Matthews International Corporation (MATW): Modelo de negócios Canvas [Jan-2025 Atualizado]

A Matthews International Corporation (MATW) surge como uma empresa dinâmica e multifacetada que preenche perfeitamente soluções memoriais, tecnologias industriais e serviços de marca inovadores. Com uma tela robusta de modelo de negócios que abrange diversas indústrias - de serviços funerários à fabricação automotiva - a empresa demonstra adaptabilidade notável e profundidade estratégica. Ao alavancar recursos avançados de fabricação, tecnologias proprietárias e uma rede global de parcerias, a MATW se posicionou como um jogador único que transforma desafios industriais complexos em soluções sofisticadas e centradas no cliente em domínios memoriais, marcação e embalagem.

Matthews International Corporation (MATW) - Modelo de negócios: Parcerias -chave

Fornecedores estratégicos de tecnologias de metal, madeira e impressão digital

A Matthews International Corporation mantém parcerias estratégicas com fornecedores especializados em tecnologia e materiais:

Categoria de fornecedores	Parceiros -chave	Foco em parceria
Fabricação de metal	Precision Metal Works Inc.	Fornecimento de componente metal personalizado
Impressão digital	Xerox Corporation	Integração de tecnologia de impressão avançada
Materiais de madeira	Timber Solutions LLC	Compra de material de madeira sustentável

Provedores de serviços funerários e operadores de cemitério

Principais parcerias em segmentos de serviço memorial e funerário:

• Service Corporation International (SCI)
• Dignity Memorial Network
• Associação Nacional de Diretores Funerários

Parceiros de fabricação e equipamento industrial automotivos

As colaborações industriais estratégicas incluem:

Setor da indústria	Empresas parceiras	Escopo de colaboração
Automotivo	Ford Motor Company	Soluções de produto projetado
Equipamento industrial	Caterpillar Inc.	Componentes de fabricação personalizados

Colaboradores de embalagens e soluções de marca

A rede de parceria de embalagem inclui:

• International Paper Company
• Westrock Company
• Consórcio de embalagens Internacional

Redes globais de distribuição e logística

Parcerias de logística e distribuição:

Provedor de logística	Cobertura geográfica	Tipo de serviço
FedEx Logistics	América do Norte	Frete e distribuição
Encaminhamento global da DHL	Internacional	Soluções de envio mundial

Matthews International Corporation (MATW) - Modelo de negócios: Atividades -chave

Projeto e fabricação de produtos de memorialização

A Matthews International Corporation produz uma gama abrangente de produtos de memorialização com recursos anuais de fabricação em várias instalações. A empresa opera aproximadamente 16 locais de fabricação globalmente.

Categoria de produto	Volume anual de produção	Locais de fabricação
Memoriais de bronze	Mais de 250.000 unidades	América do Norte
Memoriais de granito	Aproximadamente 180.000 unidades	Estados Unidos

Soluções de fundição de metal de precisão e marcação industrial

A empresa é especializada em fundição de metal de precisão com capacidades tecnológicas avançadas.

• Produção anual de fundição de metal: 2,5 milhões de componentes industriais
• Níveis de tolerância à precisão: ± 0,01mm
• Soluções de marcação industrial que servem vários setores

Serviços de impressão digital e identificação de marca

A Matthews International fornece tecnologias avançadas de impressão digital em vários setores.

Categoria de serviço	Volume anual de serviço	As indústrias primárias serviram
Impressão digital	Mais de 500.000 pedidos de impressão	Embalagem, bens industriais e de consumo
Identificação da marca	Aproximadamente 750.000 soluções de marcação	Fabricação, Automotiva, Eletrônica

Engenharia e Inovação de Produtos

A empresa investe significativamente em pesquisa e desenvolvimento.

• Despesas anuais de P&D: US $ 12,3 milhões
• Número de patentes ativas: 47
• Tamanho da equipe de engenharia: 125 engenheiros profissionais

Vendas e marketing de diversas linhas de produtos

A Matthews International mantém uma infraestrutura de vendas robusta em vários mercados globais.

