This document provides an overview of Libbey Inc. for investors. Key points:
1) Libbey is the #2 glass tableware company globally and #1 in the Americas, with the strongest brand recognition in the US.
2) Libbey's largest business is its #1 US and Canada foodservice business, which drives significant recurring revenue.
3) The company has an established global presence with growth potential in Asia, Europe, and Latin America. Cost optimization and manufacturing innovation provide competitive advantages.
4) Libbey has a strong cash flow and balance sheet. The company takes a balanced approach to capital allocation.
Libbey Inc - Piper Jaffray Conference June 2016investorslibbey
1. The document provides an overview of Libbey Inc., a global leader in glass tableware. It discusses Libbey's market position, operations, growth strategy, and financial highlights.
2. Libbey is the #2 glass tableware company globally and #1 in the Americas. It has strong positions in the US foodservice, retail, and B2B sectors.
3. The document outlines Libbey's strategy to focus on growth, innovation, and business simplification to drive margins and remove complexity. It also notes Libbey's strong cash flow, liquidity, and balanced capital allocation approach.
This document provides an overview of Libbey Inc. for a November 2016 management meeting. It includes:
- Introductions of the VP, CEO, and Treasurer/VP of Investor Relations.
- A disclaimer that the presentation includes forward-looking statements subject to risks and uncertainties.
- An agenda covering the company overview, strategic focus, financial performance, investment highlights, and appendices.
- Details on the company's leadership in glass tableware, product categories, sales channels, global presence, and financial metrics.
- An outline of the strategic focus on growth through innovation, customer focus, and business simplification.
- Comments on recent financial performance and full-year
1. Libbey Inc. is a global leader in glass tableware, with the #1 position in the US and Western Hemisphere foodservice and retail channels. It has strong brand recognition and market share.
2. Libbey's "Own the Moment" strategy focuses on growth through innovation, improving customer focus, and business simplification.
3. Libbey has key advantages including a profitable and recurring US foodservice business, manufacturing and cost efficiencies, and a strong balance sheet and cash flow.
Libbey Inc. is the second largest glass tableware manufacturer in the world and number one in the Americas. It has three key business channels: foodservice, retail, and business-to-business. Libbey's financial performance has improved in recent years through cost reductions and debt paydown, lowering its leverage ratio. Under its new "Own the Moment" strategy, Libbey aims to grow its Americas segment, expand margins through efficiencies, and return cash to shareholders through disciplined capital management.
1) Libbey is the #2 global and #1 North American manufacturer and marketer of glass tableware, including tumblers, stemware, and other products.
2) Their #1 position in the U.S. foodservice industry provides significant recurring revenue through replacement sales.
3) Their #1 retail position in North America enhances brand recognition and drives factory utilization.
This document provides an overview of Libbey Inc. for a March 2016 management meeting. It includes the following key points:
1) Libbey is a global leader in glass tableware, with #2 global market share and #1 position in the Americas. It has a leading foodservice business in the US and retail footprint in North America.
2) Libbey's strategy called "Own the Moment" focuses on new product development, improving customer focus, and simplifying business processes to drive organic growth and margin expansion.
3) Libbey has a strong financial position with predictable cash flows, moderate leverage, and a balanced approach to capital allocation including returning cash to shareholders.
This document provides an overview of Libbey Inc. for a March 2016 management meeting. It includes the following key points:
1) Libbey is a global leader in glass tableware, with #2 global market share and #1 position in the Americas. It has a leading foodservice business in the US and retail footprint in North America.
2) Libbey's strategy called "Own the Moment" focuses on new product development, improving customer focus, and simplifying business processes to drive organic growth and margin expansion.
3) Libbey has a strong financial position with predictable cash flows, moderate leverage, and a balanced approach to capital allocation including returning cash to shareholders.
Libbey Inc. presented an investor presentation covering Q4 2017. The presentation provided an overview of Libbey's leadership in the global glass tableware market. It highlighted the company's focus on growth through new product innovation, operational excellence, and organizational excellence. Key information included Libbey's market positions, sales channels of foodservice, retail, and business-to-business, and strategic focus areas going forward.
Libbey Inc - Piper Jaffray Conference June 2016investorslibbey
1. The document provides an overview of Libbey Inc., a global leader in glass tableware. It discusses Libbey's market position, operations, growth strategy, and financial highlights.
2. Libbey is the #2 glass tableware company globally and #1 in the Americas. It has strong positions in the US foodservice, retail, and B2B sectors.
3. The document outlines Libbey's strategy to focus on growth, innovation, and business simplification to drive margins and remove complexity. It also notes Libbey's strong cash flow, liquidity, and balanced capital allocation approach.
This document provides an overview of Libbey Inc. for a November 2016 management meeting. It includes:
- Introductions of the VP, CEO, and Treasurer/VP of Investor Relations.
- A disclaimer that the presentation includes forward-looking statements subject to risks and uncertainties.
- An agenda covering the company overview, strategic focus, financial performance, investment highlights, and appendices.
- Details on the company's leadership in glass tableware, product categories, sales channels, global presence, and financial metrics.
- An outline of the strategic focus on growth through innovation, customer focus, and business simplification.
- Comments on recent financial performance and full-year
1. Libbey Inc. is a global leader in glass tableware, with the #1 position in the US and Western Hemisphere foodservice and retail channels. It has strong brand recognition and market share.
2. Libbey's "Own the Moment" strategy focuses on growth through innovation, improving customer focus, and business simplification.
3. Libbey has key advantages including a profitable and recurring US foodservice business, manufacturing and cost efficiencies, and a strong balance sheet and cash flow.
Libbey Inc. is the second largest glass tableware manufacturer in the world and number one in the Americas. It has three key business channels: foodservice, retail, and business-to-business. Libbey's financial performance has improved in recent years through cost reductions and debt paydown, lowering its leverage ratio. Under its new "Own the Moment" strategy, Libbey aims to grow its Americas segment, expand margins through efficiencies, and return cash to shareholders through disciplined capital management.
1) Libbey is the #2 global and #1 North American manufacturer and marketer of glass tableware, including tumblers, stemware, and other products.
2) Their #1 position in the U.S. foodservice industry provides significant recurring revenue through replacement sales.
3) Their #1 retail position in North America enhances brand recognition and drives factory utilization.
This document provides an overview of Libbey Inc. for a March 2016 management meeting. It includes the following key points:
1) Libbey is a global leader in glass tableware, with #2 global market share and #1 position in the Americas. It has a leading foodservice business in the US and retail footprint in North America.
2) Libbey's strategy called "Own the Moment" focuses on new product development, improving customer focus, and simplifying business processes to drive organic growth and margin expansion.
3) Libbey has a strong financial position with predictable cash flows, moderate leverage, and a balanced approach to capital allocation including returning cash to shareholders.
This document provides an overview of Libbey Inc. for a March 2016 management meeting. It includes the following key points:
1) Libbey is a global leader in glass tableware, with #2 global market share and #1 position in the Americas. It has a leading foodservice business in the US and retail footprint in North America.
2) Libbey's strategy called "Own the Moment" focuses on new product development, improving customer focus, and simplifying business processes to drive organic growth and margin expansion.
3) Libbey has a strong financial position with predictable cash flows, moderate leverage, and a balanced approach to capital allocation including returning cash to shareholders.
Libbey Inc. presented an investor presentation covering Q4 2017. The presentation provided an overview of Libbey's leadership in the global glass tableware market. It highlighted the company's focus on growth through new product innovation, operational excellence, and organizational excellence. Key information included Libbey's market positions, sales channels of foodservice, retail, and business-to-business, and strategic focus areas going forward.
