John B. Sanfilippo & Son, Inc. · NASDAQ:JBSS
John B. Sanfilippo & Son — Sanfilippo John B & SON — Shareholder Meeting (November 2011)
53 slides from John B. Sanfilippo & Son's shareholder meeting presentation, Nov 9, 2011
Slide 1: Welcome JBSS Stockholders Fiscal 2011 Meeting
WELCOME JBSS STOCKHOLDERS FISCAL 2011 MEETING November 9, 2011 Exhibit 99.1
Slide 2: Forward-Looking Statements
Some of the statements in this presentation constitute “forward-looking statements” about John B. Sanfilippo & Son, Inc. Such statements include, in particular, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate. In some
Slide 3: Vision, Mission and Core Values
Vision To be the global source for nuts, committed to quality, expertise and innovation that delivers an unmatched experience to our customer and consumer. Mission To be the global leader of quality driven, innovative nut solutions that enhance the customer and consumer experience and achieve consis
Slide 4: Acting Today For Tomorrow's Results
Acting Today For Tomorrow’s Results At the beginning of the day, it's all about possibilities. At the end of the day, it's all about results.“ - Bob Prosen
Slide 5: Market Conditions: The Headlines
FY 2011 Market Conditions: The Headlines U.S. NEWS U.S. NEWS Shell Shock: Chinese Demand Reshapes U.S. Pecan Business 'Explosive' Food Prices the Biggest Risk
Slide 6: Business Transformation
Business Transformation Over Past 4 years
Slide 7: Business Diversification 2007
Business Diversification 2007 Business Diversification Industrial 21% Foodservice 11% Contract Mfg. 8% Consumer Products 51% Export 9% Fiscal 2007 Sales $541 Million
Slide 8: Business Diversification 2011
Business Diversification 2011 Business Diversification Includes Industrial & Foodservice Fiscal 2011 Sales $674 Million
Slide 9: Product Diversification FY 2007
Peanuts 20.0% Pecans 22.3% Cashews & Mixed Nuts 21.1% Walnuts 13.7% Almonds 13.3% Other/Snack Mixes 9.6% Product Diversification % Of Sales FY 2007
Slide 10: Product Diversification FY2011
Product Diversification % Of Sales FY2011 Peanuts 16.2 % Pecans 18.8 % Cashews & Mixed Nuts 21.0% Walnuts 12.0% Almonds 13.8 % Other/Snack Mixes 18.2%
Slide 11: Item & Customer Optimization
-31.5% -30.9% Item & Customer Optimization
Slide 12: Sales Per Employee
* Fiscal net sales / average number of employees as reported on Form 10-K. Temporary employees not included. 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 JBSS RALCORP DIAMOND LANCE Sales Per Employee*
Slide 13: Consolidation of OVH to Gustine
Consolidation of OVH to Gustine
Slide 14: Resource Conservation Efforts
Total Company electricity metric decreased approximately 6% for FY11! Total Company gas metric decreased approximately 9% for FY11! Total Company nitrogen metric decreased approximately 8% for FY11! Total Company water metric decreased approximately 5% for FY11! - 0.0100 0.0200 0.0300 0.0400 0.0500
Slide 15: John B. Sanfilippo & Son, Inc. The Global Source for Nuts
JOHN B. SANFILIPPO & SON, INC. The Global Source for Nuts
Slide 16: Committed to Innovation
Committed to Innovation • 182 new items in Consumer Channel • 13 new items in Commercial Ingredients Channel • 8 new items in Export Channel • 16 new items for Contract Manufacturing
Slide 17: Consumer: Fiscal 2011 Sales
Consumer Products 61% 25% vs. FY ‘10 Fiscal 2011 Sales $414 Million 2011 Business Diversification 2011 Business Diversification 2011 Business Diversification
Slide 18: Commercial Ingredients: Fiscal 2011 Sales
Business Diversification 2011 Business Diversification Fiscal 2011 Sales $161 Million Commercial Ingredients 24% 14% vs. FY’10 Includes Industrial & Foodservice
