Investor Relations
Building on Our Success
3.5x-4.0x
Leverage Ratio
Target Range
~$2.0 Billion
in Dividends
Paid since 1996
40%-60%
Payout
Sustainable payout ratio allows for investment in growth
Why Invest?
Improving Our Operations and Building Our Future
Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 936,500 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance. With strategically located assets and competitive cost structures, we are well positioned to drive shareholder value through executing on various growth initiatives while providing shareholders an attractive, sustainable dividend with a conservative capital structure.
Total Debt/Adjusted EBITDA(1)(2)(3)(4)(5)(6)
Graph showing the total debt/adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for Superior Plus. The graph begins in 2017 with 3.3x earnings. Earnings for the following years include 4.1x in 2018, 3.7x in 2019, 3.5x in 2020, and 3.9x in 2021.
- (1) Adjusted EBITDA is a non-GAAP measure. Refer to “Non-GAAP Financial Measures” in the 2020 Fourth Quarter Results release for further details and reconciliation.
- (2) Senior secured debt and total debt are stated before deferred issue costs.
- (3) 2020 Adjusted EBITDA for purposes of this calculation includes proceeds received from the issuance of Preferred Shares and Tuck-in acquisitions completed in 2020.
- (4) 2019 Adjusted EBITDA for purposes of this calculation includes Tuck-in acquisitions completed in 2019.
- (5) 2018 Adjusted EBITDA for purposes of this calculation includes proforma adjusted EBITDA for NGL Propane and Tuck-in acquisitions completed in 2018.
- (6) 2017 Adjusted EBITDA for purposes of this calculation includes proforma adjusted EBITDA for Canwest and Tuck-in acquisitions completed in 2017.
We have reduced our debt load through rigorous financial discipline.
Company Snapshot
Common shares outstanding(1) |
249.3 million |
TSX share price(2) |
$9.49 |
Market capitalization(1)(2) |
$2.4 billion |
Enterprise value(1) |
$5.1 billion |
Annual dividend per common share |
$0.72 |
Dividend yield(1)(2) |
7.5% |
EBITDA from operations(3)(5)(7) |
$478.4 million |
Adjusted EBITDA(3)(5)(7) |
$449.8 million |
Debt/Adjusted EBITDA(3)(4)(5)(6)(7) |
4.1x |
(1) As at June 30, 2023.
(2) Share price as at June 30, 2023.
(3) See "Non-GAAP Financial Measures" in the 2022 Annual Report for further details and reconciliation.
(4) Senior secured debt and total debt are stated before deferred issue costs.
(5) TTM Q4 2022.
(6) Q4 2022 Leverage is based on Net Debt to Adjusted EBITDA for the Trailing Twelve Months ended December 31,
2022.
(7) As at December 31, 2022.
Financial Highlights
| millions (except per share amounts) | 2022 | 2021 | Q4 2022 | Q4 2021 |
|---|---|---|---|---|
Revenue |
$3,379.8 |
$2,392.6 |
$1,070.3 |
$824.9 |
Gross profit |
$1,189.8 |
$912.7 |
$429.2 |
$281.9 |
EBITDA from operations(1) |
$478.4 |
$409.9 |
$197.7 |
$143.1 |
Adjusted EBITDA(1) |
$449.8 |
$398.4 |
$182.6 |
$142.2 |
Adjusted operating cash flow before transaction and other costs(1) |
$357.9 |
$321.1 |
$152.8 |
$131.6 |
Dividends declared per common share |
$0.72 |
$0.72 |
$0.18 |
$0.18 |
- (1)
- EBITDA from operations, Adjusted EBITDA and Adjusted operating cash flow are non-GAAP financial measures. Refer to “Non-GAAP Financial Measures” in the 2022 Annual Report for further details and reconciliation.
Investor Contact Information
Investor Relations
Adam Kurnik
Manager, Corporate Finance & Investor Relations
Tel: 416-340-6006
Toll Free: 1-866-490-7587
Email: investor-relations@superiorplus.com
Transfer & Trustee Agent
Computershare Trust Company of Canada
530 - 8 Avenue SW, Suite 600
Calgary, Alberta T2P 3S8
or:
100 University Avenue, 9th Floor
Toronto, Ontario, M5J 2Y1
Telephone: 1-800-564-6253
Fax: 1-888-453-0330
Email inquiries: careregistryinfo@computershare.com
Website: www.computershare.com
Investor Briefcase
The investor briefcase provides an up-to-date snapshot of the financial results, operating performance and latest news at Superior Plus.
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