Lassonde Industries, Inc. Class A · TSX:LAS.A
Lassonde Industries, Inc. Class A — Shareholder Meeting (May 2013)
33 slides from Lassonde Industries, Inc. Class A's shareholder meeting presentation, May 14, 2013
Slide 1: Annual General Meeting of Lassonde Industries Inc.
ANNUAL GENERAL MEETING OF LASSONDE INDUSTRIES INC. MAY 14, 2013 Financial Results for Fiscal 2012 and First Quarter 2013
Slide 2: Disclaimer
DISCLAIMER This Presentation is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities. This Presentation has not been approved or disapproved by any securities regulatory authority nor has any authority or com
Slide 3: Highlights – Fiscal 2012: Earnings
HIGHLIGHTS–FISCAL 2012 Earnings In millions of $ Years ended (except EPS) December 31, %Δ %Δ 2012 2011 2010 12 vs 11 11 vs 10 Sales 1,022.2 760.3 536.2 34.5% 41.8% Operating profit 85.5 60.3 50.2 41.7% 20.3% Operating profit / Sales 8.4% 7.9% 9.4% Profit 45.0 34.6 32.0 30.2% 8.1% Profit attributable
Slide 4: Highlights – Fiscal 2012: Earnings (cont'd)
HIGHLIGHTS–FISCAL 2012 Earnings (cont’d) ● Sales of $1,022.2M, Ç $261.9M versus $760.3M in 2011: ● CPC sales of $417.1M in 2012 versus $178.6M for the period of August 13, 2011 to December 31, 2011, up $238.5M; ● Sales of Canadian entities up 4.0%, explained by good sales performance in the national
Slide 5: Highlights – Fiscal 2012: Earnings (cont'd)
HIGHLIGHTS–FISCAL 2012 Earnings (cont'd) ● “Other (gains) losses” were $2.9M vs less than $0.1M in 2011, Ç $2.9M: ● In 2012, $2.6M in losses were due to the change in fair value of interest rate swaps related to CPC debt. ● Effective tax rate of 23.0% for 2012 compared to an effective tax rate of 25
Slide 6: Highlights – Fiscal 2012: Statements of Financial Position
HIGHLIGHTS–FISCAL 2012 Statements of Financial Position In millions of $ As at December 31, %Δ %Δ 2012 2011 2010 12 vs 11 11 vs 10 Non-cash working capital 127.1 159.1 89.2 -20.1% 78.4% Property, plant and equipment 238.9 237.5 149.8 0.6% 58.5% Total assets 800.0 798.0 368.9 0.2% 116.4% $Δ Net Debt
Slide 7: Highlights – Fiscal 2012: Free Cash Flow Analysis
HIGHLIGHTS–FISCAL 2012 Free Cash Flow Analysis In m illions of $ Years ended December 31, Variance 2012 2011 2012-2011 Free cash flows Profit 45.0 34.6 10.4 Ajustments Amortization and Depreciation 31.6 23.1 8.5 Pension plans and other 2.2 (4.3) 6.5 Change in non-cash working capital 22.7 (7.6) 30.3
Slide 8: Highlights – First Quarter 2013: Earnings
HIGHLIGHTS–FIRST QUARTER 2013 Earnings In millions of $ (except EPS) First Quarters ended March 30, March 31, %Δ $Δ 2013 2012 13 vs 12 13 vs 12 (restated)* Sales 240.6 233.4 3.1% 7.2 Operating profit 13.8 13.3 4.3% 0.5 Operating profit / Sales 5.7% 5.7% Profit attributable to shareholders 5.9 5.7 3.
Slide 9: Highlights – First Quarter 2013: Earnings (cont'd)
HIGHLIGHTS–FIRST QUARTER 2013 Earnings (cont’d) ● Sales of $240.6M, Ç $7.2M versus $233.4M in 2012: ● 3.1% increase explained by: – Increased sales of private label products; – Increased sales volume of national brand products; – Partially offset by higher slotting fees of $0.9M. ● Operating profit
Slide 10: Highlights – First Quarter 2013: Earnings (cont'd)
HIGHLIGHTS–FIRST QUARTER 2013 Earnings (cont’d) ● “Other (gains) losses” were $(0.3)M vs $0.8M in 2012, U $1.1M: ● In 2012: – $0.5M loss from a change in fair value of interest rate swaps; – $0.3M foreign exchange loss. ● $0.3M foreign exchange gain in 2013. ● Effective tax rate of 24.0% for Q1–2013
Slide 11: Dividends and Outlook – Fiscal 2013
DIVIDENDS AND OUTLOOK–FISCAL 2013 ● Dividends: ● Quarterly dividend of $0.39 per share (payable on June 14 for Q1); ● A 25.8% increase over 2012; ● On an annualized basis, represents approximately 25% of 2012 profit attributable to shareholders. ● Outlook: ● Barring any significant external factors,
Slide 12: Lassonde Industries Inc. Maintaining Growth in Competitive Markets
LASSONDE INDUSTRIES INC. Maintaining Growth in Competitive Markets 12
Slide 13: Lassonde Industries Inc.
