Slide 1: Q4'24 & FY'24 Results Presentation
Q4’24 & FY’24 Results Presentation
Slide 2: Disclaimer
Disclaimer Today’s presentation includes forward-looking statements that reflect Dole plc’s speak only as of the date on which such statements are made, and we do not current views with respect to future events, financial performance, expected undertake any obligation to update any forward-looking s
Slide 3: FY'24 Highlights
FY’24 Highlights
Slide 4: FY'24 Key Developments
FY’24 Key Developments Continued good momentum across the Group in 2024 Delivered organic growth in our core business areas and categories Full year financial result exceeded guidance Sale of equity interest in Progressive Produce generated $100 million in net proceeds; used for debt repayment Expan
Slide 5: FY'24 Financial Highlights
FY’24 Financial Highlights ▪ Strong result delivered in FY’24, ahead of guidance Revenue ▪ Revenue, Adjusted EBITDA and Adjusted Diluted EPS FY'24 FY'23 Variance Variance LFL(1) growth: $8,475m $8,245m +2.8% +6.7% ➢ Revenue +2.8% and +6.7% on a LFL basis(1) Adjusted EBITDA(2) ➢ Adjusted EBITDA(2) +1
Slide 6: Operational Review
Operational Review
Slide 7: Operational Review Q4'24
Operational Review Q4'24 Diversified Fresh Produce Diversified Fresh Produce Fresh Fruit EMEA Americas & ROW Fresh Vegetables Strong end to the year Stable final quarter, consolidating Good like for like revenue growth We continue to actively explore Good volume growth for bananas a strong performan
Slide 8: Financial Review
Financial Review
Slide 9: Group Results
Group Results Q4'24 Q4'23 FY’24 FY’23 Revenue - $’m 2,167 2,072 8,475 8,245 Income from Continuing Operations (3) - $’m 29.6 23.1 172.3 177.5 Net Income - $’m (31.6) 28.9 143.4 155.7 Net Income attributable to Dole plc - $’m (39.1) 22.3 125.5 124.1 Diluted EPS from Continuing Operations - $ 0.23 0.1
Slide 10: Segment Results – Continuing Operations
Segment Results – Continuing Operations $’m Q4'24 Q4'23 FY’24 FY'23 Adjusted Adjusted Adjusted Adjusted Revenue EBITDA Revenue EBITDA Revenue EBITDA Revenue EBITDA Fresh Fruit 819 31.9 749 28.8 3,293 214.8 3,136 208.9 Diversified Fresh Produce – EMEA 911 32.5 863 32.6 3,609 131.5 3,433 133.6 Diversi
Slide 11: Fresh Fruit
Fresh Fruit REVENUE $’M Q4'24 REVIEW ▪ 9.4% increase in revenue 819 +9.4% ▪ Increase primarily due to higher worldwide volumes 749 YoY of bananas sold, higher worldwide pricing of pineapples and higher pricing and volume for Q4'23 Q4'24 plantains in North America. These increases were partially offs
Slide 12: Diversified Fresh Produce EMEA
Diversified Fresh Produce EMEA REVENUE $’M Q4'24 REVIEW +5.5% -13.4% YoY ▪ 5.5% increase in revenue primarily driven by strong performance in the U.K., Spain and the Nordics, 863 911 partially offset by a net negative impact from M&A +6.5% of $7.4 million LFL Q4'23 Q4'24 ▪ On a LFL basis, revenue in
Slide 13: Diversified Fresh Produce Americas & ROW
Diversified Fresh Produce AMERICAS & ROW REVENUE $’M Q4'24 REVIEW (5.4%) YoY ▪ 5.4% decrease in revenue, primarily due to the sale of Progressive Produce in March 2024 490 463 ▪ On a LFL basis, revenue increased 16.1% primarily +16.1% LFL due to higher export volumes in cherries and grapes Q4'23 Q4'
Slide 14: Capital Allocation and Leverage
Capital Allocation and Leverage NET DEBT Q4'24: $25.6m CASH CAPEX (5) $’m FY’24 FY’23 Continuing Operations Total Gross Bank Debt (893.1) (1,060.7) FY’24: $82.4m Finance Lease Obligations (74.0) (33.2) Total Gross Debt (967.1) (1,093.9) Cash and Cash Equivalents 330.0 275.6 Net Debt (Non-GAAP) (637.
Slide 15: FY'25 Outlook and Strategic Priorities
FY’25 Outlook And Strategic Priorities
Slide 16: FY'25 Outlook
FY’25 Outlook FY’25 Adjusted EBITDA ~$370 - $380 million Continuing operations 15.7917 in Maintenance Capital Expenditure ~ $100 million Continuing operations Interest expense ~ $70 million Q4'24 RESULTS 16
Slide 17: FY'25 Strategic Priorities
FY’25 Strategic Priorities Accelerating Investing for Exiting the Focusing on Advancing on growth in core growth while Fresh cost control our business areas maintaining a Vegetables and operating sustainability and categories disciplined business efficiencies goals and approach to across our adaptin
Slide 18: Q&A
Q&A
Slide 19: Appendix: Non-GAAP Measures and Reconciliations
Appendix Non-GAAP Measures and Reconciliations
Slide 20: Non-GAAP Measures
Non-GAAP Measures Dole plc’s results are determined in accordance with U.S GAAP. the gain or adding the loss on the disposal of business interests, subtracting the gain or adding the loss on asset sales for assets held for sale and actively marketed property, adding impairment charges on property, p
Slide 21: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation RECONCILIATION FROM NET INCOME TO ADJUSTED EBITDA - UNAUDITED Three Months Ended Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 (U.S. Dollars in thousands) Net (loss) income (Reported GAAP) $(31,597) $28,934 $143,419 $155,70
Slide 22: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation RECONCILIATION FROM NET INCOME ATTRIBUTABLE TO DOLE PLC SHAREHOLDERS TO ADJUSTED NET INCOME – UNAUDITED Three Months Ended Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 (U.S. Dollars in thousands, except per share amoun
Slide 23: Like for Like Analysis – Q4'24
Like for Like Analysis – Q4'24 Revenue for the Three Months Ended Impact of Foreign Impact of Like-for-like December 31, December 31, Currency Acquisitions and Increase 2023 2024 Translation Divestitures (Decrease) (U.S. Dollars in thousands) Fresh Fruit $748,703 $ - $ - $70,363 $819,066 Diversified
Slide 24: Like for Like Analysis – FY'24
Like for Like Analysis – FY'24 Revenue for the Twelve Months Ended Impact of Foreign Impact of Like-for-like December 31, December 31, Currency Acquisitions and Increase 2023 2024 Translation Divestitures (Decrease) (U.S. Dollars in thousands) Fresh Fruit $3,135,866 $ - $ - $157,661 $3,293,527 Diver
Slide 25: Net Debt & Net Leverage
Net Debt & Net Leverage December 31, 2024 (U.S. Dollars in thousands) Net Debt Debt (Reported GAAP) Long-term debt, net (866,075) Current maturities (80,097) Bank overdrafts (11,443) Total debt, net (957,615) Less: Debt discounts and debt issuance costs (9,531) Total gross debt (967,146) Cash and ca
Slide 26: Contact
Contact: james.oregan@doleplc.com