The document summarizes a presentation given by Libbey Inc. to investors. It highlights that Libbey is a global leader in glass tableware, especially in foodservice, with opportunities to grow organically and through acquisitions. Libbey has a strategic focus on innovation, customer focus, and business simplification to improve margins and returns. Financially, Libbey aims to balance investing in the business, maintaining financial strength, and returning capital to shareholders.
Libbey Inc. held a meeting in March 2017 to discuss the company's strategic focus and financial performance. The company operates as a global leader in glass tableware and sells products through foodservice, retail, and business-to-business channels. Libbey's strategic focus areas include growth through new product innovation and digital strategy, and operational excellence through cost reduction initiatives and supply chain optimization. For 2017, Libbey expects sales to be flat to slightly down due to currency impacts, with adjusted EBITDA margin in the range of 13-14% of net sales. Capital allocation priorities include investment in the business and debt repayment.
Jim Burmeister is the Vice President and CFO of Libbey Inc. Bill Foley is the Chairman and CEO. Libbey is a global manufacturer of glass tableware, with the number one market position in the US and Canada for foodservice and retail channels. It sells over 1 billion pieces annually. Libbey is focused on growth through new product innovation, improving its supply chain and operational excellence, and allocating capital to investing in the business and returning cash to shareholders. It has a strong financial position to support these strategic priorities.
Libbey Inc. is a global manufacturer of glass tableware. The document discusses Libbey's leadership positions in glass tableware manufacturing, its focus on growth through new product innovation and e-commerce, and operational excellence through supply chain optimization. It provides an overview of Libbey's financial performance, product categories, sales channels of foodservice, retail and business-to-business, and manufacturing and distribution network. New product launches at industry trade shows in 2017 and plans for an e-commerce launch are also summarized.
This document provides an overview of Libbey Inc. from its annual conference presentation. It discusses Libbey's leadership positions in glass tableware manufacturing, its global footprint and manufacturing capabilities, strategies to drive organic growth and margin expansion, and commitment to disciplined capital allocation including dividends and share repurchases. Libbey aims to deliver top-quartile total shareholder returns through organic expansion, strategic investments, and significant capital returns to investors.
Libbey Inc. reported its Q2 2017 earnings. Net sales declined 10.4% to $197.5 million compared to Q2 2016 due to challenging market conditions including a shift to online retail and lower foodservice traffic. Adjusted EBITDA was $20.2 million, down from $40.6 million in Q2 2016, driven by lower manufacturing activity, sales and margins. For the full year, Libbey expects adjusted EBITDA near the low end of prior guidance and net sales to decline in the low-to-mid single digits.
Jim Burmeister is the Vice President and CFO of Libbey Inc., a global manufacturer of glass tableware. Libbey has leadership positions in markets across the Americas, and sells over 1.2 billion pieces of tableware annually to foodservice, retail, and business-to-business customers. The company is focused on growth through new product innovation, operational excellence, and organizational effectiveness. Libbey has a strong presence in the Americas and a global manufacturing and distribution footprint.
Business case that proposes a strategy for a U.S. based Wine manufacturer to enter in the Craft Beer Industry. The presentation also includes the highlight of US Alcoholic Beverage Industry and Customer appeal in the Beer Market.
The craft beer industry has experienced rapid growth over the past decade, with the number of breweries in the US more than tripling since 2005. Craft beer is defined as small, independent, and traditional. While competition is moderate due to the large number of brewers, barriers to entry are relatively low. Threats include substitute alcoholic and non-alcoholic beverages as well as the bargaining power of suppliers like hops farmers. Recent trends show consolidation in the industry through mergers and acquisitions as continued growth at the current pace is unsustainable.
Danone Acquisition of White Wave Investor Presentation 7/2016 Neil Kimberley
Danone announced the acquisition of WhiteWave, a $4 billion sales leader in organic foods, plant-based milks and related products. The $12.5 billion acquisition will create a unique global leader aligned with consumer trends for healthier and more sustainable eating options. It will significantly enhance Danone's 2020 growth plan and immediately accelerate its journey towards strong, sustainable and profitable growth. The combination of Danone and WhiteWave fosters healthier choices in indulgence categories and embraces the plant-based promise of better health and sustainability.
Zenith Consulting 2013 bottled water ReviewNeil Kimberley
The document summarizes information about the 10th Global Bottled Water Congress happening in November 2013 in Nashville. It provides details on the conference agenda, previous congresses, speakers, and market trends in the global bottled water industry. Key points include that bottled water volume has surpassed carbonates to become the largest volume category. The developing regions of Asia Pacific, Africa, and the Middle East will continue to drive industry growth due to increasing urbanization and economic stability. Innovation in packaging will also be important to sustain growth in more developed markets.
Sprouts Farmers Market provides a summary of their investor deck which outlines their business strategy and financial performance. Key points include:
- Sprouts offers fresh, natural and organic foods at affordable prices, appealing to a broad customer base. They have significant room for growth through new store openings.
- The company has a differentiated go-to-market strategy of focusing on produce and creating a comfortable shopping environment. This drives strong and consistent sales growth across existing stores.
- Financial targets include annual unit growth of 14%, comparable store sales growth of 6%+, and net income growth of 20%+ through new store openings and margin expansion in existing stores.
Implementation of strategic management tools and strategiesHebi Pathan
PepsiCo is considering strategic options for its Mountain Dew brand in Pakistan. A SWOT analysis identified strengths like brand awareness and taste, weaknesses like high investment needs, and opportunities like innovating new flavors. Strategies recommended based on SWOT, BCG matrix, GE model, and QSPM analysis include market development, product development, and horizontal diversification to launch new flavors internationally. Market penetration was also suggested to leverage the strong brand in Pakistan.
Anheuser-Busch InBev is a leading global brewer headquartered in Belgium with over 116,000 employees worldwide. Its mission is to become the best beer company in a better world by delivering volume growth above industry levels while maintaining costs below inflation. In India, AB InBev entered the market in 2007 and now has three breweries with a total capacity over 700,000 hectoliters. While the Indian beer market is fragmented, consumption is growing at 1.5 liters per capita and expected to continue rising. AB InBev's strategies focus on reducing costs, connecting with consumers through branding, and achieving sustainable profitable growth.
This document provides an overview of General Mills' 2014 annual report. It discusses financial highlights for 2014 including a 1% increase in net sales to $17.9 billion and a 4% increase in adjusted diluted EPS to $2.82. The Chairman's letter discusses priorities for 2015 including accelerating sales growth by focusing on key consumer groups and product categories that are growing. The report provides information on General Mills' business segments, board of directors, and sales trends for various product categories including Big G Cereal.
BeverageTradeNetwork.com Interviews Jon Reynolds who has 32 plus years of beer sales experience and talks about how craft breweries need to market and covers craft beer distribution strategy and craft beer marketing plan. BTN covers the challenges that craft breweries face in distribution today.
No longer niche, the craft beer market is growing at a remarkable rate. Brands of all sizes can not only coexist, but prosper, by strategically tapping into an influential audience ready to purchase, drink,
and spread the word.
This document summarizes trends in the craft beer market based on consumer insights. It finds that millennials currently make up almost half of regular craft beer drinkers and will continue driving growth. While most craft beer drinkers are currently male, brewers are looking to attract more female drinkers. The term "craft" can mean different things to consumers and brands need to ensure their interpretation aligns with their target audience. The document also notes trends like the rise of sessionable and lower alcohol craft beers, as well as increasing cross-border collaborations between craft brewers.
Brian Kelley, CEO of Keurig Green Mountain, discussed the company's outlook and priorities at the CAGNY Conference on February 19, 2015. The company expects mid-single digit non-GAAP EPS growth in fiscal year 2015 despite negative impacts from foreign exchange rates and equity transactions. Keurig's priorities are to successfully launch the Keurig Cold system, continue investing in innovation, improve growth of the Keurig hot system, and begin global expansion of the Keurig system.