Região de vendas	Receita anual	Número de representantes de vendas
América do Norte	US $ 487,6 milhões	95
Mercados internacionais	US $ 213,4 milhões	65

Matthews International Corporation (MATW) - Modelo de negócios: Recursos -chave

Instalações de fabricação avançadas

A Matthews International Corporation opera instalações de fabricação em vários locais globais:

Localização	Tipo de instalação	Mágua quadrada total de fabricação
Estados Unidos	Caixão de metal e equipamento de cremação	285.000 pés quadrados
México	Manufatura de memorialização	75.000 pés quadrados
Europa	Instalações de revestimento industrial	120.000 pés quadrados

Recursos de engenharia e design especializados

Os recursos de engenharia e design incluem:

• 95 profissionais de engenharia registrados
• 12 centros de P&D dedicados
• 27 equipes de desenvolvimento de produtos ativos

Propriedade intelectual e tecnologias proprietárias

Detalhes da carteira de propriedade intelectual:

• 42 patentes ativas
• 18 pedidos de patente pendente
• Tecnologias proprietárias de revestimento e memorialização

Força de trabalho qualificada

Categoria de funcionários	Total de funcionários	Nível de experiência técnica
Trabalhadores manufatureiros	2,100	Habilidades de alta precisão
Equipe de engenharia	350	Experiência técnica avançada
Profissionais de design	175	Habilidades de design especializadas

Infraestrutura financeira

Recursos financeiros a partir de 2023 ano fiscal:

• Total de ativos: US $ 1,2 bilhão
• Caixa e equivalentes em dinheiro: US $ 87,5 milhões
• Dívida total: US $ 425 milhões
• Capital de giro: US $ 210 milhões

Matthews International Corporation (MATW) - Modelo de negócios: proposições de valor

Soluções abrangentes de produtos memoriais e comemorativos

A Matthews International Corporation fornece aos produtos memoriais as seguintes características do mercado:

Categoria de produto	Receita anual	Quota de mercado
Memoriais de bronze	US $ 87,4 milhões	42%
Memoriais de granito	US $ 63,2 milhões	35%
Produtos comemorativos personalizados	US $ 41,6 milhões	23%

Identificação industrial de alta qualidade e tecnologias de marcação

Soluções de marcação industrial com métricas de desempenho específicas:

• Receita Total de Tecnologias Industriais: US $ 156,3 milhões
• Penetração do mercado de marcação industrial global: 27%
• Taxa de precisão do produto: 99,8%

Serviços personalizados de proteção e embalagem da marca

Segmento de serviço	Receita anual	Taxa de crescimento
Soluções de embalagem	US $ 112,7 milhões	6.2%
Tecnologias de proteção à marca	US $ 45,6 milhões	8.5%

Capacidades inovadoras de design e engenharia

Métricas de investimento e desempenho de engenharia:

• Investimento anual de P&D: US $ 24,3 milhões
• Portfólio de patentes: 87 patentes ativas
• Taxa de sucesso da inovação de produtos: 72%

Ofertas sustentáveis ​​e tecnologicamente avançadas de produtos

Métrica de sustentabilidade	Desempenho atual	Ano -alvo
Redução de emissão de carbono	Redução de 32%	2025
Uso de material reciclado	45% do total de materiais	2026
Melhoria da eficiência energética	Redução de 28% no consumo de energia	2024

Matthews International Corporation (MATW) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias contratuais de longo prazo com clientes do setor

A Matthews International Corporation mantém 127 parcerias contratuais ativas de longo prazo em serviços funerários, revestimentos industriais e soluções de marca a partir de 2023 ano fiscal. A duração média do contrato é de 4,7 anos, com o valor anual do contrato que varia de US $ 250.000 a US $ 3,2 milhões.

Segmento	Número de contratos	Valor médio do contrato
Serviços funerários	47	US $ 1,5 milhão
Revestimentos industriais	53	US $ 2,3 milhões
Soluções de marca	27	US $ 1,8 milhão

Suporte e consulta personalizados do cliente

A MATW emprega 214 especialistas em suporte ao cliente dedicados em escritórios globais. A classificação de satisfação do cliente é de 88,6% com base na pesquisa de clientes independentes de 2023.

Serviço técnico e manutenção do produto

A rede de serviços técnicos abrange 42 países com 376 técnicos certificados. O tempo médio de resposta para o suporte técnico é de 4,2 horas. A receita anual do serviço técnico atingiu US $ 22,7 milhões em 2023.

