Fgi Industries Ltd. · NASDAQ:FGI
Fgi Industries — Q1 2025 Earnings Presentation
15 slides from Fgi Industries's earnings presentation, 2025
Slide 1: Investor Presentation First Quarter 2025
Investor Presentation First Quarter 2025
Slide 2: Disclaimer
Disclaimer Certain matters discussed in this presentation contains forward-looking statements concerning our business, operations and financial performance and conditions, as well as our plans, objectives and expectations for our business operations and financial performance and condition. These sta
Slide 3: FGI Industries at a Glance
FGI Industries at a Glance Leading global B2B supplier of Kitchen and Bath Products Revenue by Product Category FGI is a leading global B2B supplier of Kitchen and Bath products with a reputation of Innovation, Others Shower System Quality and Service developed over 30 years in conjunction with our
Slide 4: Company Overview: Diverse Business Mix Provides Stability
Company Overview Diverse Business Mix Provides Stability Sanitaryware Bath Furniture Shower Systems Kitchen Cabinetry, etc. $81MM in 2024 Sales (62% of sales) $15MM in 2024 Sales (11% of sales) $26MM in 2024 Sales (19% of sales) $10MM in 2024 Sales (8% of sales) Sanitaryware segment markets and sell
Slide 5: Key Investment Highlights
Key Investment Highlights Opportunity to drive significant shareholder value Diversified Portfolio and History of Innovation • Diversified mix of products, market segments and sales channels • Tradition of strong innovation with leading ‘on-trend’ designs: Innovation, Quality, Services We are dedica
Slide 6: First Quarter Overview and Financial Review
First Quarter Overview and Financial Review 6
Slide 7: Business Highlights – 1Q25
Business Highlights – 1Q25 Revenue Financial Position BPC Update First quarter revenue increased 8.0% We ended the quarter with $11.9 million Brands year-over-year due to growth in Bath of net debt(1) and total liquidity of $14.3 Furniture and Covered Bridge. million, which we believe is sufficient
Slide 8: Quarterly Consolidated Financial Results
Quarterly Consolidated Financial Results Total Revenue Gross Profit Adjusted Operating Income(1) Adjusted Net Income(1) $MM $MM $MM $MM $134.3 $35.9 $1.6 $120.8 $33.3 $2.5 $(0.2) $(0.2) $30.8 $33.2 $8.4 $8.9 $(1.3) $(1.1) $(2.7) $(1.8) 1Q24 1Q25 LTM LTM 1Q24 1Q25 LTM LTM 1Q24 1Q25 LTM LTM 1Q24 1Q25
Slide 9: Quarterly Business Line Results
Quarterly Business Line Results Revenue by Product Category Sanitaryware Bath Furniture Shower Systems Other $MM $MM $MM $MM $25.4 $12.3 $80.7 $80.8 $15.8 $20.7 $12.9 $6.5 $20.5 $20.2 $4.1 $5.8 $5.7 $3.3 $3.1 $1.4 1Q24 1Q25 LTM LTM 1Q24 1Q25 LTM LTM 1Q24 1Q25 LTM LTM 1Q24 1Q25 LTM LTM 1Q24 1Q25 1Q24
Slide 10: Balance Sheet & Liquidity Update
Balance Sheet & Liquidity Update Cash & Availability ($MM) Net Debt (1) ($MM) Balance sheet strength and $24.4 $11.9 liquidity continues to support $22.5 $22.6 $20.9 ongoing working capital needs $17.8 $17.4 $16.3 $15.6 $13.6 $9.9 $9.4 • Cash and availability under our $8.1 $8.4 facilities was $14.3
Slide 11: Financial Outlook 2025 Guidance
Financial Outlook 2025 Guidance Adjusted Adjusted Net Revenue Operating Income Net Income $135 – 145 million $(2.0) – 1.5 million $(1.9) – 1.0 million Guidance for adjusted operating income is presented on an adjusted basis and excludes certain non-recurring items. Guidance for adjusted net income i
Slide 12: Investment Conclusion
Investment Conclusion Ample liquidity to support ongoing growth of business TRUSTED GLOBAL SUPPLIER STRONG ORGANIC GROWTH POTENTIAL We are global, diversified, and reputable supplier We pursue a “BPC” strategy: focus on Brands, of quality kitchen & bath products (Innovation, Products and sales Chann
Slide 13: Appendix: Non-GAAP Reconciliations
Appendix: Non-GAAP Reconciliations For the Three Months Ended For the Twelve Months Ended March 31, March 31, 2025 2024 2025 2024 USD USD USD USD (Loss) income from operations $ (1,280,859) $ (320,934) $ (3,059,516) $ 1,986,436 Adjustments: Non-recurring IPO-related share-based compensation 19,906 5
Slide 14: Appendix: Non-GAAP Reconciliations
Appendix: Non-GAAP Reconciliations For the Three Months Ended For the Twelve Months Ended March 31, March 31, 2025 2024 2025 2024 USD USD USD USD Loss before income taxes $ (1,555,087) $ (515,570) $ (3,321,615) $ 1,142,964 Adjustments: Non-recurring IPO-related share-based compensation 19,906 59,719
Slide 15: Appendix: Non-GAAP Reconciliations
Appendix: Non-GAAP Reconciliations 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Total debt $ 8,426,548 $ 7,863,680 $ 7,962,203 $ 6,959,175 $11,442,651 $ 9,692,200 $12,485,497 $14,502,367 $13,171,555 Less: cash 7,380,232 6,894,762 5,369,947 7,777,241 3,319,066 1,307,092 3,044,662 4,558,160 1,226,365