Stella Artois Class Presentation - Harvard Case ReviewFamy
- Interbrew traces its origins to a brewery founded in Brussels in 1366 and expanded significantly through acquisitions in the 20th century.
- By the late 1990s, Interbrew had operations in over 80 countries across Europe, Asia, Africa, and the Americas.
- Interbrew pursued a strategy of decentralization and local branding while also aiming to strengthen its global brand portfolio and controlled brands' positions internationally through further acquisitions and expansion in growth markets.
Libbey Inc. held a meeting in March 2017 to discuss the company's strategic focus and financial performance. The company operates as a global leader in glass tableware and sells products through foodservice, retail, and business-to-business channels. Libbey's strategic focus areas are growth, operational excellence, and organizational excellence. For 2017, Libbey expects sales to be flat to slightly down due to currency impacts, adjusted EBITDA margin in the range of 13-14%, and capital expenditures between $50-55 million.
Libbey Inc. held an investor presentation in January 2018 to provide an overview of the company and its strategy. The presentation highlighted Libbey's leadership in the glass tableware industry, focus on growth through new product innovation and e-commerce, and emphasis on operational excellence. Key points included new product launches targeted at foodservice and retail customers, upgrades to e-commerce capabilities, global manufacturing optimization plans, and a balanced approach to capital allocation including debt repayment.
The document summarizes a presentation given by Libbey Inc. to investors. It highlights that Libbey is a global leader in glass tableware, especially in foodservice, with opportunities to grow organically and through acquisitions. Libbey has a strategic focus on innovation, customer focus, and business simplification to improve margins and returns. Financially, Libbey aims to balance investing in the business, maintaining financial strength, and returning capital to shareholders.
Libbey Inc. held a meeting in March 2017 to discuss the company's strategic focus and financial performance. The company operates as a global leader in glass tableware and sells products through foodservice, retail, and business-to-business channels. Libbey's strategic focus areas include growth through new product innovation and digital strategy, and operational excellence through cost reduction initiatives and supply chain optimization. For 2017, Libbey expects sales to be flat to slightly down due to currency impacts, with adjusted EBITDA margin in the range of 13-14% of net sales. Capital allocation priorities include investment in the business and debt repayment.
Jim Burmeister is the Vice President and CFO of Libbey Inc. Bill Foley is the Chairman and CEO. Libbey is a global manufacturer of glass tableware, with the number one market position in the US and Canada for foodservice and retail channels. It sells over 1 billion pieces annually. Libbey is focused on growth through new product innovation, improving its supply chain and operational excellence, and allocating capital to investing in the business and returning cash to shareholders. It has a strong financial position to support these strategic priorities.
Libbey Inc. is a global manufacturer of glass tableware. The document discusses Libbey's leadership positions in glass tableware manufacturing, its focus on growth through new product innovation and e-commerce, and operational excellence through supply chain optimization. It provides an overview of Libbey's financial performance, product categories, sales channels of foodservice, retail and business-to-business, and manufacturing and distribution network. New product launches at industry trade shows in 2017 and plans for an e-commerce launch are also summarized.
This document provides an overview of Libbey Inc. from its annual conference presentation. It discusses Libbey's leadership positions in glass tableware manufacturing, its global footprint and manufacturing capabilities, strategies to drive organic growth and margin expansion, and commitment to disciplined capital allocation including dividends and share repurchases. Libbey aims to deliver top-quartile total shareholder returns through organic expansion, strategic investments, and significant capital returns to investors.
Libbey Inc. reported its Q2 2017 earnings. Net sales declined 10.4% to $197.5 million compared to Q2 2016 due to challenging market conditions including a shift to online retail and lower foodservice traffic. Adjusted EBITDA was $20.2 million, down from $40.6 million in Q2 2016, driven by lower manufacturing activity, sales and margins. For the full year, Libbey expects adjusted EBITDA near the low end of prior guidance and net sales to decline in the low-to-mid single digits.
Jim Burmeister is the Vice President and CFO of Libbey Inc., a global manufacturer of glass tableware. Libbey has leadership positions in markets across the Americas, and sells over 1.2 billion pieces of tableware annually to foodservice, retail, and business-to-business customers. The company is focused on growth through new product innovation, operational excellence, and organizational effectiveness. Libbey has a strong presence in the Americas and a global manufacturing and distribution footprint.
Business case that proposes a strategy for a U.S. based Wine manufacturer to enter in the Craft Beer Industry. The presentation also includes the highlight of US Alcoholic Beverage Industry and Customer appeal in the Beer Market.
The craft beer industry has experienced rapid growth over the past decade, with the number of breweries in the US more than tripling since 2005. Craft beer is defined as small, independent, and traditional. While competition is moderate due to the large number of brewers, barriers to entry are relatively low. Threats include substitute alcoholic and non-alcoholic beverages as well as the bargaining power of suppliers like hops farmers. Recent trends show consolidation in the industry through mergers and acquisitions as continued growth at the current pace is unsustainable.
Danone Acquisition of White Wave Investor Presentation 7/2016 Neil Kimberley
Danone announced the acquisition of WhiteWave, a $4 billion sales leader in organic foods, plant-based milks and related products. The $12.5 billion acquisition will create a unique global leader aligned with consumer trends for healthier and more sustainable eating options. It will significantly enhance Danone's 2020 growth plan and immediately accelerate its journey towards strong, sustainable and profitable growth. The combination of Danone and WhiteWave fosters healthier choices in indulgence categories and embraces the plant-based promise of better health and sustainability.
Zenith Consulting 2013 bottled water ReviewNeil Kimberley
The document summarizes information about the 10th Global Bottled Water Congress happening in November 2013 in Nashville. It provides details on the conference agenda, previous congresses, speakers, and market trends in the global bottled water industry. Key points include that bottled water volume has surpassed carbonates to become the largest volume category. The developing regions of Asia Pacific, Africa, and the Middle East will continue to drive industry growth due to increasing urbanization and economic stability. Innovation in packaging will also be important to sustain growth in more developed markets.
Sprouts Farmers Market provides a summary of their investor deck which outlines their business strategy and financial performance. Key points include:
- Sprouts offers fresh, natural and organic foods at affordable prices, appealing to a broad customer base. They have significant room for growth through new store openings.
- The company has a differentiated go-to-market strategy of focusing on produce and creating a comfortable shopping environment. This drives strong and consistent sales growth across existing stores.
- Financial targets include annual unit growth of 14%, comparable store sales growth of 6%+, and net income growth of 20%+ through new store openings and margin expansion in existing stores.
Implementation of strategic management tools and strategiesHebi Pathan
PepsiCo is considering strategic options for its Mountain Dew brand in Pakistan. A SWOT analysis identified strengths like brand awareness and taste, weaknesses like high investment needs, and opportunities like innovating new flavors. Strategies recommended based on SWOT, BCG matrix, GE model, and QSPM analysis include market development, product development, and horizontal diversification to launch new flavors internationally. Market penetration was also suggested to leverage the strong brand in Pakistan.
Anheuser-Busch InBev is a leading global brewer headquartered in Belgium with over 116,000 employees worldwide. Its mission is to become the best beer company in a better world by delivering volume growth above industry levels while maintaining costs below inflation. In India, AB InBev entered the market in 2007 and now has three breweries with a total capacity over 700,000 hectoliters. While the Indian beer market is fragmented, consumption is growing at 1.5 liters per capita and expected to continue rising. AB InBev's strategies focus on reducing costs, connecting with consumers through branding, and achieving sustainable profitable growth.
