Goodfood Market Corp. · TSX:FOOD
Goodfood Market — Q3 2020 Earnings Presentation
14 slides from Goodfood Market's earnings presentation, Jul 8, 2020
Slide 1: Q3 Fiscal 2020
FISCAL 2020 July 8, 2020 me O///LSLLL LA.
Slide 2: Caution Regarding Forward-looking Statements
Caution Regarding Forward-looking Statements This release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to achiev
Slide 3: Q3-20 – Key Highlights
Q3-20 – Key Highlights Goodfood delivers Net Income and positive Adj. EBITDA for the first time on the back of consistently strong growth and margin improvement (in millions of Canadian $ except active subscribers and margins) Q3-20 Q3-19 Y-o-Y Active subscribers (1) 272,000 189,000 44% Revenue $8
Slide 4: Q3-20 – Key Business Highlights
Q3-20 – Key Business Highlights Delivered record financial results driven by strong and sustained demand • GMS for the quarter standing at $99.8M, run-rate GMS(1) at $418M, turning in Net Income and positive Adj. EBITDA(1) for the first time Expanded operating footprint to serve Canadians better • S
Slide 5: COVID-19 Impact
COVID-19 Impact The COVID-19 pandemic has changed how Canadians shop for food and grocery • Faster shift to online e-commerce grocery, accelerating adoption and driving more frequent and larger orders • Goodfood’s e-commerce and fulfilment models have supported increased demand • Current shift will
Slide 6: Subscribers and Revenue
Q3-20 – Subscribers(1) and Revenue Increased order rates and basket sizes led to a revenue growth surpassing significantly subscriber growth Active Subscribers(1) Revenue End of period C$ millions LTM Revenue(1): $247m $86.6 44% 272,000 74% 189,000 $49.9 76,000 $22.2 Q3-18 Q3-19 Q3-20 Q3-18 Q3-19 Q3
Slide 7: Gross Merchandise Sales
Q3-20 – Gross Merchandise Sales(1) Goodfood surpassed the $400 million GMS run-rate(1) milestone as at May 31, 2020 to hit a new record on the back of nearly $100 million of GMS(1) in Q3-20 Gross Merchandise Sales(1) GMS Run-rate(1) C$ millions C$ millions $99.8 $418.1 63% 63% $61.2 $256.5 $26.2 $10
Slide 8: Gross Profit and Adjusted Gross Profit
Q3-20 – Gross Profit and Adjusted Gross Profit(1) Gross Profit and Adj. Gross Profit(1) increased substantially even as operational pressures have limited Gross Margin expansion and reduced Adj. Gross Margin(1) Gross Profit Adjusted Gross Profit(1) & Gross Margin $45.0 & Adjusted Gross Margin(1) 45.
Slide 9: Net Income and Adjusted EBITDA
Q3-20 – Net Income and Adjusted EBITDA(1) Investments in market share leadership, scale, penetration, automation and density demonstrating operating leverage and, combined with increased demand, leading to Net Income and positive Adj. EBITDA(1) for the first time in Company history $4.0 Net Income A
Slide 10: CFO and CAPEX
Q3-20 – CFO and CAPEX Driven by increased profitability, Cash Flow Provided by Operations continues to build positive momentum while Goodfood is still on track to invest around $10 million in capital expenditures for the year Cash Flow Provided by Operations CAPEX C$ millions C$ millions $8.6 $1.9 $
Slide 11: Outlook
Outlook The current pandemic has changed consumer habits across multiple markets • Shift to e-commerce across multiple consumer markets, with grocery a particularly strong area of growth • Translating into less trips to physical grocery stores • Goodfood’s e-commerce and fulfilment models have suppo
Slide 12: Q &A
Q &A 12
Slide 13: Metrics and Non-IFRS Financial Measures
Metrics and Non-IFRS Financial Measures Goodfood reports its financial results in accordance with International Financial Reporting Standards ("IFRS"). Goodfood also uses non-IFRS measures in this presentation that do not have any standardized meaning prescribed by IFRS, including gross merchandise
Slide 14: Company Contact – Investor Relations
COMPANY CONTACT – INVESTOR RELATIONS Philippe Adam, Roslane Aouameur, Chief Financial Officer Director, Financial Planning & Investor Relations 1 (855) 515-5191 1 (855) 515-5191 IR@makegoodfood.ca IR@makegoodfood.ca