Attached files
| file | filename |
|---|---|
| EX-99.5 - EXHIBIT 99.5 - VECTOR GROUP LTD | newvalleyfactsheet112016.htm |
| EX-99.3 - EXHIBIT 99.3 - VECTOR GROUP LTD | vgrinvestorpresentationn.htm |
| EX-99.2 - EXHIBIT 99.2 - VECTOR GROUP LTD | vgr-2016q3xex992sfdstockdiv.htm |
| EX-99.1 - EXHIBIT 99.1 - VECTOR GROUP LTD | vgr-2016q3xex991sfd.htm |
| 8-K - 8-K - VECTOR GROUP LTD | vgr-2016q3x8kstockdiv.htm |
($13M)
Vector Group Ltd. owns Liggett Group, Vector Tobacco and New Valley.
New Valley owns a 70% interest in Douglas Elliman.
Adjusted Revenues LTM 9/30/161
EXECUTIVE MANAGEMENT
Howard M. Lorber
President and Chief Executive Officer
Richard J. Lampen
Executive Vice President
J. Bryant Kirkland III
Senior Vice President, Chief Financial Officer and Treasurer
Marc N. Bell
Senior Vice President, General Counsel and Secretary
Ronald J. Bernstein
President and Chief Executive Officer of Liggett
Group LLC and Liggett Vector Brands LLC
10-Year Stockholder Return
• New Valley, which owns 70.59% of Douglas Elliman Realty, LLC, is a diversified real estate
company that is seeking to acquire additional operating companies and real estate properties.
• New Valley has invested approximately $200 million, as of September 30, 2016, in a broad
portfolio of 23 real estate investments.
• Douglas Elliman is the largest residential real estate brokerage firm in the New York metropolitan
area and the fourth-largest in the U.S.
• Douglas Elliman’s closings totaled $25.1 billion for the twelve months ended September 30,
2016 and it has approximately 6,000 affiliated agents and 90 offices throughout the New York
metropolitan area, South Florida, Aspen, Greenwich, and Los Angeles.
REAL ESTATE
Real Estate
Tobacco
This summary contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have identified these forward-looking statements using words such as “could” and similar expressions. These statements reflect our
current beliefs. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements to differ materially from those expressed in, or implied by, such statements.
TOBACCO
• Fourth-largest cigarette manufacturer in the U.S. with a strong family of brands — Pyramid,
Grand Prix, Liggett Select, Eve and Eagle 20’s — representing 12% share of the discount market.
• Focused on brand strength and long-term profit growth, while continuing to evaluate
opportunities to pursue incremental volume and margin growth.
• Annual cost advantage due to favorable treatment under the Master Settlement Agreement that
ranged between $163 million and $168 million from 2011 to 2015.
• The only cigarette company to have reached a comprehensive settlement resolving substantially all
of the individual Engle progeny product liability cases pending in Florida. The Engle progeny cases
have represented the most significant litigation against the U.S. cigarette industry in recent years.
COMPANY HIGHLIGHTS
• Headquartered in Miami with an executive office in
Manhattan and tobacco operations in North Carolina
• Employs approximately 1,400 people
• Executive management and directors beneficially
own 13% of the Company
• Reported cash of $462 million and investments with
fair value of $272 million at September 30, 2016
• Recognized as one of America’s Most Trustworthy
Companies by Forbes in 2013
Real Estate
Tobacco
Corporate and Other
$1.021B
$690M
TOTAL
$1.709B
Vector is a largely underfollowed
company with a highly competent
management team and numerous
ways to unlock value
“
“
Barron’s Online, August 14, 2014
Oppenheimer analyst Ian Zaffino
2 10-Year return from October 31, 2006 to October 31, 2016 and assumes reinvestment of dividends received
Net income attributable to Vector Group Ltd. for the periods presented was $37M, $37M, $59M and $74M, respectively. The Company’s revenues for the twelve months ended September 30, 2016 were $1.709B. Adjusted EBITDA and Adjusted Revenues are non-GAAP financial measures. For a reconciliation of
Adjusted EBITDA to net income and Adjusted Revenues to revenues, please see Vector Group Ltd.’s Current Reports on Forms 8-K, filed on November 15, 2016, November 3, 2016, April 1, 2016 and March 8, 2016 (Commission File Number 1-5759). Please also see Vector Group Ltd.’s Form 10-K for the year
ended December 31, 2015 and Form 10-Q for the quarterly period ended September 30, 2016 (Commission File Number 1-5759).
1
Adjusted EBITDA1
Contact: Emily Deissler / Ben Spicehandler / Columbia Clancy of Sard Verbinnen & Co (212) 687-8080
VGR Total Return 376.4% (16.9% Compounded) 2
S&P 500 Total Return 91.2% (6.7% Compounded) 2
www.vectorgroupltd.com
November 2016
E-Cigarettes
LTM 9/30/2016
$268M
$31M
($15M)
$278M
($6M)
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
100
0
300
200
400
2013
$199M
$51M
$236M
($1M)
2014
$211M
$40M
($11M)
$227M
2015
$245M
$27M
($13M)
$246M
($13M)($13M)