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OFFON

H.B. FULLER COMPANY

(FUL)
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H B Fuller : HB Fuller Q3 2021 Business Performance Summary

11/19/2021 EST

H.B. Fuller Investor Q3'21 Summary

November 2021

Safe Harbor Statement

2

Certain matters discussed today may include 'forward looking statements' as that term is defined under the Private Securities Litigation Reform Act of 1995. Since such statements reflect our current expectations, actual results may differ as they are subject to the kinds of risks that are enumerated in the Company's Securities and Exchange Commission (SEC) filings. The Company disclaims any obligation to subsequently revise any forward-looking statements to reflect actual events or circumstances after the date of such statements. Many of the risks and uncertainties are, and will be, exacerbated by COVID-19 and any worsening of the global economic environment as a result.

Regulation G

The information presented during today's meeting regarding adjusted gross profit, adjusted selling, general and administrative expense, adjusted diluted earnings per share, earnings before interest, taxes, depreciation, and amortization (EBITDA) does not conform to generally accepted accounting principles (GAAP) and should not be construed as an alternative to the reported results determined in accordance with GAAP. Management has included this non-GAAP information to assist in understanding the operating performance of the Company and its operating segments as well as the comparability of results. The non-GAAP information provided may not be consistent with the methodologies used by other companies. All non-GAAP information is reconciled with reported GAAP results in the company's press releases available on the company's website, with the exception of our forward-lookingnon-GAAP measures, which the company cannot reconcile to forward-looking GAAP measures without unreasonable effort.

Additional Information

Please refer to our recent press release and annual report for the year ended November 28, 2020, on Form 10-K, and our quarterly Forms 10-Q, filed with the Securities and Exchange Commission, and available on our website at www.hbfuller.com in the Investors section.

H.B. Fuller at a Glance

World Headquarters

St. Paul, MN, USA

H.B. Fuller (NYSE: FUL)

3

6,400+ employees

130+ years of history

$2.8 billion in 2020 revenue

71 manufacturing facilities

38 technology centers

125 countries with sales

36 countries with facilities or offices

3 global business units serving

30+ markets

10,000 adhesive solutions

435 patents

95,000+ social media followers

Resilient, Diversified, Agile and Innovation-focused Business Model

4

Engineering

Hygiene, Health &

Construction

Consumable

Adhesives

Adhesives

Adhesives

FY 2020 Financials*

$1.1B Revenue

$1.3B Revenue

$0.4B Revenue

15.4% EBITDA

13.7% EBITDA

14.0% EBITDA

LT Targeted EBITDA %

High teens to 20%

Mid teens

High teens

  • Global alignment for agility in customer engagement
  • Streamlined functional operations with lower cost to serve customers
  • 2020 Restructuring with >5% reduction in SG&A expense (~$35 million of savings achieved)
  • Also initiated Operations & Supply Chain project in 2020 (est. $20 - 30M of streamlined costs and increase efficiency and utilization)

* Please see Appendix for reconciliations of adjusted non-GAAP metrics to the nearest GAAP measure

5

Executing Well on 2021 Priorities

  • Volume Growth - through service and innovation, as we support our customers' success in the current high-demand, supply- constrained environment.
  • Strategic Pricing - effectively implemented and aligned to the value we deliver, to recover raw material increases, maintain and grow our gross profit margins.
  • Free Up Capacity - through our operational excellence programs to help fuel our growth.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

H.B. Fuller Company published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 15:39:04 UTC.


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Financials (USD)
Sales 2021 3 279 M - -
Net income 2021 169 M - -
Net Debt 2021 1 496 M - -
P/E ratio 2021 22,0x
Yield 2021 0,92%
Capitalization 3 794 M 3 794 M -
EV / Sales 2021 1,61x
EV / Sales 2022 1,43x
Nbr of Employees 6 428
Free-Float -
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 71,89 $
Average target price 84,86 $
Spread / Average Target 18,0%
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Managers and Directors
James J. Owens Senior Vice President-Americas
John J. Corkrean Chief Financial Officer & Executive Vice President
Lee R. Mitau Non-Executive Chairman
Ebrahim Rezai Chief Technology & Innovation Officer, VP
Theodore M. Clark Chief Operating Officer & Executive Vice President