Supremex Announces Q3 2021 Results

Supremex Inc. (“Supremex” or the “Company”) (TSX: SXP), a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, today announced its results for the third quarter ended September 30, 2021. The Company will hold a conference call to discuss these results, today at 11:00 a.m. (Eastern Time).

Third Quarter Financial Highlights and Recent Events

  • Total revenue increased by 9.9% to $54.8 million, from $49.9 million in the third quarter of 2020.
  • Envelope segment revenue was up 8.5% to $37.0 million, from $34.1 million in the third quarter of 2020.  Packaging and specialty products segment revenue increased by 12.8% to $17.8 million, from $15.8 million in the third quarter of 2020.
  • EBITDA1 at $8.7 million, up 8.0%, from $8.1 million in the third quarter of 2020.
  • Net Earnings at $3.4 million (or $0.12 per share), up from $2.7 million (or $0.10 per share) in the third quarter of 2020.
  • The Company renewed its Normal Course Issuer Bid (“NCIB”) over a maximum period of 12 months beginning on August 31, 2021 and ending on August 30, 2022.
  • Purchased 292,400 shares for total consideration of $0.7 million as part of the Company’s NCIB program.
  • The Company entered into series of annuity buy-out transactions in order to reduce the risk profile associated with its defined benefit pension plans.
  • Appointed Joe Baglione to the newly created position of President, Envelope, effective November 15, 2021.
  • Appointed Leslie Sutherland to the newly created position of Vice President, People & Culture, effective November 1, 2021.

“We are very pleased with our third quarter performance which included strong sales growth in both segments and the seventh consecutive quarter of year-over-year improvement in adjusted EBITDA. We achieved these results in spite of a negative currency conversion, an extremely tight supply chain for all paper grades and rapidly escalating costs across the board. This is a testament to our product and geographic diversification, the resilience of our business model and a commitment to passing through inflation,” said Stewart Emerson, President & CEO of Supremex.

“Operationally, the integration of Vista Graphic Communications is on track and the new equipment has arrived and is in the process of commissioning. Once complete, this will provide our e-Commerce team with much needed capacity in local US markets in addition to improved efficiencies. Furthermore, to position ourselves for the future, we strengthened our management bench by creating two new senior executive roles namely, President, Envelope and Vice President, People & Culture. These two important roles will immediately support our growth efforts.”
details at: https://cms.supremex.com/document/938/show

Related Posts

Transcontinental Inc. announces transformational acquisition of Coveris Americas, becoming a North American leader in flexible packaging

Coveris Americas is one of the top ten converters of flexible packaging and other value-added products in North America based on revenues for its fiscal year ended December 31, 2017. Headquartered in Chicago, Illinois, Coveris Americas manufactures a variety of flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films, coated substrates and labels. As of December 31, 2017, Coveris Americas operated 21 production facilities worldwide, namely in the Americas, the United Kingdom and Australasia. Coveris Americas has over 3,100 employees, the majority of whom are located in the Americas. For its fiscal year ended December 31, 2017, Coveris Americas generated US$966 million in revenues and US$128 million in Adjusted EBITDA. "Today’s announcement marks a turning point in TC Transcontinental’s 42-year history. This transaction crystallizes our strategic shift toward flexible packaging and solidifies our commitment to profitable growth," said Isabelle Marcoux, Chair of the Board of Transcontinental Inc. "We are convinced that this transformational acquisition will be a driver in the creation of long-term value for all of our stakeholders. It is with pride that we begin the next chapter of our successful journey with Coveris Americas, its employees and customers, building on our values of respect, teamwork, performance and innovation." Click Read More below for additional information.

Taylor Communications to Move Hundreds of Jobs to Downtown Dayton

The Dayton city commission on Wednesday approved a $1 million development agreement with Taylor Communications — formerly Standard Register Co. — to help fund the renovation of the underutilized downtown building at 111 W. First St., the company’s new home come October. As part of the previously discussed deal, Taylor Communications will move roughly 400 to 500 of its local 700 workers to the 111 building, where they will occupy eight floors. The remaining employees will stay on at Taylor’s current location at 600 Albany St. in Dayton’s west side. According to Dayton Business Journal, the $1 million agreement includes $500,000 from the Montgomery County Economic Development/Government Equity program. Another $500,000 will come from the city of Dayton, and Taylor Communications will spend at least $2.4 million on facility improvements, equipment and other items. Click Read More below for more of the story.

Sun Chemical Implements Freight Surcharges in Light of Red Sea Crisis

Sun Chemical will implement selected freight surcharges impacted by the Red Sea crisis globally. Against the backdrop of geopolitical instabilities, maritime transportation through the Suez Canal and Red Sea has been especially severely impacted since November. With around 30% of the world’s container trade shipped via this route, many shipments are facing delays and some are being rerouted via the Cape of Good Hope, significantly increasing the distance travelled and adding further costs and time. Cargo air freight is also seeing a spike in demand to avoid such longer diversions. As a proactive response to these challenges, Sun Chemical is actively monitoring the evolving situation through its extensive global network of partners. The primary objective remains ensuring the continued supply of high-quality products and services to customers. In light of the dynamic nature of the crisis, Sun Chemical is taking necessary steps to secure raw materials and minimise transportation delays.
Back To Top
×Close search
Search