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LOBLAW COMPANIES LIMITED

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Loblaw Orders Five New Battery-Powered Trucks as Part of Fleet Electrification Plan

07/23/2021 | 09:59am EDT

By Adriano Marchese

Canadian food retailer Loblaw Cos. Ltd. has placed an order for new battery-electric freightliners to add to its corporately owned fleet after a successful trial in early 2020.

Loblaw said on Friday that the order is for five Freightliner eCascadia vehicles from Daimler Trucks North America that are expected to be delivered in 2022 and 2023.

The company said it will continue to use the eCascadia from the trial-period fleet for the next three months in and around South Surrey in the province of British Columbia to generate data to inform the development of the vehicles.

Typical routes the eCascadia has been running for the company are primarily transporting grocery and other retail products from the company's distribution center to stores, usually for distances between 160 kilometers to 250 kilometers, it said.

"Over the past few years, we have worked closely with our partners to reach our goal of fully electrifying our corporate fleet by 2030. Our partnership with the Daimler Trucks North America's eMobility group is an important piece in that overall commitment," Vice President, Transport Operations Brian Springer said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

07-23-21 1159ET

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Financials
Sales 2021 52 645 M 41 479 M 41 479 M
Net income 2021 1 338 M 1 054 M 1 054 M
Net Debt 2021 8 743 M 6 889 M 6 889 M
P/E ratio 2021 22,5x
Yield 2021 1,59%
Capitalization 29 551 M 23 289 M 23 283 M
EV / Sales 2021 0,73x
EV / Sales 2022 0,70x
Nbr of Employees 220 000
Free-Float 52,5%
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Number of Analysts 12
Last Close Price 87,43 CAD
Average target price 90,33 CAD
Spread / Average Target 3,32%
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Managers and Directors
Galen G. Weston Executive Chairman, President & CEO
Richard Dufresne Chief Financial Officer
David Markwell Executive VP, Chief Technology & Analytics Officer
Robert Sawyer Chief Operating Officer
Robert Wiebe Chief Administrative Officer
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