Lassonde Industries, Inc. Class A · TSX:LAS.A
Lassonde Industries, Inc. Class A — Q1 2025 Earnings Presentation
28 slides from Lassonde Industries, Inc. Class A's earnings presentation, May 2025
Slide 1: Investor Presentation
Investor Presentation First quarter ended March 29, 2025 LASSONDE INDUSTRIES INC.
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements and use of financial Forward-Looking Statements measures not in accordance with IFRS This presentation contains “forward-looking information” and the Corporation’s oral and written public communications that do not constitute historical fact may be deemed to be “forward-
Slide 3: Forward-Looking Statements (cont'd)
3 Forward-Looking Statements and use of financial Forward-Looking Statements measures not in accordance with IFRS (cont’d) The Corporation’s ability to achieve its sustainability targets and goals is further subject to, among other factors, its ability to access and implement all technology necessar
Slide 4: Beginning 2025 on a Positive Note
4 Beginning 2025 on a Positive Note Beginning 2025 on a Positive Note Solid sales and operating profit growth Sales increased 22.8% to $700 million 9.3% sales growth excluding foreign exchange impact and contribution from Summer Garden Market share gains in Canadian and U.S. beverage activities
Slide 5: U.S. Beverages
5 U.S. Beverages U.S. Beverages Sustained our momentum by gaining market share First quarter volume up 10% in a slightly contracting market Key contributing factors: Build-back initiatives with new and existing customers Better network efficiency North Carolina single-serve line Mechanical
Slide 6: Canadian Beverages
6 Canadian Beverages Canadian Beverages Successful execution on pricing to offset commodity inflation Productivity improvements through high-speed lines Benefit from effective merchandising, product innovation and rising consumer sentiment to “Buy Canadian” Market share gains across our branded an
Slide 7: Specialty Food
7 Specialty Food Specialty Food Solid quarter from Summer Garden Sales of $55.5 million EBITDA(1) of $13.5 million, representing a margin of 24% Sales growth from legacy operations in retort products Premium glass jar soups and sauces Continued category growth in the premium segment New pr
Slide 8: Organizational Changes
8 Organizational Changes Organizational Changes Creation of North American Beverage Division Comprises two U.S. beverage business units, a beverage business unit in Canada, and North American Food Service unit Amanda Burns appointed Chief Commercial Officer, North American Beverages Previously P
Slide 9: Organizational Changes (cont'd)
9 Organizational Changes (cont’d) Organizational Changes Elizabeth Hill named General Manager, Private Label Beverages USA Extensive experience in sales and marketing, building dynamic teams, and stimulating sales growth Martin Lauzière named General Manager, Beverages Canada Has held various se
Slide 10: Q1 2025 Sales Increase ($M)
10 Q1 2025 Sales Increase ($M) Q1 2025 Sales Increase Key Highlights $699.7 $55.5M contribution from Summer Garden (1) +22.8% $569.8 FX impact: ▲ $21.3M Effect of sales volume (U.S. driven) ▲ $27.1M: ▲ $12.9M private labels ▲ $14.2M national brands Selling price adjustments (Canada driven)▲$
Slide 11: Q1 2025 Improved Profitability
11 Q1 2025 Improved Profitability Q1 2025 Improved Profitability Adjusted Profit Attributable to the Gross Profit ($M) Adjusted EBITDA(1) ($M) Shareholders(1) ($M) & Adjusted EPS(1) $183.2 $27.3 $71.5 $25.1 $149.6 +22.5% +8.8% +36.5% $52.4 10.2% $4.00 26.2% 26.2% 9.2% $3.68 2024 2025 2024 2025 2024
Slide 12: Cash Flows ($M)
12 Q1 2025 Cash Flows ($M) Cash Flows Operating Activities Key Highlights Lower operating cash flow in Q1-2025 $11.3 Higher cash requirement from working capital Higher raw material and finished goods inventory $26.4M net outflow of payables related to CAPEX projects Unfavourable change in
Slide 13: Net Debt ($M)
13 Q1 2025 Net Debt(1) ($M) Net Debt (1) 700 $587.1 600 500 $456.0 $449.3 $23,5 $7,5 $6,1 $79,1 $587,1 $93,9 400 ($70,0) ($2,3) $449,3 1,83x 1,99x 300 1,63x $218.2 $200.5 200 1.01x 0,86x 100 0 Net Debt (1) Working CapEx Tax & Dividends Others EBITDA(1) FX Impact Net Debt (1) March 30, June 29, Sept.
