Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Midwest IDEAS Conference (August 2023)
19 slides from Lakeland Industries's conference presentation, Aug 21, 2023
Slide 1: Lakeland - Midwest IDEAS Conference
¢ Lakeland Protect Your People” Midwest IDEAS Gonference 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 forwarctlooking statements within the meaning of the Private Securit s Litigation Reform Act of 1995 that involve risk and uncertainties. The Company wishes to caution that a num
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 ‘fa ne ‘ * an 10% G that protect people at work and in their communities ee 7% otherNA ae GEOGRAPHY ae Key Statistics oe Ot
Slide 4: LAKE Investment Highlights
LAKE Investment Highlights Positioned for Sustainable Growth Driven by Strategic Operational & Sales Initiatives + Targeting high single digt revenue growth, driven by song long term growth trends and product segment focus + Investmentsin manufacturing capabiltes enables production flexibility to fa
Slide 5: Sustainable Long-Term Growth Driven by Operational Enhancements
Sustainable Long-Term Growth Driven by Operational Enhancements Growth and Performance Improvement Initiatives (1) Focus on new product development & shift in market focus * Higher margin segments: * Fire Service * Cleanroom suits for Big Pharma + Electric arc protective apparel for Utilities ~ High
Slide 6: Achieving Material Improvement in Profitability
Achieving Material Improvement in Profitability ‘met Sales (in millions of dolars) ‘Adjusted EBITDA Margin % Range) —=Gross Margin | $200 50% $180 45% $160 40% $40 35% $120 30% $100 25% $80 20% $60 15% $40 10% $20 5% so 0% FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013
Slide 7: Setting New Post-COVID Margin Baseline
Setting New Post-COVID Margin Baseline $50 60% Pandemic Era $45 50% so 40% $35 = 30% 325 20% 320 10% 315 % s10 35 10% (03-FY2019 4-F¥2019 Q-FY2020 02-F¥2020 03-2020 04-FY2020 (01-FY2021 2-FY2021 03-FY2021 (4-FY2021 Q-FY2022 2-FY2022 03-#Y2022 (94-7202 O1-FY2023 02-FY2023 03-FY2023 (4-FY2023 Q1-FY202
Slide 8: Focus on High Value Applications
Focus on High Value Applications Leveraging core product strengths to increase penetration in High Value markets Product Lines Applications + Municipal Fire + Energy + Utilities + Clean Room + Volunteer Fire + Utilities + Petrochemical + Energy + Search & Rescue + Petrochemical + Clean Room + Transp
Slide 9: Large Markets with Strong Tailwinds
Large Markets with Strong Tailwinds Key Market Dynamics ~$6 Billion Total Addressable Market with a Mid-to-High-Single-Digit Growth Rate? INCREASING RELEVANCE OF SAFETY AND PPE + Increased development and enforcement of safety and environmental standards globally * Global acceptance of PPE increasin
Slide 10: Lakeland's Competitive Advantages
Lakeland’s Competitive Advantages ] Owned, global manufacturing a “ ~~ Well-Capitalized Focused, Yet and Healthy iversified Balance Sheet Product Portfolio \ 4 3 ] Geographically Scalable, asset- Diverse Sales light business Platform model Provides us with the ability to rapidly scale-up production
Slide 11: Fiscal 2024 First Quarter Highlights
Fiscal 2024 First Quarter Highlights Q1-FY24 Highlights + Net sales of $28.7 million and gross margin of 43.4% + High-value, strategic product line growth, led by a 103% increase in Fire Revenue $28.7 million Gross Margin 43.4% Adjusted EBITDA $28 million ‘Adjusted EBITDA Margin 9.6% 2025-27 Targets
Slide 12: Eagle Technical Products Acquisition Enhances Lakeland's Product Portfolio
Eagle Technical Products Acquisition! Enhances Lakeland’s Product Portfolio and Expands Geographical Reach yy Background and Product Portfolio Acquisition Highlights Headquarters + Stockport, UK Complementary product lines to Lakeland!’ 4 = existing portfolio that greatly benefit Lakeland’s differen
Slide 13: Appendix
Appendix ¢ Lakeland
Slide 14: Operations Statement - Q1
Operations Statement - Q1 THREE MONTHS ENDED RIL 30, 2023 2022 Net sales $28,700 s27.278 Cost of goods sold 16256 16.222 Gross profit 12444 11,086 ‘Operating expenses 10.506 soz Operating profit 1938 1449 Other income (expense), net (69) 26) Interest expense ie) OF Income before taxes 1961 1414 Inco
Slide 15: Non-GAAP Reconciliation — Q1
Non-GAAP Reconciliation — Q1 THREE MONTHS ENDED April 30, 2023 2022 ‘Netincome to EBITDA Net Income $1320 $1,129 Interest 8 9 Taxes sat 285 Depreciation and amortization 533 425 EBITDA 52.402 $1848 EBITDA to Adjusted EBITDA (excluding non-cash expenses) EBITDA $2402 $188 Equity compensation 407 407
Slide 16: Balance Sheet — Q1
Balance Sheet — Q1 April 30, ASSETS ae ‘Current sets Cash and ash equates Poy ‘Accounts eceiabe net of alowance for Soubrfl accounts of 738 and 36 at ‘Ap 30,2023 ad Snuary 31, 2023 respectively 16856 Tnventones 57486 Prepaid VAT and other tres ae ter coment assets ey ‘Totalcurent sets aga Property a
Slide 17: Income Statement — FY2023
Income Statement — FY2023 12 MONTHS ENDED JANUARY 2023 2022 Net sales $112,846 $118,386 Cost of goods sold 96.997. 81473 Gross profit 545,849 50,913 Operating expenses 40308, 24.866 Operating profit 5541 16,047 (Other income (expense), net 3) 121 Interest expense fev a5) Income before taxes 5471 161
Slide 18: Non-GAAP Reconciliation — FY2023
Non-GAAP Reconciliation — FY2023 2023 2022 Netincome to EBITDA Net income $1873 311372 Interest 37 15 Taxes 3,598 4781 Depreciation and amortization 1,505 11868 Other income (expense) G3) 11 EBITDA $7,046 517915 EBITDA to Adjusted EBITDA (excluding non-cash expenses) EBITDA $7,046 $17,915 Equity com
Slide 19: Lakeland - Protect Your People
¥ Lakeland Protect Your People®
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