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Prestige Brands Holdings, Inc. NYSE: PBH

Prestige Brands Holdings, Inc. NYSE: PBH. Welcome.

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Prestige Brands Holdings, Inc. NYSE: PBH

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  1. Prestige Brands Holdings, Inc. NYSE: PBH

  2. Welcome Statements in this presentation which are not historical facts, including, without limitation, reporting financial guidance for Fiscal 2010 and beyond, are forward-lookingstatements within the meaning of the Securities Litigation Reform Act of 1995. These forward-looking statements involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from those stated or projected. 2

  3. Management Team Background PBH Operating Model Road Map for Success Agenda

  4. Matt Mannelly • 25+ years in Consumer Products • - Quaker Oats • - Nike • - U.S. Olympic Committee • - Cannondale Bicycle • Focus is on Brand Building • - Cap’N Crunch • - Gatorade • - Cannondale • Big company foundation, small company mentality • - CEO of Cannondale Bicycle Corp., • Chapter 11 turnaround

  5. Matt Mannelly, President, CEO Peter Anderson, CFO David Talbert, SVP Sales Charles Schrank, CMO Jean Boyko, SVP, Science & Technology Lieven Nuyttens, SVP, Operations John Parkinson, SVP, International Charles Jolly, Gen. Counsel & Secretary Cannondale, Nike, Quaker Oats Block Drug, Sara Lee, Sterling Drug JB Williams Block Drug Purdue Pharma, Block Drug McKinsey, Boots, Block Drug Conagra Chattem Drug, Miles Laboratories Senior Management Team Years in Industry CPG Experience • 25+ • 30+ • 30 • 30+ • 30 • 20 • 30 • 30+ Significant Industry Experience Across All Functions

  6. Proven ability to grow niche brands Sales & marketing expertise Outsource key supply chain activities New product pipeline through contract manufacturers and labs Nimble: Small size advantage Acquisition integration FCF generation The PBH Operating Model

  7. The PBH Model Diversified Sales TTM September 30, 2009 Sales: $301.8* ($ in millions) 3.8% 59.3% 36.9% * Excludes Discontinued Operations

  8. The PBH Model Impressive US Customer/Channel Base *DATA AS OF 9/30/09 * Excludes Discontinued Operations

  9. The PBH Model Attractive Margins and Capital Efficiency EBITDA Margin CapEx (% of Sales) Free Cash Flow (% of Sales) Free cash flow = operating cash flow less capital expenditures. Note: Prestige TTM as of 9/30/09. All other companies are as per last annual report filing.

  10. The PBH Model Strong Free Cash Flow • Average annual FCF of $59mm from FY2006 to FY2009 • Relatively stable FCF excluding changes in working capital requirements ($ in millions)

  11. The PBH Model Sound Financial Plan Going Forward • Business model and asset tax shield yield Free Cash Flow substantially higher than net income • Secure liquidity position • $30mm cash reserve in place • Lower level of indebtedness significantly reduces cash interest expense • FCF sufficiently handles any short-term working capital requirements • FCF utilization on debt reduction and business growth opportunities

  12. Road Map for Success • Maximize growth of current brand portfolio through appropriate ongoing support of core brands.

  13. Provide Appropriate “News” for Key Brands Extension Core Brand Max Spray, Green Tea & Liquid Center Lozenges 8 Hour Claim, Tears Saf-T-Pops Packaging Saline Mist Design for Environment

  14. Provide Compelling Support for Core Brands

  15. Continue to Build Brand Equity

  16. Road Map for Success • Combine organic growth and acquisitions to maximize long-term revenue

  17. Past, Present, Future Successful Acquisitions Iconic Brands Refinancing + +

  18. Road Map to Success • Better leverage the organization against International and Canadian business

  19. Leveraging Our Brands Internationally

  20. Improve Organizational Alignmentand External Focus Revenue

  21. Key Points • Experienced management team • Iconic brands: > 70% #1 or #2 in their category • Consistently strong FCF of $50-60 million per year • Renewed focus & appropriate strategy for moving forward

  22. Prestige Brands Holdings, Inc. NYSE: PBH

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