Janus International Announces $50 million Debt Paydown

Rhea-AI Summary

Janus International Group (NYSE: JBI) has announced the payment of $50 million in debt, utilizing cash reserves to reduce its first lien term loan facility. This strategic move is aimed at lowering interest expenses and sustaining net leverage within the targeted range of two to three times net debt-to-trailing twelve month Adjusted EBITDA. CFO Anselm Wong highlighted the company's ongoing strong cash flow that facilitates capital deployment. Janus specializes in manufacturing solutions for the self-storage industry, with a global presence in several U.S. locations and six international sites.

Positive

• Paid down $50 million in debt, improving financial stability.
• Reduction in interest expenses expected due to the debt repayment.
• Strong cash flow enables further capital deployment.

Negative

• None.

TEMPLE, Ga.--(BUSINESS WIRE)-- Janus International Group Inc. (NYSE: JBI) (“Janus” or the “Company”), a leading global manufacturer and supplier of turn-key building solutions and new technology for the self-storage industry, today announced that it paid down $50 million in debt using cash on hand. The $50 million was paid against the Company’s first lien term loan facility.

“We continue to generate strong cash flow in our business, enabling us to deploy capital opportunistically. This paydown helps us reduce interest expense and maintain net leverage in our stated target range of two to three times net debt-to-trailing twelve month Adjusted EBITDA,” said Anselm Wong, Chief Financial Officer.

About Janus International Group

Janus International Group, Inc. (www.JanusIntl.com) is a leading global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including roll-up and swing doors, hallway systems, re-locatable storage units and facility and door automation technologies. The Janus team operates out of several U.S. locations and six locations internationally.

Forward Looking Statements

Certain statements in this communication may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this communication are forward-looking statements, including, but not limited to statements regarding Janus’s positioning in the industry, Janus’s ability to strengthen its pipeline and deliver on its objectives, and Janus’s belief regarding the demand outlook for Janus’s products and the strength of the industrials markets. When used in this communication, words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions, as they relate to the management team, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Janus’s management, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements.

In addition to factors previously disclosed in Janus’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks of the self-storage industry; (ii) the highly competitive nature of the self-storage industry and Janus’s ability to compete therein; and (iii) the risk that the demand outlook for Janus’s products may not be as strong as anticipated.

There can be no assurance that the events, results, trends or guidance regarding financial outlook identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Janus is not under any obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Janus and is not intended to form the basis of an investment decision in Janus. All subsequent written and oral forward-looking statements concerning Janus or other matters and attributable to Janus or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above and under the heading “Risk Factors” in Janus’s most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, as updated from time to time in amendments and its subsequent filings with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230403005204/en/

Investors, Janus

John Rohlwing

Vice President, Investor Relations & FP&A, Janus International

(770) 562-6399

IR@janusintl.com

Media, Janus

Bethany Salmon

Marketing Content Manager, Janus International

770-746-9576

Marketing@Janusintl.com

Source: Janus International Group, Inc.

FAQ

What was the recent debt payment announced by Janus International Group?

Janus International Group announced a $50 million debt payment to reduce its first lien term loan facility.

How does Janus's debt repayment impact its financial standing?

The debt repayment is expected to lower interest expenses and maintain net leverage within the targeted range of two to three times net debt-to-trailing twelve month Adjusted EBITDA.

What is the current stock symbol for Janus International Group?

The stock symbol for Janus International Group is JBI, traded on the NYSE.

What industry does Janus International Group operate in?

Janus International Group operates in the self-storage industry, providing turn-key building solutions and technologies.

Who commented on the debt repayment in the press release?

Anselm Wong, the Chief Financial Officer of Janus International Group, commented on the debt repayment.