This document provides an overview of General Mills' 2014 annual report. It discusses financial highlights for 2014 including a 1% increase in net sales to $17.9 billion and a 4% increase in adjusted diluted EPS to $2.82. The Chairman's letter discusses priorities for 2015 including accelerating sales growth by focusing on key consumer groups and product categories that are growing. The report provides information on General Mills' business segments, board of directors, and sales trends for various product categories including Big G Cereal.
BeverageTradeNetwork.com Interviews Jon Reynolds who has 32 plus years of beer sales experience and talks about how craft breweries need to market and covers craft beer distribution strategy and craft beer marketing plan. BTN covers the challenges that craft breweries face in distribution today.
No longer niche, the craft beer market is growing at a remarkable rate. Brands of all sizes can not only coexist, but prosper, by strategically tapping into an influential audience ready to purchase, drink,
and spread the word.
This document summarizes trends in the craft beer market based on consumer insights. It finds that millennials currently make up almost half of regular craft beer drinkers and will continue driving growth. While most craft beer drinkers are currently male, brewers are looking to attract more female drinkers. The term "craft" can mean different things to consumers and brands need to ensure their interpretation aligns with their target audience. The document also notes trends like the rise of sessionable and lower alcohol craft beers, as well as increasing cross-border collaborations between craft brewers.
Brian Kelley, CEO of Keurig Green Mountain, discussed the company's outlook and priorities at the CAGNY Conference on February 19, 2015. The company expects mid-single digit non-GAAP EPS growth in fiscal year 2015 despite negative impacts from foreign exchange rates and equity transactions. Keurig's priorities are to successfully launch the Keurig Cold system, continue investing in innovation, improve growth of the Keurig hot system, and begin global expansion of the Keurig system.
Stella Artois Class Presentation - Harvard Case ReviewFamy
- Interbrew traces its origins to a brewery founded in Brussels in 1366 and expanded significantly through acquisitions in the 20th century.
- By the late 1990s, Interbrew had operations in over 80 countries across Europe, Asia, Africa, and the Americas.
- Interbrew pursued a strategy of decentralization and local branding while also aiming to strengthen its global brand portfolio and controlled brands' positions internationally through further acquisitions and expansion in growth markets.
Libbey Inc. held a meeting in March 2017 to discuss the company's strategic focus and financial performance. The company operates as a global leader in glass tableware and sells products through foodservice, retail, and business-to-business channels. Libbey's strategic focus areas are growth, operational excellence, and organizational excellence. For 2017, Libbey expects sales to be flat to slightly down due to currency impacts, adjusted EBITDA margin in the range of 13-14%, and capital expenditures between $50-55 million.
Libbey Inc. held an investor presentation in January 2018 to provide an overview of the company and its strategy. The presentation highlighted Libbey's leadership in the glass tableware industry, focus on growth through new product innovation and e-commerce, and emphasis on operational excellence. Key points included new product launches targeted at foodservice and retail customers, upgrades to e-commerce capabilities, global manufacturing optimization plans, and a balanced approach to capital allocation including debt repayment.
The document provides an overview of Libbey Inc.'s investor day presentation. It cautions that statements made involve forward-looking assumptions and risks. Non-GAAP financial measures are used and reconciliations can be found in the appendix or previous filings. The agenda outlines presentations on strategy, new products, e-commerce, operations excellence, regional overviews, and financial targets through 2021. It aims to demonstrate how the new management team is shaping Libbey's future and executing its Creating Momentum strategy to address challenges facing the industry.
The document provides an analysis of the fast food restaurant industry. It begins with an overview of the history and growth of the industry. It then discusses key features such as segments, production and distribution systems, and demand determinants. Porter's Five Forces model is applied to analyze industry competition. Financial data on industry revenue from 2010-2015 is presented globally and for the United States. The document also includes analyses of specific companies Chipotle, Papa Johns, and Starbucks.
This presentation provides an overview of Libbey Inc. for investors. It discusses Libbey's management team, strategy to create momentum through initiatives focused on profitable growth, operational excellence, and improving the financial and balance sheet position. The strategy aims to return Libbey to its long-term financial goals of revenue growth, adjusted EBITDA margins of 14-15%, net debt to adjusted EBITDA of 2.3-2.7x, and ROIC of 10-12% by 2021 through continuous improvement.
This presentation by Libbey Inc. provides an overview of the company's management, strategy to drive growth, and financial goals. It summarizes Libbey's leadership, operational priorities around manufacturing and inventory optimization, and strategic initiatives including new product development focused on healthcare and e-commerce. The presentation outlines Libbey's goal of returning to long-term financial targets of revenue growth of 2-5% annually and adjusted EBITDA margins of 14-16% by 2021 through these strategic initiatives and continuous improvement.
This document discusses a potential strategy for Taco Bell's expansion into the fast casual dining market. It provides an overview of the fast food and fast casual industries, noting stagnating growth in fast food but rapid expansion of fast casual concepts. The recommendation is for Taco Bell to enter fast casual through acquiring an existing brand in order to mitigate risks to its image and execution challenges. Breakfast is also identified as a promising near-term growth opportunity within its current business.
Candler Enterprises is launching an expansion of its Krispy Natural cracker line nationally after a successful test market. The summary is:
1) Krispy Natural crackers achieved double projected sales in its Columbus, Ohio test market and was 5% below projections in the Southeast.
2) National projections estimate $500 million in first year sales and a steady state pre-tax profit contribution of 13% of sales.
3) The expansion will leverage Candler's marketing, sales and distribution systems and compete on quality and brand reputation against competitors like Frito-Lay entering the cracker market.
Cover 3 is a fine dining establishment with locations in Austin and San Antonio, Texas. It combines outstanding food and drink with a love of sports. This document outlines Cover 3's situation analysis, target consumer research, and marketing and media objectives and plan to increase sales and brand awareness over the next 9 months. The objectives include increasing return customers, alcohol sales, and average spending per person. The media plan allocates a $72,000 budget across social media, print, and radio advertising. Key tactics include sports-themed social media posts, print ads in local newspapers, and radio ads targeting commuters.
Todd W. Davis has over 13 years of experience in sales and business development. He has a proven track record of exceeding sales goals and penetrating new markets. Currently, he works as a Regional Sales Consultant for ITW Food Equipment Group, where he has expanded service agreement contracts in healthcare, education, and other sectors. Previously, he held several sales and territory management roles where he consistently increased sales revenues and attracted new customers.
Launching Krispy Natural: Cracking the Product Management CodeSyed Zaid Ali
This document provides information about Candler Enterprises, a multinational company looking to launch Krispy Natural crackers nationally. Candler has various food and beverage divisions including Pemberton snacks. Pemberton seeks to leverage its marketing, sales and direct store delivery systems to expand into the salty snacks category with Krispy Natural. Product tests of Krispy Natural crackers showed positive purchase intent and taste preferences. However, there are uncertainties around effectively marketing Krispy Natural nationally and competing against established brands as the cracker market becomes more crowded.
PepsiCo is a global food and beverage company founded in 1919 with brands such as Quaker Oats, Tropicana, Gatorade, Lay's, Pepsi, and others. It has around 294,000 employees worldwide and a market capitalization of $100.68 billion. The document discusses PepsiCo's revenue breakdown, global market exposure, strategies for growing its savory snacks, beverages, and nutrition divisions, and recent challenges regarding commodity costs, currency exposure, and potentially splitting its snacks and beverages businesses.
Loeb's Crunch is a consumer goods company introducing a unique condiment product to capitalize on growing demand in the seasoning/sauce industry. The company's onion crunch topping is all-natural, low calorie, and expanding to new retail and foodservice locations nationally. Management has industry experience and the company utilizes celebrity endorsements and national press to promote awareness and sales growth in top accounts.
