Slide 1: Company Overview – June 1, 2012
Exhibit 99.1 Company Overview – June 1, 2012
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Alico’s current expectations
Slide 3: Company Highlights
Company Highlights • Agribusiness company with an EPS (diluted) Trend emphasis on citrus $3.00 • A leading citrus grower in Florida with 11,000 acres $2.51 $2.50 – Increasing yields – Decreasing unit production costs $2.00 $1.82 – Significant industry expertise • Favorable Florida citrus market $1.5
Slide 4: Quick Overview of Alico, Inc.
Quick Overview of Alico, Inc. • Formed in 1960 as a land management company operating in central and southwest Florida • Owns approximately 140,000 acres in five Florida counties • Agricultural lines of business include Citrus Groves, Citrus Supply Chain Management, Sugarcane and Cattle • Other oper
Slide 5: Company Revenue Cycles
Company Revenue Cycles Fiscal Year Q1 Q2 Q3 Q4 Ending 12/31 Ending 3/31 Ending 6/30 Ending 9/30 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Harvest Early/Mid Varieties of Oranges Harvest Valencia Oranges Harvest Sugarcane Deliver Beef Cattle 5
Slide 6: Consolidated Financial Summary
Consolidated Financial Summary Three Year Trend (in millions, except per share data) Fiscal Years Ended September 30, 2009 2010 2011 CAGR Operating Revenue $ 89.5 $ 79.8 $ 98.6 3.3% Operating Expense 87.7 69.9 75.2 -5.0% Gross Profit 1.8 9.9 23.4 133.6% General and Administrative Expenses 9.1 6.5 8.
Slide 7: Consolidated Financial Summary – First Half FY2012
Consolidated Financial Summary First Half FY2012 (in millions, except per share data) Six Months Ended March 31, 2011 2012 % Change Operating Revenue $ 53.0 $ 80.2 51% Operating Expense 42.5 60.4 42% Gross Profit 10.6 19.8 88% General and Administrative Expenses 3.6 3.9 7% Operating Income 7.0 16.0
Slide 8: Citrus Market Overview
Citrus Market Overview • Total U.S. orange production – 206 million(i) boxes • Total Florida orange production – 146 million(i) boxes – Alico grows and harvests approximately 4.4 million boxes of oranges and 0.2 million boxes of grapefruit and other specialty fruit – Alico handles approximately 3.5
Slide 9: Industry Trends: Florida Citrus Production Trend
Industry Trends Florida Citrus Production Trend 300 $3.00 250 $2.50 in millions of boxes 200 $2.00 per Lb Solid 150 $1.50 100 $1.00 50 $0.50 - $- Actual Boxes Projected Boxes Actual Price/Lb Solid (2011/12 Mutuals Mostly estimate) Sources – Florida Agricultural Statistics Service, Allen Morris 9
Slide 10: Industry Trends: Florida Citrus Production Trend
Industry Trends Florida Citrus Production Trend 300 $3.00 250 $2.50 in millions of boxes 200 $2.00 per Lb Solid 150 $1.50 100 $1.00 50 $0.50 - $- Actual Boxes Projected Boxes Actual Price/Lb Solid Alico Price/Lb Solid (2011/12 Mutuals Mostly estimate) (2011/12 estimated) Sources – Florida Agricultur
Slide 11: Alico's Historical Citrus Returns
Alico’s Historical Citrus Returns Historical Citrus Return on Assets with Groves at Book Value $140 50.0% 45.0% $120 40.0% $100 35.0% Return on Asssets 30.0% in millions $80 25.0% $60 20.0% $40 15.0% 10.0% $20 5.0% $- 0.0% FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 Citrus
Slide 12: Alico's Historical Citrus Returns
Alico’s Historical Citrus Returns Historical Citrus Return on Assets with Groves at Estimated Replacement Cost $140 50.0% 45.0% $120 40.0% $100 35.0% Return on Asssets 30.0% in millions $80 25.0% $60 20.0% $40 15.0% 10.0% $20 5.0% $- 0.0% FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY201
