Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Q1 2023 Earnings Presentation
10 slides from Unifi, Inc. New's earnings presentation, Nov 4, 2022
Slide 1: Conference Call Presentation: First Quarter Ended October 2, 2022
CONFERENCE CALL PRESENTATION First Quarter Ended October 2, 2022 (Unaudited Results) 1
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Forward-Looking Statements Certain statements included herein contain “forward-looking statements” within the meaning of federal securities laws about the financial condition and results of operations of the Company that are based on management’s beliefs, assumptions and expect
Slide 3: Q1 Fiscal 2023 Overview
Q1 FISCAL 2023 OVERVIEW (compared to Q1 Fiscal 2022) Revenue Diluted EPS Adj. EBITDA(1) REPREVE Fiber % of Sales $179.5M ($0.44) $2.3M vs. vs. vs. 27% vs. $196.0M $0.46 $19.8M 37% Brand and retailer destocking and demand disruption leads to performance shortfall for Americas and Asia Segments Di
Slide 4: REPREVE Fiber Sales
REPREVE FIBER SALES as a % of Net Sales and Millions of $s Annual Quarterly 37% 36% 40% 38% 38% % of Net Sales % of Net Sales 37% 36% 31% 36% 34% 31% 25% 27% 24% $163 $180 $186 $246 $293 $51.6 $62.5 $61.7 $70.0 $71.9 $81.5 $71.9 $67.7 $49.2 2018 2019 2020 2021 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Fiscal
Slide 5: REPREVE Q1 Fiscal 2023 Highlights
REPREVE® Q1 FISCAL 2023 HIGHLIGHTS REPREVE.com Launch Mobile Tour Social Media Fueled by new creative direction, we relaunched our Our Mobile Tour continues to educate consumers REPREVE’s brand partnerships are an essential REPREVE website in early October. The new clean and partners about the benef
Slide 6: Net Sales Overview
NET SALES OVERVIEW Year-Over-Year, $s in Millions Consolidated Americas Brazil Asia $196.0 $179.5 $110.9 $107.6 $51.4 $38.9 $33.0 $33.7 ↓8.4% ↓2.9% ↑15.2% ↓35.8% Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Volume (21.3%) Volume (20.7%) Volume 16.6% Volume (39.6%) Price/Mix 14.3%
Slide 7: Gross Profit Overview
GROSS PROFIT OVERVIEW Year-Over-Year, $s in Millions Consolidated Americas Brazil Asia 35.00% $26.1 25.00% $9.9 $7.0 15.00% 13.3% 5.00% $9.2 $6.8 $4.7 3.7% -5.00% 8.3% 29.5% 14.1% 17.5% 13.6% $6.6 -4.5% -15.00% -25.00% -$4.9 Gross Profit $ Gross Profit % 7 Note: Q1 FY22 ended on September 26, 2021 a
Slide 8: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS $s in Millions Capital allocation strategy remains balanced across: $150 1 Organic FYs 2021, 2022 and 2023: $130 Growth New texturing equipment $110 2 Balanced FYs 2021, 2022 and 2023: Leverage Balance sheet diligence Debt Principal $90 3 Net Debt Share FY 2022: $70 615,500
Slide 9: Amended Credit Facility
AMENDED CREDIT FACILITY $s in Millions Concept Prior Facility1 New Facility2 Maturity date December 18, 2023 October 28, 2027 LIBOR + SOFR + 10 bps + Pricing 1.25% to 1.75% 1.25% to 1.75% Capacity / $100.0 Revolver $115.0 Revolver Structure $100.0 Term Loan $115.0 Term Loan 1 bps to 5 bps potential
Slide 10: Q2 Fiscal 2023 Financial Outlook
Q2 FISCAL 2023 FINANCIAL OUTLOOK $s in Millions Key Financial Metrics Q1 FY23 Results Q2 FY23 Outlook Net Sales $179.5 10 - 15% Profitability (Adj. EBITDA) $2.3 $(5.0) to $0.0 Effective Tax Rate - 54% Similar Capital Expenditures $11.2 Similar Building Momentum For Long-Term Growth and For The Good