Sawubona. Igama lami nginguPam futhi ngizoba umqhubi wenkomfa yakho namuhla. Okwamanje, ngingathanda ukwamukela wonke umuntu ocingweni lwenkomfa lwe-Primo Water Corporation lwe-Q3 2022. Yonke imigqa ivaliwe ukuvimbela noma yimuphi umsindo wangemuva. Izikhulumi zizolandelwa iseshini yemibuzo nezimpendulo. [Imiyalelo yomqhubi] Ngiyabonga.
Manje ngingathanda ukunikeza uMnu. John Kathol, iPhini likaMongameli wezobudlelwano nabatshalizimali ithuba. Ngicela uqhubeke.
Siyakwamukela ocingweni lwenkomfa lwe-Primo Water Corporation lwekota yesithathu ka-2022. Onke amalungu okwamanje akwimodi yokulalela kuphela. Lolu cingo luzophela kungakapheli u-11:00 AM ET. Ucingo lwengqungquthela luzosakazwa bukhoma kuwebhusayithi ye-Primo ku-www.primowatercorp.com futhi luzohlala lapho amasonto amabili. Lolu cingo lwengqungquthela luqukethe izitatimende ezibheke phambili, okuhlanganisa izitatimende mayelana nemiphumela yezezimali kanye nokusebenza yenkampani yesikhathi esizayo. Lezi zitatimende kufanele ziqhathaniswe nezitatimende zesixwayiso kanye nezitatimende zokuzikhulula eziqukethwe ku-Safe Harbor Statement esitatimendeni sabezindaba se-P&L sanamuhla ekuseni kanye nezitatimende zesixwayiso embikweni wonyaka wenkampani we-Form 10-K kanye nemibiko yekota ye-Form 10. -Q kanye neminye imibhalo yesibambiso. Abalawuli Sicela nicabangele lokhu kanye nesitatimende. Imiphumela yangempela yenkampani ingahluka kakhulu kulezi zitatimende, futhi inkampani ayibophekile ukubuyekeza lezi zitatimende ezibheke phambili, ngaphandle kwalapho kudingeka khona ngokusobala ngumthetho osebenzayo.
Ukuhlanganiswa kwanoma yiziphi izilinganiso zezimali ezingezona eze-GAAP okuxoxwe ngazo ngesikhathi socingo lwengqungquthela nezilinganiso ze-GAAP ezifanayo kakhulu, lapho idatha ingalinganiswa, kufakiwe embikweni wenzuzo yekota yesithathu yenkampani ekuseni noma esigabeni soBudlelwane nabatshalizimali. » iwebhusayithi yenkampani www.primowatercorp.com. Mina nginguTom Harrington, i-CEO yePrimo, kanye noJay Wells, i-CFO yePrimo. Njengengxenye yalolu cingo lwengqungquthela, sinikeza ipulatifomu eku-inthanethi ku-www.primowatercorp.com ukukusiza ezingxoxweni zethu. UTom uzoqala ucingo lwanamuhla ngokubuka konke kwekota yesithathu kanye nentuthuko yethu ohlelweni lwesu lwePrimo. UJay uzobuyekeza ukusebenza kwesigaba sethu, bese sixoxa ngokusebenza kwethu kwekota yesithathu ngemininingwane eminingi bese sinikeza umbono wethu ngekota yesine kanye nonyaka ogcwele ka-2022 ngaphambi kokubuyisela ucingo kuTom ukuze anikeze umbono wesikhathi eside ngaphambi kwemibuzo nezimpendulo. UJay uzobuyekeza ukusebenza kwethu kwesigaba sesithathu, bese sixoxa ngokusebenza kwethu kwekota ngemininingwane eminingi bese sinikeza umbono wethu ngekota yesine kanye nonyaka ogcwele ka-2022 ngaphambi kokubuyisela ucingo kuTom ukuze anikeze umbono wesikhathi eside ngaphambi kwemibuzo nezimpendulo. UJay uzobe esehlaziya ukusebenza kwesigaba sethu bese sixoxa ngemiphumela yethu yekota yesithathu ngokuningiliziwe bese sinikeza isiqondiso sethu sekota yesine kanye nonyaka wonke ka-2022 ngaphambi kokushayela uTom ucingo ukuze anikeze umbono wesikhathi eside ngaphambi kokuphendula imibuzo. UJay uzobe esehlaziya ukusebenza kwesigaba sethu bese sixoxa ngemiphumela yethu yekota yesithathu ngokuningiliziwe futhi sinikeze isiqondiso sethu sekota yesine kanye nonyaka wonke ka-2022 ngaphambi kokushayela uTom ucingo ukuze aphendule imibuzo nezimpendulo. okunikezwe ngaphambilini.
Ngiyabonga John futhi sawubona nonke ekuseni. Ngiyajabula ngemiphumela yekota futhi ngibonga bonke abasebenzi bePrimo ngokuqhubeka kwabo nokufaka isandla empumelelweni yenkampani. Ngokukhethekile, ngithanda ukukhuluma ngeSikhulu sethu Esiphezulu Sezezimali uJay Wells, owamemezela umhlalaphansi wakhe ngomhlaka-1 kuMbasa. Ngibonga uJay ngokuzinikela kwakhe kanye neminikelo ebalulekile ngesikhathi sakhe ePrimo. UPrimo unethimba lezezimali eliqinile futhi uJay ube nesandla ekuthuthukiseni ukusebenza kwezezimali nokusebenza. Ngiyabonga kakhulu ukuthi uJay uzohlala noPrimo kuze kube yilapho ethatha umhlalaphansi ukuze kube lula ukushintsha kobuholi okubushelelezi futhi ngimfisela konke okuhle ngesikhathi somhlalaphansi. Ngiyabonga Jay. Siqhubekile nokusebenza epulatifomu yethu ehlukile ye-Water Your Way, futhi naphezu kokwehla kwamandla emali okucishe kube yirekhodi, sinikeze imali engenayo eqinile yemvelo kanye nokukhula kwe-EBITDA okulungisiwe kwikota yesithathu. Ifilosofi yethu yokutshalwa kwezimali isalokhu iqinile ngephothifoliyo yezixazululo zamanzi ezithuthukisiwe kuzo zonke iziteshi nezindawo eziningi, izivunguvungu zabathengi ezinamandla kanye nesisekelo semali engenayo esimelana nokwehla komnotho. Ukutshalwa kwezimali okuqhubekayo epulatifomu yethu yedijithali, ukwandisa ikhono lokuxhumanisa ukuthengiswa kwamanzi abandayo nezixazululo zethu zamanzi, kanye nokwenza ngcono imisebenzi yethu esekelwe emizileni kunikeza isisekelo esiqinile sokufeza imigomo yethu yokukhula kwesikhathi eside.
