Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Q2 2023 Earnings Presentation
8 slides from Unifi, Inc. New's earnings presentation, Feb 2, 2023
Slide 1: Conference Call Presentation: Second Quarter Ended January 1, 2023
Exhibit 99.2 CONFERENCE CALL PRESENTATION Second Quarter Ended January 1, 2023 (Unaudited Results) 1
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Forward-Looking Statements Certain statements included herein contain “forward-looking statements” within the meaning of federal securities laws about the financial condition and results of operations of the Company that are based on management’s beliefs, assumptions and expect
Slide 3: Q2 Fiscal 2023 Overview
Q2 FISCAL 2023 OVERVIEW (compared to Q2 Fiscal 2022) Revenue Diluted EPS Adj. EBITDA(1) REPREVE Fiber % of Sales $136.2M ($1.00) $(13.0)M vs. vs. vs. 31% vs. $201.4M $0.05 $10.9M 40% Continued demand disruption leads to performance shortfall Cost reduction actions have been implemented: reduced
Slide 4: REPREVE Fiber Sales
REPREVE FIBER SALES as a % of Net Sales and Millions of $s Annual Quarterly 37% 36% 40% 38% 38% 37% % of Net Sales % of Net Sales 36% 36% 31% 34% 31% 31% 25% 27% 24% $163 $180 $186 $246 $293 $51.6 $62.5 $61.7 $70.0 $71.9 $81.5 $71.9 $67.7 $49.2 $42.9 2018 2019 2020 2021 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 5: Net Sales Overview
NET SALES OVERVIEW Quarter-Over-Quarter, $s in Millions Consolidated Americas Brazil Asia $201.4 $136.2 $114.7 $59.1 $85.2 $27.6 $25.7 $25.3 ↓32.4% ↓25.7% ↓6.9% ↓57.2% Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Volume (34.9%) Volume (27.4%) Volume 8.1% Volume (53.4%) Price/Mix 4
Slide 6: Gross Profit Overview
GROSS PROFIT OVERVIEW Quarter-Over-Quarter, $s in Millions Consolidated Americas Brazil Asia 40.00% $7.5 $8.5 $16.9 20.00% 27.3% 8.4% 0.00% $0.9 -5.9% $3.8 0.7% 5.2% -20.00% -$8.0 -40.00% $1.3 14.4% 14.8% -60.00% -15.3% -80.00% -$13.1 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 G
Slide 7: Amended Credit Facility
AMENDED CREDIT FACILITY $s in Millions Concept Prior Facility1 New Facility2 Maturity date December 18, 2023 October 28, 2027 LIBOR + SOFR + 10 bps + Pricing 1.25% to 1.75% 1.25% to 1.75% Capacity / $100.0 Revolver $115.0 Revolver Structure $100.0 Term Loan $115.0 Term Loan 1 bps to 5 bps potential
Slide 8: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS $s in Millions Capital allocation strategy remains balanced across: $150 1 Organic FYs 2021, 2022, and 2023: $130 Growth New texturing equipment $110 2 Balanced FYs 2021, 2022, and 2023: Debt Principal Leverage Balance sheet diligence $90 3 Net Debt Share FY 2022: $70 615,50