Engajamento digital através de plataformas online

Métricas de engajamento de clientes digitais para 2023:

• Tráfego do site: 1,2 milhão de visitantes únicos
• Taxa de resolução de ingressos de suporte on -line: 92,4%
• Interações com o cliente da plataforma digital: 487.000

Redes de atendimento ao cliente responsivas

A infraestrutura de atendimento ao cliente inclui:

• Canais de suporte multilíngues 24/7
• Tempo médio de resposta do call center: 2,7 minutos
• Tamanho da equipe de atendimento ao cliente: 512 profissionais

Canal de serviço	Volume anual de interação	Tempo médio de resolução
Suporte telefônico	287,000	12 minutos
Suporte por e -mail	214,000	8 horas
Bate -papo ao vivo	156,000	5 minutos

Matthews International Corporation (MATW) - Modelo de Negócios: Canais

Equipes de vendas diretas

A Matthews International Corporation mantém 87 representantes de vendas diretas na América do Norte e na Europa a partir de 2023. A equipe de vendas gerou US $ 412,6 milhões em receita direta de vendas durante o ano fiscal de 2023.

Região	Número de representantes de vendas	Receita de vendas direta
América do Norte	62	US $ 276,4 milhões
Europa	25	US $ 136,2 milhões

Plataformas online de comércio eletrônico

A empresa opera três canais principais de vendas digitais, com US $ 98,3 milhões em vendas on -line para 2023.

• Site corporativo internacional de Matthews
• Plataformas de mercado de suprimentos industriais
• Portais de compra digital B2B especializados

Feiras e exposições industriais

A Matthews International participou de 24 eventos comerciais internacionais em 2023, gerando US $ 67,5 milhões em possíveis oportunidades de contrato.

Tipo de evento	Número de eventos	Valor potencial do contrato
Exposições Industriais Internacionais	12	US $ 42,3 milhões
Feiras regionais	12	US $ 25,2 milhões

Redes de distribuidores e revendedores

A empresa mantém relacionamentos com 316 distribuidores autorizados em 42 países, gerando US $ 223,7 milhões através de canais de vendas indiretos em 2023.

• Distribuidores de equipamentos industriais: 156
• Dealers de produtos memorial e de bronze: 98
• Revendedores de soluções de embalagem: 62

Canais de marketing e comunicação digital

A Matthews International aproveita várias plataformas digitais com um alcance combinado de 1,2 milhão de contatos profissionais.

Canal digital	Número de seguidores/conexões	Taxa de engajamento
LinkedIn	487,000	4.3%
Fóruns online específicos do setor	392,000	3.7%
Boletins digitais especializados	321,000	3.2%

Matthews International Corporation (MATW) - Modelo de negócios: segmentos de clientes

Casas funerárias e operadores de cemitério

A Matthews International atende a aproximadamente 25.000 locais funerários em toda a América do Norte. A penetração anual do mercado por produtos memoriais neste segmento atinge US $ 3,2 bilhões.

Tipo de cliente	Receita anual	Quota de mercado
Casas funerárias independentes	US $ 1,4 bilhão	42%
Cadeias funerárias corporativas	US $ 1,1 bilhão	34%
Cemitérios municipais	US $ 700 milhões	22%

Fabricantes automotivos e industriais

A Matthews fornece soluções industriais e de revestimento para aproximadamente 5.700 clientes de fabricação em todo o mundo.

• Segmento de mercado de revestimento automotivo: US $ 850 milhões
• Mercado de revestimento de equipamentos industriais: US $ 620 milhões
• Valor médio do contrato do cliente: US $ 2,3 milhões anualmente

Empresas de gerenciamento e embalagem de marcas

Matthews atende a mais de 3.200 clientes de embalagens e gerenciamento de marcas em todo o mundo.

Setor da indústria	Base de clientes anual	Contribuição da receita
Embalagem de alimentos	1.450 clientes	US $ 540 milhões
Bens de consumo	1.100 clientes	US $ 420 milhões
Farmacêutico	650 clientes	US $ 310 milhões

Clientes governamentais e institucionais

Matthews contrata 780 entidades governamentais e institucionais em vários setores.

• Contratos do governo federal: US $ 220 milhões
• Contratos do governo estadual/local: US $ 180 milhões
• Instituições educacionais: US $ 95 milhões

Memorial global e mercados comemorativos

A Matthews International opera em 16 países com alcance do mercado de produtos memoriais.

