JAMIESON WELLNESS INC.
At Jamieson Wellness, their family of brands works together to ensure consumers have access to the products they need for their health and wellness goals, from a company they can trust. Their product portfolio is specifically curated to help maintain overall health with daily multivitamins for all age groups, letter vitamins, digestive, heart health, and immune support formulas. We offer a variety of products to support women’s hormone health and beauty from within, and proteins and other sports nutrition products for those with active lifestyles. They also believe that taking your vitamins can be fun and delicious, and provide a variety of ways to make that happen through gummies, chewable tablets, powders, sprays, and more. They have three state-of-the-art manufacturing, packaging, and warehouse facilities located in Windsor, Ontario.
Their main production facility spans more than 120,000 square feet and specializes in tablet and capsule production. We have a 70,000-square-foot facility that produces softness in various shapes and sizes in liquid, semi- solid and suspended solids. Their 100,000-square-foot warehouse houses raw materials and supplies for the production process.
They also have a 100,000-square-foot powder manufacturing facility in Scarborough, Ontario. In addition to branded product manufacturing and packaging, all their facilities support our contract manufacturing business. Our production facilities are licensed by Health Canada and we also hold a site license issued by the Natural Health Product Directorate following Canada’s natural health product regulations.
In fiscal 2022, they expect revenue to grow between 5.0% and 9.0%, representing revenues of approximately $474.0 to $491.0 million. They anticipate Adjusted EBITDA to range from $108.0 to $112.0 million and Adjusted diluted earnings per share to range from $1.42 to $1.48. Revenue in the Jamieson Brands segment is expected to increase between 6.0% to 10.0% compared with fiscal 2021, driven by growth in the following categories:
• They expect domestic branded revenues to grow between 4.0% and 7.0%, reflecting strong consumer demand on a higher post-pandemic baseline and the impact of retail replenishments throughout 2021. They expect improved customer fill rates and strong on-shelf availability at retailers will enable us to effectively drive volumes with a focus on innovation and promotional activities, leveraging our 100th-anniversary marketing campaigns. They expect revenues in the first quarter of 2022 to increase by 4.0% to 6.0% compared with the first quarter of 2021, reflecting the timing of retail shipments at the end of fiscal 2021.
• They expect international revenue growth of approximately 20.0% in U.S. dollars. Our growth will be driven by expansion across key regions in Asia, Europe, and the Middle East while continuing to drive accelerated growth in China as we increase our local capabilities and brand investments in the market. They expect revenues in the first quarter of 2022 to grow by approximately 10.0% compared with the first quarter of 2021 reflecting the prioritization of non-immunity orders in the prior year while they return to seasonal fulfillment levels in the current year.
Revenue in the Strategic Partners segment is expected to increase by up to 5.0% compared with fiscal 2021, reflecting pricing and volume changes in our customers’ products. First-quarter 2022 revenues are expected to decline by up to 10.0% compared with the first quarter of 2021, reflecting order timing and expanded programs with customers in the prior year.
They expect to incur certain non-capital costs related to the enhancement of their IT systems to improve operating efficiencies and augment our system infrastructure during fiscal 2022. These costs will impact net earnings while their expected Adjusted net earnings and Adjusted diluted earnings per share for fiscal 2022 will reflect the adding back of these expenses on a tax-effected basis.