International Flavors & Fragrances, Inc. · NYSE:IFF

International Flavors & Fragrances — Q3 2022 Earnings Presentation

16 slides from International Flavors & Fragrances's earnings presentation, Nov 8, 2022

  1. Slide 1: Third Quarter 2022 Earnings Conference Call

    THIRD QUARTER 2022 EARNINGS CONFERENCE CALL November 8, 2022

  2. Slide 2: Cautionary Statement

    CAUTIONARY STATEMENT Statements in this presentation, which are not historical facts or information, are “forward looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward looking statements are based on management’s current assumptions, estimates a

  3. Slide 3: Non-GAAP Financials

    NON-GAAP FINANCIALS We provide in this presentation non-GAAP financial measures, including: (i) comparable currency neutral sales; (ii) adjusted operating EBITDA and comparable currency neutral adjusted operating EBITDA ; iii) adjusted operating EBITDA margin (iv) adjusted EPS ex amortization; (v) f

  4. Slide 4: Today's Speakers

    TODAY’S SPEAKERS Frank Clyburn Glenn Richter Michael DeVeau Executive Vice President, Chief Investor Relations Chief Executive Officer Chief Financial Officer & Communications Officer 4

  5. Slide 5: Agenda

    AGENDA Strategy Refresh ____ Financial Results ____ Full Year Outlook ____ Q&A 5

  6. Slide 6: Moving Towards Completion: Progressing Our Strategy Refresh

    P R O G R E S S I N G O U R S T R AT E G Y R E F R E S H MOVING TOWARDS COMPLETION W O R K P L AN T I M E L I N E Portfolio Priority Strategy Refresh Operating Execute Decisions & Prioritization Plan & Communicate • Enterprise-wide view of • Alignment of category • Develop detailed • Operationalize

  7. Slide 7: 9M YTD 2022 Highlights

    9M YTD 2022 HIGHLIGHTS Sales Pricing Productivity $9.6B Actions Savings Comparable currency Achieved >$875M in price Captured >$125M in operational neutral sales ¹ ² +11% increases to recover total inflation efficiencies & deal-related synergies Adjusted Operating Portfolio Net Debt to Credit EBITDA

  8. Slide 8: Q3 2022 Consolidated Results

    Q3 2022 CONSOLIDATED RESULTS In millions / % of sales 2021 2022 C H AN G E Comparable currency neutral sales were +10% led by double digit growth in Nourish and Pharma Solutions ____ Revenue² $3,071 $3,063 0% Comparable adjusted currency neutral operating EBITDA1 grew 3% driven by pricing actions an

  9. Slide 9: Q3 2022 Sales Performance

    Q3 2022 SALES PERFORMANCE S AL E S R E C O N C I L I AT I O N Year-over-year change Comparable Currency Neutral Sales¹ ²: +10% Health Fine Industrial In Millions Fragrance Flavors Cultures & Pharma Microbial Food Enzymes Consumer Control Ingredients Fragrance Animal Nutrition $3,071 Fruit Prep Food

  10. Slide 10: Q3 2022 Profitability Performance

    Q3 2022 PROFITABILITY PERFORMANCE AD J U S T E D O P E R AT I N G E B I T D A¹ R E C O N C I L I AT I O N Year-over-year change Comparable Currency Neutral Adjusted Operating EBITDA¹ ²: +3% In Millions Microbial Control Fruit Prep Divestiture $648 Health Wright $612 Acquisition 1 Q3 2021 2 Portfolio

  11. Slide 11: Q3 2022 Segment Performance

    Q3 2022 SEGMENT PERFORMANCE NET ADJUSTED SALES O P E R AT I N G EBITDA¹ SEGMENT (Comparable (Comparable HIGHLIGHTS currency neutral currency neutral vs. vs. 3Q 21) ¹ ² 3Q 21) ¹ ² $1.7 billion $287 million • Double-digit growth in Food Designs & Ingredients Nourish +10% (4)% • Price increases and pro

  12. Slide 12: Cash Flow & Leverage

    9M YTD 2022 CASH FLOW & LEVERAGE C AS H F L O W L E V E R AG E Cash flow from operations totaled $189 million Cash and cash equivalents finished at $538 million ____ ____ Capex was $344 million or ~3.6% of sales Gross debt totaled $10,812 million ____ ____ Free cash flow1 generation of $(155) millio

  13. Slide 13: Consolidated Outlook FY 2022

    FY 2022 CONSOLIDATED OUTLOOK In billions / % Previous Revised Market conditions have become more challenging, with foreign exchange fluctuations, continued inflation & economic pressures Sales $12.6 to $13.0 $12.4 to $12.5 ____ Currency Neutral Sales growth continues to be driven by pricing actions,

  14. Slide 14: Summary

    SUMMARY Executing our pricing, productivity and divestiture objectives to deliver strong financials & improved debt leverage profile ____ Proceeding with caution in Q4 as market conditions have become more challenging (i.e., FX, inflation and economic) ____ Focused on controlling what we can control

  15. Slide 15: Investor Day invitation

    iff You are cordially invited to International Flavors & Fragrances Inc. INVESTOR DAY Wednesday, December 7, 2022 The TimesCenter 242 W 4st St. New York, NY 10036 12:30pm - 1:00pm Registration 1:00pm - 4:00pm Presentations & Q&A 4:00pm - 6:00pm Innovation Stations & Cocktails

  16. Slide 16: Where science & creativity meet

    iF f Where science & creativity meet

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