Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Q4 2024 Earnings Presentation
16 slides from Unifi, Inc. New's earnings presentation, Aug 22, 2024
Slide 1: Conference Call Presentation
Exhibit 99.2 Conference Call Presentation Fourth Quarter and Fiscal Year Ended June 30, 2024 (Unaudited Results) (Amounts and dollars in millions, unless otherwise noted)
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: Today's Speakers
Today’s Speakers Al Carey Eddie Ingle A.J. Eaker Executive Chairman CEO and Director EVP, CFO, and Treasurer 3
Slide 4: Q4 Fiscal 2024 Overview
Q4 Fiscal 2024 Overview (compared to Q3 Fiscal 2024) Consolidated Adjusted 1. Sequential performance improvement across all Revenue EPS1 three segments $157.5M ($0.22) (+5.7%) (+61.3%) 2. Business poised to return to growth in fiscal 2025 and beyond Adjusted REPREVE® Fiber EBITDA1 % of Sales $5.9M 3
Slide 5: REPREVE Fiber Sales
REPREVE® Fiber Sales As a % of Net Sales Annual 37% 36% 31% 32% 30% $180 $186 $186 $186 $246 $246 $293 $293 $293 $186 $186 $186 $189 2020 2021 2022 2023 2024 Fiscal Year Note: REPREVE Fiber represents UNIFI’s collection of fiber products on its recycled platform, with or without added technologies.
Slide 6: REPREVE Powered by Textile Takeback
REPREVE® Powered by Textile Takeback™ REPREVE powered by Textile Takeback is the premiere, globally available, commercial-scale product platform leveraging textile waste into the most critical filament, fiber, and insulation products. We are pleased to introduce our new, white offering in filament.
Slide 7: Features & Benefits
Features & Benefits ● ThermaLoop down-like fiber and fiberball are made with 100%* recycled materials, including at least 50% fabric waste. ● ThermaLoop padding is made with 100%* recycled materials, including at least 50% fabric waste (exclusive of REPREVE® low melt polymer). ● 100% recycled paddin
Slide 8: Consolidated Highlights
Consolidated Highlights Q4 Q3 QoQ Q4 YoY FY24 FY24 Change FY23 Change Net Sales $157.5 $149.0 5.7% $151.1 4.2% Gross Profit $10.8 $4.8 126.5% $6.0 79.1% Gross Margin 6.9% 3.2% 370 bps 4.0% 290 bps Highlights/Drivers • Net sales and gross profit increased due to beneficial pricing actions, continued
Slide 9: Americas Highlights
Americas Highlights Q4 Q3 QoQ Q4 YoY FY24 FY24 Change FY23 Change Net Sales $91.0 $91.1 (0.1)% $94.8 (4.0)% Gross Profit $0.0 ($3.5) 100.1% $0.1 (98.5)% (Loss) Gross Margin 0.0% (3.9)% 390 bps 0.1% (100) bps Highlights/Drivers • Net sales were sequentially flat while gross profit increased, primaril
Slide 10: Brazil Highlights
Brazil Highlights Q4 Q3 QoQ Q4 YoY FY24 FY24 Change FY23 Change Net Sales $32.2 $29.6 9.0% $27.1 18.9% Gross Profit $5.6 $3.8 46.3% $1.7 237.5% Gross Margin 17.4% 13.0% 440 bps 6.1% 1,130 bps Highlights/Drivers • Net sales and gross profit increased sequentially and seasonally, primarily due to mark
Slide 11: Asia Highlights
Asia Highlights Q4 Q3 QoQ Q4 YoY FY24 FY24 Change FY23 Change Net Sales $34.2 $28.3 20.9% $29.1 17.5% Gross Profit $5.2 $4.4 16.6% $4.2 22.5% Gross Margin 15.1% 15.7% (60) bps 14.5% 60 bps Highlights/Drivers • Net sales and gross profit increased sequentially and seasonally, primarily due to higher
Slide 12: Balance Sheet
Balance Sheet $4 Cost control and working capital FCF ($1) ($8) ($8) ($4) measures drive improvement in free Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 cash flows. $40 $36 CapEx $11 < $12 FY22 FY23 FY24 FY25E $94 $97 $101 $103 $90 Net Debt1 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 $222 $209 $187 $174 $1
Slide 13: Q1 2025 Financial Outlook
Q1 2025 Financial Outlook Continued Focused on Long-Term Growth Q1 FY24 Results Q1 FY25 Outlook Net Sales $138.8 $147.0 to $153.0 Adjusted EBITDA1 ($4.8) $1.0 to $3.0 Effective Tax Rate 3.4% Continued Volatility Capital Expenditures $2.9 $3.0 to $4.0 13 1 Adjusted EBITDA is a non-GAAP financial meas
Slide 14: Fiscal 2025 Outlook
Fiscal 2025 Outlook Well Positioned to Realize Profitable Growth Opportunities in Fiscal 2025 Q4 FY24 Results Net sales expected to increase more than 10% over fiscal 2024, as underlying portfolio and REPREVE® Fiber momentum continues while macroeconomic and inflationary uncertainties remain prono
Slide 15: Fiscal 2025 Priorities
Fiscal 2025 Priorities Prepared to Pivot to Growth Transforming the sales process, including pricing, to streamline 1. operational efficiencies and drive margin improvement. Scrutinizing working capital to reduce interest expense and improve 2. cash flows. Leveraging the realignment of resources and
Slide 16: Contact Investor Relations
Contact Investor Relations: UFI@alpha-ir.com 16 16