Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Q4 2024 Earnings Presentation
19 slides from Lakeland Industries's earnings presentation, Apr 11, 2024
Slide 1: Fiscal Fourth Quarter and FY 2024 Financial Results Call
Fiscal Fourth Quarter and FY 2024 Financial Results Call April 11, 2024 NASDAQ: LAKE | LAKELAND.COM
Slide 2: Safe Harbor & Non-GAAP Statements
Safe Harbor & Non-GAAP Statements “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains estimates, predictions, opinions, goals and other “forward -looking statements” as that phrase is defi ned in the Private Securities Litigation Reform Act o
Slide 3: Lakeland Overview (Nasdaq: LAKE)
Lakeland Overview (Nasdaq: LAKE) What We Do Lakeland Revenue - Fiscal 2024 Global manufacturer of quality, cost-effective, and mission-critical personal protective clothing solutions 8% USA that protect people at work and in their communities 11% Asia GEOGRAPHY 13% 44% Europe Key Statistics Latin Am
Slide 4: Mission-Critical Product Portfolio
Mission-Critical Product Portfolio Industrial Fire Products Products • Chemical Suits • NFPA -certified Fire Turnout Gear • PPE / Disposable Coveralls • CE-certifiedFire Turnout Gear • FR/AR Performance Wear • Pacific brand of safety helmets • High Visibility • Jolly brand of fire boots • Jolly and
Slide 5: Fiscal 2024 Fourth Quarter Highlights and FY2025 Guidance
Fiscal 2024 Fourth Quarter Highlights and FY2025 Guidance Q4-FY24 Highlights Q4-FY24 Revenue • Net sales growth of 8% • High-value, strategic product line growth, led by a 18% increase in fire service 10% USA Revenue $31.2 million 12% Latin America 41% Other N.A. Gross Margin 35.9% (44.6% excl. inve
Slide 6: Fiscal 2024 Fourth Quarter Financial Highlights
Fiscal 2024 Fourth Quarter Financial Highlights Adjusted EBITDA & Net Sales Gross Margin Diluted EPS Adjusted EBITDA Margin 44.6% $31.2 $3,430 $29.0 37.5% 35.9% 11.0% $1,851 $1,770 0.02 6.4% 5.7% -0.13 FY'23 FY'24 FY'24 FY'23 FY'24 FY'24 FY'23 FY'24 Adjusted FY'23 FY'24 Adjusted • Net sales increase
Slide 7: FQ4 Gross Margin and Adjusted EBITDA Bridge
FQ4 Gross Margin and Adjusted EBITDA Bridge GROSS MARGIN % ADJUSTED EBITDA • Sales increases in US, Europe, Canada and Latin America • Higher Organic revenue on strategic products • Gross Margin improvement positively impacted by the reduction of freight costs • Foreign currency exchange movements i
Slide 8: Fiscal 2024 Full Year Financial Highlights
Fiscal 2024 Full Year Financial Highlights Adjusted EBITDA & Net Sales Gross Margin Diluted EPS Adjusted EBITDA Margin 43.2% 0.73 $15,716 $124.7 40.6% 41.1% $112.8 $11,977 12.6% $9,643 9.6% 8.6% 0.25 FY'23 FY'24 FY'24 FY'23 FY'24 FY'24 FY'23 FY'24 Adjusted FY'23 FY'24 Adjusted • Net sales increased1
Slide 9: FY24 Gross Margin and Adjusted EBITDA Bridge
FY24 Gross Margin and Adjusted EBITDA Bridge GROSS MARGIN % ADJUSTED EBITDA • Gross Margin improvement positively impacted by the reduction of freight costs • Higher Organic revenue on strategic products • US, Latam and Europe Revenue increased in FY24, more than offsetting the substantial • Full ye
Slide 10: Jolly Scarpe Acquisition Expands Lakeland's Fire Service Portfolio
Jolly Scarpe Acquisition1 Expands Lakeland’s Fire Service Portfolio Company Background and Product Portfolio Acquisition Highlights Headquarters • Montebelluna, Italy • Premium product line with a global reputation for quality and design Product Focus • Fire, police, industrial, and military boots •
Slide 11: Lakeland Revenue Mix – Historical and Pro Forma with Acquisitions
Lakeland Revenue Mix– Historical and Pro Forma with Acquisitions Lakeland Organic FY23 Lakeland Organic with Pacific Helmets, Jolly Scarpe Lakeland Organic FY24 and LHD Group (Pro Forma) 6% 8% USA USA USA 11% 17% Asia 11% Asia Asia 10% 44% Europe 44% Europe 8% 32% Europe GEOGRAPHY Latin America 13%
Slide 12: Lakeland's Strategic Priorities
Lakeland’s Strategic Priorities • Investing resources in high growth geographies Building a Premier Global • Commitment to product line enhancements Fire Brand • Optimizing operations and sales channels • Adding product line extensions and innovative new products Expanding Portfolio and • Expanding
Slide 13: FQ4 and Fiscal Year Key Takeaways
FQ4 and Fiscal Year Key Takeaways Fiscal fourth quarter results included continued revenue growth in key geographic markets and product lines, including 18% growth in fire service in Q4 and 80% for FY24. Q4 Adjusted EBITDA excluding FX up 85% vs. Q4 FY23. Full- year FY24 Adjusted EBITDA excludin
Slide 14: Why Invest in Lakeland?
Why Invest in Lakeland? Positioned for sustainable growth, driven by a focus on organic and inorganic opportunities Significant upside in growing global fire market, as well as other higher value-added products and segments Strategic competitive and manufacturing advantages Healthy M&A pipeline
Slide 15: Appendix
Appendix € Lakeland
Slide 16: Fiscal 2024 Fourth Quarter and Full Year Financial Summary
Fiscal 2024 Fourth Quarter and Full Year Financial Summary THREE MONTHS ENDED TWELVE MONTHS ENDED JANUARY 31, JANUARY 31, 2024 2023 Variance 2024 2023 Variance Net sales $31,239 $28,997 7.73% $124,688 $112,846 10.49% Gross Margin 35.87% 37.46% -159bps 41.06% 40.63% 43bps Adjusted EBITDA $1,770 $1,85
Slide 17: Non-GAAP Reconciliation – Q4 and Full Year
Non-GAAP Reconciliation– Q4 and Full Year THREE MONTHS ENDED JANUAR TWELVE MONTHS ENDED 31, JANUARY 31, 2024 2023 2024 2023 Net Income to EBITDA Net income (loss) -$976 $184 $5,426 $1,873 Interest $30 $11 $52 $37 Taxes $1,253 -$12 $3,930 $3,598 Depreciation and amortization $592 $417 $2,291 $1,505 E
Slide 18: Non-GAAP Reconciliation – Q4 and Full Year
Non-GAAP Reconciliation– Q4 and Full Year THREE MONTHS ENDED TWELVE MONTHS ENDE JANUARY 31, JANUARY 31, 2024 2023 2024 2023 Gross Margin excluding inventory adjustment: Gross Profit 11,205 10,862 51,192 45,849 Inventory adjustment 2,712 2,712 Divided by net sales $31,239 $28,997 $124,688 $112,847 Gr
Slide 19: Protect Your People
¥ Lakeland Protect Your People