Sndl Inc. · NASDAQ:SNDL

Sndl — Q1 2025 Earnings Presentation

17 slides from Sndl's earnings presentation, May 2025

  1. Slide 1: Disclaimer

    Disclaimer Forward-looking statements Certain statements contained in this presentation may constitute forward-looking information and statements. All statements in this presentation, other than statements of historical fact, that address events or developments concerning SNDL Inc. (“SNDL" or the "C

  2. Slide 2: Corporate Presentation First Quarter 2025

    Corporate Presentation FIRST QUARTER 2025 May 2025 NASDAQ: SNDL CSE: SNDL

  3. Slide 3: Q1 2025 Company Highlights

    Q1 2025 Company Highlights SUSTAINED REVENUE RECORD GROSS GROWING FREE CASH GROWTH IN CANNABIS MARGIN FLOW Revenue growth in Q1 The increase in gross margin Improved cash generation driven by Cannabis, which was largely driven by through continued consistently expanded productivity initiatives in th

  4. Slide 4: Q1 Financial Highlights

    Q1 Financial Highlights Net Revenue $205MM $7.2MM 3.6% SNDL delivered solid Increase YOY Increase YOY results and is well- positioned for success Gross Profit $56.6MM $6.2MM 12.4% in 2025 and beyond Increase YOY Increase YOY Financial performance shows clear operational 2.2pp improvements with Gross

  5. Slide 5: Consolidated Financial Results

    Net Revenue ($000s) Gross Profit ($000s) First Quarter Consolidated Financial Results 80,000 300,000 12% Increase YOY 3.6% Increase YOY 2025 Financial 60,000 Performance 200,000 40,000 100,000 20,000 SNDL delivered +$5 million higher Free Cash 0 0 Flow year-over-year, with significant gross 2022 202

  6. Slide 6: Net Revenue and Gross Profit Contribution by Segments

    Net Revenue and Gross Profit Contribution by Segments Consolidated Financial Results Net Revenue ($Millions) Gross Profit ($Millions) 11.9 204.9 6.0 56.6 197.8 6.2 (4.4) (6.6) 50.4 1.3 (1.0) +3.6% +12.4% Q1 2024 Liquor Retail Cann. Retail Cann. Ops Cann. Elim Q1 2025 Q1 2024 Liquor Retail Cann. Reta

  7. Slide 7: Adjusted Operating Income and Free Cash Flow Contribution by Segments

    Adjusted Operating Income and Free Cash Flow Contribution by Segments Consolidated Financial Results Adj. Operating Income ($Millions) Free Cash Flow ($Millions) 1.3 6.2 1.0 3.9 (1.1) (4.5) (0.2) 2.8 +83% (102)% (14.7) 0.4 (9.0) (6.4) Q1 2024 Liquor Retail Cann. Retail Cann. Ops Investments Corporat

  8. Slide 8: First Quarter Financial Results

    Q1 2025 Free Cash Flow growth underpinned by operational First Quarter Financial Results efficiencies and working capital improvements FCF Breakdown ($Millions) Free Cash Flow trend ($Millions)** Q1'25 Q1'24 Variance 20 16 +5M vs 12 Q1 2024 10 Net I ncome (14.7) (4.7) (10.0) (1) 0 (6) Non-Cash add b

  9. Slide 9: Liquor Retail Q1 2025

    Liquor Retail Q1 Net Revenue Gross Profit 2025 Liquor Retail $109.5MM $27.8MM Decrease of $6.6 million Decrease of $1.0 million Results 5.7% decrease year-over-year 3.5% Decrease year-over-year • Category decline impacted by Easter shift to Q2, one less day in February, and lower store traffic • Pri

  10. Slide 10: Cannabis Retail Q1 2025

    Cannabis Retail Q1 Net Revenue Gross Profit 2025 Cannabis Retail $77.5MM $19.6MM Increase of $6.2 million Increase of $1.3 million Results 8.7% increase year-over-year 6.9% increase year-over-year • Same store sales growth of 5.2% year-over-year, including uplift from conversions to Value Buds • Add

  11. Slide 11: Cannabis Operations Q1 2025

    Cannabis Operations Q1 Net Revenue Gross Profit 2025 Cannabis Operations $34.3MM $9.2MM Increase of $11.9 million Increase of $6.0 million Results 53% increase year-over-year +185% increase year-over-year • Strong net revenue growth as a result of Indiva acquisition along with increased provincial b

  12. Slide 12: 2025 Strategic Priorities

    2025 Strategic Priorities Strategic Priorities GROWTH PROFITABILITY PEOPLE Drive sustainable growth Consistent Free Cash Flow Create engagement & in our core segments and Operating Income alignment through focus growth on Performance & Talent • Grow and convert Development store count • Enhance Reve

  13. Slide 13: Strategic Priorities: Growth

    Strategic Strategic Priorities Priorities 5.2% 1CM Acquisition Cannabis Retail Same Q1 2025 Highlights Store Sales Growth Expansion of Cannabis Retail footprint through Through quality of execution and Value Buds store acquisition of Cost Cannabis and T Cannabis conversions Locations (subsequent to

  14. Slide 14: Strategic Priorities: Profitability

    Strategic Strategic Priorities Priorities +$5.3M ~ $3M Free Cash Flow vs. prior year Productivity Savings Q1 2025 Highlights Continued operational improvements and better Segment optimization, including cultivation, working capital management procurement efficiencies, and mix management PROFITABILIT

  15. Slide 15: Overheads Restructuring Progress

    Overheads Restructuring Progress Savings ($Million) Progress vs Plan $20M+ $18M • Overall Project execution Execution according to plan to reduce • Q1 2025 Savings $4M corporate $5M $4M overheads and • Annualized Savings executed $17M improve the efficiency of the • Percentage of savings executed ~8

  16. Slide 16: Strategic Priorities: People

    Strategic Strategic Priorities Priorities Strategic Talent Employee Value Proposition Q1 2025 Highlights Development Completed the annual performance review cycle Hosted employee focus groups to develop with a strong focus on talent development, linking actionable strategies that enhance the employe

  17. Slide 17: Analyst Q&A

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