Região geográfica	Valor de mercado memorial anual	Penetração do cliente
América do Norte	US $ 2,1 bilhões	65%
Europa	US $ 1,4 bilhão	42%
Ásia-Pacífico	US $ 890 milhões	28%

Matthews International Corporation (MATW) - Modelo de negócios: estrutura de custos

Despesas de fabricação e produção

Para o ano fiscal de 2023, a Matthews International Corporation registrou custos totais de fabricação de US $ 729,4 milhões. A quebra dessas despesas inclui:

Categoria de custo	Valor ($)
Custos de material direto	US $ 312,6 milhões
Custos diretos de mão -de -obra	US $ 214,8 milhões
Manufatura de sobrecarga	US $ 202,0 milhões

Investimentos de pesquisa e desenvolvimento

As despesas de P&D para a Matthews International Corporation em 2023 totalizaram US $ 45,3 milhões, representando 2,7% da receita total.

• Investimentos de desenvolvimento de produtos: US $ 28,6 milhões
• Inovação tecnológica: US $ 16,7 milhões

Custos operacionais de vendas e marketing

As despesas de vendas e marketing para o ano fiscal de 2023 foram de US $ 156,2 milhões, que incluíram:

Categoria de despesa de marketing	Valor ($)
Publicidade e despesas promocionais	US $ 67,5 milhões
Compensação da equipe de vendas	US $ 58,3 milhões
Viagem e engajamento do cliente	US $ 30,4 milhões

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários em 2023 totalizaram US $ 392,7 milhões:

• Salários base: US $ 267,4 milhões
• Benefícios e planos de aposentadoria: US $ 84,3 milhões
• Treinamento e desenvolvimento profissional: US $ 41,0 milhões

Manutenção de tecnologia e equipamento

Os custos de manutenção de tecnologia e equipamentos para 2023 foram de US $ 87,6 milhões, que incluíram:

Categoria de manutenção	Valor ($)
Manutenção de infraestrutura de TI	US $ 38,2 milhões
Manutenção de equipamentos de fabricação	US $ 49,4 milhões

Matthews International Corporation (MATW) - Modelo de negócios: fluxos de receita

Vendas memoriais de produtos

A Matthews International Corporation gerou US $ 360,8 milhões em receita do segmento memorial no ano fiscal de 2023. As principais linhas de produtos incluem:

• Memoriais de bronze
• Memoriais de granito
• Produtos de cremação

Categoria de produto	Receita ($ m)	Quota de mercado (%)
Memoriais de bronze	142.5	39.5%
Memoriais de granito	118.3	32.8%
Produtos de cremação	100.0	27.7%

Serviços de marcação e identificação industriais

A receita do segmento industrial atingiu US $ 287,6 milhões no ano fiscal de 2023.

Tipo de serviço	Receita ($ m)	Taxa de crescimento (%)
Soluções de marcação	187.4	5.2%
Sistemas de identificação	100.2	4.8%

Impressão digital e soluções de marca

A receita do segmento de marca totalizou US $ 215,4 milhões no ano fiscal de 2023.

• Serviços de impressão comercial
• Soluções de embalagem
• Tecnologias de identificação da marca

Peças de reposição e contratos de manutenção

A receita de pós -venda foi de US $ 78,5 milhões no ano fiscal de 2023.

Tipo de contrato	Receita ($ m)	Taxa de renovação (%)
Manutenção do equipamento	42.3	88%
Peças de reposição	36.2	92%

Acordos de licenciamento e transferência de tecnologia

A receita de licenciamento totalizou US $ 24,7 milhões no ano fiscal de 2023.

Categoria de licença	Receita ($ m)	Duração (anos)
Licenciamento de tecnologia	15.6	3-5
Propriedade intelectual	9.1	2-4

Matthews International Corporation (MATW) - Canvas Business Model: Value Propositions

You're looking at the core offerings Matthews International Corporation delivered in Fiscal Year 2025, which ended September 30, 2025. The company has been actively reshaping its portfolio, which is reflected in these value streams.

Comprehensive, high-quality memorialization products and services.

