Lassonde Industries, Inc. Class A · TSX:LAS.A
Lassonde Industries, Inc. Class A — Q4 2024 Earnings Presentation
29 slides from Lassonde Industries, Inc. Class A's earnings presentation, March 2025
Slide 1: Investor Presentation
Investor Presentation Fourth quarter and fiscal year ended December 31, 2024 LASSONDE INDUSTRIES INC.
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements and use of financial Forward-Looking Statements measures not in accordance with IFRS This presentation contains “forward-looking information” and the Corporation’s oral and written public communications that do not constitute historical fact may be deemed to be “forward-
Slide 3: Forward-Looking Statements (cont'd)
3 Forward-Looking Statements and use of financial Forward-Looking Statements measures not in accordance with IFRS (cont’d) The Corporation’s ability to achieve its sustainability targets and goals is further subject to, among other factors, its ability to access and implement all technology necessar
Slide 4: Solid Performance in 2024
4 Solid Performance in 2024 Solid Performance in 2024 Record financial results • Sales of over $2.6 billion • Adjusted EBITDA(1) of $276 million • Positive contributions from all divisions • 10% volume growth in U.S. Beverage vs. slight decline in category • Canada executed pricing against record hi
Slide 5: U.S. Beverages
5 U.S. Beverages U.S. Beverages Quarter driven by volume gains • Build-back plan: existing and new customers, including a prominent convenience chain Single-serve ramp-up disrupted by hurricane Helene and mechanical issues • Plant closed for 15 days, followed by 3-4 weeks of recovery before returnin
Slide 6: Update on U.S. Strategic Investments
6 Update on U.S. Strategic Investments Update on U.S. Strategic Investments New facility in New Jersey • Construction remains on schedule • Equipment ordered • Contractors appointed • Completed detailed engineering design • Received town’s approval earlier in March • Begin transfer of production in
Slide 7: Canadian Beverages
7 Canadian Beverages Canadian Beverages Successfully executed on pricing to offset record orange inflation • Inflation mitigated through innovation and productivity improvements New marketing campaign promoting roots and strong brands • Lassonde: “Canadian to the core” • Oasis: “There’s no taste lik
Slide 8: Specialty Food
8 Specialty Food Specialty Food Full contribution from Summer Garden • Sales of $55.7 million • EBITDA(1) of $12.5 million, representing a solid margin over 22% Sales growth from legacy operations in retort products • Premium glass jar soups and sauces • Strong performance in the broth category Focu
Slide 9: Q4 2024 Sales Increase
9 Q4 2024 Sales Increase ($M) Q4 2024 Sales Increase Key Highlights $738.1 Additional sales from Acquired Entities(1) ▲ $55.7M Summer Garden +22.0% $604.8 ▲ $4.0M Diamond (full period in 2024; partial in 2023) FX impact: ▲ $9.1M Effect of sales volume (U.S. driven) ▲ $40.8M: ▲ $20.6M private l
Slide 10: Q4 2024 Improved Profitability
10 Q4 2024 Improved Profitability Q4 2024 Improved Profitability Adjusted Profit Attributable to the Gross Profit ($M) Adjusted EBITDA(1) ($M) Shareholders(1) ($M) & Adjusted EPS(1) $192.9 $79.6 $35.0 $152.5 +26.5% +51.3% $52.6 +62.8% $21.5 10.8% 26.1% $5.13 25.2% 8.7% $3.14 2023 2024 2023 2024 2023
Slide 11: Fiscal 2024 Financial Highlights
11 Fiscal 2024 Financial Highlights Fiscal 2024 Financial Highlights Adjusted Profit Attributable to the Sales ($M) Adjusted EBITDA(1) ($M) Shareholders(1) ($M) & Adjusted EPS(1) $2,600.9 $130.0 $275,8 $2,314.9 +12.4% +33.2% +44.6% $207,1 $89.9 10.6% $19.05 8.9% $13.18 2023 2024 2023 2024 2023 2024
Slide 12: Cash Flows ($M)
12 Q4 2024 Cash Flows ($M) Cash Flows Operating Activities Key Highlights $233.9 $224.9 Slightly lower operating cash flow in Q4-2024 Lower cash generation from working capital Higher taxes and interest paid $77.8 $75.7 Partly offset by: Higher EBITDA(1) 2023 Net withdrawal from defined
Slide 13: Net Debt ($M)