Kwikota yesithathu, sinikeze imali engenayo enamandla futhi salungisa ukukhula kwe-EBITDA. Ngenxa yalokho, sinyuse isibikezelo sethu semali engenayo sonyaka wonke ka-2022 saya ku-$2.22-2.24 billion, okuhambisana nokukhula kwemali engenayo okujwayelekile kusuka ku-13% kuya ku-14%. Imali engenayo yemvelo ikhule ngo-14-15% kanti i-EBITDA elungisiwe isukela ku-$415 million yaya ku-$425 million. Imali engenayo ehlanganisiwe ikhuphuke ngo-6% yaya ku-$585 million kwikota yesithathu. Ukukhula kwemali engenayo yemvelo ngo-15%. Ngaphandle komthelela wokushintshaniswa kwemali yangaphandle kanye nokuphuma kwebhizinisi lamanzi asetshenziswa kanye kuphela eNyakatho Melika, imali engenayo ikhule ngo-18% ngenxa yokufunwa kwabathengi okuqhubekayo, ukwanda kokuthengiswa kwemishini yokusabalalisa, ukuthengwa okuqhubekayo kwe-M&A, izilinganiso zesevisi ezithuthukisiwe, ukwanda kwemali engenayo ngomzila ngamunye kanye nokwanda kwe-OTIF noma ukulethwa ngesikhathi kanye nokusebenza ngokugcwele, ukukhula okuqhubekayo kwevolumu ku-Water Direct kanye ne-Exchange kanye nesisekelo samakhasimende esizinzile kanye nokugcwalisa kabusha kanye nokuhlangenwe nakho kwamakhasimende okuthuthukisiwe, kufaka phakathi izinzuzo ezivela kuhlelo lwethu lokusebenza lweselula olubuyekeziwe. Ngaphandle komthelela wokushintshaniswa kwemali yangaphandle kanye nokuphuma kwebhizinisi lamanzi asetshenziswa kanye kuphela eNyakatho Melika, imali engenayo ikhule ngo-18% ngenxa yokufunwa kwabathengi okuqhubekayo, ukwanda kokuthengiswa kwemishini yokusabalalisa, ukuthengwa okuqhubekayo kwe-M&A, izilinganiso zesevisi ezithuthukisiwe, ukwanda kwemali engenayo ngomzila ngamunye kanye nokwanda kwe-OTIF noma ukulethwa ngesikhathi kanye nokusebenza ngokugcwele, ukukhula okuqhubekayo kwevolumu ku-Water Direct kanye ne-Exchange kanye nesisekelo samakhasimende esizinzile kanye nokugcwalisa kabusha kanye nokuhlangenwe nakho kwamakhasimende okuthuthukisiwe, kufaka phakathi izinzuzo ezivela kuhlelo lwethu lokusebenza lweselula olubuyekeziwe. Ngaphandle kwemiphumela yemali kanye nokuphuma ebhizinisini lamanzi asetshenziswayo asemabhodleleni eNyakatho Melika, imali engenayo ikhule ngo-18% ngenxa yokuqhubeka kwesidingo sabathengi, ukwanda kokuthengiswa kwemishini yokusabalalisa, izivumelwano ze-M&A eziqhubekayo, ukusebenza kwendawo okuthuthukisiwe, imikhiqizo yokukhula kwamayunithi. kanye nokwanda kwe-OTIF noma ukulethwa ngesikhathi kanye nokuphelele, ukukhula okuqhubekayo kwevolumu ku-Water Direct and Exchange, kanye nesisekelo samakhasimende esizinzile kanye nokugcwaliswa kabusha, kanye nokuhlangenwe nakho kwamakhasimende okuthuthukisiwe, okuhlanganisa nezinzuzo zohlelo lwethu lokusebenza lweselula olubuyekeziwe. Ngaphandle kwemiphumela yokushintshaniswa kwemali yangaphandle kanye nokuphuma ebhizinisini lamanzi asetshenziswayo asemabhodleleni eNyakatho Melika, imali engenayo ikhuphuke ngo-18% ngenxa yesidingo sabathengi esiqhubekayo, ukuthengiswa okwandisiwe kwabasabalalisi bamanzi, ukuhlanganiswa okuqhubekayo nokuthengwa, irekhodi lenkonzo elithuthukisiwe, imali engenayo ekhuphuke evela ku-OTIF noma i-On-Time. kanye nokusebenza kokulethwa okugcwele, ukukhula okuqhubekayo kwe-Water Direct and Exchange, isisekelo samakhasimende esizinzile kanye nokugcwaliswa kabusha, kanye nolwazi lwamakhasimende oluthuthukisiwe, okuhlanganisa nezinzuzo zohlelo lwethu lokusebenza lweselula oluvuselelwe.
