Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Unifi — Q4 FY2020 Earnings Presentation
14 slides from Unifi, Inc. New's earnings presentation, Aug 6, 2020
Slide 1: Conference Call Presentation
Conference Call Presentation Fourth Quarter and Fiscal Year Ended June 28, 2020 (Unaudited Results) August 6, 2020
Slide 2: Cautionary Statement on Forward-Looking Statements
Cautionary Statement on 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 expe
Slide 3: Fiscal 2020 Review
FISCAL 2020 REVIEW Significant progress was made during the first nine months of fiscal 2020, and prudent, proactive measures were taken to strengthen the balance sheet and prepare for a position of strength when the economic recovery occurs. • Continued strong growth from our Asian operations, whic
Slide 4: CEO Commentary
CEO COMMENTARY • Consumers and supply chains are rapidly adapting to the new normal. • Innovation and sustainability will remain top priority, and paramount for delivering the best customer experience. • Personal Protective Equipment was helpful to Q4 Eddie Ingle, Chief Executive Officer of UNIFI, h
Slide 5: Parkdale Transaction
PARKDALE TRANSACTION OVERVIEW (dollars in thousands) • $60,000 cash received on April 29, 2020 from divestiture of 34% investment via sale to majority partner, Parkdale, Incorporated: ̶ Transaction improved Net Debt by $60,000 and significantly improves leverage. ̶ Proceeds were applied in part to r
Slide 6: Liquidity Update
LIQUIDITY UPDATE (dollars in thousands) • During Q4 FY20, ABL Revolver balance was reduced to zero in connection with cash generation and Parkdale transaction proceeds. • During FY20, ABL Facility debt was reduced by $29,400 and Net Debt was reduced by $82,176. • On June 28, 2020, borrowing availabi
Slide 7: Net Sales: Three-Month Comparison
NET SALES OVERVIEW (dollars in thousands) Three-Month Comparison (Q4 FY19 vs. Q4 FY20) 1 Prior Period Volume Change Price/Mix Change FX Change Total Change Current Period Polyester $ 89,105 (30.2%) (16.0%) — (46.2%) $ 47,972 Asia 40,852 (50.8%) 4.8% (3.7%) (49.7%) 20,536 Brazil 26,620 (44.0%) (1.6%)
Slide 8: Gross Profit (Loss): Three-Month Comparison
GROSS PROFIT (LOSS) OVERVIEW (dollars in thousands) Three-Month Comparison (Q4 FY19 vs. Q4 FY20) Gross Profit (Loss) Polyester Asia Brazil Nylon All Other Consolidated Prior Period $ 7,902 $ 4,003 $ 4,976 $ 1,408 $ 53 $ 18,342 Margin Rate 8.9% 9.8% 18.7% 6.4% nm 10.2% Current Period $ (9,399) $ 2,30
Slide 9: Historical Data - PVA and REPREVE Fiber
HISTORICAL DATA - PVA AND REPREVE® FIBER ® REPREVE Fiber Sales PVA Sales as a % of Sales as a % of Sales Fiscal 2018 24% 45% Q1 Fiscal 2019 23% 43% Q2 Fiscal 2019 26% 47% Q3 Fiscal 2019 26% 47% Q4 Fiscal 2019 28% 51% Fiscal 2019 25% 47% Q1 Fiscal 2020 31% 54% Q2 Fiscal 2020 34% 57% Q3 Fiscal 2020 29
Slide 10: For the Good of Tomorrow
“FOR THE GOOD OF TOMORROW” Financially Strong to Navigate the Positioned Well for Long-Term, Sustainable Growth Near-Term & Eventual Recovery Exiting the Pandemic • Core end markets recovering, but visibility remains a challenge. • Sustainability trends likely to accelerate in this environment • Seq
Slide 11: Appendix
APPENDIX uniri
Slide 12: Net Sales: Twelve-Month Comparison
NET SALES OVERVIEW (dollars in thousands) Twelve-Month Comparison (YTD FY19 vs. YTD FY20) 1 Prior Period Volume Change Price/Mix Change FX Change Total Change Current Period Polyester $ 370,770 (10.4%) (6.2%) — (16.6%) $ 309,184 Asia 132,866 26.0% (7.8%) (3.0%) 15.2% 153,032 Brazil 102,877 (13.1%) (
Slide 13: Gross Profit (Loss): Twelve-Month Comparison
GROSS PROFIT (LOSS) OVERVIEW (dollars in thousands) Twelve-Month Comparison (YTD FY19 vs. YTD FY20) Gross Profit (Loss) Polyester Asia Brazil Nylon All Other Consolidated Prior Period $ 23,819 $ 15,700 $ 18,579 $ 7,896 $ 314 $ 66,308 Margin Rate 6.4% 11.8% 18.1% 8.0% nm 9.4% Current Period $ 12,088
Slide 14: Thank You!
Thank You! UNIri