John B. Sanfilippo & Son, Inc. · NASDAQ:JBSS
John B. Sanfilippo & Son — Sanfilippo John B & SON — Investor Presentation (November 2021)
41 slides from John B. Sanfilippo & Son's investor presentation, Nov 18, 2021
Slide 1: FY2021 Investor Update
FY2021 Investor Update Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Some of the statements in this presentation and any statements by management 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
Slide 3: JBSS Corporate Overview
JBSS Corporate Overview One of the largest nut processors in the world with net sales of approximately $858 million (FY2021) State-of-the-art nut processing capabilities, including what we believe is the single largest nut processing facility in the world A North American market leader in every majo
Slide 4: We Are THE Nut Experts
We Are THE Nut Experts Full portfolio of nut types Variety of value-added products Compliment of dried fruit and snack products Customized, unique product formulas Source: JBSS FY21 Form 10-K
Slide 5: Strong Financial Performance
Strong Financial Performance +3.7% CAGR +3.9% CAGR +14.1% CAGR +26.5% CAGR Sources: 1JBSS Sales Data; 2JBSS FY21 Form 10-K
Slide 6: Returning Cash to Shareholders and Investing in the Future
*Yield based on average daily closing stock price over one year period. Calendar 2021 average daily closing price through 10/14/21 Returning Cash to Shareholders and Investing in the Future Source: JBSS FY21 Form 10-K
Slide 7: SANFILIPPO & SON,
SANFILIPPO & SON, imi, JOHN B.
Slide 8: Strategic Pillars: Expand, Create Value, Grow
Se EEE EXPAND CREATE VALUE GROW CONSUMER WITH KEY JBSS BRANDS REACH CUSTOMERS Win new customers by entering Be the trusted partner by Uitze insights to develop new channelo, launch offering supply chain and products and integrated marketing differentiated products and category expertise, qu programe
Slide 9: Expand Consumer Reach Accomplishments
Continued to accelerate our E-commerce growth, outpacing the grocery average Increased distribution with Fisher Snack by meeting consumers’ needs with value-added, upsized packs Expanded brand equities through innovative new product offerings supported by breakthrough advertising campaigns Developed
Slide 10: Create Value with Key Customers Accomplishments
Became exclusive peanut butter supplier to largest broadline food service distributor in the industry Expanded presence in the Non-Commercial segment by securing supply agreements with 2 additional key players Grew core nuts and trail mixes assortments at some of our largest, strategic customers inc
Slide 11: Grow JBSS Brands Accomplishments
Grew pound and dollar share in our Fisher Snack business for the third year in a row Continue to be the branded leader in Grocery Recipe Nuts with Fisher despite heavy competitive pressure from private label Continued to support our key brands including Fisher, Orchard Valley Harvest, and Squirrel t
Slide 12: Net Sales by Distribution Channel
Net Sales by Distribution Channel Source: JBSS Form 10-K
Slide 13: Business Channel Overview
Business Channel Overview Total Net Sales $858 Million Consumer Commercial Ingredients Contract Mfg. Source: JBSS FY21 Form 10-K
Slide 14: Consumer Channel
Consumer Channel versus FY20 +1.8% Key Drivers $686M Net Sales Private Label Growth E-Commerce Growth Grocery Growth Snack Nuts & Trail Mixes Fisher Recipe & Squirrel Fisher Snack Source: JBSS FY21 Form 10-K
Slide 15: Commercial Ingredients Channel
Commercial Ingredients Channel Key Drivers $93M Net Sales -21.6% versus FY20 Source: JBSS FY21 Form 10-K
Slide 16: Contract Manufacturing
Contract Manufacturing Key Drivers $79M Net Sales -9.3% versus FY20 Customer moved volume in-house Decrease in c-store sales due to COVID Source: JBSS FY21 Form 10-K
Slide 17: Nut Category Review
FY2021 Nut Category Review imi, JOHN B. SANFILIPPO & SON, INC.
