Pro Forma Financials and Market Positioning
Significant Profit-Enhancing Capex Opportunities; Strong FCF Conversion
Capital Expenditures ($ in mm)
New ERP Implementation
■Profit Enhancing
Maintenance
$28.3
$25.0
$10.0
$18.6
$15.0
$15.2
$4.7
$13.1
$8.4
$3.2
$1.8
$5.4
$13.9
$12.1
$11.3
$9.9
$8.6
-$18.3
$10.0
(3)
2017A
2018A
2019A
2020E
2021 E
% of
(1)
2.2%
1.7%
1.6%
2.0%
2.7%
Net Sales
FCF
(2)
79%
84%
87%
85%
81%
Conversion
1). Calculation excludes ERP Implementation capex and is based on Pro Forma Net Sales. See page 40 for reconciliation.
2). Represents (Pro Forma Adjusted EBITDA - Capex) / Pro Forma Adjusted EBITDA. Calculation excludes ERP Implementation capex. See page 40 for reconciliation.
3). Excludes $6.4 million of non-recurring capex primarily related to the rebuild of the company's fire damaged FL plant that was subsequently sold later in the year.
butz
SM
BRANDS
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