This document provides an overview and analysis of Overhill Farms for potential acquisition. It summarizes the company's financial performance, industry positioning, management team, and presents a potential transaction structure. Overhill Farms is a manufacturer of prepared frozen foods with steady cash flows, minimal debt, and opportunities for growth. An acquisition could utilize operating leverage to enhance equity returns while retaining management participation through equity rollover.
Joseph Arvin is an accomplished Regional Sales Manager with over 16 years of experience in the food industry. He has exceptional negotiating skills and has grown sales at every company he has worked for. Arvin is an experienced public speaker and trainer who has developed leadership teams and trained equipment representatives. His most recent roles include driving sales of appliances at Viking Range and Blodgett Oven Company, where he increased sales 18-30% annually through trade shows, demonstrations, and securing large accounts.
Loeb's Crunch is a consumer goods company introducing a unique line of crunchy, healthy toppings to the food industry. The $21 billion seasoning/condiment industry is growing, and Loeb's Crunch aims to capitalize on this as a first mover with its variety of natural, low-calorie toppings. The company has established a national retail footprint in over 8,000 stores and 2,000 foodservice locations. Its strategy is to improve margins, expand product lines, increase national distribution, and launch the brand internationally. Management has industry experience and the company has gained celebrity endorsements and national press coverage.
Loeb's Crunch is a consumer goods company introducing a unique line of crunchy, healthy toppings to the food industry. The $21 billion seasoning/condiment industry is growing, and Loeb's Crunch aims to capitalize on this as a first mover with its variety of natural, low-calorie toppings. The company has established a national retail footprint in over 8,000 stores and 2,000 foodservice locations. Its strategy is to improve margins, expand product lines, increase national distribution, and launch the brand internationally. Management has industry experience and the company has received celebrity endorsements and national press coverage.
This document summarizes information about the A&W restaurant brand. It notes that A&W is the #1 brand of root beer but relies heavily on the Baby Boomer generation. It has over 1200 restaurants, mostly in Canada and the US. The document then discusses A&W's competitors and market share. It identifies problems as lack of brand awareness and resonance in the US and losing touch with its history. Finally, it proposes solutions such as refocusing on the US market, incorporating history into stores, implementing brand management, developing A&W-specific menu items, and improving organizational cohesion.
Coca-Cola originated as a soda fountain beverage in 1886 and grew impressively in its early years. However, it was not until a strong bottling system developed that Coca-Cola became the world famous brand it is today. Currently, Coca-Cola owns 4 of the world's top 5 nonalcoholic sparkling beverage brands, has over 90,500 associates worldwide, and serves over 1.5 billion beverages each day in over 200 countries. The company aims to refresh people in body, mind and spirit through its brands and actions.
Similar to July 2016 Recent Management Presentation (20)
2. Management
1
Sherry Buck
Vice President, Chief Financial Officer
Bill Foley
Chairman and Chief Executive Officer
Kim Hunter
Treasurer and Vice President, Investor Relations
3. Material presented at this meeting includes forward-looking
statements about Libbey Inc. These statements are subject to
risks and uncertainties, including market conditions, competitive
pressures, the value of the U.S. dollar and significant cost
increases.
Please refer to the Company’s Form 10-K for
fiscal year-end December 31, 2015, filed on
February 29, 2016, for further information.
Cautionary statement
2
4. Agenda
3
• Company Overview 4 - 9
• Own the Moment Strategy 10 - 11
• Investment Highlights 12 - 26
• Recent Financial Performance 27 - 30
• Appendices
Timeline 32
Definition and Reconciliation of Non-GAAP Measures 33 - 34
5. 1. Global glass tableware leader: #2 in the world, #1 in the Western Hemisphere
Favorite U.S. glassware brand and strongest unaided brand recognition
2. #1 U.S. Foodservice business drives significant recurring revenue and profitability
#1 North American retail position drives consumer recognition and capacity
utilization
3. Established global presence with significant growth potential
4. Cost structure optimization combined with manufacturing innovation creates
significant advantage
5. Strong cash flow, liquidity and credit profile
6. Balanced approach to capital allocation
Investment highlights
4
6. Libbey at a glance
A global tableware leader selling manufactured and
sourced glass, ceramic and metal tableware.
#2 global glassware position, #1 in the Americas!
5
Customers are the world’s largest foodservice
distributors and most recognized retail names
$822.3 million of net sales in 2015 sold to
Foodservice, Retail and B2B channels globally
Libbey sells more than 1,000,000,000 glasses
annually
Products central to life and gift giving that help
celebrate important moments at home, in
restaurants and on vacation
NYSE MKT: LBY
7. Libbey competes in four product categories
6
Category Products Manufacturing
Glass
Tableware
• Tumblers, stemware, mugs, bowls, floral, salt
shakers, shot glasses, canisters,
candleholders
In-house
Other
Glass
Products
• Bakeware, handmade tableware, blender
jars, mixing bowls, floral, candle, and
washing machine windows
In-house
Ceramic
Dinnerware
• Plates, bowls, platters, cups, saucers, and
other tableware accessories
Sourced
Metalware
• Knives, forks, spoons, serving utensils,
serving trays, pitchers, and other metal
tableware accessories
Sourced
8. Libbey goes to market in three key channels
• Leading network of 500+ of the world’s finest U.S. distributors who sell to
restaurants, bars, hotels and travel and tourism venues
• #1 glass tableware supplier and #2 dinnerware and flatware supplier in the
U.S. and Canada
• 90% of sales are replacements, driving predictable revenue stream;
beverages most profitable item for a restaurant
• Customers include marketers branding Libbey glassware with company
logos and reselling to breweries, distilleries, soft drink companies, craft
industries and food packing companies
• Companies using glass products for candle and floral applications, blender
jars, mixing bowls and washing machine glass
Foodservice
Retail
Business-to-
Business (B2B)
• Customers include leading mass merchants, department stores, upscale
retailers, grocers and internet retailers
• North America’s #1 retail supplier of casual glass beverageware and an
important driver of profitable factory utilization
7
No single customer accounts for 10% or more of sales
9. Established industry-leading global footprint
8
West Chicago, IL
Toledo, OH
Shreveport, LA
Monterrey,
Mexico
Laredo, TX
Libbey Manufacturing and Warehousing / Distribution
Marinha Grande,
Portugal
Leerdam,
Netherlands Langfang,
China
Libbey Warehousing / Distribution
MillionTotal Sq. Ft.
