Mullen Group Ltd. – 2023 Enterprise Plan and Funds

Mullen Group Ltd. – 2023 Enterprise Plan and Funds

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

At the moment 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 increased stage of uncertainty as a result of coverage modifications by banking and regulatory authorities, as they try to sluggish financial development 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 Govt Officer and Chair.

All through my profession one of the vital helpful classes I’ve realized is that predicting future outcomes is dangerous and one ought to all the time be ready for the sudden.  Final 12 months, for instance, the freight market reached ranges that stretched provide chain capacities, leading to increased freight costs as clients struggled to maneuver stranded freight.  This mixture of robust freight volumes and pricing will increase was a contributing consider our document outcomes.  By the top of the 12 months, nevertheless, the availability chain points started to normalize, freight demand softened, and competitors intensified.  And whereas we now have not finalized our fourth quarter outcomes, early indications counsel revenues will attain $500.0 million, though margins have softened.  The ultimate outcomes will likely be accessible February ninth after the audit has been accomplished.

Getting into 2023 there are indicators that increased rates of interest are taking a toll on total financial exercise, a actuality we now have included into our finances and marketing strategy.  As such, it’s cheap to imagine that our 2022 outcomes can’t be replicated in 2023 by our present Enterprise Items.  However, in our diversified enterprise mannequin we aren’t overly leveraged to any single vertical or phase within the financial system, offering our group with a chance to have one other superb 12 months.  Moreover, we used 2022 to strengthen the stability sheet, putting our group in a wonderful place to benefit from weak point within the markets to realize market share or pursue acquisitions.  Final 12 months offered our Enterprise Items with the chance to lift costs, this 12 months we’ll give attention to prices and be on the look out for acquisitions,” added Mr. Mullen.




($ tens of millions)







   Much less-Than-Truckload




   Logistics & Warehousing




   Specialised & Industrial Companies




   U.S. & Worldwide Logistics









Shareholder Allocation

One of many important elements 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 will likely be:

  1. Dividends to shareholders will stay constant at $0.06 per Frequent Share every month or $0.72 per Frequent Share on an annualized foundation.  

  2. In March 2023, we intend on requesting approvals from the Toronto Inventory Alternate to resume the conventional course issuer bid (“NCIB“) program.  In 2022, we repurchased 1,827,483 Frequent Shares for $22.9 million underneath the NCIB.


To be able to obtain the working outcomes outlined within the 2023 Funds, we now have established and will likely 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.

  2. Prioritize Margin over Market Share: work with Enterprise Items to drive course of enhancements.

  3. Pursue Acquisitions: be opportunistic with consolidation alternatives which can be synergistic and accretive.

  4. Preserve Steadiness Sheet Flexibility

About Mullen Group Ltd.

Mullen Group is certainly one of 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 vitality, 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 help, know-how and programs help, shared companies and strategic planning to its impartial companies.

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

Contact Data

Mr. Murray Ok. Mullen  Chair, Senior Govt 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 might make statements on this information launch that mirror its present beliefs and assumptions and are based mostly on info at the moment accessible to it and comprises forward-looking statements and forward-looking info (collectively, “forward-looking statements”) throughout the which means of relevant securities legal guidelines.  This information launch might comprise forward-looking statements which can be topic to threat components related to the general financial system and the oil and pure fuel 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 “might”, “will”, “ought to”, “may”, “anticipate”, “plan”, “intend”, “anticipate”, “imagine”, “estimate”, “suggest”, “predict”, “potential”, “proceed”, “intention”, or the unfavourable of those phrases or different comparable terminology are typically meant to determine forward-looking statements.  Such forward-looking statements characterize Mullen Group’s inner projections, estimates, expectations, beliefs, plans, goals, assumptions, intentions or statements about future occasions or efficiency.  These forward-looking statements contain identified or unknown dangers, uncertainties and different components 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 cheap; nevertheless, undue reliance shouldn’t be positioned on these forward-looking statements, as there will be no assurance that the plans, intentions or expectations upon which they’re based mostly will happen.  Specifically, forward-looking statements embody however will not be restricted to the next: (i) our monetary targets 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 Items; (iv) our fourth quarter revenues will attain $500.0 million though margins have softened; (v) our group has a chance to have one other superb 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 mild of our expertise and our notion of historic developments, present situations, anticipated future developments and different components we imagine are acceptable underneath the circumstances.  These assumptions embody however will not be restricted to the next: (i) Mullen Group will generate ample money in extra of our monetary obligations to help the dividend; (ii) Mullen Group’s Enterprise Items would require capital to help their ongoing operations and development alternatives and that we are going to generate ample money in extra of our monetary obligations to help the capital expenditures; (iii) Mullen Group’s expectation as to how our present Enterprise Items will carry out in 2023; (iv) Mullen Group’s expectation as to how our present Enterprise Items carried out in fourth quarter 2022; (v) Mullen Group’s view that we now have a diversified enterprise mannequin and we aren’t overly leveraged to any single vertical or phase within the financial system; (vi) Mullen Group can have ample liquidity to pursue acquisitions which can be synergistic and accretive, if accessible; (vii) Mullen Group can have a chance to monetize non-core property, deploy know-how and optimize operations of our Enterprise Items; and (viii) Mullen Group’s plan to resume its regular course issuer bid will likely be accepted by regulatory authorities.  For additional info on any strategic, monetary, operational and different outlook on Mullen Group’s enterprise please discuss with Mullen Group’s Administration’s Dialogue and Evaluation accessible for viewing on Mullen Group’s issuer profile on SEDAR at  Extra info on dangers that would have an effect on the operations or monetary outcomes of Mullen Group could also be discovered underneath the heading “Principal Dangers and Uncertainties” beginning on web page 69 of the 2021 Annual Monetary Assessment in addition to in reviews on file with relevant securities regulatory authorities and could also be accessed by means of 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 on account of new info, future occasions or outcomes or in any other case, apart from as required by relevant Canadian securities legal guidelines.  Mullen Group depends on litigation safety for forward-looking statements.

Mullen Group Ltd. – 2023 Enterprise Plan and Funds


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