Pet Valu Holdings Ltd. · TSX:PET
Pet Valu — Q1 2024 Earnings Presentation
14 slides from Pet Valu's earnings presentation, Mar 30, 2024
Slide 1: Q1 2024 Financial & Operating Review
Q1 2024 Financial & Operating Review For 13-week period ended Mar. 30, 2024
Slide 2: Disclaimer
Disclaimer Forward-Looking Information This presentation contains forward-looking information. Forward-looking information is provided as of the date of this presentation and is based on management’s opinions, estimates and assumptions in light of its experience and perception of historical trends,
Slide 3: Today's Presenters
Today’s Presenters Richard Maltsbarger President & Chief Executive Officer Linda Drysdale Chief Financial Officer This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in part, without the prior written consen
Slide 4: Our Mission
Our Mission To be Canada’s preferred pet retailer delivering the products, care, expertise, and memorable moments that devoted pet lovers want…locally in stores and everywhere online. This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted o
Slide 5: Q1 2024 Highlights
+4% 11 Revenue New Store Q1 2024 Growth to $261 million Openings 43 in last 12 months Highlights +16% 7 Adjusted EBITDA Renovations, Expansions Growth or Relocations to $57 million 45 in last 12 months +10% +10% Adjusted Net Income Increase in Growth Quarterly Dividend (7)% Net Income Growth to $0.1
Slide 6: Our Key Focuses
Our Key Focuses Local & Everywhere Best Pet Customer Strong Wholesale & Pet Specialty Retailer Experience in Canada Retail Fundamentals • Opening new stores across Canada • Offering compassionate, expert • Transforming our supply chain in-store customer service • Continual renovations, expansions •
Slide 7: Q1 2024 Key Financial Metrics
Q1 2024 Key Financial Metrics Q1 2024 vs. PY2 Drivers System-Wide Sales $352.9 +3.9% • Positive SSSG, 43 new stores in last 12 months (“LTM”) Same-Store Sales Growth +0.8% --- • Basket1 +3.2% and Traffic1 (2.3%) Revenue $260.8 +4.2% • Similar to system-wide sales growth • (40 bps) excl. supply chain
Slide 8: Q1 2024 Key Financial Metrics
Cash Free Cash Flow Q1 2024 $41.2M $23.1M Key Financial plus $130M revolver capacity vs. ($16.7)M in Q1 2023 Metrics Long-term Debt Net Leverage Ratio1 $289.1M 2.1x (5)% vs. Q1 2023 vs. 2.3x to Q4 2023 Inventory Net Capital Expenditures $129.8M $11.2M (7)% vs. Q1 2023 1Net Leverage Ratio = Net Debt
Slide 9: 2024 Outlook
2024 Growth from 2024 FY 2023 Outlook Revenue …supported by… $1.11-1.14B +5 to +8% Same-Store Sales Growth +2-5% --- New Store Openings 40-50 +5 to +6%1 Adjusted EBITDA $248-254M +7 to +10% Adjusted Net Income $1.57-1.63 (2)% to +1% per Diluted Share Net Capital Expenditures ~$55M +$3M 1 Represents
Slide 10: Appendix
Appendix This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in part, without the prior written consent of Pet Valu Canada Inc. © 2024 Pet Valu Canada Inc. 10
Slide 11: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Quarters Ended Mar. 30, 2024 Apr. 1, 2023 (13 weeks) (13 weeks) Net income $17,518 $18,729 (1) Represents discrete, project-based implementation costs associated with new information technology systems and discrete Software-as-a-Service ("SaaS") arrangements for tra
Slide 12: Reconciliation of Adjusted Net Income
Reconciliation of Adjusted Net Income Quarters Ended Mar. 30, 2024 Apr. 1, 2023 (13 weeks) (13 weeks) Net income $17,518 $18,729 (1) Represents discrete, project-based implementation costs associated with new information technology systems and discrete SaaS arrangements for transformational initiati
Slide 13: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow Quarters Ended Mar. 30, 2024 Apr. 1, 2023 (13 weeks) (13 weeks) Cash provided by operating activities $44,884 5,207 Cash (used in) provided by investing activities (197) (765) Repayment of principal on lease liabilities (15,623) (17,879) Interest paid on lease liabil
Slide 14: Thank You
Thank You Contact Us: [email protected] (289) 806-4559 This presentation and any information contained herein may not be used, copied, reproduced, published, transmitted or redistributed, in whole or in part, without the prior written consent of Pet Valu Canada Inc. © 2024 Pet Valu Canada Inc. 1