Investor Presentaiton
2022 - 2024 Strategic Plan: Financial Targets
Focused on free cash flow generation + maintaining financial flexibility
1
Revenue:
~$5.0 B+ in 2024
OIBD4
~11% -13% in 2022
2
Margin:
~13% -15% in 2024
Financial
Targets
CAPEX5:
3
4
Free cash
flow2,3.
(1) Does not include any new converting facility investments
in Containerboard
(2) Defined as EBITDA - Capex
(3) Interests, cash tax, working capital, leases payments,
dividends paid to non-controlling interests and other cash
flow items requirements are estimated at ±$200M/year.
(4) Please click here and here for supplemental information
on non-IFRS measures and other financial measures.
(5) 2022 CAPEX revised to $450M - $470M including $310 M
- $330 M for Bear Island project.
5
Shareholder
Return:
6
Net debt/
OIBD4:
~ $415 M in 2022 (incl. $275M for Bear Island)
~
4% of revenue in 2023 2024
~9%-11% of revenue, following
completion of Bear Island project
Maintain current dividend and NCIB;
review both after 2022
2.5x-3.0x by the end of 2022;
maintain at 2.0x - 2.5x by the end of 2024
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