EX-99.1 2 d848590dex991.htm EX-99.1

Sidoti & Company, LLC Emerging Growth Institutional Investor Forum January 12, 2015 NASDAQ: JBSS 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 *

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 stockholders. 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 3 * * * *

Who is JBSS? • One of the largest nut processors in the world with fiscal 2014 annual sales in excess of $778 million • State-of-the-art nut processing capabilities, including what we believe is the single largest nut processing facility in the world • A North American market leader in every major selling channel – from consumer and commercial ingredient customers to contract packaging and export customers • Dual consumer strategy of branded nut and dried fruit programs (Fisher, Orchard Valley Harvest) as well as private brands to major retailers • Commodity procurement expertise with buyers averaging over 20+ years experience • A category leader in packaging and product innovation • Vertically integrated nut processing operation for pecans, peanuts and walnuts 4 * *

“The success of any company is contingent upon having a strong team to manage and grow the business. We have that here at JBSS.” Gustine, CA 130 Employees Garysburg, NC 38 Employees Bainbridge, GA 102 Employees Selma, TX 167 Employees Elgin, IL 857 Employees * 5

We Are Experts In Every Nut Type We Are Experts In Every Nut Type 6 • Full portfolio of nuts • Broad variety of value- added products • Wide assortment of other snack products • Versatile and customized formulas • Benefits Appeals to major customers Adapts to changing consumer needs Reduces product concentration risks % of total gross sales * other consists of trail and snack mixes which include nut products *

We Are Experts In Procurement We Are Experts In Procurement 7 Pecans Peanuts Almonds Walnuts *

JBSS SALES CHANNEL UPDATES 8 * * * * * * * *

Commercial Ingredients 25% Contract Pkg. 13% Consumer 58% Export 4% $193 $98 $454 Business Channel Diversification (Millions of $) * Approximately 31% of the Consumer channel sales were Fisher brand sales $34 9 * *

4.1% 10 Consumer 58% vs. FY ‘13 FY 2014 Consumer Channel *

Commercial Ingredients 25% 8.4% 11 vs. FY ‘13 FY 2014 Commercial Ingredients Channel *

Export 4% 0% Vs. FY ‘13 FY 2014 Export Channel 12 *

14.0% 13 Contract Packaging 13% Vs. FY ‘13 FY 2014 Contract Packaging Channel *

FY 2014 Financial Milestones 14

Diluted EPS Improvement of 49% Net Sales increased by 11% to a record $778.6 million Time to Celebrate Successful Results over the last three years 680,000,000 700,000,000 720,000,000 740,000,000 760,000,000 780,000,000 800,000,000 FY12 FY13 FY14 Net Sales FY 12-FY 14 $778,622,000 15 0 0.5 1 1.5 2 2.5 3 FY12 FY13 FY14 EPS FY 12-FY 14 *

Creating Shareholder Value Outperformed the Russell 2000 Index by over 87%! 16 Stock Price $23.59 1/7/2014 Stock Price $42.75 1/7/2015 *

JBSS Stockholders’ Equity FYs 1991- 2014 17 * *

JBSS Net Sales FYs 1991- 2014 18 *

JBSS Total Outstanding Debt FYs 1991- 2014 19 * *

JBSS Total Outstanding Debt As % of Net Sales FYs 1991 – 2014 Note: FY 1997 reflects stub year 20 *

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 21 * * *

Reconciliation of Net Income (Loss) to EBITDA (In $,000's) FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 NET INCOME (LOSS) 22,630 14,499 (16,721) (13,577) (5,957) 6,917 14,425 2,835 17,122 21,760 26,287 INTEREST EXPENSE 3,434 3,998 6,516 9,347 10,502 7,646 5,653 6,444 5,364 4,754 4,354 INCOME TAX (BENEFIT) EXPENSE 14,468 9,269 (8,689) (7,520) (897) (259) 8,447 (49) 9,099 13,536 13,545 DEPRECIATION & AMORTIZATION 11,190 10,501 10,000 13,584 15,742 15,922 15,825 16,968 17,117 16,717 16,278 EBITDA 51,722 38,267 (8,894) 1,834 19,390 30,226 44,350 26,198 48,702 56,767 60,464 NET SALES 520,811 581,729 579,564 540,858 541,771 553,846 561,633 674,212 700,575 734,334 778,622 EBITDA MARGIN (% OF NET SALES) 9.9% 6.6% -1.5% 0.3% 3.6% 5.5% 7.9% 3.9% 7.0% 7.7% 7.8% POUNDS SOLD 284,576 278,741 248,137 246,142 221,958 217,465 224,302 232,746 212,553 221,762 240,417 EBITDA PER POUND SOLD 0.182 0.137 (0.036) 0.007 0.087 0.139 0.198 0.113 0.229 0.256 0.252 22 * *

EBITDA* * EBITDA is a non-GAAP measure. See slide entitled “Reconciliation of Net (Loss) Income to EBITDA” for reconciliation to GAAP measure 23 *

EBITDA* Margin (% of Net Sales) * EBITDA is a non-GAAP measure. See slide entitled “Reconciliation of Net (Loss) Income to EBITDA” for reconciliation to GAAP measure 24 -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% *

PEANUT AND TREE NUT SPOT MARKET PRICES VS. JBSS ROLLING 4 QTR. GROSS MARGIN % Source: Spot market prices from survey of JBSS vendors and brokers 25

