B&g Foods, Inc. · NYSE:BGS
B&g Foods — Piper Jaffray Consumer Conference 2009
15 slides from B&g Foods's conference presentation, Jun 10, 2009
Slide 1: Piper Jaffray Consumer Conference June 10, 2009
Piper Jaffray Consumer Conference June 10, 2009
Slide 2: Forward-Looking Statements
1 Forward-Looking Statements Statements in this presentation that are not statements of historical or current fact constitute “forward-looking statements.” The forward-looking statements contained in this presentation include, without limitation, statements related to our expectations regarding cost
Slide 3: About Non-GAAP Financial Measures
2 About Non-GAAP Financial Measures Certain disclosures in this presentation include “non-GAAP (Generally Accepted Accounting Principles) financial measures.” A non-GAAP financial measure is defined as a numerical measure of financial performance that excludes or includes amounts so as to be differe
Slide 4: Strong Brands & Leading Market Positions
3 Strong Brands & Leading Market Positions Most Brands Hold the #1 or #2 Position in Their Respective Category or Markets Select B&G Retail Market Positions(1) B&G Foods has a diverse portfolio of leading brands in attractive niche, shelf stable product categories Note: Categories are defined by Inf
Slide 5: Strong Sales Growth
4 Strong Sales Growth ($ in millions) Net Sales (2) (1) Strong sales growth through mix of organic and acquisition growth. $328.4 $372.8 $379.3 $411.3 $471.3 $486.9 2003 2004 2005 2006 2007 2008
Slide 6: Significant EBITDA Generation
5 Significant EBITDA Generation ($ in millions) EBITDA (1) Represents midpoint of projected EBITDA range for 2009 of $99.0 million to $102.0 million. (2) $61.9 $69.0 $94.5 $89.4 $100.5 (1) 2005 2006 2007 2008 2009 Proj.
Slide 7: EBITDA has Recovered after 2008 Mid-Year Sag
6 EBITDA has Recovered after 2008 Mid-Year Sag $21.1 $23.4 $27.4 $25.0 $22.4 $24.0 $20.1 $24.3 $24.3 $0 $10 $20 $30 Q1 Q2 Q3 Q4 2007 2008 2009
Slide 8: Price Momentum has Remained Strong
7 Price Momentum has Remained Strong (2) (1)
Slide 9: Cost Pressures Lessen after 2008 Peak
8 Cost Pressures Lessen after 2008 Peak Packaging 16% Commodities 51% Currency 33% 2007 $12 Million 2008 $20 Million Packaging 20% Commodities 64% Currency 10% Transportation/ Energy 6% *All graphs exclude Maple Syrup. 2009E $9 Million Packaging 45% Commodities 55%
Slide 10: Cost – It's All Relative
Cost – It’s All Relative 9 $3.41 $2.80 $2.39 $0.50 $0.38 $0.30 $0.28 Cost per Pound 2007 2008 2009 2007 2008 2009 2007 2008 2009 Wheat Maple Syrup Beans $0.21 $0.25
Slide 11: Attractive New Product Growth Initiatives
10 Attractive New Product Growth Initiatives New Products Focused on Health and At Home Meal Trends
Slide 12: Industry Leading Profitability & Capital Efficiency
11 2009 Projected EBITDA Margin 12.5% 19.9% 2009 Projected FCF / Net Sales 10.3% 17.7% 2008 Comparable (1) Companies Average B&G Foods Note: EBITDA margin is defined as EBITDA divided by net sales. EBIT margin is defined as EBIT divided by net sales. Free Cash Flow (FCF) is defined as EBITDA – capex
Slide 13: B&G Foods Capitalization
12 B&G Foods Capitalization ($ in millions) 2006 2007 2009 Term Loan $25.0 $130.0 $130.0 8% Senior Notes due 2011 240.0 240.0 240.0 12% Senior Subordinated Notes due 2016 165.8 165.8 165.8 Total Debt $430.8 $535.8 $535.8 Cash (29.6) (36.6) (33.3) Net Debt 401.2 499.2 502.5 Senior Debt/EBITDA 3.8x 3.
Slide 14: Proven Ability to Return Cash to Investors
Proven Ability to Return Cash to Investors 14 Total EIS Return Has Outperformed Peers
Slide 15: Piper Jaffray Consumer Conference June 10, 2009
Piper Jaffray Consumer Conference June 10, 2009