Slide 1: Acuity Brands (AYI) Fourth Quarter and Full Year 2021 Results
Acuity Brands (AYI) Fourth Quarter and Full Year 2021 Results
Slide 2: Forward Looking Statements
2 Forward Looking Statements This presentation and the related conference call and webcast and press-release include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are
Slide 3: Non-GAAP Financial Measures
3 This presentation and the related conference call and webcast and press release include the following non-generally accepted accounting principles (“GAAP”) financial measures: “adjusted gross profit,” “adjusted gross profit margin,” “adjusted SD&A expenses,” “adjusted SD&A expenses as a percent of
Slide 4: Fiscal 2021 Key Achievements
4 Fiscal 2021 Key Achievements Improvement Throughout 2021 Returned the Company to Growth Expanded Gross Margin by 40 Basis Points for Full Year 2021 Realigned the Businesses into Lighting and Lighting Controls and the Intelligent Spaces Group Generated Strong Cash Flow and Allocated Capital
Slide 5: AYI: Fourth Quarter and Full Year 2021
AYI: Fourth Quarter and Full Year 2021 Gross Profit Margin Operating Margin Net Sales Sales and Margin Improvement Adjusted Operating Margin1 Diluted EPS Adjusted Diluted EPS1 ($ In Millions, except for EPS) Net Sales Growth 1 Adjusted Operating Profit and Adjusted Diluted EPS for the Fourth Quarter
Slide 6: ABL: Fourth Quarter and Full Year 2021
ABL: Fourth Quarter and Full Year 2021 Focus on Product Vitality and Service 1 ABL Adjusted Operating Profit is Reconciled on Slides 17 and 21 6 Operating Margin Net Sales ($ In Millions) Net Sales Growth $853 $947 $3,181 $3,287 Q4'20 Q4'21 FY'20 FY'21 13.4% 14.5% 14.7% 15.7% N/A 3.3% 14.3% 15.4% N/
Slide 7: ISG: Fourth Quarter and Full Year 2021
ISG: Fourth Quarter and Full Year 2021 Making Spaces Smarter, Safer and Greener 1 ISG Adjusted Operating Profit is Reconciled on Slides 18 and 21 7 Operating Margin Net Sales ($ In Millions) Net Sales Growth $41 $51 $157 $190 Q4'20 Q4'21 FY'20 FY'21 (2.5%) 5.2% 9.5% 13.5% N/A 21.0% (3.9%) 5.1% N/A 4
Slide 8: Full Year 2021 Capital Allocation
Full Year 2021 Capital Allocation 8 $409M Operating Cash Flow $44M CapEx $435M Share Repurchase Creating Value for Shareholders Capital Allocation Priorities Reinvestment in Growth Working Capital CapEx M&A Osram Digital Systems Rockpile Ventures Dividend Maintained Share Repurchases 3.8M Shares
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Slide 10: 2022 Financial Framework
2022 Financial Framework Optimism Heading into Full Year 2022 10 ABL Full Year Revenue Growth: High Single Digits ISG Full Year Revenue Growth: Mid-Teens AYI Full Year Gross Profit Margin: 42+ Percent Capital Allocation Priorities Investment in Growth Investment in M&A Maintain Dividen
Slide 11: Appendix and Non-GAAP Reconciliations
Appendix and Non-GAAP Reconciliations 11
Slide 12: AYI Quarterly Performance
12 $834.7 $792.0 $824.2 $776.6 $776.2 $899.7 $891.2 $992.7 Q1'20 Q1'21 Q2'20 Q2'21 Q3'20 Q3'21 Q4'20 Q4'21 AYI Quarterly Performance Gross Profit Margin Operating Margin Net Sales 42.6% 42.0% 41.7% 43.4% 43.0% 10.0% 10.8% 9.9% 11.7% 13.1% Improvement throughout 2021 Adjusted Operating Margin1 Dilute
Slide 13: ABL Quarterly Trends
ABL Quarterly Trends $798.0 $788.2 $741.6 $853.1 $753.6 $736.8 $850.0 $946.9 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Net Sales Growth Operating Margin Net Sales Adjusted Operating Margin1 (In $Millions) 13.7% 15.2% 12.2% 13.5% 13.3% 14.6% 14.3% 15.4% (5.6%) 13.1% 14.4% (6.5%) 13.8% 15.2% 14.