Slide 13: Leading Citrus Grower: Production Trends
Leading Citrus Grower Production Increases Production Trends • Alico production increases 40.0 7.0 over last two harvest 6.6 seasons: 35.0 6.4 6.3 6.5 – 28% increase in boxes(i) 30.0 28.8 – 33% increase in Lbs Solid(i) 25.0 24.2 6.0 • Florida production up 9.3% in millions of units in boxes over the
Slide 14: Leading Citrus Grower: Production Costs Per Box
Leading Citrus Grower Production Costs Per Box Revenue and Production Cost per Box • Alico production costs Trends per box: $14.00 – 18%(i) decrease in cost per $11.90 $12.00 $11.67 box over last two harvest $10.00 $10.05 seasons – Lower production costs $8.00 per box than Brazil $6.00 average(ii) B
Slide 15: Significant Industry/Management Experience
Leading Citrus Grower Significant Industry/Management Experience • JD Alexander, CEO – Over 30 years experience in Florida citrus • Dr. Ken Smith, COO – Over 23 years in agriculture • Daniel Sutton, Director of Citrus Operations – Over 18 years experience in Florida citrus • Chris Moore, President o
Slide 16: Revenue and Gross Profit by Segment
Revenue and Gross Profit by Segment Three Year Trend (in millions) Fiscal Years Ended September 30, 2009 2010 2011 CAGR Revenue: Bowen (Citrus Supply Chain Management) $ 28.0 $ 28.9 $ 36.1 8.9% Citrus Groves 36.0 36.5 47.1 9.3% Sugarcane 7.6 4.1 7.8 0.7% Cattle 8.2 4.0 4.6 -17.5% Real Estate 1.4 - -
Slide 17: Revenue and Gross Profit by Segment – First Half FY2012
Revenue and Gross Profit by Segment First Half FY2012 (in millions) Six Months Ended March 31, 2011 2012 % Change Revenue: Bowen (Citrus Supply Chain Management) $ 18.9 $ 30.8 62.8% Citrus Groves 24.6 33.5 36.0% Sugarcane 7.5 13.7 83.1% Cattle 0.4 0.6 33.6% Real Estate - - NM Land Leasing and Rental
Slide 18: FY2012 Estimated Citrus Results
FY2012 Estimated Citrus Results Citrus Revenue Estimate Bridge • 15% increase in (in millions) production of early/mid $60.0 varieties versus prior year $55.0 • 27% increase in $(0.6) production of Valencias $8.9 $50.0 versus prior year • Production increases due $45.0 $55.4 in large part to $40.0 c
Slide 19: FY2012 First Half Sugarcane and Cattle Results
FY2012 First Half Sugarcane and Cattle Results • Sugarcane – Revenue of $13.7MM versus $7.5MM last year – Gross profit of $3.1MM versus $0.6MM last year – Standard Tons harvested increased 52% • Cattle – Revenue of $0.6MM versus $0.4MM last year – Gross profit of $0.3MM – Approximately 752M pounds s
Slide 20: Full Year FY2012 Estimate
Full Year FY2012 Estimate Fiscal Years Ended September 30, 2009 2010 2011 2012E CAGR Revenue $ 89.5 $ 98.6 $ 79.8 $ 125.8 8.9% Gross Profit by Segment: Bowen (Citrus Supply Chain Management) 1.3 0.7 1.0 1.2 -2.7% Citrus Groves 8.7 10.7 19.3 24.1 28.9% Sugarcane (2.2) 0.4 1.0 3.0 8.2% Cattle (2.0) 0.
Slide 21: Alico's Strategic Assessment
Alico’s Strategic Assessment Citrus Sugarcane • Brands require Florida • Government supported oranges industry – Tropicana and Minute Maid • Most profitably grown on • Highest priced muck soils • Consumer preferred • Grown to over half the orange • Lower long-term expected juice market returns • Mar
Slide 22: Strategic Vision and Initiatives
Strategic Vision and Initiatives • Market and sell under-productive assets • Invest in citrus groves to increase citrus production and partner with marketers – Plant groves on owned land – 10,000 additional acres – Acquire groves in Florida – 10,000 additional acres Current Land Utilization: Gross A