LASSONDE INDUSTRIES INC. 2012 Sales: $1,022.2 million Cash flows from operating activities: $101.5 million Lassonde Industries Inc. develops, manufactures, and markets distinctive food products. . Lassonde Clement Pappas A. Lassonde Inc. Arista Wines Specialties Inc. and Company, Inc. The Canadian D
Slide 14: Our Operations
OUR OPERATIONS 1. Calgary (AB) 2. Thornbury (ON) 3. Toronto (ON) 4. Rougemont , Saint-Damase, Boisbriand(QC) (head office and multiple facilities) 5. Port Williams (NS) 1 4 5 2 6. Carver (MA) 3 6 (cranberry receiving station) 7. Seabrook (NJ) 9 7 8 8. Carneys Point (NJ) 12 (head office) 11 9. Baltim
Slide 15: Competitive Environment: Fruit juices and drinks
COMPETITIVE ENVIRONMENT Fruit juices and drinks 15
Slide 16: Key Issues
KEY ISSUES ● Consolidation of North American clientele ● Need to remain relevant with clients who often have integrated operations in North America. ● Food prices subject to the effects of changes in weather conditions and to fluctuations in global demand ● Rapidly changing consumption patterns ● Pe
Slide 17: Corporate Strategy: The right product in the right size
CORPORATE STRATEGY To offer consumers the right product in the right size To focus on To consolidate healthy products To innovate To promote sustainable development 17
Slide 18: Corporate Strategy: Innovate and focus on healthy products
CORPORATE STRATEGY Innovate and focus on healthy products ● To respond to consumers looking for a greater variety of products better adapted to their needs ● Our speed of execution must enable us to bring these new products to market before our competitors ● Innovation can take many forms including:
Slide 19: Corporate Strategy: Innovate
CORPORATE STRATEGY Innovate From this… … to these! 19
Slide 20: Corporate Strategy: Innovate
CORPORATE STRATEGY Innovate 20
Slide 21: Corporate Strategy: Innovate and focus on healthy products
CORPORATE STRATEGY Innovate and focus on healthy products 21
Slide 22: Corporate Strategy: The right product in the right size
CORPORATE STRATEGY The right product in the right size ● To respond to increased segmentation of our markets which is in part explained by an increase in disparities in disposable household income: ● Strong increase in demand in dollar stores vs warehouse clubs; ● Increased demand for certified orga
Slide 23: Corporate Strategy: The right product in the right size
CORPORATE STRATEGY The right product in the right size 23
Slide 24: Corporate Strategy: Consolidate
CORPORATE STRATEGY Consolidate ● To respond to retail and food service markets, which will continue to consolidate; ● The Company intends to continue to carefully consider acquisition opportunities: ● To become the supplier of the best solutions for most major North American food retailers in the fr
Slide 25: Corporate Strategy: Sustainable development
CORPORATE STRATEGY Sustainable development Lassonde Industries Inc. is committed to being a leader in sustainable development by demonstrating to all our stakeholders that our products respect the environment and society and that they promote the health and well-being of consumers. ● Three priority
Slide 26: Priorities for 2013
PRIORITIES FOR 2013 ● Take advantage of the benefits of our critical mass while maintaining our speed of execution; ● Launch new products, in particular, under the Del Monte brand; ● Improve the competitive positioning of the Company in processing fruits with high potential; ● Diversify our supply s
Slide 27: 2012 Events
2012 EVENTS Lassonde promotes an active lifestyle by supporting sports to help maintain good health. 27
Slide 28: Financial Performance
FINANCIAL PERFORMANCE 28
Slide 29: Selected Financial Information – 5 Years
SELECTED FINANCIAL INFORMATION–5 YEARS Sales (in millions of $) EBITDA (in millions of $) *CAGR 5 years: 20.6% *CAGR 5 years: 20.7% 1,200.0 120.0 115.9 1,022.2 1,000.0 100.0 83.4 800.0 760.3 80.0 64.2 66.7 600.0 60.0 56.4 505.5 524.2 536.2 400.0 40.0 200.0 20.0 0.0 0.0 2008 2009 2010 2011 2012 2008
Slide 30: Selected Financial Information – 5 Years (cont'd)
SELECTED FINANCIAL INFORMATION–5 YEARS (cont'd) EBIT (in millions of $) EPS (in $) *CAGR 5 years: 19.7% *CAGR 5 years: 13.0% 100.0 7.00 6.29 90.0 85.5 6.00 80.0 5.12 4.86 70.0 5.00 4.62 60.3 4.39 60.0 50.2 4.00 50.0 47.4 42.2 3.00 40.0 30.0 2.00 20.0 1.00 10.0 0.0 0.00 2008 2009 2010 2011 2012 2008
Slide 31: Our Future
OUR FUTURE To provide a To be close to dependable consumers and service that meets clients our clients’ expectations CONTINUE TO INNOVATE AND PROMOTE HEALTH Do as well in To take advantage of our acquisition the future in terms of both as we have done product lines in the past and economies of scale
Slide 32: Questions
Lassonde Industries¢
Slide 33: Annual General Meeting of Lassonde Industries Inc.
ANNUAL GENERAL MEETING OF LASSONDE INDUSTRIES INC. MAY 14, 2013 Financial Results for Fiscal 2012 and First Quarter 2013