Mullen Group Ltd. – 2023 Business Plan and Budget

Otoks, Alberta, January 16, 2023 /PR Newswire/ – (TSX: MTL) Mullen Group Ltd. (“Mullen Group“,”we“,”our“and/or”Ltd.“), one of North American The largest logistics provider today announced that its 2023 budget and business plan have been approved by its board of directors (“board”).

Today, we are providing our shareholders and interested investors with an overview of our expectations and priorities for 2023. As we enter the new year, policy changes by banks and regulators add to the uncertainty. Reduce inflationary pressures from current unsustainable levels.We have factored the slowdown in global trade and consumer spending into our plans for this year‘ said Mr. Murray K. MullenSenior Executive Officer and Chairman.

One of the most valuable lessons I’ve learned throughout my career is that predicting future outcomes is dangerous and you should always be prepared for the unexpected. For example, last year the freight market reached a level where the supply chain expanded capacity, causing freight prices to rise as customers struggled to move stranded freight. This combination of strong freight volumes and rising prices contributed to our record performance. By the end of the year, however, supply chain problems began to normalize, cargo demand softened and competition increased.Fourth quarter results are still inconclusive, but early signs are that earnings $500 million, although the margins have get the final result February 9 After the audit is completed.

As we enter 2023, there are signs that higher interest rates are hurting overall economic activity. This is a reality built into budgets and business plans. So it’s reasonable to assume that the 2022 results he won’t be able to reproduce in 2023 with his current business unit. Nonetheless, our diversified business model does not overly impact any particular industry or segment of the economy, providing our organization with the opportunity to have another very successful year. In addition, we have used 2022 to strengthen our balance sheet and put our organization in an excellent position to take advantage of market weakness to gain market share or advance acquisitions.Last year we offered the business unit the opportunity to raise prices, but this year we will focus on costs and pay attention to acquisitions.added Mullen.

2023 Business Plan and Budget Highlights


(one million dollars)


at OIB





less than track




Logistics and warehousing




professional and industrial services




US and International Logistics









Shareholder allotment

One of the key elements of the 2023 Business Plan is to return cash to shareholders through a monthly dividend and share buyback plan. The Board has determined the appropriate allocation for 2023 as follows:

  1. Dividends to Shareholders Consistently Maintained $0.06 per share of common stock each month or $0.72 per common share on an annualized basis.
  2. of March 2023plans to seek approval from the Toronto Stock Exchange to renew its regular course issuer bid (“NCIB“) program. In 2022, the Company will acquire 1,827,483 common shares $22$900,000 at NCIB.


To achieve the operational outcomes outlined in the 2023 Budget, we will establish and focus on the following priorities:

  1. Capital investment: $85 million Environmentally efficient assets under management, excluding corporate acquisitions or investments in facilities, land and buildings.
      1. $70 million: sustaining capital – to improve the business unit
      2. $15 million Sustainability Focused Capital – Continued focus on reducing emissions
  2. Prioritize margin over market share: Work with business units to drive process improvement.
      1. Effective deployment of technology
      2. Optimize business unit operations
      3. Monetization of non-core assets
  3. Pursuing Acquisitions: Act opportunistically to take advantage of synergistic and incremental integration opportunities.
      1. Tuck-ins: Opportunities to increase profitability of existing business units
      2. Strategic: An opportunity to grow your network
  4. Maintain balance sheet flexibility

About Mullen Group Ltd.

Mullen Group is one of them. North American Largest Logistics Provider. Our network of independently operated businesses offers a wide range of services including under-truck, truckload, warehousing, logistics, transshipment, oversize, third-party logistics and specialty haulage. In addition, we offer a wide range of professional services related to the western energy, mining, forestry and construction industries. Canada, including water management, liquid transport, and environmental regeneration. The headquarters provides capital and financial expertise, legal support, technical and systems support, shared services, and strategic planning to independent operations.

The Mullen Group is a public company listed on the Toronto Stock Exchange under the symbol “”.MTL“. Additional information is available on our website at or SEDAR’s company issuer profile at

contact address

Mr Murray K. Mullen Chair, Senior board member president
Mr Richard J. Maloney – Senior Executive Officer
Mr Carson P. Arlacher – Senior Accounting Officer
MS. Joanna K. Scott – Senior Executive Officer

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


Mullen Group makes forward-looking statements and forward-looking information (collectively, the “forward-looking statements”) in this news release that reflect its current beliefs and assumptions and are based on currently available information. may make a statement containing Applicable Securities Laws. This news release may contain forward-looking statements that are subject to risk factors related to the economy as a whole and the oil and gas business. These forward-looking statements relate to future events and future performance of the Mullen Group. All forward-looking statements contained herein that are not manifestly historical in nature constitute forward-looking statements. “predict”, “believe”, “estimate”, “suggest”, “predict”, “may”, “continue”, “aim” or any negative form of these terms or any other Equivalent terms are generally intended to identify forward-looking statements. statement. Such forward-looking statements represent Mullen Group’s internal projections, estimates, expectations, beliefs, plans, objectives, assumptions, intentions or statements regarding future events or performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from those projected by such forward-looking statements. There is a possibility. Mullen Group believes that the expectations reflected in these forward-looking statements are reasonable. However, undue reliance should not be placed on these forward-looking statements. There can be no assurance that the plans, intentions or expectations on which they are based will come to fruition. In particular, forward-looking statements include, but are not limited to: (i) 2023 financial targets and forecasts; (ii) 2023 capital expenditure plans; (iii) 2022 results may not be replicated in 2023 by current business units. (iv) Fourth Quarter Earnings $500 million Margins softened. (v) Our organization has the opportunity to have another very good year. (vi) 2023 Strategic Initiatives. This includes, but is not limited to, potential acquisitions, both strategic and tuck-in. (vii) plans to renew regular course publisher bids; These forward-looking statements are based on Mullen Group’s experience and perceptions of historical trends, current conditions, anticipated future developments and other factors that the Company believes are appropriate under the circumstances. Based on certain assumptions and analysis made by These assumptions include, but are not limited to: (ii) Mullen Group’s business units require capital to support their ongoing operations and growth opportunities and must generate sufficient cash in excess of their financial obligations to support capital expenditures; . (iii) Mullen Group’s expectations of how its current business units will perform in 2023; (iv) Mullen Group’s expectations of current business unit performance for the fourth quarter of 2022; (v) Mullen Group’s view that the Company has diverse business models and is not overly leveraged in any single vertical or segment of the economy; (vi) Mullen Group has sufficient liquidity to pursue synergistic and incremental acquisitions where possible; (vii) Mullen Group will have the opportunity to monetize its non-core assets, deploy its technology and optimize the operations of its business units. (viii) Mullen Group’s plans to renew its regular course publisher tenders are expected to be approved by the regulator. For more information regarding the strategic, financial, operational and other prospects for Mullen Group’s business, please refer to Mullen Group’s Management Discussions and Analysis. Additional information regarding risks that may affect the Mullen Group’s operations or financial results can be found in the 2021 Annual Financial Review under the heading “Key Risks and Uncertainties” beginning on page 69 and in the applicable securities In reports submitted to regulatory authorities. It can be accessed through Mullen Group’s issuer profile on his SEDAR website at Any forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained herein are made as of the date of this news release, and Mullen Group may not make such forward-looking statements, whether as a result of new information, future events, results or otherwise. Disclaims any intent or obligation to publicly update any forward-looking statements. Except as required by applicable Canadian securities laws. The Mullen Group relies on litigation to protect its forward-looking statements.

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