Janus International Group, Inc. · NYSE:JBI
Janus International — Q4 2024 Earnings Presentation
19 slides from Janus International's earnings presentation, Feb 26, 2025
Slide 1: Fourth Quarter and Full Year 2024 Earnings Presentation
FOURTH QUARTER AND FULL YEAR 2024 EARNINGS PRESENTATION February 26, 2025 JanusIntl.com 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain statements in this communication, including the estimated guidance provided under “2025 Financial Guidance” and under “Reaffirmed Long Term Strategic Outlook” herein, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities
Slide 3: Agenda
AGENDA Ramey Jackson Anselm Wong Chief Executive Officer Chief Financial Officer Business Overview & 2024 Financial Overview & Market Update 2025 Financial Guidance 3
Slide 4: Full-Year 2024 Highlights
Full-Year 2024 Highlights • 9.6% total revenue decline compared to 2023 • Total Self-Storage down 9.3% 2024 Revenue Mix ◦ New Construction up 5.4%, Restore, Rebuild & Replace (“R3”) down 26.6% Self-Storage • Commercial & Other down 10.3% Mix: 68.7% • Net Income of $70.4 million, a 48.1% decrease com
Slide 5: Full-Year 2024 Results Overview
Full-Year 2024 Results Overview Revenue Adj. EBITDA1 $963.8M $208.5M 9.6% decrease 27.0% decrease 21.6% margin Adj. Diluted Operating Cash EPS1 Flow $0.57 $154.0M Adj. Net Income1 FCF1 of $133.9M of $82.1M Strong Cash Flow Generation Amid A Challenging Macroeconomic Environment 1. Adjusted EBITDA, A
Slide 6: 2024 Revenue and Adj. EBITDA Drivers
2024 Revenue and Adj. EBITDA1 Drivers Revenue Adjusted EBITDA1 SG&A Bad Debt $ (14.1) Warranty $ (2.5) Share Based Compensation $ (3.6) Other $ (4.6) 1. Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and free cash flow are not financial measures determined in accordance with GAAP. For a
Slide 7: Fourth Quarter 2024 Results Overview
Fourth Quarter 2024 Results Overview Revenue Adj. EBITDA1 $230.8M $34.6M 12.5% decrease 53.4% decrease 15.0% margin Adj. Diluted Operating Cash EPS1 Flow $0.05 $51.4M Adj. Net Income1 FCF1 of $45.3M of $7.7M Laying the Groundwork for Simplified Operations and Sustainable Profit Generation 1. Adjuste
Slide 8: Fourth Quarter 2024 Revenue and Adj. EBITDA Drivers
Fourth Quarter 2024 Revenue and Adj. EBITDA1 Drivers Revenue Adjusted EBITDA1 SG&A Bad Debt $ (7.1) Warranty $ (2.1) Other $ (3.3) 1. Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and free cash flow are not financial measures determined in accordance with GAAP. For a definition of thes
Slide 9: Building on Record of High Return Capital Allocation
Building on Record of High Return Capital Allocation Strong cash flow profile, financial flexibility, disciplined capital deployment Free Cash Flow Conversion of Adj. Net Income1 163% for Full Year 2024 Solid Balance Sheet Invest in Growth Financial Flexibility 2.0x-3.0x Net Leverage Acquisitions Sh
Slide 10: Structural Cost Reduction Plan
Structural Cost Reduction Plan Goals Estimated Improve margins Annual Pre-Tax Cost Savings Simplify organizational structure $10 Million - $12 Enhance flexibility and efficiencies Million Action Plan Streamline labor force Rationalize real estate holdings Reduce selling, general and administrative c
Slide 11: 2025 Guidance and Key Planning Assumptions
2025 Guidance and Key Planning Assumptions Assumption Estimate Revenue Adj. EBITDA1 Depreciation and Amortization $40M - $50M $860M to $890M $175M to $195M Capital Expenditures 1.5% - 2.0% of Revenue Interest Expense, net $43M - $46M Effective Tax Rate 26% - 27% 1. Adjusted EBITDA, Adjusted Net Inco
Slide 12: 2024 Highlights and Milestones
2024 Highlights and Milestones • Financial ◦ Strong cash generation with 2024 free cash flow conversion of Adjusted Net Income1 of 163% ◦ Announced structural cost reduction plan • Operations and Innovations ◦ Rolled out all-new internal hardwired smart lock, Nokē Ion ◦ Announced NS Series of enhanc
Slide 13: Long-Term Fundamentals and Investment Overview
Long-Term Fundamentals and Investment Overview Industry Leader in Well- Sustainable Multi-Faceted Strategy Structured Market Demand Drivers Driving Long-Term Growth Self-Storage (New Construction and R3): Self-Storage facility demand driven by Further Penetration of Self-Storage recurring life event
Slide 14: Appendix
Appendix 14
Slide 15: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation* Three Months Ended Variance (In millions, except percentages) Year Ended Variance (In millions, except percentages) December 28, December 30, December 28, December 30, 2024 2023 $ % 2024 2023 $ % Net Income $ 70.4 $ 135.7 $ (65.3) (48.1) % Net Income $ 0.3 $ 35.8 $ (3
Slide 16: Non-GAAP Adjusted Net Income Reconciliation
Non-GAAP Adjusted Net Income Reconciliation* (In millions) Three Months Ended Year Ended December 28, December 30, December 28, 2024 December 30, 2023 2024 2023 Net Income $ 0.3 $ 35.8 $ 70.4 $ 135.7 Net Income Adjustments1 5.7 0.2 14.6 3.7 Tax Effect on Net Income Adjustments2 (1.7) (0.1) (4.4) (1.
Slide 17: Non-GAAP Adjusted EPS
Non-GAAP Adjusted EPS* Three Months Ended Year Ended (In Millions, except share and per share data) December 28, 2024 December 30, 2023 (In Millions, except share and per share data) December 28, 2024 December 30, 2023 Numerator: Numerator: GAAP Net Income $ 0.3 $ 35.8 GAAP Net Income $ 70.4 $ 135.7
Slide 18: Free Cash Flow Conversion
Free Cash Flow Conversion* Three Months Ended December 28, December 30, (dollar amounts in millions) 2024 2023 Cash Flow from Operating Activities $ 51.4 $ 68.5 Less: Purchases of property, plant and equipment (6.1) (5.5) Free Cash Flow* $ 45.3 $ 63.0 GAAP Net Income $ 0.3 $ 35.8 Non-GAAP Adjusted N
Slide 19: Net Leverage Ratio
Net Leverage Ratio* (In millions) Year Ended December 28, 2024 December 30, 2023 Note payable - First Lien $ 598.5 $ 623.4 Less: Cash 149.3 171.7 Net Debt* $ 449.2 $ 451.7 Net Income $ 70.4 $ 135.7 Adjusted EBITDA $ 208.5 $ 285.6 Long-Term Debt to Net Income 8.5 4.6 Non-GAAP Net Leverage Ratio* 2.2
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