EX-99.1 2 d618134dex991.htm EX-99.1 EX-99.1
October 30, 2013
Annual Stockholder Meeting
FY 2013 Review
Exhibit 99.1

Forward-Looking Statements
Some of the statements in this presentation constitute “forward-looking statements”
about
John
B.
Sanfilippo
&
Son,
Inc.
Such
statements
include,
in
particular,
statements
about our plans, strategies, business prospects, changes and trends in our business
and the markets in which we operate. In some cases, you can identify forward-looking
statements
by
the
use
of
words
such
as
“may,”
“will,”
“could,”
“would,”
“should,”
“expect,”
“plan,”
“anticipate,”
“intend,”
“believe,”
“estimate,”
“forecast,”
“predict,”
“propose,”
“potential”
or “continue”
or the negative of those terms or other comparable
terminology.
These
statements
represent
our
present
expectations
or
beliefs
concerning
future
events
and
are
not
guarantees.
Such
statements
speak
only
as
of
the date they are made, and we do not undertake any obligation to update any
forward-looking statement.
We caution that forward-looking statements are qualified by important factors, risks
and uncertainties that could cause actual results to differ materially from those in the
forward-
looking statements. Our periodic reports filed with the Securities and
Exchange Commission, including our Forms 10-K and 10-Q and any amendments
thereto, describe some of these factors, risks and uncertainties.
2

Agenda
3
JBSS Overview and
Strategic Goals
Jeffrey Sanfilippo
Chairman & CEO
Financial Review
Mike Valentine
CFO & Group President
Brand Marketing 
Howard Brandeisky
Sr. VP Global Marketing
& Customer Solutions
Brand Sales
Chris Gardier
Sr. VP Consumer Sales
Closing Remarks
Jeffrey Sanfilippo
Chairman & CEO

Diluted EPS Improvement of over 600%
Operating Cash flow increased by nearly 400%  
Net Sales increased by 9% to a record $734 million  
Time to Celebrate Successful Results over
last two years
4
$674,212
$700,575
$734,334

Creating Shareholder Value
JBSS
Stock Price
$13.94
10/24/2012
Stock Price
$24.44
10/24/2013
Outperformed the S&P 500 by over 50%!
5
S&P500

Mission
To be the global leader of quality driven,
innovative nut solutions that enhance
the customer and consumer
experience and achieve consistent,
profitable growth for our
shareholders.
We will accomplish this
through our commitment to a
dynamic infrastructure that
maximizes the potential of our
brands, people and processes.
Core Values
Integrity
People
Investment
Customer Driven
Quality
Innovation
Execution
Continuous Improvement
Safety
Resource Conservation
6

We are 1,290 people strong!
150 Employees
760 Employees
45 Employees 
125 Employees 
210 Employees 
7

$34
$178
$86
$436
Distribution Channel Diversification
(Millions of $)
8
Fiscal 2013 Net Sales $734 Million
Commercial
Ingredients
24%
Contract Pkg.
12%
Consumer
59%
Export
5%

FY 2013 Consumer Channel
FY 2013 Consumer Channel
Consumer
59%
9
vs. FY ‘12
Fiscal 2013 Net Sales $436 Million
4.2%

FY 2013 Commercial Ingredients Channel
FY 2013 Commercial Ingredients Channel
10
vs. FY ‘12
.7%
Commercial
Ingredients
24%
Fiscal 2013 Net Sales $178 Million

FY 2013 Export Channel
FY 2013 Export Channel
11
Fiscal 2013 Net Sales $34 Million
Export
5%
1.4%
Vs. FY ‘12
$

Contract
Packaging
2013 Contract Packaging Channel
2013 Contract Packaging Channel
12
Vs. FY ‘12
12%
$
22.1%
Fiscal 2013 Net Sales $86 Million

Corporate Strategies
13
13

14

FY 2013 Accomplishments
•
Fisher Brand delivered double-digit
growth over FY ‘12
•
Fisher Recipe Nuts expanded
distribution and gained market share
•
Orchard Valley Harvest launched on-
the-go packs and gained distribution at
key retailers across the country
15

Goal: Build Fisher Recipe Nuts to
#1 Market Share Position Nationally
16

How: Investing in Fisher Brand, Service
& Production Flexibility
17
FISHER RECIPE NUT $ SALES
SHIPPERS & QUARTER PALLET DISPLAYS
$4,422,767
$1,042,790
$777,876