Slide 19: Contract Manufacturing: Fiscal 2011 Sales
Business Diversification 2011 Business Diversification Contract Manufacturing 10% Fiscal 2011 Sales $64 Million 22% vs. FY ‘10
Slide 20: Export: Fiscal 2011 Sales
Business Diversification 2011 Business Diversification Fiscal 2011 Sales $35 Million Export 5% - 4% vs. FY’10
Slide 21: FY 2011 Financial Milestones
FY 2011 Financial Milestones
Slide 22: JBSS Stockholders Equity FYE 1991-2011
($ Millions) JBSS Stockholders Equity FYE 1991-
Slide 23: JBSS Net Sales FYs 1991-2011
JBSS Net Sales FYs 1991- ($ Millions) Note: FY 1997 reflects stub year Item Rationalization, De-emphasized Commodity Sales, Lower Prices Low Carb Diet Run Up
Slide 24: JBSS Total Outstanding Debt FYE 1991-2011
($ Millions) JBSS Total Outstanding Debt FYE 1991- Facility consolidation Improved operating performance
Slide 25: Outstanding Debt As % of Net Sales
JBSS Total Outstanding Debt As % of Net Sales FY’s 1991 – Note: FY 1997 reflects stub year
Slide 26: EBITDA
EBITDA consists of earnings before interest, taxes, depreciation, amortization and noncontrolling interest. EBITDA is not a measurement of financial performance under accounting principles generally accepted in the United States of America ("GAAP"), and does not represent cash flow from operations.
Slide 27: Reconciliation of Net (Loss) Income to EBITDA
Reconciliation of Net (Loss) Income to EBITDA (In $,000's) FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 NET (LOSS) INCOME 7,595 7,691 15,027 22,630 14,499 -16,721 -13,577 -5,957 6,917 14,425 2,835 INTEREST EXPENSE 8,365 5,757 4,681 3,434 3,998 6,516 9,347 10,502 7,646
Slide 28: EBITDA
In $,000’s * EBITDA is a non-GAAP measure. See slide entitled “Reconciliation of Net (Loss) Income to EBITDA” for reconciliation to GAAP measure EBITDA*
Slide 29: EBITDA Margin (% of Net Sales)
* EBITDA is a non-GAAP measure. See slide entitled “Reconciliation of Net (Loss) Income to EBITDA” for reconciliation to GAAP measure EBITDA* Margin (% of Net Sales)
Slide 30: EBITDA Per Shipped Pound
* EBITDA is a non-GAAP measure. See slide entitled “Reconciliation of Net (Loss) Income to EBITDA” for reconciliation to GAAP measure EBITDA* Per Shipped Pound
Slide 31: Nut Spot Market Prices vs. JBSS Gross Margins
Market prices from survey of JBSS brokers and suppliers Nut Spot Mkt. Prices vs. JBSS Gross Margins
Slide 32: Highlights: Q1 2012 vs. Q1 2011
Highlights: Q1 2012 vs. Q1 2011 (in $‘000s except EPS) $ Chng. % Chng. Net Sales 6.8% Sales Volume (lbs. shipped) (6.8%) Gross Profit Net Income Earnings Per Share Operating Cash Flows Total Debt $10,012 (3,666) $ 1,225 6.0% $ 1,363 126.3% 130.0% $ 0.13 114.5% $ 6,566 (2.9%) ($ 2,764)
Slide 33: John B. Sanfilippo & Son, Inc. The Global Source for Nuts
JOHN B. SANFILIPPO & SON, INC. The Global Source for Nuts
Slide 34: Building Our Future
JOHN B. SANFILIPPO & SON, INC. ) The Global Source for Nuts a. JOHN B. SANFILIPPO & SON, INC. BUILDING OUR FUTURE vy EXPAND Grow PROVIDE pia pra ce INTEGRATED NUT = SOLUTIONS ‘Sifocrto Urncuner snd "3685 Sunes ans Weck wth purer 1 “atcomne fot peas ‘Su ng pee ino con ‘od npesetecrrs SAFETY PEOPLE ‘Q
Slide 35: Growing Brands: Snack Nuts and Baking Nuts
Snack Nuts: Snack Nuts: Re-launched Snack Nuts with “Freshness You Can See” campaign Targeted marketing program in key markets Aligned dedicated sales force Baking Nuts Launched Freshness Seal stand up bag in Q1 of FY 2012 Growing Brands to Drive Growth and Profitability
Slide 36: Growing Brands: New OVH Products