Highlights: Q1 2015 vs. Q1 2014 (in 000’s except EPS) 26 $ Change % Change Net Sales $ 28,340 16.0% Sales Volume (lbs. sold) 4,055 7.1% Gross Profit $ 1,315 4.5% Net Income * ($860) (12.7%) Earnings Per Share ($0.08) (13.1%) Operating Cash Flows $ 20,455 276.3% Total Debt ($11,385) (16.4%) * Adversely impacted by $0.9 million after-tax increase in maintenance expenses for the exterior of our office building. *

27 John B. Sanfilippo & Son, Inc.: Transformed Consumer Products Company … Reproduced with permission of Snack Food & Wholesale Bakery magazine *

Nut Category Trends 28 * * * * * * * *

$4.53 $4.70 $5.31 $5.62 $5.68 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 Price Per Pound Price Per Pound Category Retail Prices Higher Over the Last 5 Years 29 *

0% 10% 20% 30% 40% 50% 60% Price Per Pound – Percent Change Over Last 5 Years Change vs. FY 2010 30 Retail Prices Up Across All Nut Types over the Last 5 Years +56% +46% +20% +18% +15% +29% +39% +26% +22% *

31 Nut Category has had strong Sales Growth *

CORPORATE STRATEGIES 32 * * * * * * * *

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• Fisher Recipe Nuts market share leadership excluding club size items • Fisher Snack Nuts market share growth in high franchise Midwest • Orchard Valley Harvest expanded distribution and increased velocity resulting in double-digit revenue growth • Award-winning marketing programs FY 2014 Accomplishments 34 *

• Established a Foreign Invested Commercial Enterprise (FICE) in China • Expanded Fisher Snacks in Asia and the Middle East • Continued to leverage key retail partnerships for a record year with private brands FY 2014 Accomplishments 35 *

• Received Contract Manufacturing supplier quality award • Optimized Food Service and Industrial Ingredient customer and product portfolios • Expanded Continuous Improvement efforts throughout our organization FY 2014 Accomplishments 36 *

FY 2014 Sales & Marketing Update 37

Grow Brands Recipe Nuts Snack Nuts 38 * *

Fisher is a Growing Brand Sales Pounds +7% Net Sales +6% Sales Pounds +1% Net Sales +8% Fiscal 2014 Actual vs. Prior Year 3 Year CAGR 39 *

40 Total Fisher Brand has Grown Dollar Share over the last 3 Years *

Strong and Sustained Growth on Fisher Recipe Nuts 37 Consecutive Quad–Weeks of Increased IRI measured Consumption! Source : IRI: Total Recipe Nut Category – Multi Outlet Geography – Latest 37 Quad Weeks Ending 12-28-14 41

Differentiating versus competition with “No Preservatives” Message Print 42 *

Recipes Food Network Vignettes Digital and Mobile Recipe Contest Food Network Magazine Social Media and PR Social Media and PR Building Fisher Brand Equity with Food Network Sponsorship 43 *

Expanding Social Media Presence with “Fisher Fresh Thinkers” 44 *

Winning the year is about Pounds-on-the-floor 45 Source: IRI: Ttl Recipe Nut Category – Multi Outlet Geography –Year Ending 6/29/14 *Note: ACV refers to “All Commodity Volume” as measured by IRI *

46 *

Fisher snack nut Strategy Focused on Midwest High Franchise Markets 47 *

48 Fisher snack nuts Growing Pound Share in High Franchise Markets Source: IRI: Ttl Snack Nut Category – Fisher High Franchise Geography –Years Ending 6/29/14 *

Source: Blue Chip Worldwide SPARQ concept research, December 2013 Driving Results on Core Dry Roast Peanut Business • “Oven Roasted, Never Fried” communication drives purchase interest • Elevates taste and healthy snack perceptions • Supported through FSIs, In-Store and via Digital 49 *

Velocity (Pound Sales per Distribution Point) Source: IRI Growing Fisher Almond line • Converted Almond line to 5.5 oz Stand Up Re-sealable bags • Consumer Value Proposition: Better per package price; Re-closeable to seal-in freshness • Result: Increased movement per point of distribution 50 January February March April May June 2014 SUB Data 2013 Can Average Source: IRI Quad Week Data Ending 6/29/14 Multi-Outlet Geography Note: Velocity refers to pounds per point of distribution as measured by IRI *

We are fast adapting to key retailers’ rules on displays… winning again! 51 *

Pure and Simple Goodness 52

Orchard Valley Harvest Brand Equity Pure & Simple Goodness Support a healthy lifestyle Close to the earth 53

Orchard Valley Harvest Delivers 54

Sales Pounds + 9% + 9% Net Sales +16 +16% % Orchard Valley Harvest is a Growing Brand 55 Fiscal 2014 Actual vs. Prior Year

Source: The Hartman Group : Eating Occasions, Compass 2012 The Hartman Group: Reimagining Health and Wellness, 2013 Mini’s and Multi-Packs Tap into “On the Go” Snacking • Snacking accounts for over 53% of all eating occasions in the US • 38% of consumers snack several times per day 56 Grab ‘n Go Mini’s Multi-Packs

FY15 OVH Marketing Support Ibotta Website PR In-Store Merchandising New Packaging 57 Bloggers

Driving Increased Distribution 58 FY13 Driver: FY14 Driver: Source: IRI: Ttl Produce Nut Category – Total US Food Geography–Year Ending 6/29/14 *Note: % ACV refers to % “All Commodity Volume” as measured by IRI *

THANK YOU 59