Janus International Group, Inc. · NYSE:JBI
Janus International — Investor Presentation (March 2022)
37 slides from Janus International's investor presentation, Mar 28, 2022
Slide 1: Investor Presentation March 2022
Investor Presentation March 2022 1
Slide 2: Use of Projections and Financial Information and Forward-Looking Statements
Use of Projections and Financial Information and Forward-Looking Statements Certain statements in this communication, including the estimated guidance provided under “Financial Performance” herein, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act
Slide 3: Today's Presenters
Today’s Presenters ● Joined Janus in 2002 ● Seasoned self-storage executive with deep customer relationships ● Previously served as regional sales manager at DBCI and Atlas as well as VP of Sales & Marketing at Janus ● Established track record of achieving strategic growth Ramey Jackson Chief Execut
Slide 4: Market leader in Custom Building Product Solutions and Access Control Technologies
We are a market leader in Custom Building Product Solutions and Access Control Technologies for the Self-Storage and Commercial Industrial markets 4
Slide 5: Agenda
Agenda • Overview of Janus • Why We Win • Our Growth Strategy • Financial Performance 1 2 4 3 5
Slide 6: Overview of Janus
Overview of Janus 6
Slide 7: Janus at a Glance
Proven Management TeamBest-in-Class Operating Platform Superior Customer Value PropositionLeader in Attractive Markets Janus at a Glance >20% Average Annual Revenue Growth Since 2010 (2) >10,000 Active Customers ~20% Adj. EBITDA Margins ~96% Free Cash Flow Conversion (3) >50% Estimated Share in Fast
Slide 8: What We Do: Turnkey Building Products Solutions for Self-Storage
Access Control (Nokē) Industry leading technology New construction and retrofit Recurring revenue Restore, Rebuild, Replace Conversions and expansions Remix to optimize economics Renovate to refresh / rebrand Construction Industry leading self-storage products Speed and certainty of
Slide 9: What We Do: Global Supplier of Commercial Door Solutions
What We Do: Global Supplier of Commercial Door Solutions Source: Janus Management Rolling Steel Doors • Commercial applications • Pre-engineered buildings Applications • Serving this market since 2002 • Developed both organically and through M&A Key Highlights • Applications demanding greater durabi
Slide 10: We Serve a Broad Range of Customers Across Our Markets
Self-Storage Institutional Facilities Non-Institutional Facilities We Serve a Broad Range of Customers Across Our Markets Source: Janus Management Note: Revenue breakdown as of FY2021 New Construction 38% Restore, Rebuild, Replace (“R3”) 30% Commercial 32% 10 Commercial New Construction 38% Commerci
Slide 11: Why We Win
Why We Win
Slide 12: Our Winning Formula
Our Winning Formula • Market Leadership in Attractive Markets • Superior Customer Value Proposition • Best-in-Class Operating Platform • Proven Management Team 1 2 4 3 ● Scaled leader in the attractive, high-growth Self-Storage and Commercial Door markets ● Structural tailwinds continue to support l
Slide 13: Market Leader in Turnkey Building Product Solutions
Self Storage (1) Market Leader in Turnkey Building Product Solutions Purpose-built over ~20 years as a differentiated solutions provider to self-storage… now replicating the playbook in commercial Sources: Industry Consultants, Industry Reports, and Management Estimates Notes: 1. Management estimate
Slide 14: Our Self-Storage and Commercial Markets are Attractive and Growing
Our Self-Storage and Commercial Markets are Attractive and Growing Demand Trends Rising GDP in the US and Janus’ select international markets Increasing customer base and population density across MSAs Higher “storable” per capita consumption results in more physical goods per person Millenn
Slide 15: Tight Self-Storage Market Driving a Need for Investment in Capacity
Tight Self-Storage Market Driving a Need for Investment in Capacity Janus is positioned to benefit from paths operators are expected to take to alleviate current utilization constraints Self-Storage Capacity is Tight Janus Positioned to Grow with Operator CapacityAdditions BuildCapacity Addition Opt
Slide 16: Provider of Mission Critical Self-Storage Solutions
Provider of Mission Critical Self-Storage Solutions Note: 1. Value-added sales include material, freight, and installation sales; material only includes material and freight sales. 40% 25% 10% 15% 5-10% Structure / Building Labor Interior Systems & Components Other (e.g., Paving) Roofing Operators P
Slide 17: End-to-End Customer Solutions for Self-Storage
End-to-End Customer Solutions for Self-Storage 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Nokē One – 2020 Rollout (Exterior Solution) Nokē Volt – 2017 Rollout (Interior Solution) 16 17 Mezzanine Systems Hallway Systems Hardware & Accessories 6 87 Swing Doors4 Movable Additional Storage Structures5 In
Slide 18: Nokē is Re-Defining Facility Management Through Wireless Solutions
Nokē is Re-Defining Facility Management Through Wireless Solutions Nokē Overview 2018 Acquisition of Nokē by Janus First mover in Security-as-a-Service 2014 Nokē founded in Utah ~25 Full-time Software Developers on Staff Significant Untapped IoT Opportunity Self-storage Cell Towers Hospitality Shipp
Slide 19: Full Lifecycle Partner
