Burnham Holdings, Inc. · OTC:BURCA
Burnham — Shareholder Meeting (April 2025)
33 slides from Burnham's shareholder meeting presentation, Apr 28, 2025
Slide 1: 2025 Shareholders Meeting Welcome
2025 Shareholders Meeting Welcome Meeting Presentation will begin at Name Presenter 11:30 a.m. ET Date April 28, 2025 OTC: BURCA 1
Slide 2: Agenda
Agenda 1. Introduction 2. Meeting Specifics - a. Due Notice of Meeting b. 2024 Minutes c. Appointment of Inspector of Election Presentation Name d. Proposals Presenter 3. CEO's Comments Date 4. Vote Results - a. Proposal 1: Directors b. Proposal 2: Auditors 5. Chairman's Comments 6. Adjournment 2
Slide 3: Director Candidates & Appointment of Auditors
Director Candidates & Appointment of Auditors Directors of the Company – Class of 2025 - 2028 • Christopher E. Pruitt • J. David W. Reeves • Donald A. Stern Independent Auditors - 2025 • Baker Tilly US, LLP 3
Slide 4: 2025 Shareholders Meeting
2025 Shareholders Meeting Christopher Drew April 28, 2025 OTC: BURCA 4
Slide 5: Cautionary “Forward-Looking” Statements
Cautionary “Forward-Looking” Statements Statements in this presentation that are not historical are “for ward-looking statements” and are subject to change. These statements are subject to risks and uncer tainties that could cause the Company’s actual operating results to differ materially from thos
Slide 6: Burnham Holdings Officers - April 2025
Burnham Holdings Officers - April 2025 Christopher Drew Bryan O’Toole President & CEO VP - Sales & Business Development Melissa Devitz Nick Ribich VP - Human Resources VP & Chief Financial Officer Samantha Fugagli Paul Spradling General Counsel & Secretary VP - Operations 6
Slide 7: Primary Manufacturing & Servicing Locations
Primary Manufacturing & Servicing Locations Thermal InMotion, Abingdon, MD, new to BHI in 2025 Brooklyn, NY York, PA Peru, IN Philadelphia, PA Lancaster, PA Zanesville, OH Abingdon, MD Denton, NC Norwood, NC 7
Slide 8: 2024 Consolidated Financial Highlights
2024 Consolidated Financial Highlights • Net sales of $270.2 million – an increase of 6.8% compared to 2023 • Highest net sales number in BHI histor y • Net income of $12 million – increase of 26.8% compared to 2023 • A new record! • Gross profit margin of $61 million (22.6%) • EBITDA - $23.2 millio
Slide 9: 2024 Residential Initiatives
2024 Residential Presentation Name Initiatives Presenter Date 9
Slide 10: Heating Solutions Sales Company (HSSC)
Heating Solutions Sales Company (HSSC) Hops & Heat Field Events • Contractor focused events at local Brewery • Introduce new sales team in New England • Product Stations (4) with hands-on interaction • 85 Attendees over two separate evening events
Slide 11: Heating Solution Sales Company (HSSC) 2024 Highlights
Heating Solution Sales Company (HSSC) 2024 Highlights • Restructured New England sales force driving increased growth • Promotion of Chris Mitchell to President of HSSC, following retirement of Dan Cork 11
Slide 12: Thank You, Dan
Thank You, Dan 12
Slide 13: Product Development
Product Development • Alta Condensing Boiler • Larger applications • Double digit growth • Steadily increased market acceptance • Introduction of cascade venting systems 13
Slide 14: 2024 Major Capital Projects
2024 Major Presentation NameCapital Presenter Projects Date 14
Slide 15: U.S. Boiler CVW Facility Expansion
U.S. Boiler CVW Facility Expansion 15
Slide 16: Boiler Company
| * al lh Boiler Company N || VOHLSE! A)
Slide 17: Casting Solutions – Upshot Preheater
Casting Solutions – Upshot Preheater
Slide 18: 2024 Commercial Initiatives
2024 Commercial Presentation Name Initiatives Presenter Date 18
Slide 19: Commercial Boiler Sales
Commercial Boiler Sales Commercial Cast Iron – record year Commercial Steel – largest boiler made, 1200 horse-power Highest number of commercial Electric Boilers sold in the last 25 years 19
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Slide 21: Product Development
Product Development • Larger adaptive combustion base product • 299-500 MBH light commercial • O 2 sensor-based combustion system • AMP product line enhancements • Extend AMP-L range up to 1,500 MBH • Increase turndown • Add Boiler Connect capabilities • Shor t Circuit Current Ratings (SCCR) work to
Slide 22: 2024 First full year
2024 First full year – Exceeded sales expectation – Strong backlog into 2025 – World class fabrication capabilities Temporar y turn-key boiler rooms – Steam and Hot water boile rs – Installat ion , star t-u p and removal Fleet end of 2022 – 5 units Fleet end of 2023 – 10 units Fleet end of 2024 – 16
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Slide 25: Global Tariffs
Global Tariffs Tariff Impact – Cer tainly Uncer tain • Roughly 30% of our direct spend across the BHI subsidiaries are subject to potential tariffs • Purchased Steel, Aluminum and Copper have all seen increases in the last 45 days • Price increases for components have increased significantly in the
Slide 26: Q1 2025 Results
Q1 2025 Presentation Name Results Presenter Date 26
Slide 27: Q1 2025 Consolidated Financial Highlights
Q1 2025 Consolidated Financial Highlights • Net sales of $64.8 million – increase of 15.8% compared to Q1 2024 • Gross profit margin of 25.4% • Net income of $3.4 million, compared to $3.0 million in Q1 2024 • Diluted earnings per share - $0.72 • Total debt was $3.3 million lower than Q1 2024 • EBIT
Slide 28: Optimization Activities
Optimization Presentation Name PresenterActivities Date 28
Slide 29: Residential Manufacturing Optimization
Residential Manufacturing Optimization • Crown Boiler will wind down operations over the course of 2025. • Velocity Boiler Works will source equivalent Velocity branded products from US Boiler in Lancaster Pa. • No disruption to supply to Velocity’s current customer base is anticipated 29
Slide 30: 2025 Shareholders Meeting Q&A
2025 Shareholders Meeting Q&A 30
Slide 31: Results of the Election
Results of the Presentation Name Election Presenter Date 31
Slide 32: Chairman’s Comments
Chairman’s Comments §) BURNHAM HOLDINGS
Slide 33: This meeting is now adjourned, thank you for attending
This meeting is now adjourned, Presentation Name thank you for attending. Presenter Date 33