Branded Spirits Acquisition of Penelope Bourbon
IMPACT OF PLANNED CLOSURE OF THE ATCHISON DISTILLERY
PRO-FORMA RESULTS - DISTILLING SOLUTIONS
MGP
Change
(1)
As
S
%
Year Ended December 31, 2022
Reported (1) Pro-Forma(2)
Brown Goods
(2)
$229,523
$229,523
$-
-%
White Goods
74,510
24,110
(50,400)
(68)
Premium Beverage Alcohol
304,033
253,633
(50,400)
(17)
Industrial Alcohol
46,812
907
(45,905)
(98)
Food Grade Alcohol
350,845
254,540
(96,305)
(27)
Fuel Grade Alcohol
13,681
41
(13,640)
(100)
Distillers Feed and Related Co-Products
40,354
9,477
(30,877)
(77)
Represents actual results of the Company for the year
ended December 31, 2022, as reported in the
Company's Annual Report on Form 10-K for the year
ended December 31, 2022.
Represents the Company's results for the year ended
December 31, 2022 excluding results associated with
the Company's Atchison, Kansas distillery. These are
pro-forma unaudited financial results and are
preliminary. In some circumstances, white goods,
industrial alcohol, fuel grade alcohol, and at times
certain co-products are produced at the Company's
Lawrenceburg, Indiana distillery. The pro-forma
financial results assume the loss of the waste starch
slurry credit and no gain or loss on the disposal. The
results of the Branded Spirits segment for the year
ended December 31, 2022 would not have been
impacted by a closure of the Atchison, Kansas
distillery.
Warehouse Services
23,598
23,598
(3)
Percentage points ("pp").
Sales
$428,478
$287,656 $(140,822)
(33)%
Gross Profit
$126,282
$132,388
$6,106
5%
Gross Margin %
29.5%
46.0%
16.5 pp
(3)
43
Source: Company filings; unauditedView entire presentation