Slide 14: ISG Quarterly Trends
ISG Quarterly Trends $39.3 $39.1 $37.7 $40.9 $40.8 $43.3 $55.4 $50.5 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Net Sales Growth Operating Margin Net Sales Adjusted Operating Margin1 (In $Millions) 3.3% 14.5% (8.7%) 5.4% (0.5%) 13.3% (3.9%) 5.1% 3.8% (0.2%) 9.1% 10.7% 1.8% 11.1% 46.9% 13.0% 20.
Slide 15: AYI Quarterly Reconciliation: Operating Profit Margin
15 AYI Quarterly Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Adjusted Operating Profit Margin (In $Millions) Second Quarter Feb. 28, 2021 Feb. 29, 2020 Nov. 30, 2020 Nov. 30, 2019 Operating Profit (GAAP) $91.0 $81.4 $85.7 $83.6 + Amortization of acquired intangible assets 10.1
Slide 16: AYI Quarterly Reconciliation: Adjusted Net Income and Adjusted EPS
16 AYI Quarterly Reconciliation of Non-GAAP Measures: Adjusted Net Income and Adjusted Earnings Per Share (In Millions Except Per Share Data) Second Quarter Feb. 28, 2021 Feb. 29, 2020 Nov.30, 2020 Nov.30, 2019 Net Income (GAAP) $62.9 $57.2 + Amortization of acquired intangible assets 10.1 10.4 + Sh
Slide 17: ABL Quarterly Reconciliation: Operating Profit Margin
17 ABL Quarterly Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Adjusted Operating Profit Margin (In $Millions) Second Quarter Feb. 28, 2021 Feb. 29, 2020 Nov. 30, 2020 Nov. 30, 2019 Operating Profit (GAAP) $102.0 $95.8 $98.4 $109.6 + Amortization of acquired intangible assets 6.
Slide 18: ISG Quarterly Reconciliation: Operating Profit Margin
18 ISG Quarterly Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Adjusted Operating Profit Margin (In $Millions) Segment Breakdown (ISG) Second Quarter Feb. 28, 2021 Feb. 29, 2020 Nov. 30, 2020 Nov. 30, 2019 Operating Profit (Loss) (GAAP) $0.8 ($3.4) ($0.1) $1.3 + Amortization of
Slide 19: AYI Full Year Reconciliation: Adjusted Net Income and Adjusted EPS
19 AYI Full Year Reconciliation of Non-GAAP Measures: Adjusted Net Income and Adjusted Earnings Per Share (In Millions Except Per Share Data) Net Income (GAAP) + Amortization of acquired intangible assets + Share-based payment expense + Acquisition-related items1 Adjusted net income + Special Charge
Slide 20: AYI Full Year Reconciliation: Operating Profit Margin
20 AYI Full Year Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Adjusted Operating Profit Margin (In $Millions) Operating Profit (GAAP) + Amortization of acquired intangible assets + Share-based payment expense + Acquisition-related items1 Adjusted Operating Profit Operating Prof
Slide 21: ABL and ISG Full Year Reconciliation: Operating Profit Margin
21 ABL and ISG Full Year Reconciliation of Non-GAAP Measures: Adjusted Operating Profit and Adjusted Operating Profit Margin (In $Millions) ABL Aug.31, 2021 Aug.31, 2020 Aug.31, 2020 Aug.31, 2019 Operating Profit (GAAP) $476.2 $425.8 $9.9 ($3.9) + Amortization of acquired intangible assets 27.9 27.4