Jbt Marel Corporation · NYSE:JBTM
Jbt Marel — Merger or Acquisition (January 2024)
12 slides from Jbt Marel's merger presentation, Jan 19, 2024
Slide 1: JBT Announces Significant Progress on its Elevate 2.0 Strategy
JBT Announces Significant Progress on its Elevate 2.0 Strategy: ▪ Intention to Merge with Marel hf (Marel) ▪ Demonstrating Strong Operational Performance January 19, 2024 1 2
Slide 2: Forward-Looking and Non-GAAP Statements
Forward-Looking and Non-GAAP Statements These slides and the accompanying presentation (collectively, the “presentation”) contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Private Securities Litigatio
Slide 3: Important Additional Information
Important Additional Information Important Note Regarding Preliminary, Unaudited 2023 Financial Results and Non-GAAP Language JBT has not completed preparation of its financial statements for the full year of 2023. The ranges presented in this presentation for the year ended December 31, 2023, are p
Slide 4: At March 2022 Investor Day, JBT Introduced the Elevate 2.0 Strategy
At March 2022 Investor Day, JBT Introduced the Elevate 2.0 Strategy and Exploration of Pure-play Food and Beverage Strategy… Organic Growth 1 ▪ New product development 2 ▪ End market penetration ▪ Cross-selling opportunities DIGITAL ▪ Continued penetration into attractive geographies TRANSFORMATION
Slide 5: …And We Are Executing This Strategy to Drive Value Creation
…And We Are Executing This Strategy to Drive Value Creation March 2022 August 2023 Announced at Investor Day Completed sale of Today the Elevate 2.0 strategy and AeroTech for $800M, exploration of pure-play creating a pure-play food ANNOUNCING food and beverage solutions and beverage technology INTE
Slide 6: Solid Preliminary Orders and Sustained Backlog Demonstrate JBT's Resiliency
Solid Preliminary Orders and Sustained Backlog Demonstrate JBT’s Resiliency Preliminary Orders and Backlog Trend Preliminary FY 2023 Revenue Breakdown ($ Millions) Orders Backlog Recurring Non-Recurring $670 – $691 $678 $697 $689 $670 $662 $664 $680 $635 ~50% ~50% $455 $432 $445 $410 – $412 $396 $40
Slide 7: Strong Preliminary 2023 Results Demonstrate Operational Momentum; Initiating 2024 Guidance
Strong Preliminary 2023 Results from Continuing Operations Demonstrate Operational Momentum; Initiating 2024 Guidance Preliminary FY 2023 FY 2023 Preliminary FY 2024 $ millions except EPS Results Prior Guidance Guidance Revenue $1,660 – $1,670 $1,660 – $1,680 $1,750 – $1,780 Income from Continuing O
Slide 8: Highly Synergistic Merger Would Create a Diversified and Leading Global Food and Beverage Technology Solutions Company
Highly Synergistic Merger Would Create a Diversified and Leading Global Food and Beverage Technology Solutions Company Expected value-creating opportunities Compelling platform to accelerate growth by offering fuller line 1 solutions, holistic application knowledge, and leveraging of R&D capabilitie
Slide 9: Transaction Expected to Generate Significant Value for Shareholders
Transaction Expected to Generate Significant Value for Shareholders ◼ JBT intends to launch a voluntary takeover offer in the first quarter of 2024 to acquire all issued and outstanding shares of Marel ◼ Offer price of €3.60 per share, implying total equity value of approximately €2.7B; inclusive of
Slide 10: Combination of Two Complementary Food and Beverage Processing Companies
Combination of Two Complementary Food and Beverage Processing Companies Should Provide Enhanced Scale and Profitable Growth Expected Combined Company Attributes $ millions TTM as of 09/30/23 ▪ Comprehensive protein and pet food market coverage with deep Revenue $1,661 $1,933 application knowledge an
Slide 11: Merger Expected to Meet JBT's M&A Criteria and Accelerate Long-term Growth
Merger Expected to Meet JBT’s M&A Criteria and Accelerate Long-term Growth, Driven by Higher-value Solutions for Customers JBT M&A Framework for Strategic JBT Organic Growth Strategy Marel Offers and Financial Criterium / Returns ✓ Primary and downstream processing capabilities in Penetrate Adjacent
Slide 12: Merger Should Deliver Meaningful Financial Benefits, Including Annual Run Rate Cost Synergies of >$125M
Merger Should Deliver Meaningful Financial Benefits, Including Annual Run Rate Cost Synergies of >$125M Estimated Cost Additional Revenue Strong Financial Synergies Opportunities Profile ✓ Operating efficiencies anticipated in ✓ Cross-selling capabilities through diversified ✓ Expect accretion to ca