Goal: Build Fisher Snack Nuts to 
#2 Market Share Position in Midwest
18

How: Investing in Fisher Snack Brand
to Drive Growth!
Fisher Snack Sports Sponsorships and New Products
19

Dominick's
Goal: Build Orchard Valley Harvest to
Top 5 Market Share Position -
Produce
Sprouts
20

Coupons
Website:
www.orchardvalleyharvest.com
Social Media
Offer Tear Pads
Educational Tear Pads
In-Store Sampling
In-Store Displays
Corrugate
Shippers
Sturdy Display
Racks
How: Provide Support to Drive Trial & Awareness
21

•
Created a geographic-centric sales
structure and hired experienced
professionals to manage key regions
•
Partnered with leading international
marketing firms to do proprietary
research on nut usage and
consumption in Asia
•
Invested in upgrading our Fisher
Brand positioning and packaging
FY 2013 Accomplishments 
22

Goal: Double International Sales by FY2016
A world of opportunity for JBSS to be a leader in health
and wellness nut/fruit snacks in key international markets
$34 MM
$70 MM
23

How: Refresh & Upscale Fisher Brand
Internationally
24
•
Premium look conveys premium quality
•
Launched in China …
expanding to all International markets
Consumer response has been outstanding:

Who: China Retailers
25
Shanghai
Fisher in Tibet
Beijing
25

Who: Latin America Retailers
26
•
Mexico
•
Dominican Republic
•
Panama
•
Colombia
Comercial Mexicana
Chedraui
-
Mafer
El Rey -
Panama
Walmart / Superama
Fisher
“World Table”
El
Dragon
–
Santo
Domingo
Liverpool
-
Mexico   

Who:  Europe, Middle East, Africa, Asia
Retailers
•
Russia
•
U.A.E.
•
U.K.
•
Saudi Arabia
•
South Korea
•
Malaysia
•
Japan
•
Australia
27

FY 2013 Accomplishments
•
Developed significant product
launches with several key
customers
•
Continued to expand our
production capabilities and our
focus on innovation and consumer
insights
•
Received
two
major
Supplier
of
the
Year
customer
awards
28

Goal:  Be The Preferred Partner to Build Profitable Volume
of Value-Added Nuts & Snacks
Walmart Supplier of the Year
Frito-Lay Supplier of the Year
29

•
Reduce Foreign Material Complaints
•
Customer Quality Scorecards
•
Stringent Corporate Food Safety Programs
•
Raw Material Sourcing
•
Product & Packaging Innovation
How: Commitment to Quality, Food Safety,
Innovation & Procurement Expertise
30
Almonds, Walnuts, Pecans, Pistachios,
Peanuts, Raisins, Cranberries
Pecans, Pine Nuts
Macadamias
Cashews
Cashews
Macadamias
Cashews
Cashews
Macadamias
Hazelnuts
Pine Nuts

How: Operational Excellence
Setup
Reduction
5S
Housekeeping
Create Flow
Quality
Balance
Flow
Visual
Management
Continuous
Improvement
Kanban Pull
Systems
Standard
Work
Bottlenecks
1
2
Checkers checking the checkers
3
Broken interfaces
4
Unclear roles and responsibilities
5
5 things to look for…
The 9 lean principles of process improvements
•
Competitive Costs        
•
Production Efficiencies 
•
Waste Reduction
•
Best in Class Cross-Functional Departments
31
31
Duplicate Work

Leading Food Companies and Retailers
32

Vision
To be the global source for nuts,
committed to quality,
expertise and innovation that
delivers an unmatched
experience to our customer
and consumer
Core Values
Integrity
People
Investment
Customer Driven
Quality
Innovation
Execution
Continuous Improvement
Safety
Resource Conservation
33

FY 2013
Financial  Milestones 
34

JBSS Stockholders’
Equity FYs1991   2013        
35
25
32
69
68
76
73
73
78
80
87
94
102
119
181
196
180
163
158
165
180
184
201
215
-

JBSS Net Sales FYs 1991-
2013
Item Rationalization, De-emphasized
Commodity Sales, Lower Prices
Low Carb Diet Run Up
36

JBSS Total Outstanding Debt FYs 1991-
2013
Facility consolidation
Improved operating performance
37
$140
$160
$100
$120
$60
$80
$20
$40
$0
50
76
71
107
107
98
93
118
100
99
89
70
70
19
144
138
148
133
94
99
101
95
74

JBSS Total Outstanding Debt As % of Net Sales
FYs 1991 –
2013
Note:  FY 1997 reflects stub year
38
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
55.0%
60.0%
65.0%
70.0%
75.0%

