Attached files
| file | filename |
|---|---|
| EX-99.4 - EXHIBIT 99.4 - VECTOR GROUP LTD | newvalleyfactsheetnov201.htm |
| EX-99.2 - EXHIBIT 99.2 - VECTOR GROUP LTD | vgr-2017q3xex992sfdstockdiv.htm |
| EX-99.1 - EXHIBIT 99.1 - VECTOR GROUP LTD | vgr-2017q3xex991.htm |
| 8-K - 8-K - VECTOR GROUP LTD | vgr-2017q3x8kstockdiv.htm |
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 LTM
9/30/17
Vector Group Ltd. owns Liggett Group, Vector Tobacco and New Valley.
New Valley owns a 70% interest in Douglas Elliman.
LTM 9/30/2017 Revenues
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
REAL ESTATE
• 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 $215 million, as of September 30, 2017, in a broad
portfolio of 27 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 $25.4 billion for the twelve months ended September 30,
2017, and it has more than 7,000 affiliated agents and 100 offices throughout the New York
metropolitan area, South Florida, Aspen, Greenwich, and Los Angeles.
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 13% 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 $169 million from 2011 to 2016.
• 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 a substantial portion of Liggett’s pending litigation.
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 $3963 million and investments with
fair value of $296 million at September 30, 2017.
• Recognized as one of America’s Most Trustworthy
Companies by Forbes in 2013
Real Estate
Tobacco
Corporate and Other
$1.085B
$701M
TOTAL
$1.785B
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, 2007 to October 31, 2017 and assumes reinvestment of dividends received
3 At September 30, 2017 this amount includes cash at Douglas Elliman, a 70.59%-owned subsidiary, of $101 million and cash at Liggett, a wholly-owned subsidiary of $88 million. Excludes real estate investments.
Net income attributable to Vector Group Ltd. for the periods presented was $37M, $59M, $71M and $46M, respectively. Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to net income, please see Vector Group Ltd.’s Current Reports on Forms 8-K, filed on November 15,
2016, March 1, 2017 and November 7, 2017 (Commission File Number 1-5759). Please also see Vector Group Ltd.’s Form 10-K for the year ended December 31, 2016 and Form 10-Q for the quarterly period ended September 30, 2017.
1
Adjusted EBITDA1
Contact: Emily Claffey / Ben Spicehandler / Columbia Clancy of Sard Verbinnen & Co (212) 687-8080
VGR Total Return 268.4% (13.9% Compounded) 2
S&P 500 Total Return 106.4% (7.5% Compounded) 2
November 2017
E-Cigarettes
($1M) ($1M)
LTM 9/30/17
$260M
$19M
($15M)
$263M
2014
$211M
$40M
($11M)
$227M
2015
$245M
$27M
($13M)
$246M
($13M)($13M)
2016
$269M
$28M
($16M)
$280M
500
400
100
0
300
200
www.vectorgroupltd.com