Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Q2 2024 Earnings Presentation
14 slides from Lakeland Industries's earnings presentation, Sep 7, 2023
Slide 1: Fiscal Second Quarter 2024 Financial Results Call
€ Lakeland Protect Your People® Fiscal Second Quarter 2024 Financial Results-Call September 7, 2023 NASDAQ: LAKE | LAKELAND.COM
Slide 2: Safe Harbor Statement
Safe Harbor Statement With the exception of historical information, the statements set forth in this presentation include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risk and uncertainties. The Company wishes to caution that a nu
Slide 3: Lakeland Overview
Lakeland Overview (Nasdaq: LAKE) What We Do FY2023 Full Year Revenue Global manufacturer of quality, cost-effective, and mission-critical personal protective clothing solutions that protect people at work and in their communities = USA mAsia = Other NA. GEOGRAPHY Europe Key Statistics Latin America
Slide 4: Focus on High Value Applications
Focus on High Value Applications Leveraging core product strengths to increase penetration in High Value markets Product Lines | HIGH-VISIBILITY a — Applications * Municipal Fire * Energy * Utilities + Energy * Clean Room * Volunteer Fire * Utilities * Petrochemical * Utilities * Energy * Search & R
Slide 5: Fiscal 2024 Second Quarter Highlights
Fiscal 2024 Second Quarter Highlights Q2-FY24 Highlights Q2-FY24 Revenue * Net sales of $33.1 million and gross margin of 42.9% * High-value, strategic product line growth, led by a 202% increase 7% in fire service oe a = Asia Revenue $33.1 million = Other NA. Gross Margin 42.9% GEOGRAPHY Europe Adj
Slide 6: Fiscal 2024 Second Quarter Financial Highlights
Fiscal 2024 Second Quarter Financial Highlights Adjusted EBITDA & Net Sales Gross Margin Pilleted ES Adjusted EBITDA Margin $4.2 $33.1 42.9% $0.32 12.6% $2.5 9.0% $28.2 41.3% L] a Fv24 — FY24 FY23 FY24 $(0.11) FY23 FY'24 * Net sales increased $4.9 million, or 17.3% * — Sales of fire service products
Slide 7: Gross Margin % and Adjusted EBITDA
GROSS MARGIN % ADJUSTED EBITDA • • • • • •
Slide 8: FQ2 Key Takeaways
FQ2 Key Takeaways Fiscal second quarter results included revenue growth in key geographic markets and product lines, including 202% growth in fire service. Vv Adjusted EBITDA grew ~$1.7M versus Q2FY23 as higher gross profit more than offset higher SG&A. Eagle Technical Products delivered $0.9M of EB
Slide 9: Eagle Technical Products Acquisition Enhances Lakeland's Product Portfolio
Eagle Technical Products Acquisition’ Enhances Lakeland’s Product Portfolio and Expands Geographical Reach Company Background and Product Portfolio Acquisition Highlights Headquarters + Stockport, UK Complementary product lines to Lakeland’s - existing portfolio that greatly benefit Lakeland’s diffe
Slide 10: LAKE Investment Highlights
LAKE Investment Highlights ned for Sustainable Growth Driven by Strategic Operational & Sales Initiatives Targeting high single digit revenue growth, driven by strong long term growth trends and product segment focus Investments in manufacturing capabilities enables production flexibility to facilit
Slide 11: Appendix
Appendix ¢Lakeland
Slide 12: Fiscal 2024 Second Quarter Financial Summary
Fiscal 2024 Second Quarter Financial Summary THREE MONTHS ENDED JULY 31, 2023 2022 Variance Net sales $33,071 $28,184 +17.3% Gross Margin 42.9% 41.3% +160bps Adjusted EBITDA $4,163 $2,532 +64.4% Adjusted EBITDA Margin 12.6% 9.0% +360bps EPS $0.33 $(0.11) (6000's Except Sha ¢Lakeland
Slide 13: Non-GAAP Reconciliation — Q2
Non-GAAP Reconciliation — Q2 2023 2022 Net Income to EBITDA Net income (loss) $2,465 (5870) Interest 1 13 Taxes 1,199 2,610 Depreciation and amortization 589 354 EBITDA $4,254 $2,107 EBITDA to Adjusted EBITDA (excluding non-cash expenses) EBITDA $4,254 $2,107 Equi ti :quity compensation 38 383 Other
Slide 14: Non-GAAP Reconciliation — Q2
Non-GAAP Reconciliation — Q2 (6000's Except Sha ¢Lakeland THREE MONTHS ENDED JULY 31, 2023 2022 Adjusted EBITDA Margin Adjusted EBITDA $4,163 $2,532 Divided by net sales $33,071 $28,184 Adjusted EBITDA Margin 12.6% 9.0%