Slide 1: Safe Harbor and Basis of Presentation
Safe Harbor and Basis of Presentation Forward-Looking Statement Safe Harbor - This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on estimates and assumptions made by our
Slide 2: GMS at a Glance
GMS at a Glance Based on FY2015 results. Wallboard share based on volume. Ceilings share based on sales. GMS Overview Fiscal Q1 2017 Net Sales Breakdown #1 North American specialty distributor of interior construction products (1) 13% market share in wallboard 14% market share in ceilings Critical l
Slide 3: Q1 2017 Highlights
Q1 2017 Highlights 4 Above-Market Growth Attractive Capital Structure Accretive Acquisitions Continued Margin Improvement Net sales increased 21.5% to $549.8 million Base business net sales up 9.2% despite one fewer shipping day Wallboard unit volume grew 20.0% to 818 million square feet Net income
Slide 4: Attractive Acquirer with Significant Consolidation Opportunity
Attractive Acquirer with Significant Consolidation Opportunity 5 Acquisition Strategy FY 2017 GMS Acquisitions Acquisition Rationale Industry Structure: Large, highly fragmented industry comprised of ~400 competitors Similar business operations enable efficient integration Limited number of scaled p
Slide 5: Continue to Use Multiple Levers to Drive Growth
Continue to Use Multiple Levers to Drive Growth 6 (5) Net Sales ($ mm) Fiscal Q1 2017 Net Sales Strong track record of executing profitable growth strategy (5) When calculating our “base business” results, we exclude any branches that were acquired in the current fiscal year, prior fiscal year and t
Slide 6: One-Stop-Shop Outsized Impact on Other Products Sales
One-Stop-Shop Outsized Impact on Other Products Sales “One-stop-shop” for the Interior Contractor Interior Contractor Wallboard Steel Framing Joint Compound Tools Safety Products Insulation GMS sells a complementary and complete product offering to the interior contractor who installs wallboard, cei
Slide 7: Margin Expansion in Fiscal Q1 2017
Margin Expansion in Fiscal Q1 2017 8 Gross Profit ($ mm) FY 2016 Gross Profit & Margin Tailored investments in Yard Support Center, IT and branch talent to support our growth are paying off (5) Adj. EBITDA ($ mm) FY 2016 Adjusted EBITDA (1) For a reconciliation of Adj. EBITDA to Net Income (loss), t
Slide 8: Attractive Capital Structure Post IPO
Attractive Capital Structure Post IPO Leverage of 3.4x Net Debt / LTM Adj. EBITDA as of 7/31/16, after use of $157.2 million net proceeds from IPO and $2.8 million cash on hand to pay off $160 million Second Lien Term Loan Continued improvement in credit metrics from 6.0x Net Debt / LTM Adj. EBITDA
Slide 9: Attractive Capital Structure Post IPO
Attractive Capital Structure Post IPO Commentary Leverage of 3.4x Net Debt / LTM Adj. EBITDA as of 7/31/16, after use of $157.2 million net proceeds from IPO and $2.8 million cash on hand to pay off $160 million Second Lien Term Loan Continued improvement in credit metrics from 6.0x Net Debt / LTM A
Slide 10: Summary Quarterly Financials
Summary Quarterly Financials Note: Fiscal year end April 30. 11 (In millions, except per share data) 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 (Unaudited) Wallboard Volume (MSF) 681 700 646 816 2,843 818 Wallboard Price ($ / '000 Sq. Ft.) 310 $ 306 $ 305 $ 305 $ 306 $ 307 $ Wallboard 211 $ 214 $ 197 $ 249 $ 871
Slide 11: Quarterly Net Sales
Quarterly Net Sales Note: Fiscal year end April 30. When calculating our “base business” results, we exclude any branches that were acquired in the current fiscal year, prior fiscal year and three months prior to the start of the prior fiscal year. FY16 quarterly sales from acquisitions have been up
Slide 12: Quarterly Net Income to Adjusted EBITDA
Quarterly Net Income to Adjusted EBITDA GAAP Adjusted EBITDA Reconciliation Commentary Represents non-cash compensation expenses related to stock appreciation rights agreements Represents non-cash compensation expense related to changes in the fair values of noncontrolling interests Represents non-c
Slide 13: Quarterly Cash Flows
Quarterly Cash Flows 14 ($ in millions) (Unaudited) 1Q16 2Q16 3Q16 4Q16 FY16 1Q17 Net income (loss) $ 3.0 $ 2.8 $ (2.2) $ 8.9 $ 12.6 $ 9.2 Non-cash changes (2.6) 17.2 12.2 35.4 62.2 (5.0) Changes in primary working capital components: Trade accounts and notes receivable (21.8) (2.1) 25.8 (29.2) (27.
Slide 14: SG&A Adjustments Table
SG&A Adjustments Table 15 GAAP SG&A Reconciliation Commentary Represents non-cash compensation expenses related to stock appreciation rights agreements Represents non-cash compensation expense related to changes in the fair values of noncontrolling interests Represents non-cash equity-based compensa
Slide 15: SG&A Adjustments Table
SG&A Adjustments Table GAAP SG&A Reconciliation ‘A. Represents non-cash compensation (Unaudited) expenses related to stock appreciation (Sin millions) rights agreements B._ Represents non-cash compensation SGEA- Reported ‘expense related to changes in the fair Adjustments values of noncontroliing in
Slide 16: www
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