Phibro Animal Health Corporation · NASDAQ:PAHC
Phibro Animal Health — Q4 2024 Earnings Presentation
13 slides from Phibro Animal Health's earnings presentation, Aug 29, 2024
Slide 1: Phibro Animal Health Corporation Webcast and Conference Call
Phibro Animal Health Corporation Webcast and Conference Call August 29, 2024 U.S. toll-free +1.888.330.2022 International toll +1.365.977.0051 Conference ID: 3927884 Financial Results Fiscal Year 2024 Fourth Quarter Ended June 30, 2024 August 29, 2024 Webcast and Conference Call
Slide 2: Important Information
Important Information Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements that are subject to risks and uncertainties, including with respect to any future debt and leverage levels. All statements other than statements of historical or cur
Slide 3: Key Themes
Key Themes Acquire Zoetis’ MFA Continued Sales Strong Growth in FY2025 Full Year and Certain Water Momentum Animal Health Guidance Soluble Products • Acquisition of Zoetis MFA and 2025 guidance Q4 Total Consolidated sales and Q4 Animal Health sales and certain water soluble products • Net sales of $
Slide 4: Financial Performance - Consolidated (Fourth Quarter)
Financial Performance - Consolidated Fourth Quarter, Year-on-Year comparison $ in millions, except per share data Q4 Q4 YOY FY23 FY24 %∆ Consolidated Net Sales $ 255.0 $ 273.2 7% Net Income $ 11.5 $ 0.8 (93%) Diluted EPS $ 0.28 $ 0.02 (93%) Adjusted EBITDA $ 32.3 $ 33.4 3% Adjusted Net Income $ 15.2
Slide 5: Financial Performance - Consolidated (Full Year)
Financial Performance - Consolidated Full Year, Year-on-Year comparison $ in millions, except per share data Full Year Full Year YOY FY23 FY24 %∆ Consolidated Net Sales $ 977.9 $ 1,017.7 4% Net Income $ 32.6 $ 2.4 (93%) Diluted EPS $ 0.81 $ 0.06 (93%) Adjusted EBITDA $ 112.8 $ 111.2 (1%) Adjusted Ne
Slide 6: Financial Performance – Animal Health (Fourth Quarter)
Financial Performance – Animal Health Fourth Quarter, Year-on-Year comparison $ in millions Q4 Q4 YOY FY23 FY24 %∆ Animal Health Net Sales $ 176.8 $ 191.5 8% MFAs & other 104.2 116.7 12% Nutritional specialties 44.6 42.8 (4%) Vaccines 28.0 32.0 14% Adj. EBITDA $ 37.9 $ 41.3 9% Adj. EBITDA Margin 21.
Slide 7: Financial Performance – Animal Health (Full Year)
Financial Performance – Animal Health Full Year, Year-on-Year comparison $ in millions Full Year Full Year YOY FY23 FY24 %∆ Animal Health Net Sales $ 659.9 $ 706.5 7% MFAs & other 387.3 421.0 9% Nutritional specialties 172.5 164.7 (5%) Vaccines 100.0 120.9 21% Adj. EBITDA $ 136.1 $ 145.6 7% Adj. EBI
Slide 8: Financial Performance – Other Segments (Fourth Quarter)
Financial Performance – Other Segments Fourth Quarter, Year-on-Year comparison $ in millions Q4 Q4 YOY FY23 FY24 %∆ Mineral Nutrition Net Sales $ 58.4 $ 62.1 6% Adj. EBITDA $ 3.9 $ 5.4 40% Adj. EBITDA Margin 6.6% 8.7% +210 bps Performance Products Net Sales $ 19.9 $ 19.6 (1%) Adj. EBITDA $ 2.3 $ 3.1
Slide 9: Financial Performance – Other Segments (Full Year)
Financial Performance – Other Segments Full Year, Year-on-Year comparison $ in millions Full Year Full Year YOY FY23 FY24 %∆ Mineral Nutrition Net Sales $ 242.7 $ 243.7 0% Adj. EBITDA $ 17.4 $ 16.4 (6%) Adj. EBITDA Margin 7.2% 6.8% -40 bps Performance Products Net Sales $ 75.4 $ 67.5 (10%) Adj. EBIT
Slide 10: Key Capitalization Metrics
Key Capitalization Metrics June 30, 2024 Free cash flow was $46+ million for the TTM -- positive cash from operating activities of $88 million, less capital expenditures of $(41) million. Free Cash Flow (1) Cash and cash equivalents and short-term investments of $115 million 4.4x gross leverage rati
Slide 11: 2024 Credit Facilities
2024 Credit Facilities Subsequent event, executed on July 3, 2024 The 2024 Credit Facilities: has an initial aggregate principal amount of $610 million, contains a delayed draw provision to allow the Company to draw an additional $350 million Term A Loan upon closing of the Zoetis transaction,
Slide 12: Financial Guidance
Financial Guidance Fiscal Year 2025 $ in millions, except earnings per share (EPS) data FY 2024 FY 2025 Full Year Guidance Actual Low High Consolidated Net Sales $ 1,018 $ 1,040 $ 1,090 Net Income $ 2 $ 32 $ 38 Diluted EPS $ 0.06 $ 0.79 $ 0.93 Adjusted EBITDA $ 111 $ 118 $ 126 Adjusted Net Income $
Slide 13: Q&A
PAHC Company Overview Q&A 13 August 29, 2024 Webcast and Conference Call