13 Q4 2024 Net Debt(1) ($M) Net Debt (1) $456.0 $449.3 $11,1 $6,8 $8,7 $30,2 $21,7 $456,0 $449,3 ($70,8) ($14,4) $218.2 $200.5 1,83x $190.7 1,63x 0.92x 1.01x 0,86x (1) Dec. 31, March 30, June 29, Sept. 28, Dec. 31, Net Debt (1) CapEx FX Impact Lease Dividends Others EBITDA Working Net Debt (1) as at
Slide 14: Looking Ahead to 2025
14 Looking Ahead to 2025 Looking Ahead to 2025 U.S. Beverages Continue private label volume build-back plan Ramp up the North Carolina single-serve line Pursue capacity expansion initiatives Canadian Beverages Fortify leadership through: Innovation Channel expansion Targeted marketing
Slide 15: 2025 Sales Outlook
15 2025 Sales Outlook 2025 Sales Outlook Sales growth of ~10%, excluding FX Full-year contribution from Summer Garden Run-rate effect of existing and planned selling price adjustments Sequential sales volume improvement related to: Pace of U.S. build-back plan Additional volume from new si
Slide 16: Threat of Trade Dispute
16 Threat of Trade Conflict(1) Threat of Trade Dispute Uncertainty has increased transportation and warehousing costs Expected to continue increasing at least for the first half of 2025 Potential supply chain disruptions Our context: Products made in Canada and sold in the U.S.: slightly more
Slide 17: Conclusion
17 Conclusion Conclusion We expect our momentum to continue despite a more volatile economic backdrop We have prepared measures to mitigate the impact of potential tariffs Lassonde is well positioned to sustain growth in 2025 and beyond Driven by a strong product portfolio and talented teams
Slide 18: Financial Measures Not in Accordance with IFRS
Financial Measures Not in Accordance with IFRS
Slide 19: Financial Measures Not in Accordance with IFRS
19 Financial Measures Not in Accordance with IFRS Financial Measures Not in Accordance with IFRS Items impacting the comparability between periods The table on the right contains a list, description and quantification of items impacting the comparability of the financial performance between the peri
Slide 20: Financial Measures Not in Accordance with IFRS (cont'd)
20 Financial Measures Not in Accordance with IFRS (cont’d) Financial Measures Not in Accordance with IFRS Adjusted Profit Attributable to the Corporation’s Shareholders and Adjusted EPS Adjusted profit attributable to the Corporation’s shareholders and adjusted EPS are financial measures used by the
Slide 21: Financial Measures Not in Accordance with IFRS (cont'd)
21 Financial Measures Not in Accordance with IFRS (cont’d) Financial Measures Not in Accordance with IFRS Days Operating Working Capital is a financial efficiency measure used by the Corporation to represent the number of days of sales tied up as operating working capital. To calculate this financia
Slide 22: Key Information
Key Information
Slide 23: Financial Highlights
23 Financial Highlights Financial Highlights (1) Financial measure not in accordance with IFRS. Please refer to section on Financial Measures Not in Accordance with IFRS.
Slide 24: Sales Evolution
24 Sales Evolution Sales Evolution
Slide 25: New Facility in New Jersey
25 New Facility in New Jersey New Facility in New Jersey
Slide 26: Days Operating Working Capital
26 Q4 2024 Days Operating Working Capital (1) Days Operating Working Capital 100 95 93 88 90 87 80 80 80 79 78 77 80 75 68 70 65 60 50 57 53 52 50 45 46 Days 50 47 46 46 49 48 44 43 43 42 42 42 40 39 44 40 40 44 38 38 34 30 21 21 20 20 20 19 18 18 18 18 18 20 17 16 10 0 Q4-18 Q4-19 Q4-20 Q4-21 Q4-22
Slide 27: Frozen Concentrate Orange Juice
27 Evolution – Frozen Concentrate Orange Juice Frozen Concentrate Orange Juice Source: Trading Economics
Slide 28: Apple Juice Concentrate
28 Evolution – Apple Juice Concentrate Apple Juice Concentrate AJC IMPORTS - MARKET USDA $ per USG 2020-2025 $14,00 $13,60 $13,10 $13,00 $11,90 $12,00 $10,75 $10,75 $10,82 $11,00 $10,50 $10,61 $10,35 $10,35 $10,36 $9,75 $9,85 $10,00 $9,47 $8,81 $9,00 $8,47 $7,79 $8,00 $6,92 $7,07 $7,02 $7,06 $7,00 $
Slide 29: lassonde.com
B Lassonde lassonde.com