Lakeland Industries, Inc. · NASDAQ:LAKE
Lakeland Industries — Q2 2024 Earnings Presentation
13 slides from Lakeland Industries's earnings presentation, Sep 6, 2023
Slide 1: Fiscal Second Quarter 2024 Financial Results Call
¢ Lakeland Protect Your People” Fiscal Second Quarter 2024 Financial Results-Call September 7, 2023
Slide 2: Safe Harbor Statement
Safe Harbor Statement With the exception of historical information, the statements set forth in this presentation include forwarctlooking statements within the meaning of the Private Securit s Litigation Reform Act of 1995 that involve risk and uncertainties. The Company wishes to caution that a num
Slide 3: Lakeland Overview (Nasdaq: LAKE)
Lakeland Overview (Nasdaq: LAKE) What We Do FY2023 Full Year Revenue Global manufacturer of quality, cost-effective, and mission-critical personal protective clothing solutions ‘fa ne ‘ * an 10% G that protect people at work and in their communities ee 7% otherNA ae GEOGRAPHY ae Key Statistics oe Ot
Slide 4: Focus on High Value Applications
Focus on High Value Applications Leveraging core product strengths to increase penetration in High Value markets Product Lines FIRE SERVICE FR/AR PERFORMANCE CHEMICAL DISPOSABLES Lt Ds Applications + Municipal Fire + Energy + Utilities + Energy + Clean Room + Volunteer Fire + Utilities + Petrochemic
Slide 5: Fiscal 2024 Second Quarter Highlights
Fiscal 2024 Second Quarter Highlights Q2-FY24 Highlights Q2-FY24 Revenue + Net sales of $33.1 million and gross margin of 42.9% + High-value, strategic product line growth, led by a 202% increase 7% in ire service 14% Be Asia Revenue $33.1 million aaeue GEOGRAPHY 46% Gross Margin 429% 16% Europe Adj
Slide 6: FQ2 Gross Margin and Adjusted EBITDA Bridge
FQ2 Gross Margin and Adjusted EBITDA Bridge GROSS MARGIN % oe Hl lew a 02% 12% 41.3% 4% 41% 0% ow Organic Fagle Freight cogs RAs Product improvement Mix Initiatives 429% om art ADJUSTED EBITDA $5.0 $50m $1.5M stom 30M $2.5M s2.0M sioM soon Adjusted Organic fagle Currency eRITDA Margin Fluctuation oe
Slide 7: FQ2 Key Takeaways
FQ2 Key Takeaways Fiscal second quarter results included revenue growth in key geographic markets and product lines, including 202% growth in fire service. of Alusted EBITDA grew ~51.7M versus Q2FY23 as higher gross profit more than offset higher SG&A. Eagle Technical Products delivered $0.9M of EBI
Slide 8: Eagle Technical Products Acquisition Enhances Lakeland's Product Portfolio
Eagle Technical Products Acquisition! Enhances Lakeland’s Product Portfolio and Expands Geographical Reach yy Background and Product Portfolio Acquisition Highlights Headquarters + Stockport, UK Complementary product lines to Lakeland!’ 4 = existing portfolio that greatly benefit Lakeland’s differen
Slide 9: LAKE Investment Highlights
LAKE Investment Highlights Positioned for Sustainable Growth Driven by Strategic Operational & Sales Initiatives + Targeting high single digit revenue growth, driven by strong long term growth trends and product segment focus + Investments in manufacturing capabilities enables production flexibility
Slide 10: Appendix
Appendix ¢ Lakeland
Slide 11: Fiscal 2024 Second Quarter Financial Summary
Fiscal 2024 Second Quarter Financial Summary THREE MONTHS ENDED JULY 31, 2023 2022 Variance Net sales $33,071 $28,184 417.3% Gross Margin 42.9% 41.3% +160bps Adjusted EBITDA $4,163 $2,532 464.4% Adjusted EBITDA Margin 12.6% 9.0% +360bps EPS $0.33 $(0.11) sooo:
Slide 12: Non-GAAP Reconciliation - Q2
Non-GAAP Reconciliation - Q2 2023 2022 Net Income to EBITDA Net income (loss) 2465 (3870) Interest 1 3 es 1199 2610 Depreciation and amortization 589 34 EBITDA nase $2107 EBITDA to Adjusted EBITDA (excluding non-cash expenses) Ears 42s 207 Equity compensation Ss a Se ‘Other income expense) al ie Eag
Slide 13: Non-GAAP Reconciliation - Q2
Non-GAAP Reconciliation - Q2 THREE MONTHS ENDED JULY 31, 2023 2022 Adjusted EBITDA Margin Adjusted EBITDA $4,163 $2,532 Divided by net sales $33,071 $28,184 Adjusted EBITDA Margin 12.6% 9.0% (soe cpt Sharenemstion)