Supremex Announces Strong Q3 2020 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, 2020.
Third Quarter 2020 Highlights and Recent Event

  • Total revenue increased by 10.4% to $49.9 million, from $45.2 million in the third quarter of 2019.
  • EBITDA1 was up 49.3% to $8.1 million, an increase of $2.7 million, from $5.4 million in the third quarter of 2019. EBITDA includes a $0.9 million of assistance from the Canadian Emergency Wage Subsidy (“CEWS”) program.
  • Net Earnings increased to $2.7 million (or $0.10 per share), from $1.2 million (or $0.04 per share) in the third quarter of 2019.
  • Packaging and Specialty Products segment revenue increased by 18.9% to $15.8 million, up from $13.3 million in the third quarter of 2019.
  • Envelope segment revenue increased by 6.9% to $34.1 million, up from $31.9 million in the third quarter of 2019.
  • Net cash flows from operating activities increased to $7.2 million, up from $3.7 million in the third quarter of 2019.
  • The TSX approved the renewal of the Company’s NCIB allowing for the purchase, for cancellation, of up to 5.0% of its issued and outstanding common shares for a period of twelve months. During the third quarter, the Company purchased 152,900 shares under this program for a total consideration of $200,841.

“We are pleased with our operational and financial results in the third quarter and wish to thank all our employees who continue to work with dedication in these challenging times”, said Stewart Emerson, President & CEO.

“Revenues in the quarter increased 10.4% through a combination of the Royal Envelope acquisition, sustained growth in our U.S. Envelope business and growing e-commerce packaging sales. EBITDA grew by 49.3% notably from synergies generated in our envelope operations, higher e-commerce packaging sales and cost mitigation measures implemented in the context of the ongoing pandemic.”

“Although there remains uncertainty with regards to the full impact of the pandemic on customers and the economy, these results demonstrate the resiliency of our business model and the benefits of our growth and diversification strategy. Looking ahead, we are focused on extracting operational leverage, profitably grow our packaging platform and creating shareholder value,” concluded Mr. Emerson.
more detail at: https://cms.supremex.com/document/873/show

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