I-EBITDA elungisiwe ikhuphuke ngo-10% yaya ku-$117 million kwikota yesithathu njengoba amanani aphezulu, amanani aphezulu kanye nokuphathwa kwezindleko okuphumelelayo kungaphezu kokunciphisa umthelela wokwehla kwamandla emali. Isilinganiso se-EBITDA esilungisiwe kwikota sasingu-20%, sikhuphuke ngamaphuzu angu-80 ngonyaka. Ebhizinisini le-Global Water Direct, isisekelo samakhasimende ethu sakhula saya cishe ezigidini ezingu-2.3 kwikota yesithathu. Ngokuhlanganisa ukungena kwamakhasimende angokwemvelo, ukuthengwa kwamakhasimende, kanye nesu lethu lokuhlanganisa, ukukhula kwaba ngu-3.6% unyaka nonyaka, kuyilapho ukugcinwa kwamakhasimende kwakungashintshi kumakota adlule. Izigaba zethu ze-Water Direct kanye ne-Exchange ziqhubekile nokukhula okunamandla kwemali engenayo, ngokukhula kwemali engenayo engokwemvelo okungu-17% okuqhutshwa ukwaneliseka kwamakhasimende okuthuthukisiwe, ukwanda kwemvamisa yokulethwa kanye namazinga aphezulu esitokweni. Sizuze ekwandeni kwenani lamaphuzu okushintshana ngamanzi ekupheleni kwekota yesithathu kanye nokuxhumana okuthuthukisiwe phakathi kokushintshana kwamanzi kanye nokuthengiswa kwe-dispenser.
Ibhizinisi lethu lokuzalisa amanzi nokuhlunga liqhubekile nokusebenza kangcono. Imali engenayo yemvelo ikhuphuke ngo-11% ngenxa yamanani aphezulu emishini yasegadini, ukwanda kwesikhathi sokusebenza komshini kanye namazinga aphezulu ezinsizakalo zokuhlunga amanzi. Izitayela zamakhasimende zihlala zinhle maqondana nokuguquguquka kwentengo. Kuncane kakhulu ukubuyekezwa kwamakhasimende okuhlotshaniswa namanani aphezulu njengoba silandelela lokhu ngokuhlanganiswa kwezilinganiso ezifana nomsebenzi wesikhungo socingo, ukugcinwa kwamakhasimende kanye nokukhula kwamakhasimende. Ibhizinisi lethu lokupholisa amanzi liqhubekile nokuthuthuka kwikota yesithathu, ngenzuzo ekhuphuke ngo-47% kanye nabathengisi abathengisa ama-water cooler angaphezu kuka-270,000. Siyaqhubeka nokubona ukukhula kwevolumu okuqhutshwa ukwanda komsebenzi wokukhangisa, ukusatshalaliswa komkhiqizo kanye nokungena kumakhasimende ethu akhona. Sihlanganisa amakhuphoni e-Primo Water nokuthengisa kwethu kwama-water cooler ukuze sikhuthaze ukuthengiswa kwama-water cooler ahlobene nensizakalo yamanzi, okuyisihluthulelo sokukhula kwe-organic esikhathini esizayo.
Ngokuphathelene nezindawo zokuhambisa amanzi, i-US Customs and Border Protection muva nje ishintshe izindawo zokuhambisa amanzi ashisayo nabandayo kanye nezindawo zokuhambisa amanzi ahlungiwe. Kusukela ngoNovemba 6, 2022, izindawo zokuhambisa amanzi kanye nezihlungi ngeke zisakhokhiswa intela engu-25%, kodwa zizokhokhiswa intela engu-2.7%. Lokhu kwehliswa kwentengo kusebenza eningini elikhulu lemikhiqizo engenisiwe ye-Primo futhi kuzosivumela ukuthi silungise intengo yokuthengisa emaphakathi yezindawo zethu zokuhambisa amanzi ezithengiswa kumakhasimende okuthengisa kanye nokuhweba nge-e-commerce. Silindele ukwanda kwenani lokuxhumeka kwamanzi ukuze kusheshiswe ukuthengiswa kwama-heater amanzi ngezindleko eziphansi zezimpahla kanye nokwehliswa kwentengo okulandelayo. Izindleko zezimpahla zizokwehla ngo-2023 njengoba impahla entsha ihamba ngochungechunge lokunikezela. Sizozuza ezindlekweni eziphansi zemali ezihlobene nezindawo zokuhambisa amanzi eziqashiswe kumakhasimende esigabeni sethu sokunikeza amanzi ngqo kanye nokuhlunga amanzi.
Ngokuphathelene nezinombolo, siyajabula ngentuthuko eyenziwe ekutshalweni kwezimali kwethu kuhlelo lokusebenza lweselula lwe-My Water+, okwamanje olunesilinganiso esingu-4.9 kumapulatifomu e-iOS ne-Android, umphumela oqondile wokubuyekezwa kwethu kwakamuva. Kusukela ekupheleni kuka-2021, idumela lethu le-Google Online likhuphuke ngo-63% kanti i-Google My Business yethu ikhuphuke ngo-46%. Lezi zilinganiso ziyintuthuko enkulu kunezinkathi ezedlule futhi ziqinisa ukuzethemba kwethu ezinhlelweni zethu zokuzibandakanya kwedijithali namakhasimende. Sizoqhubeka nokutshala imali ekuhlinzekeni amakhasimende ethu ngezixazululo zedijithali ezisezingeni eliphezulu. Manje njengoba sesiphinde sasebenzisa ipulatifomu enkulu yesayithi lethu le-e-commerce ledijithali, manje sizogxila ekwakheni kabusha iwebhusayithi yethu ye-water.com ukuze sithuthukise ukusebenza kwayo ngokuhlanganiswa kwezinsizakusebenza zangaphakathi nezangaphandle. Bheka amaslayidi 9 no-10 ku-Supplementary Materials ukuze uthole imininingwane eyengeziwe.
Ngo-2022, njengezinye izinkampani eziningi, sizobhekana nokwenyuka okukhulu kwezindleko zabasebenzi, uphethiloli, izimpahla kanye nezinye izindleko zokusebenza, ezancishiswa ngokuphelele yizenzo zethu zamanani kwikota yesithathu. Ithimba le-Primo lenze umsebenzi omuhle kakhulu wokunciphisa lokhu kwanda ngokuqhubeka nokuthuthukisa ulwazi lwamakhasimende. Njengoba kuxoxiwe kwikota edlule, ithuluzi lokwenza ngcono imizila ezenzakalelayo laseNyakatho Melika, i-ARO, lihlela imizila ibe yimizila esebenza kahle kakhulu, ngaleyo ndlela likhulise isikhathi esichithwa ngabameleli bokuthengisa imizila namakhasimende, landise imali engenayo ekhiqizwe ngesikhathi sekhomishini yemizila, likhulule amandla okucubungula imizila ukuze kukhule okungokwemvelo esikhathini esizayo kanye nokunciphisa isikhathi esichithwa sishayela. I-ARO isalokhu iyisinyathelo esibalulekile sokusebenza. Isibonelo, ngoSepthemba besisebenzisa imizila engu-23 eyengeziwe ngosuku kunango-Agasti, kungekho ukwanda kwamamayela aphelele aqhutshwayo, umphumela oqondile womsebenzi onzima wethimba lokuqalisa.
