January 29, 2015 4:21 PM ET

Food Products

Company Overview of Maple Leaf Foods Inc.

Company Overview

Maple Leaf Foods Inc. operates as a food processing company. It operates through three segments: Meat Products Group, Agribusiness Group, and Bakery Products Group. The Meat Products Group segment provides prepared meats, lunch kits, and protein snacks, as well as fresh pork, poultry, and turkey products. This segment sells its products to retail, foodservice, industrial, and convenience channels. The Agribusiness Group segment produces hogs. The Bakery Products Group segment offers fresh and frozen bakery products, including breads, rolls, bagels, frozen par-baked products, and specialty and artisan breads. This segment sells its products to retail, foodservice, and convenience channels und...

30 St. Clair Avenue West

Suite 1500

Toronto, ON M4V 3A2

Canada

18,000 Employees

Phone:

416-926-2000

Fax:

416-926-2018

Key Executives for Maple Leaf Foods Inc.

Chief Executive Officer
Age: 55
Total Annual Compensation: $1.0M
Chief Operating Officer
Total Annual Compensation: $677.7K
President of Agribusiness Group and Chief Operating Officer of Agribusiness Group
Age: 57
Total Annual Compensation: $685.3K
Compensation as of Fiscal Year 2013.

Maple Leaf Foods Inc. Key Developments

Maple Leaf Foods to Close Winnipeg Plant Permanently

Maple Leaf Foods announced that one of the three plants previously identified for closure next year will be shut permanently on Dec. 31, 2014 and the other two will close by the end of March 2015. The company's plant on Panet Road in Winnipeg will be the sixth closure under a multi-year reorganization. The company said the plant has about 30 employees. Some will move to Maple Leaf's expanded Lagimodiere plant, also in Winnipeg, or elsewhere in the company while others will leave or retire. The Lagimodiere plant is fully commissioned and requires only minimal work to optimize its operation. Production of the "Hot Rods"' sausage snacks made at the surplus Winnipeg plant has been moved to a Maple Leaf operation in Saskatoon.

Maple Leaf Foods Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Impairment of Assets for the Third Quarter

Maple Leaf Foods Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported sales of CAD 820,097,000 compared to CAD 757,848,000 a year ago. Loss before interest and income taxes from continuing operations were CAD 32,182,000 compared to CAD 14,663,000 a year ago. Loss before income taxes from continuing operations were CAD 34,682,000 compared to CAD 33,409,000 a year ago. Loss from continuing operations were CAD 26,671,000 or CAD 0.19 per diluted share compared to CAD 24,474,000 or CAD 0.18 per diluted share a year ago. Net loss attributable to common shareholders were CAD 26,767,000 or CAD 0.19 per diluted share compared to net earnings attributable to common shareholders of CAD 12,955,000 or CAD 0.09 per diluted share a year ago. Cash provided by operating activities was CAD 31,429,000 compared to CAD 118,378,000 a year ago. Additions to long term-assets were CAD 48,015,000 compared to CAD 108,076,000 a year ago. Capital expenditures were CAD 41,678,000 compared to CAD 108,076,000 a year ago. Adjusted operating loss was CAD 19,830,000 compared to CAD 20,298,000 a year ago. Adjusted loss per share was CAD 0.13 compared to CAD 0.19 a year ago. For the nine months, the company reported sales of CAD 2,363,234,000 compared to CAD 2,206,466,000 a year ago. Loss before interest and income taxes from continuing operations were CAD 128,645,000 compared to earnings of CAD 80,957,000 a year ago. Loss before income taxes from continuing operations were CAD 256,888,000 compared to CAD 132,351,000 a year ago. Loss from continuing operations were CAD 190,821,000 or CAD 1.35 per diluted share compared to CAD 93,483,000 or CAD 0.67 per diluted share a year ago. Net earnings attributable to common shareholders were CAD 738,119,000 or CAD 5.25 per diluted share compared to net loss attributable to common shareholders of CAD 4,436,000 or CAD 0.03 per diluted share a year ago. Cash used in operating activities were CAD 377,783,000 compared to cash provided by operating activities of CAD 213,051,000 a year ago. Additions to long term-assets were CAD 223,946,000 compared to CAD 273,508,000 a year ago. Capital expenditures were CAD 202,059,000 compared to CAD 273,508,000 a year ago. Adjusted operating loss was CAD 61,808,000 compared to CAD 80,427,000 a year ago. Adjusted loss per share was CAD 0.49 compared to CAD 0.66 a year ago. For the quarter, impairment of assets amounted to CAD 889,000 compared to CAD 115,000 a year ago.

Ms. Jean Fraser Joins Maple Leaf Foods Board of Directors

Maple Leaf Foods announced that Ms. Jean M. Fraser has been appointed to the company's Board of Directors, effective immediately. Ms. Fraser is a highly regarded expert in the area of corporate governance and brings significant diverse business experience to the Maple Leaf Board. She has been a partner at Osler, Hoskin & Harcourt LLP, Toronto since 1993, where she is a leading advisor in guiding boards and management of prominent public companies on business and corporate governance matters.

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