Mullen Group Ltd. – 2023 Enterprise Plan and Finances
Business plans

Mullen Group Ltd. – 2023 Enterprise Plan and Finances

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

At this time we offer our shareholders and buyers with an overview of our expectations and priorities for 2023.  As we enter the brand new yr there’s a increased stage of uncertainty resulting from 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 factored a slowdown in world commerce and client spending into this yr’s plan,” commented Mr. Murray Okay. Mullen, Senior Government Officer and Chair.

All through my profession one of the vital worthwhile classes I’ve realized is that predicting future outcomes is dangerous and one ought to all the time be ready for the sudden.  Final yr, 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 file outcomes.  By the top of the yr, 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 counsel revenues will attain $500.0 million, though margins have softened.  The ultimate outcomes can be out there February ninth after the audit has been accomplished.

Coming into 2023 there are indicators that increased rates of interest are taking a toll on general financial exercise, a actuality we’ve included into our funds 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 section within the economic system, offering our group with a possibility to have one other superb yr.  Moreover, we used 2022 to strengthen the stability sheet, inserting our group in a wonderful place to make the most of weak spot within the markets to achieve market share or pursue acquisitions.  Final yr offered our Enterprise Items with the chance to boost costs, this yr we’ll concentrate on prices and be on the look out for acquisitions,” added Mr. Mullen.




($ thousands and thousands)







   Much less-Than-Truckload




   Logistics & Warehousing




   Specialised & Industrial Companies




   U.S. & Worldwide Logistics









Shareholder Allocation

One of many most important elements of our 2023 Enterprise Plan is to return money to shareholders by means of month-to-month dividends and a share buyback plan.  The Board has decided that the suitable allocation for 2023 can 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 conventional course issuer bid (“NCIB“) program.  In 2022, we repurchased 1,827,483 Widespread Shares for $22.9 million beneath the NCIB. 


With a purpose to obtain the working outcomes outlined within the 2023 Finances, we’ve established and can 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 Items
      2. $15.0 million Sustainability Centered Capital – continued concentrate on emission discount
  2. Prioritize Margin over Market Share: work with Enterprise Items to drive course of enhancements.
      1. Efficient Deployment of Expertise
      2. Optimize Operations of the Enterprise Items
      3. Monetize Non-Core Belongings
  3. Pursue Acquisitions: be opportunistic with consolidation alternatives which can be synergistic and accretive.
      1. Tuck-ins: alternatives that make our present Enterprise Items extra worthwhile
      2. Strategic: alternatives to increase our community
  4. Preserve Stability Sheet Flexibility

About Mullen Group Ltd.

Mullen Group is one among 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 providers associated to the power, mining, forestry and development industries in western Canada, together with water administration, fluid hauling and environmental reclamation.  The company workplace gives the capital and monetary experience, authorized assist, know-how and programs assist, shared providers and strategic planning to its unbiased companies.

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

Contact Info

Mr. Murray Okay. Mullen  Chair, Senior Government Officer and President
Mr. Richard J. Maloney – Senior Working Officer
Mr. Carson P. Urlacher – Senior Accounting Officer
Ms. Joanna Okay. 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 mirror its present beliefs and assumptions and are primarily based on info at the moment out there to it and incorporates forward-looking statements and forward-looking info (collectively, “forward-looking statements”) inside the that means of relevant securities legal guidelines.  This information launch could comprise forward-looking statements which can be topic to threat components related to the general economic system and the oil and pure gasoline enterprise.  These forward-looking statements relate to future occasions and Mullen Group’s future efficiency.  All ahead trying 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”, “consider”, “estimate”, “suggest”, “predict”, “potential”, “proceed”, “purpose”, or the adverse of those phrases or different comparable terminology are typically supposed to determine forward-looking statements.  Such forward-looking statements signify Mullen Group’s inside projections, estimates, expectations, beliefs, plans, targets, assumptions, intentions or statements about future occasions or efficiency.  These forward-looking statements contain recognized or unknown dangers, uncertainties and different components which 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; 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 primarily based 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 possibility to have one other superb yr; (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 primarily based on sure assumptions and evaluation made by Mullen Group in gentle of our expertise and our notion of historic developments, present situations, anticipated future developments and different components we consider are applicable beneath the circumstances.  These assumptions embody however will not be restricted to the next: (i) Mullen Group will generate enough money in extra of our monetary obligations to assist the dividend; (ii) Mullen Group’s Enterprise Items would require capital to assist their ongoing operations and progress alternatives and that we are going to generate enough money in extra of our monetary obligations to assist 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’ve a diversified enterprise mannequin and we aren’t overly leveraged to any single vertical or section within the economic system; (vi) Mullen Group can have ample liquidity to pursue acquisitions which can be synergistic and accretive, if out there; (vii) Mullen Group can have a possibility 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 can be accepted by regulatory authorities.  For additional info on any strategic, monetary, operational and different outlook on Mullen Group’s enterprise please consult with Mullen Group’s Administration’s Dialogue and Evaluation out there 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 beneath the heading “Principal Dangers and Uncertainties” beginning on web page 69 of the 2021 Annual Monetary Overview in addition to in experiences 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, 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 Finances