Pyxus International, Inc. · OTC:PYYX
Pyxus International — Pyxus Intl Inc New — Q1 2024 Earnings Presentation
15 slides from Pyxus International's earnings presentation, Aug 10, 2023
Slide 1: 1st Quarter of Fiscal Year 2024 Results
1 Quarter of st Fiscal Year 2024 Results August 10, 2023
Slide 2: Forward-looking statements and other matters
Forward-looking statements and other matters Cautionary Statement Regarding Forward-Looking Statements. This presentation includes statements regarding expectations of our performance or other matters that may affect our business, results of operations, or financial condition are "forward-looking st
Slide 3: Strong Start to FY24
Strong Start to FY24 Delivered positive Net Grew sales and Accelerated Enhanced liquidity Improved credit Income and improved increased margins purchasing ahead through aggressive profile and adjusted EBITDA due to strong of plan working capital liquidity ratios global demand, management and acceler
Slide 4: Stronger Sales Volumes, Prices and Margins
Stronger Sales Volumes, Prices and Margins Average Sales Regional Volume Sales Volume Price per Kilo Increases/Decreases 85.5 $5.40 90 80 69.1 72.1 Africa $5.20 $0.78 $0.79 70 $5.00 60 Asia $0.51 50 $4.80 40 Europe $4.60 $0.56 $5.27 30 $0.55 $4.48 $0.50 20 North America $4.40 $3.19 10 $4.20 South Am
Slide 5: Stronger, More Efficient Purchasing
Stronger, More Efficient Purchasing Inventory Purchases Cash Conversion Cycle 700 641 300 250 600 530 250 210 500 418 200 173 400 150 300 200 100 100 50 0 0 Q1 FY22 Q1 FY23 Q1 FY24 Q1 FY22 Q1 FY23 Q1 FY24 Inventory Purchases ($ millions) Days of Cycle Purchased $111M Used only $40M Reduced cash cycl
Slide 6: Improving Credit Profile Through Seasonality of Business
Improving Credit Profile Through Seasonality of Business Net-Debt-to-Adj. Interest Coverage * IMPROVING PYXUS’ EBITDA * 1.6 1.51 CREDIT PROFILE 12 9.91 1.5 • Improved YoY Q1 net-debt-to- 10 8.38 1.4 1.3 adjusted EBITDA for three 8 6.06 1.2 1.15 consecutive twelve-month 6 1.1 1.01 periods. Q1 has hig
Slide 7: Revenue and Adjusted EBITDA Bridge
Revenue and Adjusted EBITDA Bridge • Revenue improved by $133.2 Revenue -QTD million YoY • Volume increase primarily due to accelerated shipments from Africa and South America • Price increase primarily due to higher tobacco prices Adj EBITDA – QTD * • Adjusted EBITDA* improved by $27.5 million YoY
Slide 8: Appendix
APPENDIX
Slide 9: Adjusted EBITDA - LTM
Appendix – Adjusted EBITDA - LTM *Combined (Non-GAAP) for the five months ended August 31, 2020 (Predecessor period) and the seven months ended March 31, 2021 (Successor period), which periods were presented separately in light of the resolution of the Chapter 11 cases (the “Chapter 11 Cases”) of th
Slide 10: Adjusted EBITDA - LTM (continued)
Appendix – Adjusted EBITDA - LTM (continued) (1) Earnings before interest, taxes, depreciation and amortization ("EBITDA") and adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") are not measures of results of operations under generally accepted accounting pri
Slide 11: Adjusted EBITDA
Appendix – Adjusted EBITDA (1) Earnings before interest, taxes, depreciation and amortization ("EBITDA"), adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") and Free Cash Flow are not measures of results of operations or cash flows from operations under gener
Slide 12: Adjusted EBITDA (continued)
Appendix – Adjusted EBITDA (continued) (2) Amounts incurred during the three months ended June 30, 2023 and 2022 included employee separation and asset impairment charges primarily related to the restructuring of certain non-leaf operations and related inventory write-offs classified within cost of
Slide 13: Net Debt to Adjusted EBITDA and Interest Coverage
Appendix – Net Debt to Adjusted EBITDA and Interest Coverage *Combined (Non-GAAP) for the five months ended August 31, 2020 (Predecessor period) and the seven months ended March 31, 2021 (Successor period), which periods were presented separately in light of the resolution of the Chapter 11 cases (t
Slide 14: Free Cash Flow
Appendix – Free Cash Flow (1) Free Cash Flow is not a measure of cash flows from operations under generally accepted accounting principles in the United States ("U.S. GAAP") and should not be considered as an alternative to other U.S. GAAP measurements. We have presented Free Cash Flow to adjust for
Slide 15: TM
TM