Full Lifecycle Partner ` ` ` Restore, Rebuild, Replace (R3) Construction Facility planning Access Control Integrated in customer planning cycles Delivers design consultation and industry-leading architectural network Critical to optimizing unit economics Industry leading self-storage product
Slide 20: Global Manufacturing and Installation Capabilities
Global Manufacturing and Installation Capabilities Nationwide manufacturing and installation network enables Janus to be “local” to its customers Scaled Operating Platform North America Europe Australia Janus’ current manufacturing and distribution footprint enables the company to serve customers gl
Slide 21: Our Growth Strategy
Our Growth Strategy
Slide 22: Strong Track Record of Value Creation
We Have a Strong Track Record of Value Creation Note: 1. Acquired revenue reflects LTM revenue at time of acquisition. Revenue growth after acquisition reflected as organic growth Strong organic growth compounded with disciplined M&A that has diversified and enhanced the Janus platform Platform Enha
Slide 23: Multi-Faceted Strategy to Drive Above Market Growth
Multi-Faceted Strategy to Drive Above Market Growth2 Drive Adoption of Access Control Technology Leverage existing customer relationships to drive further penetration of Nokē in self- storage 2 Increase Share of Commercial Door Market Leverage leading scale and global footprint to take share in high
Slide 24: Increase Share of Commercial Door Market
Increase Share of Commercial Door Market 24 Janus’ Commercial offerings have grown ~30% annually through both organic growth and a disciplined M&A strategy (Rolling Steel Capabilities) 2017 2020 2021 Launch of Full Commercial Product Line with Rolling Steel (New End Markets & Customers) $ 111 $ 113
Slide 25: Nokē Has a Greater Than $4.5 Billion Total Addressable Market
Operator Profit Enhancement Premium rental rates Remote facility management Reduced labor cost Enhanced tenant management / security Additional facilities technologies (thermal imaging, fire sensing, etc.) Consumer Demand Pull Strong demand for enhanced unit security and safety with remo
Slide 26: Further Penetration of Self-Storage End-Markets
9% 8% 21-25 26-30 >30 42% Further Penetration of Self-Storage End-Markets 26 Increase Content Per Square Foot Leverage Strong Relationships with Institutions Leverage R3 and New Maintenance Capabilities 2002 2018 2020 ~$2.50 / sq. ft. ~$4.65 / sq. ft. ~$7.85 / sq. ft. Content Per Square Foot (1) C
Slide 27: Proven Track Record of Successful M&A
Proven Track Record of Successful M&A Robust M&A Pipeline With Ample Inorganic Opportunities • Management has a proven track record identifying, executing and integrating acquisitions to support strategic growth • Formalized corporate development function • Highly accretive strategy focuses on the f
Slide 28: Financial Performance
Financial Performance
Slide 29: Continued Topline Growth With Strong Margin Performance
122 126 148 FY 2019A FY 2020A FY 2021A 565 549 750 FY 2019A FY 2020A FY 2021A Continued Topline Growth With Strong Margin Performance Historical Adj. EBITDA ($ in MM) & EBITDA Margin (%)Historical Revenue ($ in MM) & % Growth 17% (3)% 37% Y-o-Y Growth (%) Revenue Adj. EBITDA (1) % Margin Management
Slide 30: Attractive Cash Flow Funds Deleveraging and Strategic M&A
96% Attractive Cash Flow Funds Deleveraging and Strategic M&A Notes: 1. Adjusted Net Income is not a financial measure determined in accordance with GAAP. For a definition of this metric and a reconciliation to our most directly comparable financial measure calculated and presented in accordance wit
Slide 31: Focused on Prudent Management of Capital Structure
Focused on Prudent Management of Capital Structure Track record of disciplined capital deployment and low-investment levels expected to be required moving forward 31 Disciplined capital deployment track record with a focus on M&A Ample incremental liquidity of ~$87M as of Dec-2021 remaining from
Slide 32: Appendix A: Supplemental Materials
APPENDIX A Supplemental Materials
Slide 33: Broad and Comprehensive Solution Portfolio Overview (1/2)
Broad and Comprehensive Solution Portfolio Overview (1/2) Product Product Description Example Products S el f- S to ra g e S ys te m s Self-Storage Doors Hallway Systems Door Replacement Program R 3 Installation Electronic Lock – Nokē Smart EntryN o kē ● Automated overlock that is located inside of
Slide 34: Broad and Comprehensive Solution Portfolio Overview (2/2)
Broad and Comprehensive Solution Portfolio Overview (2/2) Product Product Description Example Products S el f- S to ra g e S o lu ti o n s C o m m er ci al S o lu ti o n s 34 Mezzanine Systems Relocatable Storage Systems ● Mezzanine systems create additional space vertically and are designed to prov
Slide 35: EBITDA Reconciliation Bridge
35 EBITDA Reconciliation Bridge
Slide 36: Free Cash Flow Conversion of Adjusted Net Income Reconciliation
36 Free Cash Flow Conversion of Adjusted Net Income Reconciliation January 1, 2022 December 26, 2020 January 1, 2022 December 26, 2020 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Cash flow from operating activities 15.1$ 23.9$ 74.8$ 100.8$ Less capital expenditures (3.9) (1.4) (19.9) (6.3) Plus
Slide 37: Janus International Group
INTERNATIONAL GROUP 53 JANUS
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