Introduced several new products under the OVH brand Currently engaged in consumer insight studies Three new regional customers began buying OVH products Growing Brands to Drive Growth and Profitability
Slide 37: Growing Brands Internationally
Introduction of Fisher snack nuts into Shanghai, China via new distribution relationship Increased penetration of Fisher products with global retailers Introduction of new Fisher products in Puerto Rico, Mexico and Central America Growing Brands to Drive Growth and Profitability Internationally
Slide 38: Provide Integrated Nut Solutions
• Achieved significant volume growth with Commercial Ingredient customers through innovative new products and tailoring product offerings to changing end user needs • Brought added value to our private brand customers through new packaging and new formulations (especially in response to higher raw m
Slide 39: Growing Brands
Growing Brands
Slide 40: Nut Category Dollar Growth
$+2.8% U+0.3% $+8.0% U+3.1% $+7.1% U-0.3% 1460 667 381 % $ Sales +7.5% ( 1.5)% +2.3% ($ Millions) Source: Nielsen FDM (Dollars) Weeks Ending 07/23/11 vs. Year Ago Nuts. Does not include Trail Mixes Category Nut Category Dollar Growth $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 Snack Produce B
Slide 41: Branded versus Private Brand
Private Brands Branded +3.3% Branded versus Private Brand +4.3% Source: Nielsen FDM (Dollars and Units) 52 Weeks Ending 07/23/11 vs. Year Ago Nuts. Does not include Trail Mixes $573 $580 $625 $682 $780 $825 $852 Dollars vs. Units (in Millions) $1,556 $1,582 $1,621 $1,688 $1,664 $1,808 $1,886 Dollars
Slide 42: Fisher Snacks Relaunched with Freshness You Can See
Fisher Snacks Relaunched with “Freshness You Can See” • Consumers can see the quality • Updated, contemporary graphics • Recyclable, Reusable
Slide 43: Supported at the Point of Purchase
Supported at the Point of Purchase
Slide 44: Introducing the New Clear Can from Fisher
JOHN B. SANFILIPPO & SON, INC. | The Global Source for Nuts* Crack Open The Freshness. Clearly, it's time for more. Introducing the NEW clear can from Fisher. For feshness you can see, vn ig
Slide 45: Targeted Radio in Select Markets
“Freshness You Can See” Radio: Happy “Freshness You Can See” Radio: Sing “Freshness You Can See” Radio: Pantry “Freshness You Can See” Radio: Peanut Targeted Radio in Select Markets
Slide 46: Leveraging Sports Sponsorships to Grow the Brand
Leveraging Sports Sponsorships to Grow the Brand
Slide 47: Reinventing the Baking Nut Category
Old Packaging Laydown Bag New New Packaging "Freshness Seal” Stand-up Bag Reinventing the Baking Nut Category
Slide 48: Consumers love the Fisher Freshness Seal
Consumers love the Fisher “Freshness Seal” Stand Up Bag • Easier to store between uses • Easier to reclose and seal • Easier to scoop
Slide 49: Building the Brand with Marketing Support
Building the Brand with Marketing Support In-Store Merchandising and Point of Sale Targeted Communication in Key Markets
Slide 50: Build Our Private Brand Partnerships by Adding Value
Will Build Our Private Brand Partnerships by Adding Value
Slide 51: John B. Sanfilippo & Son, Inc. The Global Source for Nuts
JOHN B. SANFILIPPO & SON, INC. The Global Source for Nuts
Slide 52: James Cameron quote
“ It'll be all of our efforts together. It won't ever be exactly the way I imagined it. And that is, I think, an important lesson is that in any group enterprise it's going to be the sum total of the group.” - James Cameron (filmmaker)
Slide 53: John B. Sanfilippo & Son, Inc. The Global Source for Nuts
JOHN B. SANFILIPPO & SON, INC. The Global Source for Nuts
Sanfilippo John B & SON — Shareholder Meeting (November 2011) on 6ix