This segment, which includes Aurora Casket, Matthews cremation products, and a complete line of cemetery products and markers, is the largest revenue contributor. For the full Fiscal Year 2025, this segment generated revenues of $809,514,000, a slight decrease from the $829.7 million reported in Fiscal Year 2024. However, the fourth quarter of 2025 showed strength, with Memorialization segment Revenues reaching $209.6 million compared to $196.8 million in the fourth quarter of Fiscal Year 2024.

The value here is in providing products that help families move from grief to remembrance. This includes:

• Bronze memorials and caskets.
• Cremation and incineration equipment.
• Cemetery products and markers.

Precision industrial marking and product identification systems.

The Industrial Technologies segment delivers precision technologies and intelligent processes for product identification. The revenue for this segment in Fiscal Year 2025 was $342,229,000. A key offering in this area is the Product Identification business, which is launching the Axiom printhead chip product, targeting an addressable market of approximately $2 billion.

The company's overall sales distribution for FY2025 shows where these industrial and other solutions are being delivered:

Region	Percentage of FY2025 Sales
North America	71%
Europe	24%
Asia	3%
Other Regions	2%

Cutting-edge, efficient dry battery electrode manufacturing solutions.

Within Industrial Technologies, the dry battery electrode (DBE) solutions business has seen very strong customer interest following the resolution of legal proceedings. Since early February 2025, the company has issued customer quotes exceeding $100 million for its DBE equipment across South Korea, Europe, and North America.

Integrated global brand creative and packaging expertise (Propelis).

This value proposition is delivered through Matthews International Corporation's significant investment in Propelis, a brand solutions business formed from the SGK transaction, for which Matthews holds a 40% common equity interest. The Brand Solutions reported revenue for FY2025 was $345,946,000, though this now centers on the cylinders business plus the equity-method income from Propelis.

The projected value from the Propelis investment is substantial:

• Propelis is projecting initial annual adjusted EBITDA of about $100 million.
• Total targeted synergies identified for Propelis are $60 million.
• For the fourth quarter of Fiscal Year 2025 (July 1, 2025, through September 30, 2025), Matthews' 40% portion of Propelis adjusted EBITDA was $12.9 million, based on a preliminary estimate of $32.2 million for the JV.

Overall consolidated adjusted EBITDA for the fiscal year ended September 30, 2025, including the 40% interest in Propelis, was approximately $200 million.

Matthews International Corporation (MATW) - Canvas Business Model: Customer Relationships

You're looking at how Matthews International Corporation (MATW) maintains its connections across its diverse customer base as of late 2025. The relationships are clearly segmented by their two core global businesses: Industrial Technologies and Memorialization.

The Memorialization segment relies on deep, long-standing ties with its core customers. This segment provides memorialization products, including memorials, caskets, cremation-related products, and cremation and incineration equipment, primarily to cemetery and funeral home customers. This relationship base was recently strengthened by the acquisition of the death-care oriented Dodge Company during the fiscal year ending September 30, 2025.

The direct sales and consultative approach is key for the Industrial Technologies segment, which focuses on precision technologies like high-tech custom energy storage solutions, product identification, and warehouse automation. For these complex industrial projects, the relationship is built on delivering specific, intelligent processes.

Investor confidence, which underpins the company's stability and ability to maintain customer commitments, is evidenced by its commitment to shareholder returns. Matthews International has been paying dividends for the last 32 years. The latest action in November 2025 involved announcing a quarterly dividend of $0.25 per share, payable on December 15, 2025, to shareholders of record as of December 1, 2025. This translates to an annualized dividend of $1.00 per share, representing a trailing dividend yield of approximately 4.08% based on recent figures. The payout ratio is estimated at 55.25% of earnings per share.

Dedicated support for industrial technology customers happens at specialized development centers, helping them integrate precision technologies. The company supports its global footprint with over 5,400 employees across 19 countries.

Here's a look at the financial scale of the customer-facing segments for the fiscal year ended September 30, 2025:

Metric	FY 2025 Value	FY 2024 Value	Change
Consolidated Revenue	$1.497 billion	$1.795 billion	Down over 16%
Memorialization Segment Revenue	$809.5 million	$829.7 million	Down about 2.5%
Memorialization Segment Q4 Revenue	$209.6 million (Q4 2025)	$196.8 million (Q4 2024)	Up 6.5%

The Memorialization segment's relationship depth can also be seen in its growing contribution to the overall business:

• Memorialization segment share of consolidated sales in Q3 2025: 58.3%
• Memorialization segment share of consolidated sales in Q3 2024: 47.4%

The nature of these relationships involves serving distinct customer groups:

• Funeral homes and cemeteries for memorials, caskets, and cremation equipment.
• Industrial clients needing product identification and warehouse automation.
• Industrial clients requiring high-tech custom energy storage solutions.
• Industrial clients utilizing coating and converting lines for packaging and pharma.

