Phibro Animal Health Corporation · NASDAQ:PAHC
Phibro Animal Health — Q4 FY2018 Earnings Presentation
16 slides from Phibro Animal Health's earnings presentation, Aug 28, 2018
Slide 1: Phibro Animal Health Corporation Fourth Quarter Webcast and Conference Call
Phibro Animal Health Corporation Fourth Quarter – June 30, 2018 U.S. toll-free +1-877-853-5634 Webcast and Conference Call International toll +1-315-625-6893 August 28, 2018 Conference ID: 69678745 August 28, 2018 Webcast and Conference Call
Slide 2: Cautionary Statements
Cautionary Statements Forward-Looking Statements This communication contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical or current fact included in this report are forward-looking statements. Forward-looking statements d
Slide 3: Opening Remarks and Financial Review
Opening Remarks and Financial Review Jack Bendheim Chairman, President, Chief Executive Officer Richard Johnson Chief Financial Officer 3 August 28, 2018 Webcast and Conference Call
Slide 4: GAAP and Non-GAAP Financial Information
GAAP and Non-GAAP Financial Information Reported results are presented in accordance with GAAP Adjusted results are GAAP results adjusted to exclude: - Acquisition-related items, including intangible amortization, cost of goods sold, accrued compensation costs, transaction costs and accrued interest
Slide 5: Highlights Q4 – June 2018
Highlights Q4 – June 2018 For the three months ended Change Sales growth across all segments 2018 2017 June 30 (in millions, except per share amounts and percentages) Net income and diluted EPS growth Net sales $ 211.8 $ 194.8 $ 17.0 9% - Operating growth; favorable income tax items; loss on debt ex
Slide 6: Selected Line Items Q4 – June 2018
Selected Line Items Q4 – June 2018 Adjusted gross profit increased on volume growth For the three months ended June 30 2018 2017 Change (in millions, except per share amounts and percentages) - Animal Health favorable mix offset by Mineral Nutrition reduced margins. Net sales $ 211.8 $ 194.8 $ 17.0
Slide 7: Animal Health Q4 – June 2018
Animal Health Q4 – June 2018 Nutritional specialties Sales - Poultry sector growth For the three months ended 2018 2017 Change - Dairy sector declined due to weak industry conditions. June 30 (in millions, except percentages) Vaccines Sales MFAs and other $ 92.1 $ 84.2 $ 7.9 9% - Volume growth in in
Slide 8: Other Segments Q4 – June 2018
Other Segments Q4 – June 2018 For the three months ended 2018 2017 Change June 30 (in millions, except percentages) Mineral Nutrition Mineral Nutrition Net sales $ 60.3 $ 52.8 $ 7.5 14% – Sales growth on higher average selling prices due to increased commodity pricing Adjusted EBITDA $ 3.9 $ 4.4 $ (
Slide 9: Selected Line Items Year – June 2018
Selected Line Items Year – June 2018 Net sales For the tw elve months ended June 30 2018 2017 Change - 7% Animal Health sales growth driven by 21% (in millions, except per share amounts and percentages) international growth Net sales $ 820.0 $ 764.3 $ 55.7 7% Adjusted gross profit increased on volum
Slide 10: Capitalization, Capital Allocation and Guidance
Capitalization, Capital Allocation and Guidance June 30, 2018 2.4x leverage ratio at June 30, 2018 - $314 million total debt - $129 million LTM Adjusted EBITDA $79 million cash and short-term investments on hand at June 30, 2018 $5 million source of cash before financing for the June 2018 quarter, e
Slide 11: Guidance for the June 2019 Year
Guidance for the June 2019 Year Compared with the June 2018 year For the year ending June 30 2019 2018 Change from 2018 (in millions, except per share amounts and percentages) Net sales - Animal Health segment $ 550 - $ 565 $ 532 $ 18 - $ 33 3% - 6% Net sales $ 850 - $ 875 $ 820 $ 30 - $ 55 4% - 7%
Slide 12: Guidance for the June 2019 Year
Guidance for the June 2019 Year We expect consolidated net sales of $850 - $875 million, an increase of up to 7%. We expect the Animal Health segment to grow by up to 6% - Nutritional specialties to grow at double-digit rates - Vaccines to grow at a high single-digit rate; international sales will c
Slide 13: Guidance for the June 2019 Year
Guidance for the June 2019 Year We expect SG&A to increase by up to 14%, as we make strategic investments to develop future growth, including - New development, additional registrations and increased volumes of existing nutritional specialties and vaccines technologies, including expansion into new
Slide 14: Guidance for the June 2019 Year
Guidance for the June 2019 Year We expect the adjusted effective income tax rate will be approximately 26.0% - 27.0% for fiscal year 2019, a decrease compared to the 27.4% adjusted effective income tax rate for fiscal year 2018. Our federal statutory income tax rate will be 21% for fiscal 2019, comp
Slide 15: Q&A Session
Q&A Session 15 August 28, 2018 Webcast and Conference Call
Slide 16: © 2018 Phibro Animal Health Corporation trademarks notice
© 2018 Phibro Animal Health Corporation, Teaneck, NJ 07666 Phibro; Phibro logo design; Healthy Animals. Healthy Food. Healthy World.; AB20; Animate; Aviax; Cellerate Yeast Solutions; Gemstone; Lactrol; Magni-Phi; Mecadox; MJPRRS; Neo-Terra; Neo- Terramycin; Neo-TM; Nicarb; OmniGen-AF; PAQ-Gro; Stafa
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