Neogen Corporation · NASDAQ:NEOG
Neogen — Investor Presentation (March 2022)
20 slides from Neogen's investor presentation, March 2022
Slide 1: Investor Presentation
Investor Presentation March 2022 1 ©2022 Neogen Corporation. All rights reserved.
Slide 2: Disclaimer
Disclaimer Cautionary Notes on Forward Looking Statements This communication includes “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation
Slide 3: Neogen's Mission and Vision for the Future
Neogen’s Mission and Vision for the Future The mission of Our VISION for the FUTURE Neogen Corporation We will continue to play a key role in enhancing is to be the leading company the safety, quality and quantity in the development and marketing of the global food supply of solutions for food and a
Slide 4: A Unified Food Security Solution
A Unified Food Security Solution Regulatory Focus Genomic Improvement Feed Production Biosecurity & Hygiene Food Security Agriculture and Farm Production Diagnostic Screening Consumer Testing and Compliance Processing 4 ©2022 Neogen Corporation. All rights reserved.
Slide 5: Neogen At a Glance
Neogen At a Glance Diversified $503mm ~50% / ~50% >140 Global LTM Revenue Food / Animal Safety Countries Platform Revenue Mix Strong ~9% ~15% 50+ Growth FY 2021 22-Year Acquisitions Historically Organic Growth Across Revenue CAGR Profile the Portfolio 5 Source: Company filings and FactSet. Note: U.S
Slide 6: Neogen's Product Offerings
Neogen’s Product Offerings Food Safety Animal Safety Genomics Protecting the Food Supply Ensuring Wellbeing of Livestock & Pets Improving Food Security ▪ Food safety products that reach all segments ▪ Develop solutions for animal protein, animal ▪ Develop solutions that allow protein producers to of
Slide 7: Neogen's Product Offerings Detail
Neogen’s Product Offerings Detail Food Safety Animal Safety Genomics Protecting the Food Supply Ensuring Wellbeing of Livestock & Pets Improving Food Security YoY % YoY % YoY % Category LTM Rev. Growth Category LTM Rev. Growth Category LTM Rev. Growth ▪ Test kits for food ▪ Ramik and Havoc ▪ Lab tes
Slide 8: Neogen's Market Opportunity
Neogen’s Market Opportunity Serving Large and Growing Markets… …with Attractive Long-Term Fundamentals LT Growth Market Size Rate Significant Tailwinds Increasing Supply Chain Complexity ▪ Increasing health conscious consumers Food $18 – 25 6 – 8% ▪ Increasing food allergies Safety billion Processor
Slide 9: Neogen's Digital Technologies
Neogen’s Digital Technologies Food Safety Analytics Genomics Blockchain ▪ Major investment in digital ▪ Improving feed efficiency with ▪ Well positioned with genomics products following the FDA’s cattle genetic testing and supply chain traceability ‘Smarter Era of Food Safety’ ▪ Data services core ▪
Slide 10: How Neogen Wins in the Marketplace
How Neogen Wins in the Marketplace ▪ Reputation of dependability, trust and care at every step of the global food chain Brand ▪ Genomics, Biosecurity, Veterinary Care and Advanced Diagnostics protect the global food supply ▪ Broad product offering food safety diagnostics, animal care products and Ag
Slide 11: Neogen and 3M Food Safety – A Compelling Combination
Neogen and 3M Food Safety – A Compelling Combination Creating a Global Leader in Food Security Neogen 3M Food Safety Combined Company Broader A leading pure play food security company, product offerings to enhance spanning food safety, animal safety A leader in food safety solutions customer solutio
Slide 12: Neogen and 3M Food Safety Combination Highlights
Neogen and 3M Food Safety Combination Highlights Combination of complementary food safety businesses creates a leading global 1 pure play food security company with an expected ~$1 billion revenue trajectory(1) Expansive product solutions enable the combined company 2 to provide solutions for a glob
Slide 13: Expansive Product Offerings
Expansive Product Offerings Neogen 3M Food Safety Combined Company Allergen Culture Testing Media Pathogen Genomics Genomics Detection Indicator Bacterial & <5% ~10% ~10% Testing ~20% Sanitation Sample ~10% Animal ~25% ~10% Safety Handling ~20% % of ~15% % of Indicator % of ~50% Revenue ~15% Toxins,
Slide 14: Complementary, Diverse, Blue Chip Customer Base
Complementary, Diverse, Blue Chip Customer Base Food & Beverage Contract Labs Other Deep relationships with a diverse group of customers across the world better served by the combined company 14 ©2022 Neogen Corporation. All rights reserved.
Slide 15: Robust Innovation Engine
Robust Innovation Engine Neogen 3M Food Safety Combined Company Long-Standing Combined 70+ Years of 35+ Years 35+ Years History of Innovation Industry-Defining Innovation Deeply ~110 Scientists & Engineers ~90 Scientists & Engineers ~200 Scientists & Engineers Experienced Team ~360 Granted Patents +
Slide 16: Global Infrastructure to Capture Growth Opportunity
Global Infrastructure to Capture Growth Opportunity Combined company will cover the globe designing, manufacturing and delivering food security products and services Scotland Bridgend Canada England Ireland Lansing Expansion Italy United States China New Lansing India Bridgend facility facility expa
Slide 17: Preliminary Integration Planning Update
Preliminary Integration Planning Update ▪ Go-forward ERP and CRM solutions selected – ERP footprint drafted IT ▪ Discovery sessions and integration program underway ▪ Indirect procurement to be assumed day 1 ▪ Direct procurement to be assumed by end of transition services Supply Chain ▪ Presents opp
Slide 18: Strong Pro Forma Financial Profile
Strong Pro Forma Financial Profile Expected financial profile in the first full year post closing Neogen 3M Food Safety Combined Company Revenue Mid $500 million Mid $400 million ~$1 billion Adjusted Gross Margin % High 40% Low 60% Low 50% Adjusted EBITDA ~$125 million ~$175 million ~$300 million Ad
Slide 19: Well-Positioned to Extend Track Record of Growth
Well-Positioned to Extend Track Record of Growth Neogen and 3M Food Safety Revenue Growth (FY2000 – FY2021) 22-Year CAGR: ~10% (largely organic) 22-Year CAGR: ~15% (organic + M&A) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Neogen 3M
Slide 20: Key Takeaways
Key Takeaways 1 Compelling opportunity for investment exposure in attractive, high-growth food safety arena 2 Expansive product solutions enable Neogen to provide solutions for a global customer base 3 Complementary and diverse customer reach 4 Robust innovation pipeline creating breakthrough produc