Matthews International Corporation · NASDAQ:MATW
Matthews International — Q3 2021 Earnings Presentation
16 slides from Matthews International's earnings presentation, Jul 30, 2021
Slide 1: Third Quarter Fiscal 2021 Earnings Teleconference
www.matw.com | Nasdaq: MATW Third Quarter Fiscal 2021 Earnings Teleconference July 30, 2021 Joseph C. Bartolacci President and Chief Executive Officer Steven F. Nicola Chief Financial Officer
Slide 2: Disclaimer
© 2021 Matthews International Corporation. All Rights Reserved. DISCLAIMER 2 Any forward-looking statements contained in this presentation are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and
Slide 3: Overview
Matthews Bae INTERNATIONAL’ OVERVIEW
Slide 4: Q3 2021 Summary
© 2021 Matthews International Corporation. All Rights Reserved. Q3 2021 SUMMARY * See supplemental slides for Adjusted EPS, Adjusted EBITDA, and Net Debt Leverage Ratio reconciliations, and other important disclaimers regarding Matthews’ use of Non-GAAP measures 4 Q3 2020 Q3 2021 Sales $ 359.4 $ 428
Slide 5: Memorialization
© 2021 Matthews International Corporation. All Rights Reserved. MEMORIALIZATION * See supplemental slide for Adjusted EBITDA reconciliation and other important disclaimers regarding Matthews’ use of Non-GAAP measures 5 23.0% 21.1% $162.1 $184.3 Q3 FY2020 Q3 FY2021 $478.3 $573.1 FY2020 FY2021 $37.7 $
Slide 6: SGK Brand Solutions
© 2021 Matthews International Corporation. All Rights Reserved. SGK BRAND SOLUTIONS ($ in millions) * See supplemental slide for Adjusted EBITDA reconciliation and other important disclaimers regarding Matthews’ use of Non-GAAP measures 6 15.4% 12.9% $165.8 $199.7 Q3 FY2020 Q3 FY2021 $513.5 $538.9 F
Slide 7: Industrial Technologies
© 2021 Matthews International Corporation. All Rights Reserved. INDUSTRIAL TECHNOLOGIES * See supplemental slide for Adjusted EBITDA reconciliation and other important disclaimers regarding Matthews’ use of Non-GAAP measures 7 15.5% 12.4% 15.6%10.3% ($ in millions) $31.5 $44.3 Q3 FY2020 Q3 FY2021 $1
Slide 8: Capitalization and Cash Flows
© 2021 Matthews International Corporation. All Rights Reserved. • FY21 operating cash flow impacted by: ◦ $15 million discretionary pension contribution ◦ Record sales leading to higher receivables balance ◦ Higher commodity costs increasing inventory value ◦ $8.4 million FICA payment delayed by COV
Slide 9: Overview
Matthews fEtaniiss OVERVIEW INTERNATIONAL
Slide 10: Business Update
© 2021 Matthews International Corporation. All Rights Reserved. 10 BUSINESS UPDATE SGK BRAND SOLUTIONS MEMORIALIZATION INDUSTRIAL TECHNOLOGIES • Higher cemetery memorial products and cremation equipment sales • Higher direct material costs expected for the balance of the fiscal year • Expected conti
Slide 11: Outlook for Fiscal 2021
© 2021 Matthews International Corporation. All Rights Reserved. Key Drivers • Increased guidance to at least $225 million adjusted EBITDA • Decline in casket sales expected as pandemic subsides • Higher direct material costs (bronze, steel and lumber) as well as higher labor and freight costs expect
Slide 12: Supplemental Information
Matthews Buje INFORMATION INTERNATIONAL
Slide 13: Non-GAAP financial measures definitions
© 2021 Matthews International Corporation. All Rights Reserved. 13 Included in this report are measures of financial performance that are not defined by GAAP, including, without limitation, adjusted EBITDA, adjusted net income and EPS, net debt and net debt leverage ratio. The Company defines net de
Slide 14: Adjusted EBITDA Non-GAAP Reconciliation
© 2021 Matthews International Corporation. All Rights Reserved. * See Disclaimer (page 2) for Management’s assessment of supplemental information related to adjusted EBITDA. 14 Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net income (loss) $ 3,366 $ 1,849 $ 6,526 $ (95,
Slide 15: Adjusted Net Income and Earnings Per Share Non-GAAP Reconciliation
© 2021 Matthews International Corporation. All Rights Reserved. ADJUSTED NET INCOME AND EARNINGS PER SHARE NON-GAAP RECONCILIATION (Unaudited) (In thousands, except per share data) * See Disclaimer (page 2) for Management’s assessment of supplemental information related to adjusted net income and ad
Slide 16: Net Debt and Net Debt Leverage Ratio Non-GAAP Reconciliation
© 2021 Matthews International Corporation. All Rights Reserved. * See Disclaimer (page 2) for Management’s assessment of supplemental information related to net debt and net debt leverage ratio. 16 June 30, 2021 March 31, 2021 December 31, 2020 September 30, 2020 Long-term debt, current maturities $
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