Slide 14: Focus on Executing Strategic Priorities
14 Focus on Executing Strategic Priorities U.S. Beverages Focus on Executing Strategic Priorities Continue private label volume build-back plan Ramp up the North Carolina single-serve line Execute initiatives to improve capacity and lower costs Canadian Beverages Fortify leadership through:
Slide 15: 2025 Outlook
15 2025 Outlook 2025 Outlook Sales growth of ~10%, excluding FX Full-year contribution from Summer Garden Run-rate effect of existing and planned selling price adjustments Sequential sales volume improvement related to: Pace of U.S. build-back plan Additional volume from new single-serve l
Slide 16: Risk Factors
16 Risk Factors(1) Risk Factors Commodities expected to remain volatile Orange concentrate costs extremely volatile over the past few weeks Lower costs at the end of hedging horizon if prices stay at these levels Higher apple concentrate costs affected Q1 Price adjustments late in the period
Slide 17: Conclusion
17 Conclusion Conclusion We expect our momentum to continue throughout 2025 Lassonde is well positioned to grow its reach in the North American food and beverage market Driven by an extensive and diversified product portfolio
Slide 18: Financial Measures Not in Accordance with IFRS
Financial Measures Not in Accordance with IFRS
Slide 19: Financial Measures Not in Accordance with IFRS
19 Financial Measures Not in Accordance with IFRS Financial Measures Not in Accordance with IFRS Items impacting the comparability between periods The table on the right contains a list, description and quantification of items impacting the comparability of the financial performance between the peri
Slide 20: Financial Measures Not in Accordance with IFRS (cont'd)
20 Financial Measures Not in Accordance with IFRS (cont’d) Financial Measures Not in Accordance with IFRS Adjusted Profit Attributable to the Corporation’s Shareholders and Adjusted EPS Adjusted profit attributable to the Corporation’s shareholders and adjusted EPS are financial measures used by the
Slide 21: Financial Measures Not in Accordance with IFRS (cont'd)
21 Financial Measures Not in Accordance with IFRS (cont’d) Financial Measures Not in Accordance with IFRS Days Operating Working Capital is a financial measure used by the Corporation to represent the number of days of sales tied up as operating working capital. To calculate this financial measure,
Slide 22: Key Information
Key Information
Slide 23: Financial Highlights
23 Financial Highlights Financial Highlights (1) Financial measure not in accordance with IFRS. Please refer to section on Financial Measures Not in Accordance with IFRS.
Slide 24: Sales Evolution
24 Sales Evolution Sales Evolution
Slide 25: Days Operating Working Capital
25 Q1 2025 Days Operating Working Capital (1) Days Operating Working Capital 100 92 88 90 87 80 80 79 78 77 80 75 70 65 60 50 53 55 50 45 46 Days 48 50 46 48 44 43 43 42 42 40 40 44 38 44 38 34 30 23 21 21 20 19 18 18 18 20 17 16 10 0 Q4-19 Q4-20 Q4-21 Q4-22 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 DSO (
Slide 26: Evolution – Frozen Concentrate Orange Juice
26 Evolution – Frozen Concentrate Orange Juice Frozen Concentrate Orange Juice Source: Trading Economics
Slide 27: Evolution – Apple Juice Concentrate
27 Evolution – Apple Juice Concentrate Apple Juice Concentrate AJC IMPORTS - MARKET USDA $ per USG 2020-2025 $14,00 $13,60 $13,10 $13,00 $11,90 $12,00 $10,75 $10,75 $10,82 $11,00 $10,50 $10,61 $10,35 $10,35 $10,36 $9,75 $9,85 $10,00 $9,47 $8,81 $9,00 $8,47 $7,79 $8,00 $6,92 $7,07 $7,02 $7,06 $7,00 $
Slide 28: lassonde.com
B Lassonde lassonde.com