Ngaphezu kwalokho, imali engenayo yonyaka ngesayithi eNyakatho Melika ikhuphuke cishe ngo-22% unyaka nonyaka. Le mizamo iyingxenye ebalulekile yokunciphisa izindleko ezikhuphukayo ngenkathi ithuthukisa ukusebenza kahle kanye nensizakalo yamakhasimende, futhi isivumela ukuthi sandise imvamisa yokulethwa ukuze sisekele imizamo yethu yokukhulisa ibhizinisi lethu lokushintshanisa amanzi. Kusukela manje, sikhetha abeluleki bangaphandle ukusekela i-algorithm yethu yokukhula nokuthuthukisa ukusebenza kahle kwepulatifomu yethu esekelwe emzileni. Ngonyaka wonke ka-2022, imali engenayo kulindeleke ukuthi ikhuphuke isuka ku-$2.22 billion iye ku-$2.24 billion, ngesilinganiso sokukhula kwemali engenayo esijwayelekile esingu-13% kuya ku-14%, esilungisiwe ukuze kuphume ebhizinisini lokuthengisa amanzi alahlwayo eNyakatho Melika. Silindele ukuthi i-EBITDA elungisiwe yonyaka ka-2022 ibe phakathi kuka-$415 million kuya ku-$425 million.
Sinikezwe inkontileka yeminyaka emihlanu yokuba ngumhlinzeki wamanzi asemabhodleleni we-Costco ngqo kubathengi nakumalungu ezinkampani. Lokhu kwanda komsebenzi kanye nokwanda kwezindawo zokufaka amanzi esikhundleni samanzi kusekela isibikezelo sethu sokukhula kwemvelo kuze kube ngu-2024. Sinebhalansi eqinile, izinzuzo eziqinile futhi sisendleleni eya ekukhuleni kwemali engenayo yesikhathi eside kanye nenzuzo. Sigcina isiqondiso sethu semali engenayo sika-2024 ngokukhula kwemali engenayo yemvelo okuqinile kwenombolo eyodwa yonyaka futhi siphakamisa isiqondiso sethu se-Adjusted EBITDA sika-2024 sibe cishe amaRandi ayizigidi ezingu-530, kanye ne-Adjusted EBITDA engaba ngu-21%.
Ngokusekelwe ekusebenzeni kwethu ekuthuthukisweni kokusebenza, kwedijithali kanye namakhasimende, sizonciphisa ukutshalwa kwezimali kwethu okuqhubekayo kusuka ku-$150 million kuya ku-$110 million phakathi kuka-2022 no-2024. Ngokukhethekile, lokhu kuwukwehla kusuka ku-$50 million ngo-2023 nango-2024 kuya cishe ku-$30 million ngo-2023 nango-2024. Lesi sinqumo sisekelwe ekwethembeni kwethu ekusebenzeni kwethu, okusivumela ukuthi sinciphise ukutshalwa kwezimali kwethu ngenkathi sisahlangabezana nesiqondiso sethu sika-2024. Ekuphetheni, ake ngiphinde ngiphinde ngithi isu lethu liyasebenza. Siyaqiniseka ngekhono lethu lokuhlangabezana nokubikezela kwethu kuka-2022 kanye nokufeza ukubikezela kwethu kwesikhathi eside kuka-2024.
Manje ngizodlulisela kuMphathi Wezezimali wethu uJay Wells ukuze abukeze kabanzi imiphumela yethu yezezimali yekota yesithathu.
Ngiyabonga Tom futhi sawubona nonke ekuseni. Ake siqale ngemiphumela yekota yesithathu. Imali engenayo ehlanganisiwe ikhuphuke ngo-6% yaya ku-$585 million isuka ku-$551 million. Imali engenayo ehlanganisiwe yemvelo, engabandakanyi imiphumela yokushintshaniswa kwemali yangaphandle futhi elungiswe ukuvalwa kwebhizinisi lokuthengisa amanzi alahlwayo eNyakatho Melika, ikhuphuke ngo-15% kule kota. I-EBITDA elungisiwe ikhuphuke ngamaphesenti ayi-10 yaya ku-$117 million. I-EBITDA engena-FX, elungisiwe ikhuphuke ngo-14%, okumele ukwanda kwamaphuzu angama-80 esisekelo senzuzo. Njengoba uTom eshilo, umthelela wokunyuka kwamanani, ukwanda kwevolumu kanye nesidingo esikhulu kuholele ekwandeni kwenzuzo.
Phakathi nekota, sigcine amazinga ethu okusebenza abasebenzi futhi sathola okungaphezu kuka-98% kokuthengiswa kodokotela ngokulethwa kwemizila. Sikholelwa ukuthi ukutshalwa kwezimali okwengeziwe kubantu bethu kanye nokusetshenziswa kwamamodeli ethu okusebenza okubikezelayo kuzosenza sikwazi ukufeza imigomo yethu yango-2022 nangale kwalokho.
Ngokuphathelene nokusebenza kwesigaba sethu kule kota, imali engenayo eNyakatho Melika ikhuphuke isuka ku-$413 million yaya ku-$407 million.
Imali engenayo yezinto eziphilayo ikhuphuke ngo-18%. Ukukhula kwezinto eziphilayo kuqhutshwe ukukhula kwezinto eziphilayo okungu-17% ezigabeni ze-Water Direct kanye ne-Water Exchange, okuhlanganisa ukuxubana kwamanani okungu-11% kanye nokukhula komthamo okungu-6%.