EBITDA consists of earnings before interest, taxes, depreciation,
amortization and noncontrolling interest. EBITDA is not a measurement
of financial performance under accounting principles generally accepted
in
the
United
States
of
America
("GAAP"),
and
does
not
represent
cash
flow from operations. EBITDA is presented solely as a supplemental
disclosure because management believes that it is important in
evaluating JBSS's financial performance and market valuation.  In
conformity with
Regulation
G,
a
reconciliation
of
EBITDA
to the most
directly comparable financial measures calculated and presented
in
accordance
with
GAAP
is
presented
in
the
following
slide.
EBITDA
39

Reconciliation of Net Income (Loss) to EBITDA
(In $000's)
FY2003
FY2004
FY2005
FY2006
FY2007
FY2008
FY2009
FY2010
FY2011
FY2012
FY2013
NET INCOME (LOSS)
15,027
22,630
14,499
(16,721)
(13,577)
(5,957)
6,917
14,425
2,835
17,122
21,760
INTEREST EXPENSE
4,681
3,434
3,998
6,516
9,347
10,502
7,646
5,653
6,444
5,364
4,754
INCOME TAX
(BENEFIT) EXPENSE
9,607
14,468
9,269
(8,689)
(7,520)
(897)
(259)
8,447
(49)
9,099
13,536
DEPRECIATION &
AMORTIZATION
11,248
11,190
10,501
10,000
13,584
15,742
15,922
15,825
16,968
17,117
16,717
EBITDA
40,563
51,722
38,267
(8,894)
1,834
19,390
30,226
44,350
26,198
48,702
56,767
NET SALES
419,677
520,811
581,729
579,564
540,858
541,771
553,846
561,633
674,212
700,575
734,334
EBITDA MARGIN
(% OF NET SALES)
9.7%
9.9%
6.6%
-1.5%
0.3%
3.6%
5.5%
7.9%
3.9%
7.0%
7.7%
POUNDS SOLD
250,629
284,576
278,741
248,137
246,142
221,958
217,465
224,302
232,746
212,553
221,762
EBITDA PER POUND
SOLD
0.162
0.182
0.137
(0.036)
0.007
0.087
0.139
0.198
0.113
0.229
0.256
40

EBITDA*
*
EBITDA
is
a
non-GAAP
measure.
See
slide
entitled
“Reconciliation
of
Net
Income
(Loss)
to
EBITDA”
for
reconciliation
to
GAAP
measure
41
$65,000
$60,000
$55,000
$50,000
$45,000
$40,000
$35,000
$25,000
$30,000
$20,000
$15,000
$10,000
$5,000
$0
-$5,000
-$10,000
-$15,000

EBITDA* Margin (% of Net Sales)
42
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
*
EBITDA is a non-GAAP measure.  See slide entitled  “Reconciliation of Net Income (Loss)  to EBITDA” for reconciliation to GAAP  measure

EBITDA* Per Pound Sold
* EBITDA
is
a
non-GAAP
measure.
See
slide
entitled
“Reconciliation
of
Net
Income
(Loss)
to
EBITDA”
for
reconciliation
to
GAAP  measure
43
$0.30
$0.25
$0.20
$0.15
$0.10
$0.05
$0.00
-$0.05
-$0.10

Market prices from survey of JBSS brokers and suppliers
Nut Spot Mkt. Prices vs. JBSS Rolling 4 QTR Gross Margins
44
0.0%
1.5%
3.0%
4.5%
6.0%
7.5%
9.0%
10.5%
12.0%
13.5%
15.0%
16.5%
18.0%
19.5%
21.0%
22.5%
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
$5.50
$6.00
$6.50
$7.00
$7.50
rolling gm
cashews 320's
almonds nps 25/27
Peanuts
pecans jr. mammoth
walnuts combo 1/2's & pcs.

Highlights: Q1 2014 vs. Q1 2013 
$ Chng.
% Chng.
Net Sales
Sales Volume (lbs. sold)         
Gross Profit
Net Income
Earnings Per Share  (EPS)
Total Debt
45
’
7,004
($     810)
($  1,204)
($     759)
($    0.08)
($16,920)
(.5%)
14.0%
(3.9%)
(10.1%)
(11.4%)
(19.6%)
(in 000 s except EPS)

FY 2013
Sales & Marketing Update
46

Grow Brands 
47
Recipe Nuts
Snack Nuts

48

Fisher Brand Delivering Double
Digit Growth
Consumer Channel 
Pounds
(Millions)
Gross Revenue
($ Millions)
FY ’13
Actual
Versus
FY’12
FY ’13
Actual
Versus
FY’12
Fisher Brand
29
+17%
$138
+23%
49

50
Easier to scoop
Easier to find in
the pantry
Freshness seal
keeps nuts fresh
Innovation that meets the needs of
the Consumer…
Before…. 

