Slide 1: Results Presentation Q1'25
Results Presentation Q1’25
Slide 2: Disclaimer
Disclaimer Today’s presentation includes forward-looking statements that reflect looking statements speak only as of the date on which such statements are Dole plc’s current views with respect to future events, financial made, and we do not undertake any obligation to update any forward- performance
Slide 3: Q1'25 Highlights
Q1’25 Highlights
Slide 4: Q1'25 Highlights
Q1’25 Highlights Work in progress • Good result delivered in Q1’25, ahead of expectations • 4% increase in Revenue on a LFL basis (1) $2.1bn $105m $0.35 REVENUE ADJUSTED ADJUSTED • Adjusted EBITDA (2) lower due to decrease in EBITDA DILUTED EPS Fresh Fruit • Adjusted Diluted EPS (2) lower due to dec
Slide 5: Operational Review
Operational Review Q1’25
Slide 6: Fresh Fruit
Fresh Fruit • Robust performance, ahead of expectations • Good volume growth for bananas in North America and Europe • Higher sourcing costs due to impact of Tropical Storm Sara • Higher shipping costs due to completion of scheduled dry dockings and an operational disruption for one vessel servicing
Slide 7: Diversified Fresh Produce EMEA
Diversified Fresh Produce EMEA • Positive start to the year, aided by strong revenues and margin expansion • A weaker Euro in Q1’25 impacted translation of results to USD; Euro has materially strengthened post quarter end • Benefit of diversification – geographies and revenue channels • Committed to
Slide 8: Diversified Fresh Produce Americas & ROW
Diversified Fresh Produce Americas & ROW • Strong first quarter performance, driven by good results in the North American market • Modest declines in the Southern Hemisphere export businesses: exceptional conditions in Q1’24 • Lower margin from cherries: prior year benefitted from an exceptionally s
Slide 9: Fresh Vegetables
Fresh Vegetables • We continue to actively explore alternatives that are in the best interests of the Fresh Vegetables Division’s employees, customers, partners, and the Dole plc shareholders • Weaker Fresh Packed markets in Q1’25 compared to exceptionally strong Q1’24 • Stable performance in Value
Slide 10: Financial Review
Financial Review Q1’25
Slide 11: Group Results
Group Results Q1’25 Q1’24 Revenue - $’m 2,099 2,121 Income from Continuing Operations (3) - $’m 44.1 71.5 Net Income - $’m 44.2 65.4 Net Income attributable to Dole plc - $’m 38.9 70.1 Diluted EPS from Continuing Operations - $ 0.41 0.80 Diluted EPS - $ 0.41 0.74 Non-GAAP performance measures (4) Ad
Slide 12: Segment Results
Segment Results $’m Q1’25 Q1’24 Adjusted Adjusted Revenue Revenue EBITDA EBITDA Fresh Fruit 878 63.3 824 69.4 Diversified Fresh Produce – EMEA 892 27.7 854 26.0 Diversified Fresh Produce – Americas & ROW 363 13.8 477 14.7 Intersegment (34) - (33) - Total 2,099 104.8 2,121 110.1 12
Slide 13: Fresh Fruit
Fresh Fruit REVENUE $’M 878 +6.5% 824 YoY Q1'24 Q1'25 Q1’25 Review ▪ 6.5% increase in revenue, primarily due to higher worldwide ADJUSTED EBITDA $’M volumes of bananas, as well as higher worldwide pricing of pineapples and plantains, partially offset by lower worldwide volumes of pineapples and plan
Slide 14: Diversified Fresh Produce EMEA
Diversified Fresh Produce EMEA REVENUE $’M +4.5% YoY 854 892 +8.0% LFL Q1’25 Review Q1'24 Q1'25 ▪ 4.5% increase in revenue primarily due to strong performance in the U.K., Spain and the Netherlands, ADJUSTED EBITDA $’M partially offset by net negative impacts from FX and M&A ▪ On a LFL basis, revenu
Slide 15: Diversified Fresh Produce Americas & ROW
Diversified Fresh Produce AMERICAS & ROW REVENUE $’M -23.8% YoY 477 363 -6.8% LFL Q1’25 Review Q1'24 Q1'25 ▪ Decrease in reported revenue largely due to the sale of Progressive Produce in March 2024 ▪ On a LFL basis, revenue decreased 6.8%, primarily due to lower ADJUSTED EBITDA $’M export pricing i
Slide 16: Capital Allocation and Net Leverage
Capital Allocation and Net Leverage CASH CAPEX (5) Continuing Operations Q1’25: $(52.8m) NET DEBT & NET LEVERAGE (6) FREE CASH FLOW (6) Continuing Operations $’m Mar 31, 2025 Dec 31, 2024 Mar 31, 2024 Q1’25: $(131.6m) Total Gross Debt (996.9) (967.1) (1,015.2) Cash and Cash Equivalents 254.9 330.0 2
Slide 17: FY'25 Outlook & Strategic Priorities
FY’25 Outlook & Strategic Priorities
Slide 18: FY'25 Outlook
FY’25 Outlook Adjusted EBITDA Maintenance Capex Interest Expense Continuing Operations Continuing Operations At least $380m ~ $100m ~$70m Prior guidance: No change No change ~$370m - $380m 18
Slide 19: FY'25 Strategic Priorities
FY’25 Strategic Priorities Accelerating growth in core Investing for growth while maintaining a business areas and disciplined approach categories to capital allocation Advancing on our Exiting the Fresh sustainability goals Vegetables and adapting to business regulatory changes Focusing on cost con
Slide 20: Q&A
Q&A
Slide 21: Appendix: Non-GAAP Measures and Reconciliations
Appendix Non-GAAP Measures and Reconciliations
Slide 22: Non-GAAP Measures
Non-GAAP Measures Dole plc’s results are determined in accordance with U.S GAAP. In addition to its results under U.S. GAAP, in Last Twelve Months ("LTM") Adjusted EBITDA is calculated as Adjusted EBITDA, as defined above, for the this presentation, we also present Dole plc’s Adjusted EBIT, Adjusted
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation RECONCILIATION FROM NET INCOME TO ADJUSTED EBITDA - UNAUDITED Three Months Ended March 31, 2025 March 31, 2024 (U.S. Dollars in thousands) Net income (Reported GAAP) $44,159 $65,436 (Income) loss from discontinued operations, net of income taxes (30) 6,051 Income from
Slide 24: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation RECONCILIATION FROM NET INCOME ATTRIBUTABLE TO DOLE PLC SHAREHOLDERS TO ADJUSTED NET INCOME – UNAUDITED Three Months Ended March 31, 2025 March 31, 2024 (U.S. Dollars in thousands, except per share amounts) Net income attributable to Dole plc (Reported GAAP) $38,91
Slide 25: Like for Like Analysis – Q1'25
Like for Like Analysis – Q1’25 Revenue for the Three Months Ended Impact of Foreign Impact of Like-for-like March 31, 2024 Currency Acquisitions and Increase March 31, 2025 Translation Divestitures (Decrease) (U.S. Dollars in thousands) Fresh Fruit $824,229 $(37) $ - $53,953 $878,145 Diversified Fre
Slide 26: Thank you
Thank you james.oregan@doleplc.com