Esigabeni sethu saseYurophu, imali engenayo inyuke ngo-6% yaya ku-$71 million. Imali engenayo yemvelo ikhule ngo-15% ngaphandle kwemiphumela yokushintshaniswa kwemali yangaphandle, eqhutshwa yibhizinisi lethu le-Water Direct, ukukhula kwesisekelo samakhasimende ethu emakhaya kanye namanani e-B2B njengoba abantu baseYurophu bebuyela ehhovisi.
I-EBITDA elungisiwe eYurophu inyuke ngamaphesenti angu-8 yaya ku-$16 million. Ngaphandle kwemiphumela yokushintshaniswa kwemali yangaphandle, i-EBITDA elungisiwe inyuke ngo-29%.
Ngokuphathelene nesiqondiso sethu sekota yesine kanye nonyaka wonke, ngokusekelwe olwazini esinalo kuze kube manje, silindele ukuthi imali engenayo ehlanganisiwe yekota yesine evela emisebenzini eqhubekayo ibe phakathi kuka-$540 million kuya ku-$560 million, ikota yethu yesine ye-EBITDA elungisiwe izoqala ku-$102 million kuya ku-$112 million.
Imali engenayo yonyaka wonke ka-2022 kulindeleke ukuthi ibe phezulu kancane kunalokho okwakubikezelwe ngaphambili, kusukela ku-$2.22 billion kuya ku-$2.24 billion, kanye nokukhula kwemali engenayo okujwayelekile okungu-13% kuya ku-14%, okulungisiwe ukuze kuphume eNorthern Disposable Bottled Water Retail. Ibhizinisi lase-US
Siyaqhubeka nokulindela ukuthi i-Adjusted EBITDA yonyaka ka-2022 izoba phakathi kuka-$415 million kuya ku-$425 million. Silindele ukuthi intela yemali ibe cishe u-$10 million, izindleko zenzalo zibe cishe u-$60 million kanye nezindleko ezinkulu zibe cishe u-$200 million.
Imiphumela yethu ka-2022 iqinisa ukuzethemba kwethu emandleni ethu okuletha ukukhula kwemali engenayo ephilayo njalo. Sigcina amathuba ethu okukhula okungokwemvelo, muva nje sithole izindawo ezintsha zokusabalalisa ebhizinisini lethu le-Exchange, ukwanda kwendawo kwemicimbi yethu yesitolo se-Costco kuholele ekwandeni okukhulu eNyakatho Melika nasebhizinisini lethu le-Water Direct, futhi inani lemicimbi yethu lithuthukise ukusebenza kwebhizinisi lethu le-Refill. . Le mpumelelo ingumphumela wokuzibophezela kwethu ekuthuthukiseni ulwazi lwamakhasimende ngokuthuthukiswa kwezinsizakalo kanye nokutshalwa kwezimali kubuchwepheshe bedijithali.
Sigcina isiqondiso sethu semali engenayo sika-2024 ngokukhula okuqinile kwemali engenayo yonyaka enenombolo eyodwa futhi siphakamisa isiqondiso sethu se-Adjusted EBITDA sika-2024 sibe cishe amaRandi ayizigidi ezingu-530. Ngo-2022, njengezinye izinkampani eziningi, sizobhekana nokwenyuka okukhulu kwezindleko zabasebenzi uphethiloli, izimpahla kanye nezinye izindleko zokusebenza, kodwa siphumelele ekuqedeni lokhu ngezinhlelo zamanani kanye nokusebenza kahle. Ngenkathi siphumelele ekuqedeni lezi zindleko ngamanani aphezulu ukuze siqede imiphumela emibi yokwehla kwamandla emali, lokhu kuthinte imajini yethu ye-EBITDA elungisiwe njengoba ukwanda kwemali engenayo evela kule ntengo kwakungaphezu kokwehliswa yizindleko eziphakeme. Imajini yethu ye-Adjusted EBITDA ka-2024 kulindeleke ukuthi ibe cishe ngu-21%, uma kucatshangelwa umthelela wentengo yethu eyengeziwe elungisiwe yokwehla kwamandla emali.
Ngaphambilini samemezela inhloso yethu yokutshala imali eyengeziwe engu-$150 million ezindlekweni zezimali ukusekela ukukhula kwe-organic topline kanye nokwandisa umkhawulo wethu we-EBITDA olungisiwe. Sinqume ukunciphisa lokhu kutshalwa kwezimali okwengeziwe kusuka ku-$50 million ngonyaka kuya cishe ku-$30 million ngonyaka phakathi kuka-2023 no-2024.
Uma sibuyela emuva ku-capex yethu ejwayelekile ka-2025 ecishe ibe ngu-7% wemali engenayo. Njengoba uTom eshilo, lesi sinqumo sasisekelwe ekwethembeni kwethu izinombolo zethu zokusebenza, okwasivumela ukuthi sinciphise ukutshalwa kwezimali kwethu ngenkathi sisahlangabezana nesiqondiso sethu sika-2024. Njengoba sishilo kwikota edlule, sihlola ukuthengiswa kwezindawo eziningana eCalifornia eziye zathola ukwanda okukhulu. Izinga lenzalo lisaphezulu futhi sisebenzisana nababambiqhaza ukuze siqhubekisele phambili inqubo.
Ngaphezu kwalokho, sisagxile ekunciphiseni amandla okusebenzisa imali abe ngaphansi kuka-3x ngo-2023 nangaphansi kuka-2.5x ekupheleni kuka-2024. Njengesikhumbuzo, ukuvuthwa kwezikweletu zethu zamanje kungo-2027 nango-2028, ngakho-ke okwamanje asiphoqelekile ukuxhasa kabusha noma yiziphi izikweletu zethu futhi sanelisekile ngesakhiwo sezikweletu samanje.