Libbey Warehousing /
Distribution Centers7 8Libbey Manufacturing
Facilities6
Libbey Headquarters
10. Libbey is well positioned for a next phase of success
9
Recovery and
reinforcement
• Cost reduction and de-
leveraging
Substantial cost
containment measures
Leverage reduced to ~3x
2014 adjusted EBITDA
• Continued investment to
strengthen and build the
business
Added low cost Mexican
production for North
America markets
Entered China for long-
term opportunity
Acquisition leverage +
Great Recession = Stress
• Acquisition-focused growth
Averaging +10%
annually from 2001 to
2008
• Great Recession financial
stress
Leverage reached
unsustainably high >6x
adjusted EBITDA
Winning from position of
strength
• Libbey clearly positioned as
market leader with strong
profitability and cash flows
• Focus on creating sustainable
value for our shareholders
• Three strategic levers:
Grow and bolster U.S. and
Canada and Latin America
segments
Expand margins through
product innovation, price /
mix, operating efficiencies,
distribution expansion and
business simplification
Maintain disciplined capital
management and return free
cash flow to shareholders
2001 - 2006
2006 - 2014
2015 - 2020
11. 10
Grow & Bolster U.S. and
Canada, Latin America
• Grow around core in
Foodservice
• Win in key accounts in Retail &
B2B
• Strengthen/broaden new
product offerings
• Expand to adjacencies
• Redefine pricing/promotions
Maximize Returns in Asia
Pacific & EMEA
• Targeted investments to drive
value and differentiation
• Drive cost efficiency
• Expand presence where under-
served
• Build presence in growth
channels
Establish Foundation of
Excellence
• Supply Chain
• Talent & culture
• Commercial capabilities
• Information Technology
• Financial structure/capital
deployment
12. • Drive organic growth
• Develop differentiated product offerings leveraging
Enhanced market insight and innovation capabilities
Emerging trends
New technology and sourcing resources
• Improve margins
• Expand into adjacent categories
11
• Improve customer focus and responsiveness
Customer feedback and consistent engagement
Adapting operating practices to meet customer needs
• Remove non-value-added complexity
Streamline supply chain network and product portfolio
Improve product life-cycle management
Support continuous improvement and cost reduction
Match manufacturing platform to emerging trends and market
conditions
Own the Moment strategy: three key focus areas
Growth
through
Innovation
Customer
Focus
Business
Simplification
13. 1. Global glass tableware leader: #2 in the world; #1 in the Western Hemisphere
Favorite U.S. glassware brand with strongest unaided brand recognition
2. #1 U.S. Foodservice business drives significant recurring revenue and profitability
#1 North American retail position drives consumer recognition and capacity
utilization
3. Established global presence with significant growth potential
4. Cost structure optimization combined with manufacturing innovation creates
significant advantage
5. Strong cash flow, liquidity and credit profile
6. Balanced approach to capital allocation
Investment highlights
12
14. 10% global market share(1)
Market leadership in U.S. and Mexico
• ~60% share of U.S. foodservice glass beverageware market (1)
• ~53% share of Mexican glass tableware market (1)
• #1 casual glass beverageware position in the U.S. retail channel (2)
• Significant supplier in B2B segment
Strong shelf position with major retailers:
Recognized for excellence by leading foodservice distributors:
#1 producer of casual glass beverageware in the
Western Hemisphere
(1) Management estimate
(2) NPD Group Retail Tracking Service and management estimates
1
13
15. Favorite U.S. glassware brand and strongest
unaided brand recognition
14
→ The favorite U.S. Glassware Brand and strongest unaided brand
recognition;(1) extensive product line ranging from tumblers to fine stemware
→ Leading producer of glass tableware in Mexico and Latin America
→ Provides an expanded presence in Europe with products ranging from
tumblers to stemware
→ Among the world leaders in producing and selling glass stemware
→ “Class of glass”; high performance for every occasion
→ Fine Bavarian crystal; crystal glassware specialist
→ Broad selection of unique dinnerware, flatware, hollowware
→ Broad range of dinnerware with distinctive designs and durable qualities
→ One of the world’s leading providers of high-end porcelain for foodservice
→ One of world’s foremost marketers of fine tableware, including flatware,
stemware and dinnerware
Manufactured
Sourced
(1) According to survey conducted by NPD
1
16. #1 U.S. & Canada Foodservice
• 90% of Foodservice glass sales are replacements and drive a predictable revenue
stream
• Strong distribution network and in-house salesforce provide a competitive advantage
• Depth and breadth of product line maximizes addressable market and highlights
innovation capabilities
• Installed base and high switching costs in foodservice; establishments rarely change
after initial investment
• Steady pace of innovation and critical profitability of beverageware lead to lower
price sensitivity; U.S. and Canada foodservice business has achieved price
increases in 42 of last 46 years
• Sourced dinnerware and flatware provide additional growth opportunities at very
attractive ROIC(1)
• Additional growth opportunities outside full-service restaurants and bars
#1 in Western Hemisphere and
#1 in North America2
15
(1) See Appendix: Definition and reconciliation of non-GAAP measures for definition of ROIC
17. #1 North America Retail Position
• #1 Retail brands in U.S., Canada and Mexico(1)
• Ability to provide products across multiple price points leverages foodservice and B2B
costs and capabilities
• Important driver of factory utilization
• Enhances trend/product life and innovation platform
• Important for brand recognition and brand loyalty – can be leveraged further
• Exclusive distributor for Spiegelau glassware in retail channel in the U.S. and Canada
2
16
#1 in Western Hemisphere and
#1 in North America
(1) Casual glass beverageware category, NPD and management estimates
18. Established global presence with significant
growth potential3
17
Grow and bolster U.S. and Canada, Latin America
• Grow around core foodservice business
• Expand in additional categories and market
segments in retail and B2B
• Strengthen and broaden product offerings
Maximize returns in Asia Pacific and EMEA
• Complements Americas’ leadership position
• EMEA: reconfigure the business through targeted
investments
• Asia Pacific: selective growth with managed
investment
Expand footprint in underserved and emerging market
segments
2015 Net Sales by Segment
2015 EBIT by Segment
U.S.
& Canada
75%
Latin
America
20%
EMEA
1%
Other
4%
U.S.
& Canada
61%
Other
4%
Latin
America
20%
EMEA
15%
19. 3 Libbey’s finest glassware:
“elevates the everyday into art”
A laser cut
rim ensures
a fine and
even edge
A pulled stem
creates a strong
and beautifully
seamless
transition between
bowl and stem
Reinforced flat foot
design provides
extra stability and
chip resistance
The exceptional
brightness and
clarity of the glass
enhance the
presentation of the
wine
Unique Libbey
ClearFire®
formula creates
brilliance &
strength
18
Retail Foodservice
20. Full line of stemware, tumblers and specialty
drinkware for retail and foodservice channels3
19
A reinvention of a classic shape
Subtle design
Harmony and balance
Gentle contours and thick sham
Modern luxury
Extraordinary angles
Free-flowing movement
Dramatic height
21. Be Social artisan bakeware
20
• Be Social Artisan Bakeware
designed for retail channel
• New Libbey-designed stoneware
using sourced manufacturing
Reactive blue glaze literally
makes every piece unique
Four essential shapes
cover most baking needs
• Artisan stoneware that’s
dishwasher, oven and
microwave safe
Libbey makes oven to table beautiful
3
22. Launched three new “trend-right” collections
in foodservice
21
Connecting to
Trends & Insights
Mix & Match
