Branded Spirits Acquisition of Penelope Bourbon
MGP
IMPACT OF PLANNED CLOSURE OF THE ATCHISON DISTILLERY
PRO-FORMA RESULTS - CONSOLIDATED
$782,358 $641,536 $(140,822)
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.
(2) Represents actual results of the Company for the
year to date ended September 30, 2023, as reported
in the Company's Quarterly Report on Form 10-Q
for the quarter and year to date ended September 30,
2023.
Change
(1)
(Year Ended 12/31/2022)
Sales
As Reported Pro-Forma(3)
S
%
(18)%
Gross Profit
$253,306
$253,926
$620
Gross Margin %
32.4%
39.6%
7.2 pp
(4)
Change
(Year to Date Ended
9/30/2023)
As Reported (2) Pro-Forma(3)
$
%
$621,635
$534,652
$(86,983)
$219,567
$221,995
$2,428
Gross Margin %
35.3%
41.5%
Sales
Gross Profit
(14)%
1
6.2 pp(4)
(3) Represents the Company's results for the year ended
December 31, 2022 or year to date ended September
30, 2023 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 and the year to date
ended September 30, 2023 would not have been
impacted by a closure of the Atchison, Kansas
distillery.
(4) Percentage points ("pp").
42
Source: Company filings; unauditedView entire presentation