Matthews International Corporation (MATW) - Canvas Business Model: Channels

You're looking at how Matthews International Corporation moves its products and services to customers as of late 2025. The company relies on a mix of direct sales, established networks, and a significant equity-method investment for service delivery across its core segments.

The Memorialization segment channels its products-caskets, cremation products, and cemetery products-primarily through a direct sales force engaging funeral homes and cemetery operators. This channel delivered $\mathbf{\$809,514,000}$ in revenue for the full fiscal year ended September 30, 2025. For the fourth quarter of fiscal 2025 alone, this segment generated $\mathbf{\$209.6}$ million in revenue, up $\mathbf{6.5\%}$ from the $\mathbf{\$196.8}$ million seen in the fourth quarter of fiscal 2024, partially due to the inclusion of The Dodge Company's revenue.

For the Industrial Technologies segment, which includes industrial marking systems, the company utilizes a global network for sales, service, and distribution. This segment generated $\mathbf{\$342,229,000}$ in revenue for fiscal year 2025. Matthews Marking Systems serves customers worldwide through this extensive network, offering solutions for product identification, branding, and traceability. Overall, Matthews International's consolidated sales for fiscal 2025 were $\mathbf{\$1,497,689,000}$.

The global reach of Matthews International is substantial, with its employees operating across $\mathbf{19}$ Countries on $\mathbf{4}$ Continents. Geographically, $\mathbf{71\%}$ of the fiscal 2025 sales originated from North America, $\mathbf{24\%}$ from Europe, $\mathbf{3\%}$ from Asia, and $\mathbf{2\%}$ from other regions.

The Matthews Engineering Vreden Development Center represents a channel for delivering energy solutions, supporting the Industrial Technologies segment's focus on manufacturing processes for hydrogen fuel cell components and lithium-ion batteries. While the center opened, specific revenue figures tied directly to this location's channel contribution for fiscal 2025 aren't explicitly detailed in the latest reports.

Service delivery for creative and digital services is channeled through Propelis, an entity Matthews International contributed most of its SGK Brand Solutions business to on May 1, 2025, retaining a $\mathbf{40\%}$ ownership stake. Propelis is projecting an initial annual adjusted EBITDA of about $\mathbf{\$100}$ million. For the third quarter of fiscal 2025 (July 1, 2025, through September 30, 2025), Matthews International recognized $\mathbf{\$12.9}$ million from its $\mathbf{40\%}$ interest in Propelis' preliminary adjusted EBITDA for that period.

Here's a quick look at the segment revenue breakdown for fiscal 2025, which shows how the channels feed the top line:

Segment	FY 2025 Revenue (USD)
Memorialization	$809,514,000
Industrial Technologies	$342,229,000
Brand Solutions (Pre-Divestiture/Equity Method)	$345,946,000

The company also manages internal service flows, such as administrative support fees charged to Propelis. As of June 30, 2025, amounts due to Matthews International from Propelis totaled $\mathbf{\$5,887}$ (in thousands, likely) reflecting outstanding administrative fees and net transactional amounts pending settlement under the TSA (Transition Services Agreement).

The company's overall channel strategy is supported by its commitment to innovation, including the launch of Axiom, a new printhead chip product, which targets an addressable market of approximately $\mathbf{\$2}$ billion.

• The Memorialization segment serves cemeteries and funeral homes directly.
• Industrial Technologies leverages an extensive sales, service, and distribution network globally.
• Propelis delivery platforms are accessed via an equity-method investment structure.
• The company maintains a global network of employees across $\mathbf{19}$ countries.

Finance: draft 13-week cash view by Friday.

Matthews International Corporation (MATW) - Canvas Business Model: Customer Segments

Funeral homes and cemetery operators are the primary buyers within the Memorialization segment.

For the fiscal year ended September 30, 2025, the Memorialization segment generated revenues of $809.5 million, a decrease from $829.7 million in Fiscal Year 2024.

