Q2'21 Earnings Presentation
Q2 2021 FINANCIALS OVERVIEW
CONTINUED TOPLINE MOMENTUM EXPECTED TO FURTHER ACCELERATE AS CAPACITY INCREASES
ADJ. EBITDA (3)
26.4%
%
Margin
(1.3%)
(21.8%)
REVENUE
GROSS PROFIT
Production
74
106
volume (1)
%
Margin
32.3%
Sales volume (1)
67
95
+53%
(2)
$146
$95
$39
$31
($1)
CAPEX
$89
$25
•
•
Q2 2020A
Q2 2021A
Broad-based growth across all regions
and channels
Fill rate levels remain low across
regions, as expected given ramp up in
production capacity
. The Foodservice channel increased
compared to PY (~33% in Q2'21 vs.
•
~22% in Q2'20 share of total revenue)
Ended Q2 with the highest production
output on record
Q2 2020A
Q2 2021A
Strong demand for our products has
increased our need to rely on co-
packers in the short-term as new
capacity is being built
• Gross margin also impacted by:
-
-
Higher logistics costs
Regional channel and customer
mix
Minor negative effect from foreign
exchange
•
Q2 2020A
($32)
Q2 2021A
Higher Adj. EBITDA loss due to
planned growth investments and new
recurring expenses associated with
being a public company
• Increased global employee headcount
from ~600 to ~1,500 to support
growth
•
Higher branding and marketing
expense
•
Q2 2020A
Q2 2021A
Continued to invest in capacity to
meet the surging demand
• Investments primarily focused on
Ogden, UT, Maanshan, China,
Singapore, SG and Peterborough, UK
facilities
Notes: USD in millions
1. Million litres of finished goods.
2. The benefit to revenue from foreign exchange impact was $10.2 millions.
3. Adjusted EBITDA and adjusted EBITDA margin are non-IFRS measures. See the Appendix to this presentation for a reconciliation
to the nearest IFRS measure.
THE ORIGINAL
●ATLY!
Q2'21 EARNINGS PRESENTATION
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