The Middleby Corporation · NASDAQ:MIDD
The Middleby — Investor Presentation (April 2025)
18 slides from The Middleby's investor presentation, April 2025
Slide 1: © 2025 Technomic, Inc. | Foodservice Planning Program
© 2025 Technomic, Inc. | Foodservice Planning Program
Slide 2: Forecast & Outlook
Forecast & Outlook Image Source: Shutterstock © 2025 Technomic, Inc. | Foodservice Planning Program
Slide 3: Reaching the Operator
Reaching the Operator Consideratio Retention & Awareness Development n of Loyalty IDEAS COME FROM However, times are changing. Younger buyers • Word of mouth rely more on social media and general internet searches for inspiration • Following other restaurants/chefs And while most generations are loo
Slide 4: Reaching the Operator
Reaching the Operator Consideratio Retention & Awareness Development n of Loyalty IDEAS COME FROM INFORMATION COMES • Word of mouth FROM • Following other • Distributor website (tied for first) Once again, there is a shift restaurants/chefs • Distributor sales representativetoward general internet •
Slide 5: Reaching the Operator
Reaching the Operator Consideratio Retention & Awareness Development n of Loyalty IDEAS COME FROM INFORMATION COMES LOYALTY IS CREATED BY • Word of mouth FROM • Maintaining high levels of • Following other • Distributor website (tied for first) service/consistent supply restaurants/chefs • Distribut
Slide 6: In-unit is business focus but off-premise is growth engine
THE FUTURE OF ON-PREMISE AND SUPPLIER ACTIVATION OFF-PREMISE “In-unit” is Prioritize business focus versatility to but off-premise is meet operator growth engine omnichannel requirements © 2025 Technomic, Inc. | Foodservice Planning Program
Slide 7: Delivery occasions narrowing
Delivery occasions narrowing Uptick in Supplier • Solo orders • To satisfy cravings Activation • Snacks/off-peak dayparts Lean into craveability, • Third-party ordering shareables and bundles, varied daypart applications Base: 112,000 recent restaurant guests per calendar year Source: Technomic Igni
Slide 8: Operators are enhancing service formats, extending off-premise
THE FUTURE OF ON-PREMISE AND SUPPLIER ACTIVATION OFF-PREMISE Step up with Operators are menu item enhancing service engineering, formats, extending packaging, concepts menuing expertise Fill operator data/ insights gaps, particularly about © 2025 Technomic, Inc. | Foodservice Planning Program
Slide 9: Daypart dynamics: busy lifestyles disrupt mealtime boundaries
DAYPART DYNAMICS SUPPLIER ACTIVATION Consumers’ busy Promote lifestyles, flexible versatile, schedules multiple- disrupting the daypart traditional products mealtime boundaries © 2025 Technomic, Inc. | Foodservice Planning Program
Slide 10: Consumer need to connect at dinner will remain strong
DAYPART DYNAMICS SUPPLIER ACTIVATION Consumer need Support to connect at experiential dinner will remain occasions both strong, especially on- and off- while relaxing at premise home © 2025 Technomic, Inc. | Foodservice Planning Program
Slide 11: 2025: Expect to See a Better Year
2025: Expect to See a Better Year © 2025 Technomic, Inc. | Foodservice Planning Program
Slide 12: Foodservice Industry Growth
FOODSERVICE INDUSTRY GROWTH RSE BASIS PURCHASES/SHIPMENT BASIS 2024 (P) 2025 (F) 2024 (P) 2025 (F) 5.1% 4.7% 4.6% 4.1% 3.5% 3.2% 2.8% 2.7% 1.8% 1.8% 0.6% 0.7% Nominal Real CPI Nominal Real PSPI Source: Technomic *Note: CPI=consumer price index for food away from home; PSPI=food purchases/shipments p
Slide 13: Segment outlook
2024 AND 2025 REAL RSE YOY CHANGE 0.6% Total industry 1.8% 2.3% Travel & leisure 2.8% 2.2% 2024 (P) Segment Noncomm. 2025 (F) 1.6% 1.8% outlook Retailers 2.9% 0.8% LSR 1.8% -1.5% FSR 1.2% Source: Technomic Note: Real=inflation removed; (P)=preliminary; (F)=forecasted © 2025 Technomic, Inc. | Foodser
Slide 14: Sustained growth to return in 2025
Sustained growth to return in 2025 More dealing Moderating inflation More confident consumer Industry hits $1 trillion in sales without alcohol 50/50 foodservice-retail consumer dollar split © 2025 Technomic, Inc. | Foodservice Planning Program
Slide 15: Restaurants fare better
Restaurants fare better FSR independent and chain turnaround Net positive unit change Revitalization © 2025 Technomic, Inc. | Foodservice Planning Program
Slide 16: Other segment highlights
Other segment highlights Lodging C-Store Services reopening Foodservice but not to full capacity Prime players expand Slowing occupancy Senior Living Supermarket Aging population Foodservice Some pent-up demand Solid value option Foodservice a differentiator Image Source: Shutterstock © 2025 Technom
Slide 17: Other segment highlights
Other segment highlights Business & Industry Colleges & Hybrid is here to Universities stay Enrollment is up Refreshment K-12 Services Slowing/declining Micromarkets enrollment on the replacing cafeterias in horizon white-collar workplaces Image Source: Shutterstock © 2025 Technomic, Inc. | Foodserv
Slide 18: "The best vision is insight"
“The best vision is insight” —Malcolm Forbes Image Source: Shutterstock © 2025 Technomic, Inc. | Foodservice Planning Program