Umbono wethu ngo-2024 usekela uhlelo lwethu lokukhulisa inzuzo oluhleliwe lweminyaka eminingi oluzokwengeza amaRandi ayizigidi ezingama-36 kubanikazi bamasheya ngo-2024, kanye nohlelo lokubuyisela amasheya olusebenzisa amathuba o-$100 million olwamenyezelwa kwikota edlule. Lokhu kusekelwe ohlelweni lwethu lokutshalwa kwezimali olwengeziwe olwamenyezelwa ngaphambilini ukuze kuthuthukiswe imali engenayo kanye nokukhula kwenzuzo.
Ngo-Agasti 9, 2022, ibhodi yethu yabaqondisi igunyaze uhlelo lokuthenga kabusha amasheya olusebenzisa amathuba o-$100 million olwaqala ngo-Agasti 15. Phakathi nekota, sithenge amasheya angaba ngu-800,000 cishe ngezigidi ezingu-11 zamaRandi. Uhlelo lokuthenga kabusha lubonisa ukuzethemba kweBhodi ekusebenzeni kwethu kwesikhathi esizayo kanye nokukhiqizwa kwemali okuqhubekayo kwesikhathi eside, futhi lubonisa ukuzibophezela kwethu okuqhubekayo ekudaleni inani eliyisisekelo labanikazi bamasheya bethu. Izolo ibhodi yethu yabaqondisi igunyaze inzuzo yekota engu-$0.07 ngesabelo esivamile - umbono wethu wokukhula ungaxhasa ukukhula kwethu kanye nokwenyuka kwenzuzo yonyaka. Njengesikhumbuzo, uhlelo lwethu lwenzuzo yeminyaka eminingi luhlanganisa ukwenyuka kwenzuzo yekota engu-$0.01/isabelo ngo-2022, 2023, kanye no-2024.
Ukwenyuka kwenzuzo kuzobuyisela imali engaphezu kwezigidi eziyisithupha zamaRandi kubanikazi bamasheya ngo-2022 kanye nezigidi ezingama-36 zamaRandi ekupheleni kuka-2024. Indawo esele yokusetshenziswa kwemali ihlanganisa i-M&A yethu yokuxhasa nokusiza. Ukwenyuka kwenzuzo kuzobuyisela imali engaphezu kwezigidi eziyisithupha zamaRandi kubanikazi bamasheya ngo-2022 kanye nezigidi ezingama-36 zamaRandi ekupheleni kuka-2024. Indawo esele yokusetshenziswa kwemali ifaka phakathi i-M&A yethu yokuxhasa nokusiza. Ukwenyuka kwesabelo kuzobuyisela imali engaphezu kwezigidi eziyisithupha zamaRandi kubanikazi bamasheya ngo-2022 kanye nezigidi ezingama-36 zamaRandi ekupheleni kuka-2024. Indawo esele yokwabiwa kwemali ihlanganisa ukuhlanganiswa kwethu kanye nokuthengwa kwezinkampani. Ukwenyuka kwesabelo kuzobuyisela imali engaphezu kwezigidi eziyisithupha zamaRandi kubanikazi bamasheya ngo-2022 kanye nezigidi ezingama-36 zamaRandi ekupheleni kuka-2024. Ezinye izindawo zokwabiwa kwemali zihlanganisa ukuhlanganiswa kwethu kanye nokuthengwa kwezinkampani. Ngo-2022, silindele ukuthi sibe sesisondele ekugcineni okuphansi komgomo wethu wezigidi ezingama-40-60 zamaRandi. Ngidlulisela ucingo kuTom manje.
Ngiyabonga Jay. Sanelisekile ngonyaka odlule futhi sibheke ikusasa ngethemba. Sicabanga ukuthi i-thesis yokutshalwa kwezimali ye-Primo Water iyahambisana. Siyiplatifomu yabathengi bamanzi ahlanzekile evulekile ngokuphelele yemikhiqizo kazwelonke neyendawo eNyakatho Melika naseYurophu, isisekelo semali engenayo esingabikezelwa esimelana nokwehla komnotho lapho sihlangana khona nabathengi basekhaya nabathengisi kanye nabantu abadumile abakhangayo. Umgomo wokukhula kwemvelo, ngokuthengiswa kwemishini yokusabalalisa amanzi exhunywe kwenye yezinsizakalo zethu zamanzi, umshayeli oyinhloko wokukhula kwemvelo kwesikhathi esizayo. Njengengxenye yezinhlelo zethu ezibanzi ze-ESG, siyaqhubeka nokugxila ekuhlangabezaneni nezinhloso zethu zokonga amanzi ngo-2030, sisekelwa yizici eziningana ezivumelayo njengokwanda kokuqwashisa kwabathengi ngempilo nenhlalakahle kanye nengqalasizinda yamanzi egugayo.
Ngifuna ukugcizelela ukuthi sesibe yibhizinisi elinamandla nelinomnotho kakhulu kunanini ngaphambili. Eminyakeni embalwa edlule, senze intuthuko enkulu ngokugxila emakhonweni ethu ayisisekelo njengenkampani yamanzi ahlanzekile. Kubalulekile ukuqonda ukuthi siyinkampani ehlukile namuhla, okuwumphumela oqondile wesinqumo sethu samasu sokuphuma ebhizinisini leziphuzo ezibandayo nekhofi bese sithola amabhizinisi endabuko asezingeni eliphezulu.
Ngenxa yalokho, sinebhalansi eqinile, amathuba okukhula kwesikhathi eside aqinile kanye nemingcele ekhangayo kakhulu, ekhuphuke yafika ku-20% kwikota edlule. Naphezu kokuguquguquka kwesizini kwemingcele ye-Adjusted EBITDA, sibheka lokhu njengesinyathelo esibalulekile ekufinyeleleni umgomo wethu wemingcele ye-Adjusted EBITDA ka-2024.
Amathemba ethu esikhathi eside okukhula kwemali engenayo yemvelo aqinile. Sihlala siqiniseka ngombono wethu ka-2024 njengoba sibikezela ukukhula kwemali engenayo yemvelo okuqinile kwenombolo eyodwa yonyaka kanye nesiqondiso sethu esibuyekeziwe sika-2024 siphakamisa i-EBITDA elungisiwe ibe cishe yizigidi ezingama-530 zamaRandi ngokusekelwe ekusebenzeni kwethu okuqinile ngo-2022, imajini elungisiwe i-EBITDA icishe ibe ngu-21%, i-EPS elungisiwe iphakathi kuka-$1.10 no-$1.20, i-net leverage ingaphansi kuka-2.5x, kanti i-ROIC ingaphezu kuka-12%.
