Neogen Corporation · NASDAQ:NEOG
Neogen — 43rd Annual William Blair Growth Stock Conference (June 2023)
13 slides from Neogen's conference presentation, Jun 6, 2023
Slide 1: William Blair Growth Stock Conference
William Blair Growth Stock Conference June 6, 2023 ©2020 NEOGEN Corporation. All rights reserved.
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” as that term is defined in Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identified b
Slide 3: Well-Positioned to Address Global Food Security Challenges
Well-Positioned to Address Global Food Security Challenges Serving Large and …with Attractive …Addressed by a Comprehensive Growing Markets… Long-Term Fundamentals… Offering of Global Solutions Est. Market Est. LT Significant Tailwinds Product Mix Size Growth Rate Increasingly health-conscious con
Slide 4: Strategically Compelling Combination
Strategically Compelling Combination Global Leader in Food Security Legacy Neogen Former 3M Food Safety NEOGEN Broader A leading pure-play food security product offering to enhance company, spanning Food Safety, A leader in Food Safety solutions customer solutions Animal Safety and Genomics Increase
Slide 5: Neogen Legacy Product Offering
Neogen Legacy Product Offering Food Safety Animal Safety Genomics Protecting the Food Supply Ensuring Wellbeing of Livestock & Pets Improving Food Security Food safety products that reach all segments Develop solutions for animal protein, animal Develop solutions that allow protein producers o
Slide 6: Former 3M Food Safety Division Product Offering
Former 3M Food Safety Division Product Offering Indicator Hygiene Sample Pathogen Allergen Testing Monitoring Handling Detection Testing Revenue ~55% ~14% ~14% ~14% < 3% Recurring revenue Contribution driven by >95% of revenues attributed to consumable products Consumables Hygiene monitoring and pat
Slide 7: Integrated Offering Covering the Global Food Security Chain
Integrated Offering Covering the Global Food Security Chain Regulatory Focus Genomic Improvement Feed Production Biosecurity & Hygiene Food Security Agriculture and Diagnostic Farm Production Screening Consumer Processing Testing and Compliance 7 ©2023 Neogen Corporation. All rights reserved.
Slide 8: Integration Fully Underway
Integration Fully Underway Current Status Expected Status – Q3 FY24 Notable improvement in transition Construction of new facility complete, Indicator Testing manufacturing production from Q3 installation of equipment underway Sample Handling Transition underway Fully integrated Manufacturing Transi
Slide 9: Fundamentally Enhanced Financial Profile
Fundamentally Enhanced Financial Profile Fiscal Year Ending May 31, 2022 (Pre-Merger) 2025 (Target) Revenue $527 million ~$1 billion Adjusted EBITDA $115 million ~$300 million Adjusted EBITDA Margin 22% ~30% World-class food security company well-positioned to capitalize on resilient end markets and
Slide 10: Well-Positioned to Extend Strong Track Record of Growth
Well-Positioned to Extend Strong Track Record of Growth Neogen and Former 3M Food Safety Division Revenue Growth (FY2000 – FY2022) 23-Year CAGR: ~9% (largely organic) 23-Year CAGR: ~15% (organic + M&A) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 201
Slide 11: Q4 FY23 Initial View
Q4 FY23 Initial View Legacy Neogen Food Safety – soft end market conditions noted on last earnings continued; core revenue growth broadly in line with expectations Animal Safety – continued compare and destocking challenges, although end market pull-through remains supportive; core growth slight
Slide 12: Appendix
Appendix ©2023 Neogen Corporation. All rights reserved.
Slide 13: Non-GAAP Reconciliations
Non-GAAP Reconciliations 13 ©2023 Neogen Corporation. All rights reserved.
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