Slide 1: Q4 and Full Year 2024 Earnings Presentation
Q4 and Full Year 2024 Earnings Presentation February 24, 2025
Slide 2: Forward Looking and Non-GAAP Statements
FORWARD LOOKING AND NON-GAAP STATEMENTS This presentation contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond JBT Marel
Slide 3: JBT Standalone Fourth Quarter and Full Year 2024 Results
JBT STANDALONE FOURTH QUARTER AND FULL YEAR 2024 RESULTS JBT Standalone Results Key Takeaways Q4 2024 YoY FY 2024 YoY ▪ Strong Q4 2024 performance drove quarterly records for Results from Continuing Operations ($ millions except EPS and margin) orders, backlog, revenue, adjusted EBITDA, and adj. EPS
Slide 4: JBT Standalone Orders Achieved New Quarterly Record
JBT STANDALONE ORDERS ACHIEVED NEW QUARTERLY RECORD JBT Orders and Backlog Trend JBT Full Year 2024 Revenue Breakdown ($ Millions) Orders Backlog Recurring Non-Recurring North America EMEA $697 $697 $698 $721 Asia Pacific Central & South $664 $678 $689 $678 $664 America 5% 9% $523 $432 $445 $418 $43
Slide 5: Marel Standalone Fourth Quarter and Full Year 2024 Results (IFRS)
MAREL STANDALONE FOURTH QUARTER AND FULL YEAR 2024 RESULTS (IFRS) Marel Standalone Key Takeaways Q4 2024 YoY FY 2024 YoY ▪ Achieved record orders of €474M in Q4 2024 with sequential IFRS Results (€ millions except margin) improvement of 18% Orders € 474 2% € 1,663 2% ▪ Fourth quarter revenue include
Slide 6: Marel Standalone Orders Also Achieved New Quarterly Record
MAREL STANDALONE ORDERS ALSO ACHIEVED NEW QUARTERLY RECORD Marel Orders and Order Book Trend Marel Full Year 2024 Revenue Breakdown (€ Millions) Orders Order Book Aftermarket Equipment EMEA Americas € 675 Asia & Oceania € 590 € 575 € 580 € 600 € 562 € 560 € 539 € 554 10% € 466 € 474 € 413 € 407 € 39
Slide 7: Marel 2024 Converted Results & Combined JBT + Marel 2024 Results
MAREL 2024 CONVERTED RESULTS & COMBINED JBT + MAREL 2024 RESULTS Marel FY 2024 Converted Results Combined JBT + Marel FY 2024 Results Marel Results Marel Results JBT Standalone Marel Standalone Combined JBT + In millions In millions except margin (EUR) (USD) Results U.S. GAAP (USD) Marel Results Ord
Slide 8: Combined JBT + Marel 2024 Orders & Revenue Summary
COMBINED JBT + MAREL 2024 ORDERS & REVENUE SUMMARY Full Year 2024 Equipment Orders by End Market Recurring Revenue & Revenue Geography Summary (1) Poultry 35% Recurring Non-Recurring Americas Asia & Oceania EMEA Meat 15% Fruit & Veg 12% ~9% Fish / Seafood 7% Ready Meals 7% ~50% ~50% ~53% ~38% Pet Fo
Slide 9: JBT Marel Capital Structure Update
JBT MAREL CAPITAL STRUCTURE UPDATE Key Highlights Total Gross Debt Outstanding ▪ Executed deal-contingent transaction financing on January 2, 2025, and Amount Issued / Rate Maturity terminated bridge credit facility Drawn ($B) Structure Schedule ▪ Transaction financing included 5-year, $1.8B revolvi
Slide 10: JBT Marel Full Year 2025 Outlook
JBT MAREL FULL YEAR 2025 OUTLOOK FY 2025 $ millions except EPS and margin Guidance Revenue $3,575 – $3,650 Components of JBT Marel Revenue Guidance ($ millions) Income from Continuing Operations $(70) – $(35) Legacy JBT Revenue $1,800 - $1,840 Adjusted EBITDA (1) Margin 15.75% – 16.50% Marel Revenue
Slide 11: JBT Marel Q1 2025 Outlook
JBT MAREL Q1 2025 OUTLOOK Q1 2025 $ millions except EPS and margin Guidance Revenue $820 – $850 Income from Continuing Operations $(185) – $(174) Adjusted EBITDA (1) Margin 12 – 13% GAAP EPS $(3.55) – $(3.35) Adjusted EPS (1) $0.70 – $0.90 Additional Q1 2025 Guidance Details ▪ Revenue includes an es
Slide 12: Appendix
Appendix -- JBT Maret
Slide 13: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES The non-GAAP financial measures presented in this report may differ from similarly-titled measures used by other companies. The non-GAAP financial measures are not intended to be used as a substitute for, nor should they be considered in isolation of, financial measures p
Slide 14: JBT Reconciliation of Income from Continuing Operations to Adjusted EBITDA
JBT RECONCILIATION OF INCOME FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA 14
Slide 15: JBT Reconciliation of Diluted EPS to Adjusted Diluted EPS
JBT RECONCILIATION OF DILUTED EARNINGS PER SHARE (EPS) TO ADJUSTED DILUTED EPS 15
Slide 16: JBT Reconciliation of Cash Provided by Operating Activities to Free Cash Flow
JBT RECONCILIATION OF CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW 16
Slide 17: JBT Leverage Ratio Calculations
JBT LEVERAGE RATIO CALCULATIONS 17
Slide 18: JBT Recurring vs. Non-Recurring Revenue
JBT RECURRING VS. NON-RECURRING REVENUE 18
Slide 19: Marel Reconciliation of IFRS to U.S. GAAP Adjusted EBITDA
MAREL RECONCILIATION OF IFRS TO U.S. GAAP ADJUSTED EBITDA – TWELVE MONTHS ENDED DECEMBER 31, 2024 19
Slide 20: JBT Marel Reconciliation of Diluted EPS to Adjusted Diluted EPS Guidance
JBT MAREL RECONCILIATION OF DILUTED EPS FROM CONTINUING OPERATIONS TO ADJUSTED DILUTED EPS GUIDANCE 20
Slide 21: JBT Marel Reconciliation of Income to Adjusted EBITDA Guidance
JBT MAREL RECONCILIATION OF INCOME FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA GUIDANCE 21