Uma sibheka phambili, njengoba siqhubeka nokusebenzisa ipulatifomu yethu yamanzi ehlukile futhi sigxila ezintweni ezimbalwa ezibalulekile, sizosebenzisa imodeli yethu yamanzi ahlanzekile ukwandisa imali engenayo evamile kusuka ku-$540 million kuya ku-$560 million kwikota yesine. Sizoba nokukhula kwemali engenayo yemvelo okungu-14% kuya ku-15%. Siyaqhubeka nokusebenzisa imodeli yethu ye-razor/razor blade, kanye nokukhula kwenani labasabalalisi abathengiswayo okukhuthaza ukukhula kwemali engenayo kanye nokuxhumana okuzuzisayo kokukhula kwemali engenayo. Ithimba le-Primo liyaqhubeka nokuletha imiphumela.
Ngithanda futhi ukubonga abasebenzi basePrimo Water kulo lonke inkampani ngemizamo yabo engakhathali yokukhonza amakhasimende ethu. Ngalokho, ngizobuyisela ucingo kuJon ukuze ngibuze imibuzo nezimpendulo. Ngalokho, ngizobuyisela ucingo kuJon ukuze ngibuze imibuzo nezimpendulo. Ngalokho, ngidlulisela ucingo kuJohn ukuze ngithole imibuzo nezimpendulo. Ngalokho, ngidlulisela ucingo kuJohn ukuze ngithole imibuzo nezimpendulo.
Ngiyabonga, Tom. Ngesikhathi se-Q&A, ukuqinisekisa ukuthi siyakwazi ukuzwa kwabaningi ngangokunokwenzeka kini, sizocela umkhawulo wombuzo owodwa kanye nokulandelela okukodwa kumuntu ngamunye. Ngesikhathi se-Q&A, ukuqinisekisa ukuthi siyakwazi ukuzwa kwabaningi ngangokunokwenzeka kini, sizocela umkhawulo wombuzo owodwa kanye nokulandelela okukodwa kumuntu ngamunye. Ngesikhathi se-Q&A, ukuze sizwe kwabaningi ngangokunokwenzeka kini, sicela ukuthi nizikhawulele kumbuzo owodwa kanye nempendulo eyodwa yokulandelela kumuntu ngamunye. Ngesikhathi seseshini ye-Q&A, ukuze sikwazi ukuzwa kubantu abaningi ngangokunokwenzeka, sicela ukuthi umuntu ngamunye akhawulelwe kumbuzo owodwa kanye nempendulo eyodwa elandelayo. Ngiyabonga. Umsebenzisi, sicela uvule umugqa wenkinga.
Ngiyabonga. Manene namanenekazi, siqala iseshini yemibuzo nezimpendulo. [Imiyalelo Yomqhubi] Umbuzo wakho wokuqala uvela kuNick Modi we-RBC Capital Markets. Sicela uqhubeke.
Sawubona Tom. Ngakho-ke, Tom, uma unganikeza ulwazi olwengeziwe mayelana nesimemezelo se-Costco, ngicabanga ukuthi leli yithuba elibaluleke kakhulu. Ngakho-ke mhlawumbe noma yimiphi eminye imibala oyinikezayo izosiza.
Yebo. Ngokusobala, sibonga ithimba lethu lokuthengisa elisebenze ngempumelelo ne-Costco ukwandisa ubudlelwano bethu besikhathi eside, kanye nabalingani bethu abaphambili abanikeze izinga lenkonzo i-Costco engasinika yona, lokhu kuzohlala kusebenza. Ukuphela kobudlelwano ngo-2027. Ingxenye engcono kakhulu ukuthi kunezingxenye ezimbili ezibaluleke kakhulu lapha. Lokhu kusekela amathuba ethu okukhula kwesikhathi eside. Ngenxa yalokho, ukwanda kwenani lamakhasimende amasha azozuza kulobu budlelwano kusiza ukugcina indaba yokukhula kwenombolo eyodwa. Ngesikhathi esifanayo, kuzosisiza futhi ukuthi sisebenzise imizila yethu kanye nobuningi bamakhasimende, okuzokhulisa ikhono lethu lokufinyelela umkhawulo we-EBITDA ongu-21% njengoba la makhasimende ephuma phambili kumakhasimende ethu akhona.
Ngakho-ke uma sekuyinto eyenzeka ekhaya, kuba yinto engenakwenzeka, kodwa bheka njengento engenakwenzeka ngoba isinika ithuba lokukhula kwamakhasimende elizothuthukisa inani lethrafikhi yesikhathi eside, futhi ngenxa yobuningi bemizila. sisebenzisa ingqalasizinda yethu yemizila.
Elinye iphuzu elihle: Asikaze sabelane ngalokhu ngaphambili, kodwa futhi singabasabalalisi abakhethekile be-Costco dispenses ezitolo. Ngakho-ke, uma ucabanga ngalokho esikubiza ngokuthi imithombo exhunyiwe, nginikeza amanzi manje ngemicimbi yethu yangaphakathi esitolo kanye nokuthengisa imithombo ukuze sikwazi ukuxhumanisa amalungu e-COSCO nenye yezinsizakalo zethu senza kokubili: ukuthengisa imishini, isevisi imisiwe, ngakho-ke lokhu kungukukhula okukhulu kakhulu ngo-2023 nangale kwalokho.
Isixhumanisi esisenzile ukuthi ngizokwenza iTaiwan ngoba akuyona inkinga ye-Costco, kodwa ngishilo kusikripthi sethu ukuthi empeleni sithola ingxenye enhle yebhizinisi elisha lokushintshanisa futhi sengeza izihlalo kumakhasimende akhona. Lokhu kubalulekile ngoba kwenza nezinto ezimbili: kusekela ukukhula kwemvelo, futhi eminyakeni embalwa ezayo sizobona ukukhula okusheshayo. Kodwa kuzophinde kuthuthukise ubuningi bemizila yethu, okuzosisiza sifinyelele umgomo wethu we-Adjusted EBITDA ka-2024 ongaba ngu-21%.
