Midera Food Processing, Inc. · NASDAQ:MFP
Midera Food Processing — Q2 2026 Earnings Presentation
19 slides from Midera Food Processing's earnings presentation, Aug 13, 2026
Slide 1: Second Quarter 2026 Results
Second Quarter 2026 Results August 13, 2026 midera.com Keep in touch 1
Slide 2: Forward-Looking and Non-GAAP Statements
Forward-Looking and Non-GAAP Statements Safe Harbor Statement This presentation contains “forward-looking statements” subject to the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s expectations with respect to the Company's future performance, strategy,
Slide 3: Successful Spin-Off
Successful Spin-Off Now Trading as an Independent, Standalone Company • Leading global pure-play food processing technology platform with proven total line solutions, 30+ established brands and a differentiated growth strategy • Completed the spin-off from The Middleby Corporation (NASDAQ: MIDD) on
Slide 4: Investment Thesis
Investment Thesis Built on Proven Success, Engineered for What's Next Strong Foundation of Customer-Focused, Best-In-Class Brands Growth Supported by Attractive Industry Tailwinds Organic Growth Drivers: Total Line Solutions, Market Penetration, Aftermarket Margin Accretion: Operational Excellence t
Slide 5: Midera Food Processing Playbook
Midera Food Processing Playbook An Industry Leading Platform Favorable Industry Trends Organic Growth Enablers Inorganic Growth Enablers Improving Living Standards in 30+ Best in Large, Global Developing Countries Total Line Market Disciplined M&A Synergy Class Brands Install Base Solutions Penetrat
Slide 6: Highlights - Q2 2026
Highlights - Q2 2026 Exceeded Guidance for Net Sales and Estimated Standalone Adjusted EBITDA1,2 ▪ Strong execution for both Net Sales and Estimated Standalone Adjusted EBITDA 1,2 ▪ Net Sales of $245 million increased 13% over the prior year period; 1% on an organic basis1 ▪ Estimated Standalone Adj
Slide 7: Financial Results - Q2 2026
Financial Results - Q2 2026 Exceeded Guidance for Net Sales and Estimated Standalone Adjusted EBITDA1,2 Estimated Standalone Net Sales Q2 2026 vs. Q2 2025 Adj. EBITDA & Margin1,2 $ ‣ Third consecutive quarter of organic +13% +11% revenue growth led by the protein and bakery categories, partially Org
Slide 8: Equipment vs. Aftermarket Sales
Equipment vs. Aftermarket Sales Double-Digit Sales Growth Across Equipment & Aftermarket in Q2 2026 Equipment – 62% of Net Sales1 Aftermarket - 38% of Net Sales2 Growth drivers Growth drivers ‣ New equipment sales into large capacity projects ‣ Installed-base modernization ‣ Bakery line expansions ‣
Slide 9: Financial Results - YTD Q2 2026
Financial Results - YTD Q2 2026 Significant YTD Growth in Both Net Sales and Estimated Standalone Adjusted EBITDA1,2 Estimated Standalone Net Sales YTD 2026 vs. YTD 2025 Adj. EBITDA & Margin1,2 $ ‣ Organic revenue growth across the +22% +26% protein, bakery and snack categories Organic Growth1 +12%
Slide 10: Orders and Backlog
Orders and Backlog Strong Demand Driving Orders and Backlog Growth Orders – Q2 Orders - LTM Backlog +16% +37% +51% YoY % Growth YoY % Growth YoY % Growth $1,030M $446M $275M $237M $750M $295M Q 2 2025 Q 2 2026 Q2 2025 Q2 2026 Q 2 2025 Q2 2026 10
Slide 11: CapEx and Strong Balance Sheet
CapEx and Strong Balance Sheet Significant Capacity to Fund Growth 2023-2025 Capital Expenditures Balance Sheet Flexibility 4.9% Q2 2026, ended July 4, 2026 ($ Millions) $41.4 Innovation Center Investment ~$20M Net Net Debt1 Leverage Liquidity2 Ratio1 2.1% 1.7% $16.3 $823M $12.9 $208M 1.3x 2023 2024
Slide 12: Financial Outlook
Financial Outlook Raising FY26 Guidance FY 2026E % change4 FY 2025 PRIOR3 CURRENT $ Millions, except percentages vs. FY25 Additional FY 2026E Modeling Assumptions Net Sales $853 $915-945 $935-965 +11% Depreciation and Amortization: $26-$28 million +6% organic5 Interest expense, net6: $7-$8 million D
Slide 13: Appendix
Appendix 13
Slide 14: Estimated Standalone Adjusted EBITDA Margin Bridge
Estimated Standalone Adjusted EBITDA1,2 Margin Bridge Full Year 2025 vs. 2024 Context; and 2026 Guidance3 -490 bps 21.3% +130 bps 17.7% 16.4% Key Margin Drivers • Reduced fixed-cost absorption on lower organic volume pressured margins • Unfavorable equipment product mix, tariffs and other inflation
Slide 15: Definitions of Non-GAAP Financial Measures
Definitions of Non-GAAP Financial Measures The following provides definitions of the non-GAAP financial measures included in this presentation: • Change in Organic net sales is defined as the change in net sales adjusted to exclude the impact of acquisitions and foreign exchange rates. • Adjusted EB
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Change in Net Sales to Change in Organic Net Sales Three Months Ended Six Months Ended July 4, 2026 July 4, 2026 Change in Net sales 13.2% 22.1% Less: Acquisitions 11.0% 8.1% Less: Foreign exchange rates 1.0% 2.4% Change in Organic net sales 1.2% 11.6% 16
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Net Earnings to Adjusted EBITDA and Estimated Standalone Adjusted EBITDA (Q2 2026) Three Months Ended Three Months Ended Six Months Ended Six Months Ended LTM1 Ended (in millions, except percentages) July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025 Jul
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations Net Debt and Net Leverage Ratio (in millions) July 4, 2026 Current maturities of long-term debt $4.5 Long-term debt 254.1 Total debt 258.6 Less: Cash and cash equivalents (50.5) Net debt $208.1 LTM Estimated Standalone Adjusted EBITDA 154.8 Net leverage ratio 1.3x 18
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Net Earnings to Adjusted EBITDA and Estimated Standalone Adjusted EBITDA (in millions, except percentages) FY 2024 FY 2025 Net sales $772.0 $853.2 Net earnings 122.3 82.7 Net earnings % of net sales 15.8% 9.7% Interest income, net (2.2) (2.0) Provision for
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