Natural
Perfectly Imperfect
New matte-satin finish,
organic shapes
Organic shapes, earthy
color variations
Nostalgic patterns, “trend-right” blues and grays
3
23. Executed multiple cost reduction initiatives as part of Libbey 2015
• Workforce optimization
• Productivity improvements
• Realignment of capacity
Own the Moment continues focus on operating efficiencies
• Reduce manufacturing complexity
• End-to-end supply chain management
• Optimize manufacturing output through improved sales and
operations planning
Innovation and world class manufacturing technologies
create competitive advantage
• R&D innovation/disruptive technology – Libbey Signature™ and
Masters Reserve® fine glassware
• Leading proprietary furnace, manufacturing and mold technologies
• Leveraging external relationships and partnerships to gain further
advantage
Cost optimization combined with manufacturing
innovation create significant advantage4
22
24. Position of strength and business model drive
predictable revenue stream and cash flow
(1) See Appendix: Definition and reconciliation of non-GAAP measures for details regarding calculation of Adjusted EBITDA,
Adjusted EBITDA Margin and Adjusted Operating Cash Flow
23
Historical Cumulative
Adjusted Operating Cash flow (1)
(MM)
$(1)
$105
$176
$233
$358
$432
$558
$624
2008 2009 2010 2011 2012 2013 2014 2015
5
$810
$749
$800 $817 $825 $819
$852
$822
$85 $90
$116 $113 $132 $135 $123 $116
2008 2009 2010 2011 2012 2013 2014 2015
Net Sales Adjusted EBITDA
10.5%
12.0%
14.5%
13.8%
16.0% 16.5%
14.5% 14.1%
Adjusted EBITDA Margin
Net Sales, Adjusted EBITDA and Margin (1)
(MM)
25. 6.4
4.3
3.2 3.0 3.0 2.7 3.1 3.3
2008 2009 2010 2011 2012 2013 2014 2015
1.2 1.4
2.6 2.6
3.5
4.2
5.4
6.3
2008 2009 2010 2011 2012 2013 2014 2015
Flexible capital structure includes term loan and ABL
facilities
• $440MM senior secured Term Loan B matures 2021
LIBOR plus 300 bps (currently 3.75%)
No financial covenants
$150MM accordion option
• $100MM ABL facility matures 2019
LIBOR plus 150-200 bps; maturity 2019
Improved interest coverage
• Significant reduction in borrowing rates since 2011 due to floating
rate trend and debt agreement updates; annual interest expense
reduced ~50% ($20MM)
• $220MM of the Term Loan B swapped to fixed, reducing floating
rate exposure to ~50:50 mix, effective January 2016
Significant deleveraging despite investments to
strengthen the business
• Fully funded U.S. pension in 2012, lowering annual cash
contributions
• ~$8MM estimated global cash contribution in 2016,
approximately all to non-U.S. plans
Capital structure and leverage policy provide
financial flexibility
24
Adjusted EBITDA / Interest Expense
Net Debt / Adjusted EBITDA
5
(1) See Appendix: Definition and reconciliation of non-GAAP measures for details regarding calculation of Adjusted EBITDA and
the ratio net debt/Adjusted EBITDA
26. • Strong cash generation and liquidity
$25.6MM cash on hand at 3/31/16
$91.4MM ABL availability at 3/31/16
• Seasonal working capital needs
Average $30-$35MM peak to trough swing in
quarter-end working capital each year (1)
• Capital expenditures on average about
equal to depreciation
~$30 million growth investment for new glass
manufacturing technology over 2014-2015
Flexibility to selectively review M&A
opportunities
• No significant long-term debt maturities
until Term Loan B in 2021
Significant liquidity resources and moderate near-
term funding obligations
25
$122
$136
$113
$142 $140
2011 2012 2013 2014 2015
Total of Cash and ABL Availability
(MM)
Cash ABL Availability
0
10
20
30
40
50
60
2011 2012 2013 2014 2015
Capital Expenditures, Depreciation & Amortization
Capital Expenditures Depreciation & Amortization
$Millions
5
(1) Working capital is defined as net accounts receivable plus net inventories less accounts payable as also noted in Appendix:
Definition and reconciliation of non-GAAP measures
27. Balanced approach to capital allocation6
26
Invest in
the
business
Maintain
financial
strength
and
flexibility
Return
capital to
investors
• Support/accelerate the organic growth of our business
• Selectively consider acquisitions
• New technologies and manufacturing capabilities
• Other strategic initiatives
• Target to return ~50% of free cash flow to shareholders for
period 2015 - 2017
Over 50% distributed in 2015: $25MM
• Re-initiated common dividend at annual $0.44/share in 2015
5% dividend increase for 2016 to $0.46/share
• Share repurchase authorization increased to 1.5 million
shares in 2015
Over 513K shares repurchased since December 2014
totaling ~$17.5MM
• Long-term target leverage ratio range of 2.5x – 3.0x net debt
to Adjusted EBITDA (1)
• Ability to flex up or down
• Plan to reduce debt in 2016 to target range; made a $5MM
optional payment in Q1 2016
(1) See Appendix: Definition and reconciliation of non-GAAP measures for details regarding calculation of Adjusted EBITDA and
the ratio net debt/Adjusted EBITDA
28. Delivered solid Q1 2016 in a challenging
macroeconomic environment
27
Q1 Highlights
• Net sales grew 0.5% (constant currency),
in line with our expectations
Continued strength in foodservice, up
6.3% (constant currency)
12th consecutive quarter of
foodservice volume growth despite
continued restaurant traffic softness
(Q1 2016 down 2-3%)
• Currency impact of ~$6MM on revenue
and ~$3MM on Adjusted EBITDA (1)
primarily due to weaker Mexican peso
• Adjusted EBITDA margin (1) was 180 bps
better than prior year due to favorable
price/mix, lower input costs and SG&A
• Adjusted EBITDA margin (1) was 13.9%,
excluding currency impact
Currency Impact vs. PY
$187
$183
$20
$22
$-
$50
$100
$150
$200
2015 2016
Q1 Net Sales
Q1 Adjusted EBITDA
10.5%
12.3%
0%
5%
10%
15%
20%
25%
Adjusted EBITDA Margin
Q1 Net Sales, Adjusted EBITDA and Margin (1)
Millions
$188
$25
(1) See Appendix: Definition and reconciliation of non-GAAP measures for details regarding calculation of Adjusted EBITDA and
Adjusted EBITDA Margin
29. We expect a continued challenging macroeconomic and
competitive environment in 2016
28
2016 Earnings Outlook
• Net sales growth of ~1% on a reported basis
• 2016 Adjusted SG&A(1) in the low 15% range
• 2016 Adjusted EBITDA(1) margin of ~14%
Tailwinds
+ Net sales growth
+ Natural gas
Headwinds
- Production activity
- Rebuild variable compensation
- Other benefit costs
- Currency impacts
(1) See Appendix: Definition and reconciliation of non-GAAP measures for details regarding calculation of Adjusted SG&A and
Adjusted EBITDA
30. Long-term financial goals
29
Financial
Metric
Long-term Goal
Revenue growth $1B +
Adjusted EBITDA margin 17%
Net debt to adjusted EBITDA 2.5 to 3.0x
ROIC(1) 12% to 14%
TSR Top quartile
(1) See Appendix: Definition and reconciliation of non-GAAP measures for definition of ROIC
31. Market Firm Net Sales 2015A Rev. Split '16E Margin FV / EBITDA P / E Net Debt /
Company Cap Value 2016E 2017E N.A. Europe ROW EBITDA EBIT 2016E 2017E 2016E 2017E LTM EBITDA
New ell Brands Inc $24,139 $37,902 $13,528 $16,415 70% -- 30% 18.7% 15.7% 15.0x 12.2x 17.2x 16.1x 6.3x
Tupperw are Brands Corporation2,842 3,592 2,236 2,315 26 26 48 17.9 15.1 9.0 8.5 13.1 12.1 2.1
Helen of Troy Limited 2,852 3,355 1,589 1,649 84 12 4 14.6 11.1 14.4 13.6 16.8 15.4 1.9
Lifetime Brands, Inc. 208 290 590 608 79 14 8 -- -- -- -- 14.2 11.3 2.4
Mean $7,510 $11,285 $4,486 $5,246 64% 18% 22% 17.1% 14.0% 12.8x 11.4x 15.3x 13.7x 3.2x
Median 2,847 3,473 1,913 1,982 74 14 19 17.9 15.1 14.4 12.2 15.5 13.8 2.2
Libbey Inc. $346 $761 $829 $845 61% 15% 25% 14.2% 8.6% 6.5x 6.2x 10.4x 8.9x 3.4x
Trading at a significant discount to peers
30
Note: Forward metrics based on consensus Wall Street estimates (FactSet). Market data as of June 30, 2016. Balance sheet data as of Q1 2016.
(1) Newell Brands pro forma for Jarden acquisition closed April 15, 2016.
(2) Based on 497mm pro forma shares outstanding.
(3) Based on pro forma debt of $13.9bn and pro forma cash of $181mm.
(4) Based on pro forma LTM EBITDA of $2.2bn.
(5) Revenue split based on fiscal year ended February 29, 2016.
