Simpson Manufacturing (SSD) Investor presentation summary

Business model and portfolio

• Broad offering spans 10,000+ standard and custom products for wood, concrete and steel connections, plus 50+ software and web applications.

• Service model includes ~700 field sales reps, ~98% product fill rate, typical 24–48-hour delivery and 26 training centers.

• Products and services support customers across code compliance, specification, procurement and installation.

Markets and growth opportunities

• Core addressable markets: wood connectors, truss and lateral at $3.8B; fasteners at $5.1B; concrete and steel connections at $2.8B.

• Estimated U.S. housing shortage of ~2 million homes; projected 2024–2034 demand totals 18.6M homes, or 1.86M per year.

• North America volume averaged ~3 percentage points above market in 2015–2019 and ~7 points above market in 2020–2024.

• Growth priorities include digital specification and ordering tools, expansion in Europe’s core markets, and targeted solutions for residential, commercial, OEM, retail and component manufacturers.

Financial performance

• FY2024 revenue was $2.2B and operating income $430M, versus $1.25B and $250M in 2020; U.S. housing starts were 1.36M and 1.38M, respectively. FY2024 results unaudited.

• FY2024 sales by operating segment: North America $1,736M, Europe $479M and Asia/Pacific $17M; by product: wood construction $1,900M, concrete construction $331M and other $2M. Unaudited.

• Investment highlights cite 19% EPS CAGR over the prior 10 years and strong gross profit and operating margins.

• Ambitions include maintaining operating income margin above 20%, growing EPS faster than net revenue and continuing above-market growth relative to U.S. housing starts.