Investor Presentaiton
Q3 2022 Performance
Another strong quarter - marking this our sixth consecutive quarter of year over year sales and adjusted EBITDA growth.
Key highlights include:
Volumes - Increased by 5.6M lbs, or 10.2%, to 60.4 million lbs;
Sales - Increased by $56.9 million, or 26.6%, to $271.2 million;
Gross Profit - Increased by $8.8 million, or 18.4%, to $56.7 million; and
Adjusted EBITDA - Increase by $2.4 million, or 10.7%, to $24.8 million while Adjusted EBITDA as a percentage of sales decreased to
9.1% compared to 10.5%.
Outstanding growth despite unprecedented inflationary headwinds, slowing category dynamics and continued supply
challenges. The Company continued to experience high demand and strong sales in almost all segments and species due to the
reliability of our supply and the versatility of our offerings in both product type and price point.
In October 2022 we further increased our financial capacity and flexibility by expanding our working capital facility from
$150M to $200M, which will help support the continued growth of our business. Additionally, Moody's upgraded our Term B
debt rating validating the significant improvements in our business and financial position over the past few years.
The leverage ratio was 3.2x at the end of Q3 2022 (3.0x at the end of Fiscal 2021) due to investment in working capital to
offset supply chain constraints.
HIGH LINER FOODS
2022 High Liner Foods Incorporated
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