($ in millions)
(1)
(5)
(2) (3) (3)(4)
33. We have expanded globally and have a strong
portfolio of brands
32
Jun 2006: Obtains
remaining 51%
stake in Crisa,
expanding presence
to Monterrey,
Mexico
Jan 2005: Acquires
Crisal, a glassware
manufacturer based
in Portugal
1800s 1990
Jul 2013: Celebrates
125th Anniversary in
Toledo
2002 2006 20112008 20122000
Dec 2002: Acquires Royal
Leerdam, expanding
glassware operations to
Europe
May 2012:
Refinancing
amended $100MM
ABL facility
and issuance of
$450MM 6.875%
Senior Secured
Notes
Apr 2007: Opens
Langfang, China
facility
Aug 1997:
Acquires World
Tableware and
49% of Crisa
2014
Apr 2014:
Refinancing,
including amended
$100MM ABL
Facility and new
$440MM Term
Loan B senior
secured credit
facility
1818: Libbey
founded as New
England Glass
Company in East
Cambridge, MA
s
Jun 1993:
Libbey becomes
a public company
1892:
The company
changes its name
to The Libbey
Glass Company
Oct 1995:
Acquires
Syracuse China
Aug 2011: Bill
Foley becomes
Chairman of the
Board
2015
Jan 2015:
Announce Own the
Moment strategy.
Re-initiate dividend
and share
repurchases
Jan 2016:
Bill Foley
becomes CEO
and Chairman of
the Board
2016
34. 33
Definition and reconciliation of non-GAAP measures
Q1 2016 Q1 2015 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008
Net income (loss) 0.7$ 3.1$ 66.3$ 5.0$ 28.5$ 7.0$ 23.6$ 70.1$ (28.8)$ (80.4)$
Add:
Interest expense 5.2 4.5 18.5 22.9 32.0 37.7 43.4 45.2 66.7 69.7
Provision (benefit) for income taxes (0.1) 1.3 (38.2) 8.5 13.2 5.7 1.7 11.6 2.7 6.3
Depreciation and amortization 12.1 10.2 42.7 40.4 44.0 41.5 42.2 41.1 43.2 44.4
Earnings before interest, taxes, deprecation and
amortization (EBITDA) 17.9 19.1 89.3 76.8 117.7 91.9 110.9 168.0 83.8 40.0
Add: Special items before interest and taxes:
Restructuring and facility closure charges - - - 1.0 6.5 - (0.1) 2.5 3.8 29.1
Severance - - - - 5.1 1.1 - - -
Pension curtailment and settlement charges - - 21.7 0.8 2.3 4.3 - - 3.2 -
Loss (gain) on redemption of debt - - - 47.2 2.5 31.1 2.8 (58.3) - -
Abandoned property - - - 1.8 - 2.7 - - -
Gain on sale of assets - - - - - (6.8) - - -
Goodwill and intangible impairment charges - - - - - - - - 11.9
Derivatives (0.3) 0.4 (0.2) 1.2 0.9 (0.3) (0.3) 0.8 - -
Other
(1)
4.9 0.2 5.3 (3.6) 5.1 - 2.5 2.8 - 4.5
Less: Accelerated depreciation expense included in special
items and also in depreciation and amortization above - - - - (1.5) - - - (0.7) (0.3)
Adjusted EBITDA 22.5$ 19.7$ 116.1$ 123.4$ 135.3$ 132.1$ 112.8$ 115.8$ 90.1$ 85.2$
Net sales 182.8$ 187.4$ 822.3$ 852.5$ 818.8$ 825.3$ 817.1$ 799.8$ 748.6$ 810.2$
Adjusted EBITDA Margin 12.3% 10.5% 14.1% 14.5% 16.5% 16.0% 13.8% 14.5% 12.0% 10.5%
Reconciliation of Net Income (Loss) to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), Adjusted EBITDA and Adjusted EBITDA Margin
(Dollars in millions)
(1) Other in Q1 2016 and Q1 2015 includes $4.9 million and $0.2 million, respectively, for executive terminations. FY 2015 includes $4.3 million for reorganization charges, $0.9 million for executive termination,
and $0.2 million for an environmental obligation. 2014 includes $(4.8) million for furnace malfunction net proceeds, $0.9 million for executive retirement charges, and $0.3 million for an environmental obligation.
2013 includes $4.4 million of furnace malfunction charges and $0.7 million for executive retirement charges. 2011 includes $2.7 million for CEO transition expenses, $(1.0) million for an equipment credit and an
$0.8 million write-down of unutilized fixed assets. 2010 includes $2.7 million of fixed asset write-down charges, $1.0 million in expenses related to a secondary stock offering and a $(0.9) million insurance claim
recovery. 2008 includes a $4.5 million fixed asset write-down charge.
Adjusted EBITDA for the fiscal year ending December 31, 2016 is adjusted to exclude the impact of executive terminations and other non-recurring charges for the fiscal year ending December 31, 2016.
35. 34
Definition and reconciliation of non-GAAP measures
2015 2014 2013 2012 2011 2010 2009 2008
Adjusted EBITDA
(1)
116.1$ 123.4$ 135.3$ 132.1$ 112.8$ 115.8$ 90.1$ 85.2$
Debt
(2)
431.0 437.9 402.4 454.2 390.1 436.6 512.0 543.5
Plus: Unamortized discount, finance fees and warrants
(2)
5.8 7.0 9.5 12.3 11.6 16.9 5.0 11.4
Less: Carrying value in excess of principal on PIK notes - - - - - - 70.2 -
Less: Carrying value adjustment on debt related to the Interest
Rate Agreement - - (1.3) 0.4 4.1 3.3 - -
Gross Debt 436.9 444.9 413.2 466.1 397.6 450.2 446.8 554.9
Cash 49.0 60.0 42.2 67.2 58.3 76.3 55.1 13.3
Debt net of cash 387.9$ 384.9$ 371.0$ 398.9$ 339.3$ 373.9$ 391.7$ 541.6$
Debt net of cash to Adjusted EBITDA Ratio 3.3 3.1 2.7 3.0 3.0 3.2 4.3 6.4
Interest expense 18.5$ 22.9$ 32.0$ 37.7$ 43.4$ 45.2$ 66.7$ 69.7$
Adjusted EBITDA to Interest Expense Ratio 6.3 5.4 4.2 3.5 2.6 2.6 1.4 1.2
Reconciliation of Adjusted EBITDA to Debt net of cash to Adjusted EBITDA Ratio and Adjusted EBITDA to Interest Expense Ratio
(Dollars in millions)
(1) - See prior page for calculation and reconciliation to net income.
(2) - All years reflect retrospective adoption of ASU 2015-03 and 2015-15, which presents debt issuance costs of senior debt as a reduction to the liability.
Definitions – Other Non-GAAP Measures
Working capital is defined as net accounts receivable plus inventory less accounts payable
Return on invested capital (ROIC) is defined as after tax income from operations (using a 30% tax rate), adjusted for special items, over ending working capital plus net book
value of property, plant and equipment
Adjusted Operating Cash Flow is defined as net cash provided by operating activities plus 2012 pension contribution (to fully fund our target obligations under ERISA), plus
call premiums on senior notes and/or floating rate notes, plus debt issuance costs.
2016 Adjusted SG&A is defined as selling, general and administrative expenses adjusted to exclude the impact of executive terminations and other non-recurring charges, if
any, for the fiscal year ending December 31, 2016.
36. NYSE MKT: LBY
Kimberly Hunter
Treasurer and VP, Investor Relations
419-325-2612
email: khunte@libbey.com
Alpha IR Group
Chris Hodges & Sam Gibbons
312-445-2870
email: LBY@alpha-ir.com
Additional Information
visit our website: www.libbey.com
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