Slide 1: Q4 & FY 2014 Performance Update
Exhibit 99.1 A Taste of What’s Cooking at US Foods Q4 & FY 2014 Performance Update March 2015
Slide 2: Forward-looking statements notice
While the information provided herein is believed to be accurate and reliable, US Foods, Inc. (the “Company”) does not make any representations or warranties, express or implied, as to the accuracy or completeness of such information or as to future results. No representation or warranty is made tha
Slide 3: Non-GAAP financial measures
Non-GAAP financial measures This presentation contains unaudited financial measures which are not required by, or presented in accordance with, accounting principals generally accepted in the United States of America (“GAAP”), including Reported EBITDA, Adjusted EBITDA, Consolidated EBITDA, Debt Cov
Slide 4: Agenda
Agenda •Business Highlights •Financial Update •Closing Comments •Appendix FOOD. FOOD PEOPLE. EASY. 3
Slide 5: Agenda
Agenda •Business Highlights •Financial Update •Closing Comments •Appendix FOOD. FOOD PEOPLE. EASY. 4
Slide 6: Business Highlights
Business Highlights • Q4 results • Sales increased 3.7%, and cases decreased 1.8% • Net income was $48 million • Adjusted EBITDA was $240 million, a 2.4% decrease from last year 1 • FY 2014 results • Sales increased 3.2%, and cases decreased 1.2% • Net loss was $73 million • Adjusted EBITDA was $866
Slide 7: Agenda
Agenda •Business Highlights •Financial Update •Closing Comments •Appendix FOOD. FOOD PEOPLE. EASY. 6
Slide 8: Q4 Financial Performance
Q4 Financial Performance $ IN MILLIONS Q4 2014 Q4 2013 B/(W) Y-O-Y CHANGE NET SALES $5,754 $5,547 3.7% GROSS PROFIT $978 $972 $6 1 ADJUSTED GROSS PROFIT $969 $977 ($8) % OF NET SALES 16.8% 17.6% (77) bps OPERATING EXPENSES $865 $864 ($1) 1 ADJUSTED OPERATING EXPENSES $729 $731 $2 % OF NET SALES 12.7
Slide 9: FY 2014 Financial Performance
FY 2014 Financial Performance $ IN MILLIONS FY 2014 FY 2013 B/(W) Y-O-Y CHANGE NET SALES $23,020 $22,297 3.2% GROSS PROFIT $3,798 $3,823 ($25) ADJUSTED GROSS PROFIT 1 $3,858 $3,835 $23 % OF NET SALES 16.8% 17.2% (44) bps OPERATING EXPENSES $3,546 $3,502 ($44) ADJUSTED OPERATING EXPENSES 1 $2,992 $2,
Slide 10: Cash Flow
Cash Flow $ IN MILLIONS Q1 2014 Q2 2014 Q3 2014 Q4 2014 FY 2014 Cash from Operating Activities $31 $216 $56 $99 $402 Capital Expenditures, net of Proceeds ($40) ($25) ($16) ($36) ($118) Cash provided by Financing Activities $1 ($45) ($12) ($64) ($120) Net Cash Change ($8) $146 $27 ($1) $164 Beginnin
Slide 11: Capital Structure & Credit Statistics
Capital Structure & Credit Statistics Debt /LTM As of Consolidated $ IN MILLIONS 12/27/2014 EBITDA Credit Statistics Debt Coverage Interest Coverage ABL Revolver (2016) $0 Ratio 2 Ratio 3 ABS Facility (2016) $636 9.0x 9.0x CMBS Facility (2017) $472 8.0x 8.0x 8.2x Term Loan (2019) $2,074 7.0x 7.0x Ca
Slide 12: We have $1,173 million of available liquidity.
We have $1,173 million of available liquidity. Liquidity As of $ IN MILLIONS 12/27/2014 Borrowing Availability: ABL Facility (2016) $765 ABS Facility (2016) $64 Total Cash & Equivalents $344 Total Cash and Borrowing Availability $1,173 FOOD. FOOD PEOPLE. EASY. 11
Slide 13: Agenda
Agenda •Business Highlights •Financial Update •Closing Comments •Appendix FOOD. FOOD PEOPLE. EASY. 12
Slide 14: Agenda
Agenda •Business Highlights •Financial Update •Closing Comments •Appendix FOOD. FOOD PEOPLE. EASY. 13
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations Management believes these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s operating performance because they exclude amounts that the Company’s management and board of directors do not consider part of core operating results wh
Slide 16: Non-GAAP Reconciliation - Adjusted EBITDA
Non-GAAP Reconciliation - Adjusted EBITDA. Quarter Ended FY Ended (In millions) Dec 27, 2014 Dec 28, 2013 Dec 27, 2014 Dec 28, 2013 Net income (loss) $ 48 $ (1) $ (73) $ (57) Interest expense, net 71 73 289 306 Income tax provision (benefit) (5) 36 36 30 Depreciation and amortization expense 102 101
Slide 17: Non-GAAP Reconciliation - Adjusted Gross Profit and Adjusted Operating Expenses
Non-GAAP Reconciliation - Adjusted Gross Profit and Adjusted Operating Expenses. Quarter Ended FY Ended (In millions) Dec 27, 2014 Dec 28, 2013 Dec 27, 2014 Dec 28, 2013 Gross Profit 978 972 $ 3,798 $ 3,823 1 Net LIFO reserve change (9) 5 60 12 Adjusted Gross Profit $ 969 $ 977 $ 3,858 $ 3,835 Net s
Slide 18: US Foods - Keeping Kitchens Cooking
@ FOODS KEEPING KITCHENS COOKING.”