Umbala owusizo kakhulu. Tom, ngiyaqiniseka ukuthi othile ucabanga ngalokhu njengamanje, kodwa kusobala, ngokomlando, ngesikhathi sokwehla kwamandla emali, noma okungenani ngesikhathi sokwehla kwamandla emali sokugcina, lawa mabhizinisi athile abe ngaphansi kwengcindezi ethile. Ungakhuluma ngokuthi lesi sikhathi sihluke kanjani? Imodeli yakho yokusebenza ishintshe kanjani namuhla uma iqhathaniswa nebhizinisi owawukulo ngesikhathi sokwehla kwamandla emali odlule?
Yebo, ngicabanga ukuthi kunezimo eziningana ezahlukene zemakethe, uNick, vele, inzuzo yethimba labaphathi elasebenza eYurophu ngo-2008, 2009 nango-2010 iyasiza. Ngicabanga ukuthi ulwazi lwethu kanye nokusebenza kwethu ngesikhathi sobhubhane lapho sisusa khona u-18% kuya ku-20% wezindleko ze-SG&A, kukhuluma ngesimo esiguquguqukayo sebhizinisi lethu. Ngicabanga ukuthi ulwazi lwethu kanye nokusebenza kwethu ngesikhathi sobhubhane lapho sisusa khona u-18% kuya ku-20% wezindleko ze-SG&A, kukhuluma ngesimo esiguquguqukayo sebhizinisi lethu. Ngicabanga ukuthi ulwazi lwethu kanye nokusebenza kwethu ngesikhathi sobhubhane, lapho sisusa khona u-18% kuya ku-20% wezindleko ezijwayelekile nezokuphatha, kukhuluma ngesimo esiguquguqukayo sebhizinisi lethu.Ngikholwa ukuthi ulwazi lwethu kanye nokusebenza kwethu ekuqedeni izindleko ze-SG&A ezingu-18% kuya ku-20% ngesikhathi sobhubhane kubonisa ukuguquguquka kwebhizinisi lethu.Ngikholwa ukuthi sisuse u-18% kuya ku-20% we-SG&A ngesikhathi sobhubhane. Ngicabanga ukuthi ulwazi lwethu kanye nokusebenza kwethu ngesikhathi sobhubhane, lapho sisusa khona u-18% kuya ku-20% wezindleko zethu ezijwayelekile nezokuphatha, kukhuluma ngokuguquguquka kwebhizinisi lethu. Ngale ndlela, ngesikhathi sokuwa, sinenkumbulo eyanele yokulungisa isakhiwo kahle ukuze sivumelane nalokho okwenzekayo emgqeni ophezulu.
Kodwa esinye isici esibalulekile kithi kwaba yinzuzo yomshini wokukhipha amanzi oxhunyiwe namanzi ahlanzekile, esingakucabanganga lapho siqala ukuhambahamba. Ngakho-ke ngithengisa imishini yokukhipha amanzi, abathengi bangakhetha isevisi yamanzi, futhi isevisi yethu yamanzi ihlanganisa izinga lezenhlalo nezomnotho. Ngakho-ke, uma ucabanga ngomsebenzisi wamanzi ojwayelekile oqondile, imali yabo engenayo ephezulu cishe izobhekana kangcono nesiphepho, bese sinebhizinisi lokugcwalisa amanzi esasingenalo ngo-2007 nango-2008, okuyisinqumo esibizayo. Ingqondo izinikele emanzini okuphuza asezingeni eliphezulu. Noma ngabe awuwenzi umnotho, lezi yizinkinga zangempela, kodwa sinikeza abantu izinketho uma becindezelekile. Ungathola ukushintshaniswa ngentengo ephansi noma ngentengo engcono, kodwa hhayi ngokuqondile. Ulahlekelwa izinzuzo zokuvakashela kwami kwabesilisa nabesifazane, noma ungagcwalisa wena ngentengo yangempela uma ugcwalisa. Ngakho-ke sicabanga ukuthi kusenza sikwazi ukumelana ngale ndlela. Empeleni, ngicabanga ukuthi imiphumela yekota yesithathu ikhombisa ukuthi siqine kangakanani namuhla.
Sawubona Tom. Mhlawumbe ukube bengizoqhubeka, bengizoqala ngesibalo semali engenayo, esiqinile uma sibheka ingcindezi yokwehla kwamandla emali emakethe yezimali zangaphandle. Ngakho-ke imibuzo embalwa nje. Ngiyazibuza ukuthi uyawuqonda yini umthelela wala maphuzu amabili kumamali engenayo engenayo, ngicabanga ukuthi esikhathini esizayo kufanele sithathe u-20% njengezinga elisha lesisekelo?
Ngizophendula umbuzo wesibili kuqala bese ngidlulisela ingxenye yokuqala yombuzo wakho kuJay. Ngicabanga ukuthi ungabheka u-20% sengathi cishe u-21% ohambweni lwethu. Lokhu kuyisibonakaliso esihle sokuthi sinendawo ecacile nendlela yokwenza ukuze sifike lapho. Kumelwe uqonde ukuthi kukhona ukuhambisana kwesizini ethile emkhawulweni we-EBITDA njalo ngekota. Ngakho-ke ngingasho ukuthi lesi yisinyathelo sokuqala esikhulu. Lokhu okungenani ngokwazi kwami, izinga eliphakeme kakhulu esake saba kulo, futhi kuyisibonakaliso sokuthi sizoba kuphi. Lokhu akusho ukuthi i-Q1 izoba lapho. Angisho ukuthi akusikho isiqondiso, kodwa kuzoba nezinguquko zekota uma sifinyelela esivumelwaneni esingu-21%.
Isikhathi sokuthunyelwe: Disemba-07-2022