Alico, Inc. · NASDAQ:ALCO
Alico — Investor Presentation (April 2024)
23 slides from Alico's investor presentation, Apr 29, 2024
Slide 1: Investor Presentation
Investor Presentation i n c o r p o r a t e d NASDAQ: ALCO www.alicoinc.com May 2024
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not
Slide 3: Our History
Our History Alico Inc. is a Florida-based agribusiness and land management company with 125 years of experience. Alico owns approximately 54,500 acres of land and approximately 49,500 acres of oil, gas, & mineral rights in whole or part throughout Florida. Our main operations are citrus production a
Slide 4: Achieving Goals: Alico's Largest Asset: Our Land
Achieving Goals monitor finances Alico currently manages approximately 49,000 acres of citrus groves in 31 locations across 7 counties. Alico is a major landowner; its primary asset is 54,500 acres of land. Top citrus grower in the US and primary supplier to Tropicana, a leading orange juice brand i
Slide 5: Valuable Florida Land Holdings
Valuable Florida Land Holdings Approximately $300M Enterprise Value as of 3/31/2024 Estimate of Potential Value of Land Holdings and Enterprise Value (1): Excludes 17,229 of Ranch acreage representing the sale to the State of Florida, for $77.6M, which closed on December 21, 2023 Note: Values indica
Slide 6: 2023 Citrus Land Sales
2023 Citrus Land Sales Source: Saunders Ralston Dantzler Real Estate; LayOfTheLandReport.com
Slide 7: 2023 Population Movement
2023 Population Movement Source: U.S. Census Bureau, Vintage 2023 Population Estimates
Slide 8: Recent Transactions
On December 21, 2023, Alico sold to the State of Florida its remaining 17,229 acres of the Alico Ranch for approximately $77.6 million in gross proceeds. Approximately 69,000 acres of the Alico Ranch were sold for $226 million to more than 25 buyers since 2018. Recent Transactions
Slide 9: Returning Substantial Capital
Dividends Since beginning of FY2015, Alico has made aggregate dividend payments of over $40M. Alico has paid dividends, with one exception, since 1974. Approximately $196M of capital returned since beginning of FY2015, including $94 million of capital returned since beginning of FY2021. Tender Offer
Slide 10: Alico De-Leveraging
Targeting a 60% reduction in long term debt since FY2014 Source: Alico 2015-2023 10-K’s and FY2024 through 3/31/2024 Note: Reflects long term debt and current portion of long-term debt at year-end 3.85% Interest Rate on $70M of non-amortizing long-term debt Alico De-Leveraging
Slide 11: Orange Juice Supply Chain & Pricing
Orange Juice Supply Chain & Pricing With demand for not-from-concentrate orange juice remaining strong and processor inventories for juice at lower-than-normal levels, market prices are above prior season levels. Current processing inventory levels are unusually low. Decrease in citrus inventory car
Slide 12: Commitment to Citrus
Commitment to Citrus ALICO Producing Acres by Year 37,000 36,000 35,000 34,000 33,000 32,000 31,000 30,000 29,000 28,000 FY2019 FY2020 FY2021 FY2022 FY2023
Slide 13: Citrus Leadership
Citrus Leadership Increased tree plantings expected to result in improved production – potential for significant increased box production on existing acres as the 2.2 million trees planted reach full maturity. In fall of 2023, Alico added a new partnership with a large citrus grower to manage anothe
Slide 14: Investments Bearing Fruit
Investments Bearing Fruit Source: Management’s estimates
Slide 15: Alico's Efforts to Mitigate Citrus Greening
Alico’s Efforts to Mitigate Citrus Greening Over 35% of our trees have been treated with an oxytetracycline or ‘OTC’ injection since January 2023 to combat the impacts of citrus greening, decrease the rate of fruit drop and improve fruit quality. Alico trees that received the initial OTC application
Slide 16: Real Estate Portfolio Evaluated
Alico recently concluded its work with land-use planning professionals to evaluate the long-term potential value of our real estate assets. This led to the commencement of the multi-year entitlement process for a 4,500-acre grove near Fort Myers in Collier County named Corkscrew Grove. Alico plans t
Slide 17: Alico's ESG Initiatives
Consistent with what we communicated in our inaugural Sustainability Report in 2021, over the past year Alico has worked to deliver on our ESG promises. Some of our notable accomplishments include: Visit our website for more information: www.alicoinc.com/sustainability Alico’s Environmental, Social,
Slide 18: Maintain Industry Leadership
Maintain Industry Leadership • Nurture Tropicana relationship for long-term mutual benefits • Multi-year supply contracts • Aim to market fruit annually through owned or operated groves • Maintain strong relationships with all processors 125+ Year Old Leader Committed to Citrus for Generations to Co
Slide 19: Appendix A
Appendix A
Slide 20: Non-GAAP Financial Measure - Adjusted EBITDA
Appendix A: Non-GAAP Financial Measure - Adjusted EBITDA
Slide 21: 2024 Conference Schedule
2024 Conference Schedule ALICO January February March incorporated 12 1 pone ae 436 a} » 2456789 Planet MicroCap Showcase - Las Vegas, NV 14 15 16/17/18] 19 20 u2b 4s 6 7 wurbaus i " a 22 23-24 25 26 27 is 9 20 2 22 23 2 [a7[is]i9] 20 a 22 23 April 30 - May 2 27 23 29 30 20 29[30] 31] 25 26 27 20 2
Slide 22: Key Company Leadership
John Kiernan Chief Executive Office r & Pres ident Brad Heine Chief Financia l Office r Lydia Gavner Chief of S ta ff Key Company Leadership (239) 226-2032 jkiernan@alicoinc.com (239) 226-2025 bheine@alicoinc.com (239) 961-5032 lgavner@alicoinc.com
Slide 23: For More Information
For More Information investorrelations@alicoinc.com www.alicoinc.com www.linkedin.com/company/alico-inc. www.facebook.com/AlicoInc Fort Myers, Florida (239) 226-2000 Scan to view our interactive map Alico is an American legacy... built for today's world.