Slide 18: Average Retail Nut Prices
Source: IRI: Nut Category – Multi Outlet Geography; Total FY17 year ending 6/25/17 to FY21 year ending 6/20/21 Average Retail Nut Prices +2.6% FY17 to FY21
Slide 19: Core Nut Pricing Declined
Source: IRI: Total Nut Category – Multi Outlet Geography; FY20 year ending 6/21/20 vs. FY21 year ending 6/20/21 Core Nut Pricing Declined
Slide 20: 5 Year Trend - Volume & Revenue
Source: IRI: Total Nut Category – Multi Outlet Geography; FY17 year ending 6/25/17 to FY21 year ending 6/20/21 5 Year Trend - Volume & Revenue
Slide 21: FY2021 Financial Milestones
FY2021 Financial Milestones
Slide 22: Net Sales vs. Net Sales Per Pound Sold
Net Sales vs. Net Sales Per Pound Sold -1.3% CAGR +2.3% CAGR Source: JBSS Form 10-K
Slide 23: EBITDA
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 operat
Slide 24: Reconciliation of Net Income to EBITDA
Reconciliation of Net Income to EBITDA Sources: JBSS FY21 Form 10-K; Internal sales reporting FY 2009 FY 2010 FY 2011 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 in $,000s NET INCOME (LOSS) 6,917 14,425 2,835 17,122 21,760 26,287 29,305 30,395 36,125 32,500 39,466 54,110 59,741 INTEREST EXPENS
Slide 25: EBITDA Trends
EBITDA is a non-GAAP measure. See slide entitled “Reconciliation of Net Income to EBITDA” for reconciliation to GAAP measure EBITDA Trends Sources: JBSS FY21 Form 10-K; JBSS Sales Data
Slide 26: Strong Foundation for Future Success
Strong Foundation for Future Success Source: JBSS FY21 Form 10-K 189% INCREASE 80% DECREASE 43% INCREASE 88% DECREASE
Slide 27: Peanut and Tree Nut Spot Market Prices vs. JBSS Gross Margin
PEANUT AND TREE NUT SPOT MARKET PRICES VS. JBSS ROLLING 4 QTR. GROSS MARGIN %
Slide 28: Financial Highlights: Q1 YTD FY2022
Financial Highlights: Q1 YTD FY2022 Net Sales $16,056,000 7.6% Sales Volume (LBs Sold) 9,543,000 14.0% Gross Profit $12,471,000 31.7% Net Income $6,437,000 50% Earnings Per Share (diluted) $0.55 49.5% Operating Cash Flow ($19,674,000) 95.6% Total Debt ($3,259,000) 5.21% Change % Change Source: JBSS
Slide 29: FY2021 Brand Marketing Review
FY2021 Brand Marketing Review
Slide 30: Grow JBSS Brands
Grow JBSS Brands ise nuts fool nchard, Va 7 SQUIRRE NUTS SINCE L x
Slide 31: Our priority: meet consumers where they are
Our priority is to… Meet consumers where they are Online and Brick & Mortar Impactful In-Store Merchandising Beyond Traditional Retail With the products & content they want Health & Wellness Easy & Delightful Experiences Value & Convenience From the brands they know & love Brands they can trust Insp
Slide 32: Meet consumers where they are
Meet consumers where they are With the products & content they want From the brands they know & love
Slide 33: Fisher Recipe
Fisher Recipe faced competitive headwinds at two major retailers, but saw significant growth in E-commerce and maintained branded share in Grocery Source: IRI Total US MULO, Fiscal Years Ending 6/25/17, 6/24/18, 6/23/19, 6/21/20, & 6/20/21 DOLLAR NET SALES -23.2% POUND SALES -19.4% FY21 versus FY20
Slide 34: Fisher Recipe: inspiring kitchen creators
Inspiring all kitchen creators to do more! E-commerce acceleration & impactful in-store events Value-Added Products & Packs Inspiring Content & Expert Partnerships
Slide 35: Fisher Snack
Fisher Snack saw an increase in pounds driven by core nut velocity, Club growth, and Oven Roast Never Fried distribution gains in Grocery. Net Sales were slightly down due to increased promotional activity by a major customer. DOLLAR NET SALES -1.8% POUND SALES 12.0% Source: IRI Total US MULO, Fisca
Slide 36: Oven Roasted, Never Fried
Taking Oven Roasted, Never Fried to new heights E-commerce acceleration & adjacent category placement Clean ingredient line in value sized packs Impactful, simple communication
Slide 37: Orchard Valley Harvest
Orchard Valley Harvest declined in Net Sales and Pounds driven by lost space at a major customer, increased competitive pressure, and store closures at another key customer due to COVID-19 DOLLAR NET SALES -11.1% POUND SALES -10.3% Source: IRI Total US MULO, Fiscal Years Ending 6/25/17, 6/24/18, 6/2
Slide 38: Pure & Simple Goodness
Bringing the world Pure & Simple Goodness E-commerce acceleration & adjacent category placement Plant-based snacking with pure & simple ingredients Product placement on Influencer’s social media
Slide 39: Squirrel and Southern Style Nuts
Squirrel grew in Net Sales & Pounds by focusing on E-commerce and expanding into Grocery with new pack sizes Southern Style Nuts grew Net Sales while decline pound sales by right-sizing trade spend DOLLAR NET SALES 23.4% POUND SALES -7.7% POUND SALES 5.6% DOLLAR NET SALES 2.2% FY21 versus FY20 FY21
Slide 40: Introducing our brands to more people in more places
Introducing our brands to more people in more places Accelerate innovation on E-commerce & QVC Introduce new flavors & sizes to gain grocery distribution Bring our brand stories to life with breakthrough campaigns
Slide 41: Thank You
Thank You INC. SANFILIPPO & SON, imi, JOHN B.
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