Alico, Inc. · NASDAQ:ALCO
Alico — Investor Presentation (January 2025)
13 slides from Alico's investor presentation, Jan 6, 2025
Slide 1: Strategic Transformation
incorporated NASDAQ: ALCO www.alicoinc.com Strategic Transformation January 6, 2025
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not
Slide 3: Citrus Is Still Struggling
Citrus Is Still Struggling Alico, Inc. (“Alico” or “the Company”) today announced a strategic transformation to become a diversified land company and each of its properties is now expected to create profitable agricultural revenue opportunities that are not citrus-related until the Highest and Best
Slide 4: Citrus Investments
Citrus Investments Source: Management’s estimates
Slide 5: Production Has Declined
Production Has Declined Source: USDA, Alico 2015-2024 10-K’s and Management’s estimates for 2025E
Slide 6: An Essential Decision
An Essential Decision Alico invested for profitable growth over the past 12 years: • Approximately 48,000 citrus acres in operation, with approximately 3,200 acres acquired since 2019. • Approximately 5.5 million trees, with approximately 2.5 million planted since 2018. • Approximately 4.5 million t
Slide 7: Impact on Stakeholders
Impact on Stakeholders Customers One of the Company’s supply agreements with Tropicana expires at the end of the current harvest season. The other contract with Tropicana contains a provision that Alico has the right to remove certain acreages from the contract “[i]f, in its best judgment, such acre
Slide 8: Diversified Land Company
Diversified Land Company Management believes that approximately 75% of current Alico acres can remain agricultural-related, and approximately 25% can be transitioned and entitled for non-agricultural purposes. • Alico expects to maintain its commitment to the Florida agriculture industry through div
Slide 9: Steward of 53,000+ Acres
Steward of 53,000+ acres Through these operational changes, Alico will remain a responsible corporate citizen and steward of both our land, as we have done for more than 125 years, and communities in 8 Florida counties. For decades while maintaining our agriculture leadership, Alico has opportunisti
Slide 10: Potential Real Estate Values
Potential Real Estate Values Management believes that there is the potential to realize near term commercial or residential development value for approximately 10% of its acres in the next 5 years, and another 14% of its acres in the long term, while approximately 75% of its acres are expected to re
Slide 11: Alico Real Estate Estimates
Alico Real Estate Estimates Approximately $302 Enterprise Value as of 9/30/2024 Estimate of Potential Value of Land Holdings and Enterprise Value Management Estimate - Highest and Best Use Land Acres HBU Range ($M) Near Term (<2030) Development 5,531 $335 - $380 million Long Term (>2031) Development
Slide 12: A Strategic Transformation
A Strategic Transformation Under this new strategy, Alico will become a diversified land company and each of its properties is expected to create profitable agricultural revenue opportunities that are not citrus-related until the Highest and Best Use for these acres can be realized. • The Company ex
Slide 13: Benefits of Transformation
Benefits of Transformation This strategic transformation is expected to provide Alico with a more stable future while maintaining our deep roots in agriculture by meaningfully reducing our working capital requirements for annual citrus production, reducing financial volatility and allowing the Compa