…and the Retailer
Easier to
Merchandise
Reduced Case
Count to reduce
Inventory
Shelf Ready Case
to reduce Labor
Before….
51

Celebrity Chef Alex Guarnaschelli
in TV Vignettes and Print
Building the Fisher Brand with
Food Network Sponsorship

Taking Food Network Relationship
up a Notch in FY 2014!
Fisher Recipe Contest with
Alex Guarnaschelli as the
Final Judge!
Extending Social Media
Integration
53

We extend our reach through Print
that reaches our Core Consumer
54

Get   Free!
Buy
2
Winning In-Store with Displays!
Karo Tie-in leads to 7X increase in “Pounds on the
Floor”
55

Our Strong Consumer and Retailer
Program is driving Distribution Gains…
56
Recipe Nuts

…and Market Share Gains among
Branded Recipe Nuts
57
Source : Nielsen scantrack data 4 week periods 7/7/12 to 9/28/13
70%
60%
50%
40%
30%
20%
10%
0%
June ‘12
July ‘12
Aug ‘12
Sept ‘12
Oct ‘12
Nov ‘12
Dec ‘12
Jan ‘13
Feb ‘13
March ‘13
April ‘13
May ‘13
June ‘13
July ‘13
Aug ‘13
Sept ‘13
Oct ‘13
Fisher Recipe Nuts LB Sales % Change vs. Last Year

Growing Fisher Snack by getting the
Fundamentals Right…
New Products
Coupon Support
In-Store
Merchandising
58

…driving Distribution Gains
59
Snack Nuts

Fisher Website & Mobile Site      
Pinterest   
Email Newsletter    
Facebook     
Twitter Party & Blogging     
Building relationships with consumers
with overarching Fisher Brand Support
60

Vehicle
2013FY Vs. YAG
Website Visitors
+187%
E-Mail
Subscribers
+29%
Facebook Fans
+63%
Pinterest
Followers
100%
…and Getting Great Results!
61

Pure and Simple Goodness
62

63
Consumers want to know what’s
in their food
Consumers want products that
fit their active lifestyle
Consumers are more proactive
about health & wellness
Three Key Consumer Trends

•Fresh
•Pure & Simple
•From the Earth
•Natural
•Authentic
64
Orchard Valley Harvest Delivers

Orchard Valley Harvest Delivers
65

Core Line of “Take
Home”
Bags
Health & Wellness
Mixes
Convenience Packs
A Differentiated Assortment
66

Building Distribution
(Bulk only)
BREAUX
Markets
67

Free Standing
Inserts
Website: www.orchardvalleyharvest.com
Social Media
Offer Tear Pads
Educational Tear Pads
In-
Store Sampling
In-Store Displays
Corrugate
Shippers
Display
Racks
Building the
68
Brand

Building Distribution
(Bulk only)
BREAUX
Markets
Updated: 10.19.13
69

Closing Comments
70
70

IMF Statistics

Vision
To be the global source for nuts, committed
to quality, expertise and innovation that
delivers an unmatched experience to our
customer and consumer.
Mission
To be the global leader of quality driven,
innovative nut solutions that enhance the
customer and consumer experience and
achieve consistent, profitable growth for
our shareholders.  We will accomplish this
through our commitment to a dynamic
infrastructure that maximizes the potential
of our brands, people and processes.
Core Values
Integrity
People
Investment
Customer Driven
Quality
Innovation
Execution
Continuous Improvement
Safety
Resource Conservation
74

647 W. Division Street Chicago, IL
75
From Humble Beginnings….

Celebrating 50 Years of Leadership 
76

Front Entrance off Busse Rd.
Side Entrance off Devon
Jasper Sanfilippo    Matt Valentine
Elk Grove Village Headquarters 
1982 –
2007

Front Entrance Busse Rd.
Side Entrance off Devon
Same Location Today…
End of an Era
78

We’ve come a long way thanks to you!
79

80
International Nut Congress
May
23
rd
,
2013
Golden Nut Award
Jasper Sanfilippo Sr.

Chairman Emeritus
Jasper B. Sanfilippo Sr. 
81

THANK YOU