Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Investor Presentation (December 2024)
31 slides from Lakeland Industries's investor presentation, December 2024
Slide 1: Investor Presentation December 2024
Investor Presentation Place An Image Here December 2024 NASDAQ: LAKE Protect Your People® 1
Slide 2: Safe Harbor & Non-GAAP Statements
Safe Harbor & Non-GAAP Statements “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains estimates, predictions, opinions, goals and other “forward-looking statements” as that phrase is defined in the Private Securities Litigation Reform Act of
Slide 3: Corporate Overview & Objectives
Corporate Overview & Objectives Lakeland Fire + Safety is a global manufacturer of personal protective equipment, apparel and accessories with a Head-to-Toe portfolio of brands. New management is NASDAQ: LAKE implementing strategies to accelerate growth and margins with an acquisition focus LTM Reve
Slide 4: Corporate Video
Corporate Video Play with solid fill Video link will open in web browser Protect Your People® 4
Slide 5: Mission-Critical Product Portfolio
Mission-Critical Product Portfolio FIRE INDUSTRIAL Products Products NFPA-certified Fire Turnout Gear Chemical Suits CE-certified Fire Turnout Gear PPE / Disposable Coveralls Pacific brand of safety helmets FR/AR Performance Wear Jolly brand of fire boots High Visibility Particulate Blocking Hoods J
Slide 6: Compelling Fire Segment Opportunity
Compelling Fire Segment Opportunity ✓ Fragmented global fire market - one player ✓ Inventory is simpler to manage: Build to fill with greater than 10% market share orders with little to no finished goods ✓ High-margin businesses with relatively low ✓ Generally working capital efficient with purchase
Slide 7: Large Markets with Strong Tailwinds
Large Markets with Strong Tailwinds Key Market Dynamics ~$6 Billion Total Addressable Market with Increasing Relevance of Safety And PPE a Mid-to-High-Single-Digit Growth Rate2 • Increased development and enforcement of safety and environmental standards globally • Global acceptance of PPE increasin
Slide 8: Strategic Priorities
Strategic Priorities • Investing resources in high growth geographies Building a Premier • Commitment to product line enhancements Global Fire Brand • Optimizing operations and sales channels Goal: to fortify its position as the only full-service vendor for • Adding product line extensions and innov
Slide 9: Global Head-to-Toe Fire Portfolio
Global Head-to-Toe Fire Portfolio Background & Product Portfolio Highlights Product • Fire and emergency services • Premium product line with a global reputation for safety and design Focus helmets • Highly innovative and R&D driven organization Headquarters Markets • Oceania, North America, Other •
Slide 10: Competitive Advantages
Competitive Advantages Owned, Global Manufacturing Base Geographically Diverse Sales Platform Provides the ability to rapidly scale-up production to Attractive opportunities for strategic products meet emergency demand, shift production between in key, diverse markets – the addition of Jolly, locati
Slide 11: Unique Opportunity to Larger Competition
Unique Opportunity to Larger Competition NASDAQ: LAKE NYSE:MSA Euronext: ALDTL ASX:ANN • Revenue trajectory driven by CY25 Revenue $162M $1,848M $463M $1,761M both M&A and organic YoY Growth 14.5% 2.9% 3.5% 11.0% initiatives CY24/CY25 Adj. EBITDA % 10.4% / 13.1% 25.8% / 26.3% 15.5% / 15.7% 17.2% / 1
Slide 12: Management
Management James M. Jenkins Roger D. Shannon Helena An President and Chief Executive Officer Chief Financial Officer Chief Operating Officer ▪ General Counsel and Vice President of Corporate ▪ 35+ years of experience in finance, strategy, ▪ 25 years of experience in procurement and Development for T
Slide 13: Financial Highlights
Place An Image Here Financial Highlights Protect Your People® 13
Slide 14: Fiscal Third Quarter 2025 Financial Highlights & FY2025 Guidance
Fiscal Third Quarter 2025 Financial Highlights & FY2025 Guidance Financial Highlights FY25 Guidance2 Three Months Ended Oct. 31 Year Ended January 31 FY25 Revenue of at least $ in Million 2024 2023 2024 2023 $165M Revenue $45.8 $31.7 $124.7 $112.8 FY25 Adjusted EBITDA Gross Margin 40.6% 42.2% 41.1%
Slide 15: Revenue Mix - Historical and Pro Forma with Acquisitions
REVENUE MIX-HISTORICAL AND PRO FORMA WITH ACQUISITIONS Lakeland Organic FY24 with full year Pacific Helmets, Jolly Scarpe, Q3-FY25 Revenue Lakeland Organic FY24 and LHD Group (pro forma) 7% 5% 7% USA USA USA 13% 17% 11% Europe Europe 32% Asia 34% 44% Other N.A. 8% Europe 9% Other N.A. 14% Asia Asia
Slide 16: FQ3 TTM Revenue and Adjusted EBITDA
FQ3 TTM Revenue and Adjusted EBITDA Revenue Adjusted EBITDA excluding FX $151.8 $137.7 $132.3 $122.4 $124.7 $16.5 $15.7 $14.5 $14.7 $14.2 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 A
