Fgi Industries Ltd. · NASDAQ:FGI
Fgi Industries — Q4 2022 Earnings Presentation
13 slides from Fgi Industries's earnings presentation, 2023
Slide 1: FGI
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 FGI is a leading “B-to-B” global supplier of Kitchen & Bath products with a reputation for Innovation, Quality & Service developed over 30 years in conjunction with our parent company, Foremost Groups Ltd. | TICKER: FGI | $160MM+ REVENUE BUSINESS IPO in January 2022 Positi
Slide 4: Financial Overview and Fourth Quarter Highlights
FINANCIAL OVERVIEW AND FOURTH QUARTER HIGHLIGHTS 4
Slide 5: Business Highlights – 4Q22
BUSINESS HIGHLIGHTS – 4Q22 • Fourth quarter revenue declined 39% to $31.8 million driven by continued inventory de-stocking across each Revenue of the three business segments. • We continued to grow our custom kitchen cabinetry business, with the dealer network nearly doubling to 135 Organic Growth
Slide 6: 4Q22 Consolidated Financial Results
4Q22 CONSOLIDATED FINANCIAL RESULTS Total Revenue Gross Profit Adjusted Operating Income Adjusted Net Income $MM $MM $MM $MM $181.9 $32.2 $31.5 $6.3 $161.7 $7.8 $5.7 $4.2 $52.2 $7.6 $7.5 $31.8 $1.3 $1.0 $0.7 $0.7 4Q21 4Q22 LTM - LTM - 4Q21 4Q22 LTM - LTM - 4Q21 4Q22 LTM - LTM - 4Q21 4Q22 LTM - LTM -
Slide 7: 4Q22 Business Line Results
4Q22 BUSINESS LINE RESULTS Sanitaryware Revenue Bath Furniture Revenue Other Revenue $MM $MM $MM $55.3 $27.4 $104.5 $104.8 $22.2 $29.5 $34.2 $12.6 $20.2 $5.5 $5.4 $6.1 4Q21 4Q22 2021 2022 4Q21 4Q22 2021 2022 4Q21 4Q22 2021 2022 • Sanitaryware revenue • Bath Furniture revenue was • Other revenue was
Slide 8: Financial Outlook
FINANCIAL OUTLOOK 2023 Financial Outlook Adjusted Adjusted Revenue Operating Income Net Income $145 – 163 million $6.0 – 6.8 million $4.2 – 4.7 million 8
Slide 9: Key Investment Characteristics
KEY INVESTMENT CHARACTERISTICS TRUSTED GLOBAL STRONG ORGANIC ENHANCED “SPIN-OFF” VALUE-ACCRETIVE STRONG SUPPLIER GROWTH PROFITABILITY BOLT-ONS SHAREHOLDER ALIGNMENT We are global, diversified, and We pursue a “BPC” strategy: As a carve-out division from a We may engage in selective High insider owne
Slide 10: Appendix
APPENDIX 10
Slide 11: Financial Summary
FINANCIAL SUMMARY (USD) 2020 2021 2022 4Q21 4Q22 REVENUES 134,827,701 181,943,027 161,718,543 52,190,590 31,790,227 GROSS PROFIT 28,404,640 32,202,408 31,509,005 7,567,437 7,522,855 GROSS MARGINS 21.1% 17.7% 19.5% 14.5% 23.7% SELLING AND DISTRIBUTION 15,487,306 17,636,820 17,533,028 5,000,963 4,224,
Slide 12: Financial Summary (continued)
FINANCIAL SUMMARY (continued) USE OF NON-GAAP FINANCIAL MEASURES In assessing the performance of our business, management utilizes a variety of financial and performance measures to assess our business performance, including to evaluate our ability to convert earnings from our operational performanc
Slide 13: FGI