Smith-midland Corporation · NASDAQ:SMID
Smith-midland — Investor Presentation (November 2022)
17 slides from Smith-midland's investor presentation, November 2022
Slide 1: Investor Presentation November 2022
INVESTOR PRESENTATION November 2022 NASDAQ: SMID
Slide 2: Safe Harbor Statement
Safe Harbor Statement These slides and the accompanying oral presentation contain This presentation may contain forward-looking statements about forward-looking statements. All statements other than statements of Smith-Midland Corporation within the meaning of the Securities Act historical fact cont
Slide 3: Smith-Midland at a Glance
Smith-Midland at a Glance • Innovative precast concrete manufacturer • Founded 1960, headquartered in Midland, Virginia • Leader in highway & infrastructure products • Innovative commercial construction building products • Three production facilities servicing NY to GA • Shares Outstanding 5.3 milli
Slide 4: Proprietary Products
Proprietary Products JJ-Hook Highway Barriers SoftSound Absorptive Noise Wall Easi-Set Concrete Buildings SlenderWall Cladding System
Slide 5: Customized Products
Customized Products DECORATIVE • SECURITY • MILITARY TRAINING
Slide 6: Strategically Located Manufacturing Plants
Strategically Located Manufacturing Plants VIRGINIA (Midland) 77 acres, 59K sf reaches NY to NC/WV NORTH CAROLINA (Reidsville) 46 acres, 15K sf reaches NC to TN/KY *New in 2020, double capacity from prior plant SOUTH CAROLINA (Columbia) 39 acres, 29K sf reaches NC to GA/AL
Slide 7: Concrete Safety Barrier Rental Division
Concrete Safety Barrier Rental Division • Construction, Highway, & Event Security • 250K linear feet fleet • Expansion to 575K linear feet by end of 2022 • Estimated cost $5 million • Shift to barrier rentals vs barrier sales • Higher margins of 25-35% • Recurring revenues • Stability of earnings an
Slide 8: Expanded Geographic Reach through Licensing
Expanded Geographic Reach through Licensing 70+ Licenses • 6% Royalty
Slide 9: Trends Favoring Off-Site Precast Modular Construction
Trends Favoring Off-Site Precast Modular Construction • Macro trend to off-site modular construction • Shortened lead times • Reduced subcontractors • Minimization of carrying costs • Increased quality • Speed of installation • Aging construction workforce • DEVELOPER saves TIME & MONEY
Slide 10: Infrastructure Spend Tailwinds Benefit Smith-Midland
Infrastructure Spend Tailwinds Benefit Smith-Midland • Infrastructure Investment and Jobs Act • New MASH TL3 standard • All U.S. highway barrier mandated replacement over the next 5-7 years • J-J Hooks approved in California for the first time in Company history – 2nd most highway miles in U.S. • Ac
Slide 11: Outlays of the US Department of Transportation
Outlays of the US Department of Transportation *Forecast Source: Statista, U.S. Department of Transportation Federal Highway Administration Outlays
Slide 12: Revenues by Type
Revenues by Type (in millions) *2018 – Excludes $6.6M in Product Sales Deferred due to Buy-Back Obligation
Slide 13: Income Statement
Income Statement 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 Revenue $41,717 $40,220 $46,691 $43,862 $50,643 COGS 30,253 29,730 36,722 32,820 36,222 Gross Profit 11,464 10,490 9,969 11,042 14,421 Operating Expenses 7,749 8,274 7,423 7,283 8,252 Operating Income 3,715 2,216 2,546 3,759 6,1
Slide 14: YTD Income Statement
YTD Income Statement Nine Months Ended September 30, 2022 2021 Product Sales $ 19,714 $ 21,868 Barrier Rentals 4,816 8,667 Royalty Income 2,031 1,788 Shipping & Installation 9,083 8,302 Total Revenue 35,644 40,625 COGS 28,683 28,388 Gross Profit 6,961 20% 12,237 30% Operating Expenses 6,033 5,890 Op
Slide 15: Balance Sheet
Balance Sheet 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 Cash & Investments $ 4,488 $ 3,053 $ 2,540 $ 9,992 $ 13,492 Current Assets 19,032 21,596 19,031 23,341 27,751 Total Assets 29,225 41,369 42,115 46,499 53,325 Current Liabilities 7,834 11,860 9,602 8,900 13,909 Total Debt 3,533 4,50
Slide 16: Management Team
Management Team Ashley Smith AJ Krick, CPA Arthur Miles Matthew Smith President & CEO Chief Financial Officer President Easi-Set VP Sales & Marketing
Slide 17: Contact
540-439-3266 investors@smithmidland.com www.SmithMidland.com
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