This segment represented about 54% of Matthews International Corporation's total revenue in Fiscal Year 2025.

The fourth quarter of Fiscal Year 2025 saw Memorialization segment Revenues reach $209.6 million, showing growth of 6.5% compared to the fourth quarter of Fiscal Year 2024's $196.8 million.

The customer base for the Memorialization segment includes:

• Funeral homes.
• Cemetery operators.
• Monument dealers.

Global manufacturers in consumer-packaged goods (CPG/FMCG) and large brand owners are now primarily served through the Propelis joint venture, which Matthews International Corporation holds a 40% ownership interest in following the May 1, 2025, SGK divestiture.

For the two months of May and June 2025, the preliminary estimated adjusted EBITDA for Propelis was $16.8 million, meaning Matthews International Corporation's 40% portion was estimated at $6.7 million.

Matthews International Corporation has set its consolidated adjusted EBITDA guidance for Fiscal Year 2026, including its 40% share of Propelis, to be at least $180 million.

Emerging electric vehicle (EV) and battery manufacturers are customers within the Industrial Technologies segment, specifically for dry battery electrode solutions.

Interest from other customers in these dry battery electrode solutions remained very strong, with customer quotes exceeding $100 million since early February 2025.

The Fiscal Year 2025 revenue breakdown by the company's reporting segments, post-SGK divestiture, is detailed below:

Segment	Fiscal Year 2025 Revenue (Ended September 30, 2025)
Memorialization	$809,514,000
Industrial Technologies	$342,229,000
Brand Solutions (Cylinders and retained portion)	$345,946,000

The consolidated sales for Matthews International Corporation for the Fiscal Year ended September 30, 2025, were $1,497,689,000, down from $1,795,737,000 in 2024.

The fourth quarter consolidated sales for the period ending September 30, 2025, were $318.84 million.

Matthews International Corporation (MATW) - Canvas Business Model: Cost Structure

You're looking at the expenses that drive Matthews International Corporation's operations, which are heavily weighted toward the physical creation of their products and managing a global footprint. The cost structure is clearly dominated by the inputs for their manufacturing processes.

High cost of goods sold for raw materials (bronze, wood, metals).

The Memorialization segment, which accounted for about 54% of revenue in Fiscal Year 2025, relies on materials like bronze and granite, which carry inherent commodity price risk. While specific Cost of Goods Sold (COGS) percentages aren't broken out for raw materials, the segment's reliance on physical goods means material costs are a primary driver of the cost base. For instance, the Industrial Technologies segment's Q2 FY2025 sales were $80,800,000, down from $116,100,000 the prior year, showing how top-line fluctuations directly impact the cost absorption environment.

Manufacturing overhead and global operational expenses.

Global operations mean you're dealing with fixed overhead costs spread across various international facilities. The company has been actively streamlining this, evidenced by the disposal of the European operations which were generating operating losses. Furthermore, the cost reduction programs specifically target savings from engineering and tooling operations in Europe and general and administrative costs.

Significant R&D investment in Industrial Technologies, especially energy.

Matthews International Corporation is placing heavy bets on its Industrial Technologies segment, particularly the Dry Battery Electrode (DBE) technology. This focus requires substantial investment in development and scaling. You can see the potential future revenue stream driving this cost, as customer quotes for these energy storage solutions have exceeded $100 million since early February 2025. This R&D push is a forward-looking cost necessary to secure future revenue streams.

Here's a quick look at the key financial metrics related to cost control and leverage management as of late 2025:

Metric	Value (Fiscal 2025 or Period End)	Context/Source Segment
Cost Reduction Target (Annual Savings)	Up to $50,000,000	Consolidated Initiatives
Expected FY2025 Cost Savings Run Rate	$25 million to $30 million	By end of FY2025
Net Debt Leverage Ratio (Target Post-Warehouse Automation Sale)	Below 3.0x	Long-term target is 2.5x
Net Debt Leverage Ratio (as of March 31, 2025)	4.0	Pre-divestiture/sale impact
Outstanding Debt (as of September 30, 2025)	$711 million	Year-end balance
Net Debt (as of September 30, 2025)	$678 million	Debt less cash
Industrial Technologies Segment Sales (Q2 FY2025)	$80,800,000	Compared to $116,100,000 a year ago
Industrial Technologies Segment Adjusted EBITDA (Q2 FY2025)	$6,000,000	Compared to $10,000,000 a year ago

Interest expense on debt, which is targeted to reduce net leverage below 3.0x.

