Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Q4 2023 Earnings Presentation
11 slides from Unifi, Inc. New's earnings presentation, Aug 24, 2023
Slide 1: Conference Call Presentation: Fourth Quarter and Fiscal Year Ended July 2, 2023
Exhibit 99.2 CONFERENCE CALL PRESENTATION Fourth Quarter and Fiscal Year Ended July 2, 2023 (Unaudited Results) 1
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Forward-Looking Statements Certain statements included herein contain “forward-looking statements” within the meaning of federal securities laws about the financial condition and results of operations of the Company that are based on management’s beliefs, assumptions, and expec
Slide 3: Q4 Fiscal 2023 Overview
Q4 FISCAL 2023 OVERVIEW (compared to Q3 Fiscal 2023) Revenue Adjusted EPS(1) Adj. EBITDA(1) REPREVE Fiber % of Sales $151.1M ($0.39) $1.7M vs. vs. vs. 29% vs. $156.7M ($0.25) $5.0M 32% Improved underlying performance is masked by continued demand weakness reducing revenue and profitability Stabi
Slide 4: REPREVE Fiber Sales
REPREVE FIBER SALES as a % of Net Sales and Millions of $s Annual Quarterly 37% 36% 40% % of Net Sales % of Net Sales 37% 36% 31% 30% 31% 31% 32% 29% 25% 27% $180 $186 $246 $293 $186 $71.9 $81.5 $71.9 $67.7 $49.2 $42.9 $49.6 $44.5 2019 2020 2021 2022 2023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Fiscal Year FY 2022
Slide 5: Net Sales Overview
NET SALES OVERVIEW Year-Over-Year, $s in Millions Consolidated Americas Brazil Asia $217.6 $137.8 $151.1 $94.8 $44.8 $35.0 $27.1 $29.1 ↓30.6% ↓31.2% ↓22.4% ↓35.0% Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Volume (20.7%) Volume (18.3%) Volume (2.6%) Volume (34.2%) Price/Mix (8.6
Slide 6: Gross Profit Overview
GROSS PROFIT OVERVIEW Year-Over-Year, $s in Millions Consolidated Americas Brazil Asia 14.50% $18.4 12.50% $10.0 14.0% 12.0% $6.0 10.50% $8.0 $8.6 10.0% 8.0% $4.2 8.50% $6.0 $3.7 8.4% 6.0% 6.3% 6.50% $4.0 $6.0 4.50% $2.0 4.0% $1.7 13.4% 14.5% $0.1 2.0% 10.6% 4.0% 2.50% $0.0 0.0% 6.1% 0.1% Q4 FY22 Q4
Slide 7: Net Sales Overview
NET SALES OVERVIEW Quarter-Over-Quarter, $s in Millions Consolidated Americas Brazil Asia $156.7 $151.1 $101.9 $94.8 $27.4 $29.1 $27.4 $27.1 ↓3.6% ↓7.0% ↓1.0% ↑6.2% Q3 FY23 Q4 FY23 Q3 FY23 Q4 FY23 Q3 FY23 Q4 FY23 Q3 FY23 Q4 FY23 Volume 2.8% Volume (0.5%) Volume 4.0% Volume 8.0% Price/Mix (6.9%) Pric
Slide 8: Gross Profit Overview
GROSS PROFIT OVERVIEW Quarter-Over-Quarter, $s in Millions Consolidated Americas Brazil Asia 12.00% $9.7 10.00% 8.00% $6.0 6.00% $4.1 $4.2 $3.2 6.2% 4.00% $2.4 4.0% 2.00% 3.1% $1.7 15.0% 14.5% $0.1 8.7% 0.00% 6.1% 0.1% Q3 FY23 Q4 FY23 Q3 FY23 Q4 FY23 Q3 FY23 Q4 FY23 Q3 FY23 Q4 FY23 Gross Profit $ Gr
Slide 9: Balance Sheet & Liquidity
BALANCE SHEET & LIQUIDITY $s in Millions Cash Free Cash Flow $53 $50 $47 Fiscal 2023 Highlights Q4 FY22 Q3 FY23 Q4 FY23 Refinanced credit facility for -$7 increased liquidity and flexibility -$7 -$8 Q4 FY22 Q3 FY23 Q4 FY23 Reset capital expenditures levels to align with economic circumstances fo
Slide 10: Fiscal 2024 Initiatives
FISCAL 2024 INITIATIVES COMMERCIAL OPERATIONAL Diversifying Americas Segment portfolio with Increasing leverage of eAFK Evo installations Chip and Flake revenue and automation Transforming the pricing and execution Reducing employee headcount through components of the sales process attrition
Slide 11: Q1 Fiscal 2024 Financial Outlook
Q1 FISCAL 2024 FINANCIAL OUTLOOK $s in Millions Key Financial Metrics Q4 FY23 Results Q1 FY24 Outlook Net Sales $151.1 Generally consistent Adjusted EBITDA(1) $1.7 Generally consistent Effective Tax Rate - 0.6% Continued Volatility Capital Expenditures $4.0 Trend downward Remain Focused on Long-Term