Smith-midland Corporation · NASDAQ:SMID
Smith-midland — Investor Presentation (July 2024)
17 slides from Smith-midland's investor presentation, Jul 2, 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION NASDAQ: SMID JUNE 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement These slides and the accompanying oral presentation contain forward-looking statements, All statements other than statements of historical fact contained in this presentation, including statements regarding the future financial position of Smith-Midiand Corporation ("SMID" or t
Slide 3: Safe Harbor Statement - Non-GAAP Financial Measures
Safe Harbor Statement Non-GAAP Financial Measures To supplement its consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles (GAAP) the Company uses EBITDA as a non-GAAP financial measure. The presentation of this financial infor
Slide 4: Smith-Midland at a Glance
Smith-Midland at a Glance (Nasdaq) $33.42 Share Price* + Asorow0see $59.6M Revenue (FY23) 1960 Headquartered in Midland, Virginia $176M Market Cap LEADER In Highway & $60.8M Infrastructure Products Backlog ‘smithmidiand.com | Investor Presentation, INNOVATIVE Commercial Construction Building Product
Slide 5: Investment Highlights
Investment Highlights Leading precast concrete manufacturer Patented products include J-J Hooks and EASI-SET Strategic shift to barrier rental model Higher margin, favorable cash flow model Macro-economic tallwind from increased Infrastructure spending Transportation and commercial construction ‘smi
Slide 6: Proprietary Products
Proprietary Products JJ-Hook Highway Barriers Easi-Set Concreté Buildings smithmidland,com | Investor Presentation _ SlenderWall Cladding System SoftSound Absorptive Noise Wall November 2023
Slide 7: Customized Products
Customized Products ‘smithmidiand.com | Investor Presentation, November 2023 7
Slide 8: Strategically Located Manufacturing Plants
Strategically Located Manufacturing Plants VIRGINIA f ; 45 acres, 59K sf (Midland) - 3 reaches NY to NC/WV NORTH Fo 46 acres, 15K sf CAROLINA = = ‘i reaches NC to TN/KY (Reidsville) *New in 2020, double capacity from prior plant SOUTH CAROLINA (Columbia) 39 acres, 29K sf Teaches NC to FL/AL smithmid
Slide 9: Concrete Safety Barrier Rental Division
Concrete Safety Barrier Rental Division 250K linear feet fleet Expansion to 575K linear feet Estimated cost $5 million ‘smithmidiand.com | Investor Presentation, Shift to vs sales Higher margins of revenues of earnings and income cash-flow cycle November 2023
Slide 10: Expanded Geographic Reach through Licensing
Expanded Geographic Reach through Licensing He miners vel tone WH easser suing: UH se 75 Licenses Belgium \ New Zealand Award-Winning Products 6% Royalty Trinidad & Tobago de United states # Australia ‘smithmidiand.com | Investor Presentation, November 2023 10
Slide 11: Infrastructure Spend Tailwinds Benefit Smith-Midland
Infrastructure Spend Tailwinds Benefit Smith-Midland * New MASH TLS3 standard - all U.S. highway barrier mandated replacement over the next 4-6 years « J-J Hooks approved in California— 24 most highway miles in U.S. * Low-profile barrier offers lower cost and easier installation + Accelerated spend
Slide 12: Trends Favoring Off-Site Precast Modular Construction
Trends Favoring Off-Site Precast Modular Construction - Macro trend to off-site modular construction * Shortened lead times « Reduced subcontractors * Minimization of carrying costs - Increased quality * Speed of installation * Aging construction workforce * Developer saves Time & Money « Less labor
Slide 13: Annual Revenue, Backlog
Annual Revenue, Backlog REVENUE BACKLOG (in millions) {in millions) $65.0 $70.0 $59.6 se08 $60.0 $60.0 Cory 350.0 $55.0 2 § $50.6 $50.1 $40.0 $50.0 $30.9 $46.7 $30.0 $29.0 $43.9 1! saci $20.0 S188 00 | $10.0 ll $35.0 $0.0 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 ‘smithmidiand.com | Investor
Slide 14: Earnings per Share & EBITDA
Earnings per Share & EBITDA Earnings per Share EBITDA $tis0 (in millions) 148 $14.0 $1.40 11.9 $120 ; $1.20 $1.00 $10.0 $8.0 $0.80 $6.4 $0.60 0.51 $60 $0.38 ‘ S44 $4.4 $40 $0.40 $4.0 $0.20 | $0.15 $0.15 $20 j $0.00 Lal Lal $0.0 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 ‘smithmidiand.com | In
Slide 15: 1Q24 Summary
1Q24 Summary Revenue increased 28 percent to $16.4 million Product sales increased 26 percent; service revenue increased 30 percent Operating income of $1.2 million compared to $54,000 in prior-year quarter Net income of $1.1 million ($0.21 per diluted share vs $0.02 in 1Q23) ‘smithmidiand.com | Inv
Slide 16: Contact
540-439-3266 investors@smithmidland.com www.SmithMidland.com
Slide 17: Balance Sheet
Balance Sheet December 31, December 31, ASSETS: 2023 2022 Current assets Cash s 9,175 $ 6.726 Other current assets 24,150 2214 Total current assets 33.925 28,940 Property and equipment, net 27,680 25,124 Other assets 243 249 Total assets $ 61,348 $ 543313 LIABILITIES AND STOCKHOLDERS’ EQUITY Current