Slide 17: Capital Markets Summary
Capital Markets Summary LAKE News Releases ▪ Reports Fiscal Year 2025 Third Quarter Financial Results - 12/5/24 NASDAQ Listed ▪ To Attend Upcoming Investor Conferences in December - 12/3/24 Shares Outstanding 7.4M ▪ Declares Cash Dividend for Fourth Quarter 2025 – 11/1/24 ▪ Engages MZ Group to Lead
Slide 18: Investment Highlights
Investment Highlights Near Term Strategy: Leverage a leading market position in fire protection, brands, and accretive M&A to accelerate growth in the fragmented, higher margin $2.0B fire protection sector in the largest global markets.1 Long Term Strategy: Grow all verticals with a capital light mo
Slide 19: www.lakeland.com
NASDAQ: LAKE Company Investor Relations 1525 Perimeter Parkway Chris Tyson Suite 325 MZ Group Huntsville, AL 35806 949-491-8235 LAKE@mzgroup.us www.lakeland.com Protect Your People® 19
Slide 20: Appendix
APPENDIX Protect Your People® 20
Slide 21: Eagle Technical Products
Eagle Technical Products1 Enhances Lakeland’s Product Portfolio and Expands Geographical Reach Background & Product Portfolio Highlights Headquarters • Stockport, UK • Asset-light value chain provides potential in- sourcing synergy opportunities as well as Product Focus • Firefighter Suits & Apparel
Slide 22: Pacific Helmets
Pacific Helmets1 Enhances Lakeland’s Fire Service Offering with Helmets Background & Product Portfolio Highlights Headquarters • Whanganui, New Zealand • Premium product line with a global reputation for safety and design Product Focus • Fire and emergency services helmets • Highly innovative and R&
Slide 23: Jolly Scarpe
Jolly Scarpe1 Expands Lakeland’s Fire Service Portfolio with Boots Background & Product Portfolio Highlights Headquarters • Montebelluna, Italy • Premium product line with a global reputation for quality and design Product Focus • Fire, police, industrial, and military boots • Highly innovative and
Slide 24: LHD Group
LHD Group1 Enhances Lakeland’s Product Portfolio and Expands Geographical Reach Background and Product Portfolio Acquisition Highlights • Premium product line with a global Headquarters • Wesseling, Germany reputation for quality and design Product Focus • Fire turnout gear, LHD Care • Germany is th
Slide 25: LHD Care Services
LHD CARE SERVICES FEEL COMPLETELY SECURE WITH THE LHD CARE SYSTEM ✓ Elimination of carcinogenic substances in protective clothing by means of professional cleaning ✓ individually combinable service modules ✓ highest degree of flexibility in clothing management © 2024 / LHD GROUP - 25 Protect Your Pe
Slide 26: Fiscal 2025 Third Quarter Financial Summary
Fiscal 2025 Third Quarter Financial Summary THREE MONTHS ENDED October 31, 2024 2023 Variance Net sales $45,761 $31,678 44.5% Gross Margin 40.6% 42.2% -162bps Adjusted EBITDA excluding FX $4,726 $4,507 4.9% Adjusted EBITDA excluding FX Margin 10.3% 14.2% -390bps Diluted EPS $0.01 $0.34 -$0.33 ($000’
Slide 27: Non-GAAP Reconciliation – Q3
Non-GAAP Reconciliation – Q3 THREE MONTHS ENDED THREE MONTHS ENDED October 31, October 31, 2024 2023 2024 2023 Net Income to EBITDA Adjusted EBITDA Margin Net income (loss) $86 $2,618 Adjusted EBITDA $4,264 $3,285 Interest expense $490 $13 Divided by net sales $45,761 $31,678 Taxes $148 $937 Adjuste
Slide 28: Non-GAAP Reconciliation – LTM
Non-GAAP Reconciliation – LTM LAST TWELVE MONTHS October 31, 2024 2023 Adjusted EBITDA to Adjusted EBITDA excluding FX Adjusted EBITDA $10,723 $11,754 Currency Fluctuation $3,731 $1,450 Adjusted EBITDA excluding FX $14,454 $13,204 ($000’s Except Share Information) Protect Protect Your People® Your P
Slide 29: Fiscal 2025 Third Quarter Financial Highlights
Fiscal 2025 Third Quarter Financial Highlights Net Sales Adjusted EBITDA & Gross Margin Diluted EPS Adjusted EBITDA Margin $45.8 $4.7 42.2% 0.34 $4.3 40.6% 10.3% $3.3 9.3% $31.7 10.4% 0.01 2024Q3 2025Q3 2024Q3 2025Q3 2024Q3 2025Q3 2024Q3 2025Q3 2025Q3 Excl. FX • Net sales increased $14.1 • Gross mar
Slide 30: FQ3 Gross Margin and Adjusted EBITDA Bridge
FQ3 Gross Margin and Adjusted EBITDA Bridge GROSS MARGIN % ADJUSTED EBITDA • Organic Gross Margin continued to improve • Profitability from Organic sales increased • Integration of newly acquired companies generating lower gross margin • Profit in ending inventory improved year over year • Higher ma
Slide 31: Q3-FY25 Balance Sheet
Q3-FY25 Balance Sheet 2025 2024 2025 2024 Qtr 3 Qtr 4 Qtr 3 Qtr 4 Cash and cash equivalents 15,839.3 25,221.8 Accounts Payable 16,710.9 7,377.5 Accounts Receivable 26,562.6 19,168.6 Accrued Compensation and Benefits 4,533.2 3,920.7 Inventories 72,720.9 51,250.7 Other Accrued Expenses 4,939.1 2,487.2
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