Supremex Announces Strong Q2 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 second quarter ended June 30, 2021. The Company will hold a conference call to discuss these results, today at 11:00 a.m. (Eastern Time).

Second Quarter Financial Highlights and Recent Events

  • Total revenue increased by 8.7% to $51.8 million, from $47.7 million in the second quarter of 2020.
  • Envelope segment revenue was up 7.6% to $35.2 million, from $32.8 million in the second quarter of 2020.
  • Packaging and specialty products segment revenue increased by 11.1% to $16.6 million, from $14.9 million in the second quarter of 2020.
  • EBITDA1 at $8.6 million, up 24.1%, from $6.9 million in the second quarter of 2020. EBITDA margins stood at 16.5%, up from 14.5%.
  • Net Earnings at $3.4 million (or $0.12 per share), up from $1.9 million (or $0.07 per share) in the second quarter of 2020.
  • Recorded $0.8 million of assistance from the Canada Emergency Wage Subsidy (“CEWS”) program.
  • Purchased 488,100 shares for total consideration of $1.1 million as part of the Company’s Normal Course Issuer Bid (‘’NCIB’’).
  • Mary Chronopoulos was appointed CFO and Corporate Secretary effective May 31, 2021.

“This marks our sixth consecutive quarter of year-over-year improvement in adjusted EBITDA profitability. I believe that this strong financial performance, combined with our sustained growth in the US envelope and packaging markets, demonstrate the resiliency of our business and future potential of our diversification strategy,” said Stewart Emerson, President & CEO of Supremex.

“This quarter’s profitability was supported by our ability to swiftly implement price increases to offset rapidly rising input costs, extract synergies from our envelope platform and achieve further efficiency improvements in our folding carton business, the later benefiting notably from the recovery in the cosmetics and beauty channel.”

“Looking ahead, considering growth opportunities available in the packaging industry, we will continue to prioritize the allocation of capital towards our growth and diversification strategy. In order to deliverer additional short-term value, the Company also intends to renew its share repurchase plan,” concluded Mr. Emerson
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