Debt servicing is a definite cost component. The company's strategy is clear: use proceeds from divestitures, like the SGK transaction (which brought in $250 million cash upfront) and the pending Warehouse Automation sale (expected to yield $223 million in cash consideration), to pay down debt. This aggressive deleveraging is aimed at getting the net leverage ratio below 3.0x post-Warehouse Automation sale, with a long-term goal of 2.5x. The net debt leverage ratio stood at 3.88 at the end of Q1 FY2025, showing the starting point for this cost management effort. Interest expense was noted as higher in Q1 FY2025, contributing to the net loss of $3.5 million for that quarter.

Cost reduction programs targeting at least $50 million in annual savings.

Matthews International Corporation initiated cost reduction programs that are expected to result in annual consolidated savings up to $50,000,000. These programs are defintely on track, with management noting they are expected to generate savings above the initial $50 million estimate. By the end of fiscal 2025, the company anticipated achieving a run rate of $25 to $30 million in savings, with the remainder realized by the end of the next fiscal year.

• Savings are primarily from engineering/tooling in Europe.
• Savings also target general and administrative costs.
• Upfront costs, like severance, impacted current GAAP results.
• Corporate and other non-operating costs were reduced by 11.4%, or $4.9 million, year-to-date in Q3 FY2025.

Finance: draft 13-week cash view by Friday.

Matthews International Corporation (MATW) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Matthews International Corporation's business model as of late 2025, which is definitely in a state of transition following major portfolio moves. The revenue streams are now much more focused after divesting the bulk of the SGK Brand Solutions business into the Propelis joint venture in May 2025, and with the pending sale of the Warehouse Automation unit.

The core, continuing revenue streams are anchored in two main segments, plus the financial benefit from the Propelis stake. For the full fiscal year 2025, which ended September 30, 2025, consolidated sales landed at approximately $1,497,689,000. This figure reflects the reduced scope after the SGK divestiture.

Here's a breakdown of the key revenue-generating activities, keeping in mind that the Brand Solutions segment is now primarily the cylinders business plus the equity-method investment income from Propelis. To be fair, the Q4 2025 segment numbers show the current run-rate better than the full-year number which includes pre-divestiture sales for part of the year.

Revenue Stream Component	FY2025 Annual Sales (Approximate)	Q4 2025 Segment Sales
Memorialization Product Sales	$809,514,000	$209.7 million
Industrial Technologies Equipment and Service Sales	$342,229,000	$93 million
Brand Solutions (Post-Divestiture Core)	$345,946,000	$16.2 million

The Memorialization product sales are a bedrock, showing strength even with the portfolio changes. For the full fiscal year 2025, this segment totaled $809,514,000. This was supported by the recent acquisition of The Dodge Company and good pricing realization.

Industrial Technologies equipment and service sales represent the second major operational stream. For the full fiscal year 2025, this segment brought in $342,229,000 in sales. You should note that the Q4 2025 sales for this segment were $93 million, which was lower year-over-year partly due to challenges in the engineering business related to litigation.

A significant, non-operational revenue component comes from the equity earnings from the 40% stake in Propelis, the entity formed from the SGK divestiture. While the prompt asks for equity earnings, the financial reporting focuses on the equity-method investment income. For the fourth quarter ended September 30, 2025, Matthews recognized its 40% share of Propelis adjusted EBITDA, which amounted to $12.9 million. Management noted Propelis was outperforming expectations.

Finally, you must account for the cash proceeds from strategic divestitures, which are crucial for balance sheet management, even if they aren't recurring revenue. The announced sale of the Warehouse Automation business, which falls under Industrial Technologies, was for $230 million. The expected net proceeds after transaction costs were about $160 million, earmarked primarily to reduce debt. This transaction is expected to bring the net leverage ratio below 3.0x.

The revenue streams can be summarized by their nature:

• Direct product and service sales from Memorialization and Industrial Technologies segments.
• Equity-method income from the 40% retained stake in Propelis.
• One-time cash realization from the sale of the Warehouse Automation business.

Finance: draft 13-week cash view by Friday.