0 million though margins have softened; (v) our group has a chance to have one other excellent 12 months; (vi) our strategic initiatives for 2023 together with however not restricted to potential acquisitions each strategic and tuck-in; and (vii) our plan to resume our regular course issuer bid.  These forward-looking statements are based mostly on sure assumptions and evaluation made by Mullen Group in gentle of our expertise and our notion of historic traits, present circumstances, anticipated future developments and different elements we imagine are applicable below the circumstances.  These assumptions embody however should not restricted to the next: (i) Mullen Group will generate ample money in extra of our monetary obligations to assist the dividend; (ii) Mullen Group’s Enterprise Models would require capital to assist their ongoing operations and progress alternatives and that we’ll generate ample money in extra of our monetary obligations to assist the capital expenditures; (iii) Mullen Group’s expectation as to how our present Enterprise Models will carry out in 2023; (iv) Mullen Group’s expectation as to how our present Enterprise Models carried out in fourth quarter 2022; (v) Mullen Group’s view that we’ve a diversified enterprise mannequin and we’re not overly leveraged to any single vertical or section within the financial system; (vi) Mullen Group may have ample liquidity to pursue acquisitions which might be synergistic and accretive, if accessible; (vii) Mullen Group may have a chance to monetize non-core property, deploy know-how and optimize operations of our Enterprise Models; and (viii) Mullen Group’s plan to resume its regular course issuer bid might be authorised by regulatory authorities.  For additional info on any strategic, monetary, operational and different outlook on Mullen Group’s enterprise please seek advice from Mullen Group’s Administration’s Dialogue and Evaluation accessible for viewing on Mullen Group’s issuer profile on SEDAR at  Further info on dangers that would have an effect on the operations or monetary outcomes of Mullen Group could also be discovered below the heading “Principal Dangers and Uncertainties” beginning on web page 69 of the 2021 Annual Monetary Evaluate in addition to in stories on file with relevant securities regulatory authorities and could also be accessed via Mullen Group’s issuer profile on the SEDAR web site at  The forward-looking statements contained on this information launch are expressly certified by this cautionary assertion.  The forward-looking statements contained herein is made as of the date of this information launch and Mullen Group disclaims any intent or obligation to replace publicly any such forward-looking statements, whether or not because of new info, future occasions or outcomes or in any other case, aside from as required by relevant Canadian securities legal guidelines.  Mullen Group depends on litigation safety for forward-looking statements.

SOURCE Mullen Group Ltd.

Mullen Group Ltd. – 2023 Enterprise Plan and Price range