Turning Point Brands, Inc. · NYSE:TPB
Turning Point Brands — Q4 2021 Earnings Presentation
14 slides from Turning Point Brands's earnings presentation, Feb 22, 2022
Slide 1: Q4 2021 Results
Turning Point Brands (NYSE: TPB) Q4 2021 Results February 22, 2022 | NYSE: TPB | 5201 INTERCHANGE WAY, LOUISVILLE KY | TURNINGPOINTBRANDS.COM |
Slide 2: Disclaimer
Disclaimer Turning Point Brands (NYSE: TPB) FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "inten
Slide 3: TPB Business Segments
Turning Point Brands (NYSE: TPB) TPB Business Segments Zig-Zag Products Stoker’s Products NewGen Products Rolling papers and Make-Your-Own Loose leaf chewing tobacco and moist Innovative alternative and vapor products (“MYO”) cigar wraps snuff tobacco FY 20211 $176mm $124mm $145mm Key Brands Accel
Slide 4: Consolidated Results Q4 2021 Commentary
Turning Point Brands (NYSE: TPB) Consolidated Results Q4 2021 Commentary NewGen Products 0% ($ in millions) Q4 20 Q4 21 YoY FY 20 FY 21 YoY NewGen Q4 2021 Sales $105.3 $105.3 0% $405.1 $445.5 10% Products Q4 2021 Zig-Zag 26% Operating Stoker's Adj Gross Profit $52.3 $50.6 -3% $190.0 $218.1 15% Zig-Z
Slide 5: Zig-Zag Products Q4 2021 Commentary
Turning Point Brands (NYSE: TPB) Zig-Zag Products Q4 2021 Commentary ($ in millions) Q4 20 Q4 21 YoY FY 20 FY 21 YoY Wraps $23.5 $19.6 -17% $66.0 $78.5 19% US Papers & E-Commerce 14.0 17.9 28% 52.4 66.8 27% Canada 2.1 7.0 230% 9.0 25.1 179% Cigars and Other 0.9 1.5 66% 5.4 6.1 14% Total Sales $40.5
Slide 6: Stoker's Products Q4 2021 Commentary
Turning Point Brands (NYSE: TPB) Stoker’s Products Q4 2021 Commentary ($ in millions) Q4 20 Q4 21 YoY FY 20 FY 21 YoY MST $17.0 $19.7 16% $68.0 $78.1 15% Looseleaf 11.8 11.5 -3% 47.9 46.2 -3% Total Sales $28.8 $31.2 8% $115.9 $124.3 7% Gross Profit $15.3 $16.9 10% $61.8 $68.1 10% Margin 53.3% 54.3%
Slide 7: NewGen Products Q4 2021 Commentary
Turning Point Brands (NYSE: TPB) NewGen Products Q4 2021 Commentary ($ in millions) Q4 20 Q4 21 YoY FY 20 FY 21 YoY Sales $36.0 $28.0 -22% $156.4 $144.7 -7% Adj Gross Profit $11.8 $7.2 -38% $49.9 $47.3 -5% Margin 32.7% 25.8% 31.9% 32.7% Adj Operating Income $1.3 ($2.4) -284% $6.3 $3.3 -48% Margin 3.
Slide 8: Balance Sheet and Liquidity
Turning Point Brands (NYSE: TPB) Balance Sheet and Liquidity ($ in millions) FY 2020 FY 2021 First Lien Notes $130.0 - PPP Note Payable 7.5 - Durfort Seller Note 10.0 - 5.625% Senior Secured Due 2/26 250.0 2.5% Convertible Note Due 7/24 172.5 172.5 Gross Debt $320.0 $422.5 Cash 41.8 128.3 Net Debt $
Slide 9: CLIPPER Distribution Agreement
Turning Point Brands (NYSE: TPB) CLIPPER Distribution Agreement CLIPPER and Zig-Zag are iconic lifestyle brands with gold standard products and a long, respected history ▪ Entered into agreement with Flamagas for exclusive distribution of CLPPER® lighters in the U.S. and Canada ▪ CLIPPER is the #1 r
Slide 10: FY 2022 Outlook
Turning Point Brands (NYSE: TPB) FY 2022 Outlook ▪ At this time, TPB projects the following for 2022: ▪ Zig-Zag Products sales of $193 to 203 million vs. $176 million in FY 2021 (12% growth at mid-point) ▪ Stoker’s Products sales of $127 to $134 million vs. $124 million in FY 2021 (5% growth at mid-
Slide 11: Thank You
Turning Point Brands (NYSE: TPB) THANK YOU | NYSE: TPB | 5201 INTERCHANGE WAY, LOUISVILLE KY | TURNINGPOINTBRANDS.COM |
Slide 12: Appendix
Turning Point Brands (NYSE: TPB) Appendix | NYSE: TPB | 5201 INTERCHANGE WAY, LOUISVILLE KY | TURNINGPOINTBRANDS.COM |
Slide 13: EBITDA Adjustment Detail
Turning Point Brands (NYSE: TPB) EBITDA Adjustment Detail Turning Point Brands, Inc. Reconciliation of GAAP Net Income to Adjusted EBITDA (dollars in thousands) (unaudited) Three Months Ended December 31, 2021 2020 Net income attributable to Turning Point Brands, Inc. $ 11,454 $ 14,378 Add: Interest
Slide 14: EBITDA Adjustment Detail
Turning Point Brands (NYSE: TPB) EBITDA Adjustment Detail Turning Point Brands, Inc. Reconciliation of GAAP Net Income to Adjusted EBITDA (dollars in thousands) (unaudited) For the Year Ended December 31, 2021 2020 Net income attributable to Turning Point Brands, Inc. $ 52,059 $ 38,192 Add: Interest