Bob Evans Farms (BOBE) 8-K Regulation FD Disclosure

Investor

Presentation

June 2013 (revised  6-25-13)

Steve Davis, Chairman and Chief Executive Officer

Paul DeSantis, Chief Financial Officer

Scott Taggart, VP, Investor Relations

Exhibit 99.1

Safe Harbor Statement

2

Under the Private Securities Litigation Reform Act of 1995

Certain statements in this presentation that are not historical facts are forward-looking statements.  Forward-looking statements involve various

important

assumptions,

risks

and

uncertainties.

Actual

results

may

differ

materially

from

those

predicted

by

the

forward-looking

statements because of

various factors and possible events, including, without limitation:

Negative publicity or litigation regarding allegations of food-related illness,

Failure to achieve and maintain positive same-store sales,

Changing business conditions, including energy costs,

Overall macroeconomic conditions that may affect consumer spending, either nationwide or in one or more of the Company’s major markets

Competition in the restaurant and food products industries,

Ability to control restaurant operating costs, which are impacted by market changes in the cost or availability of labor and food, minimum wage and

other employment laws, health care costs, fuel and utility costs,

Changes in the cost or availability of acceptable new restaurant

sites,

Adverse weather conditions in locations where we operate our restaurants,

Consumer acceptance of changes in menu offerings, price, atmosphere and/or service procedures,

Consumer

acceptance

of

our

restaurant

concepts

in

new

geographic

areas,

and

Changes in hog and other commodity costs.

We also bear the risk of incorrectly analyzing these risks or developing strategies to address them that prove to be unsuccessful.

Certain risks, uncertainties and assumptions are discussed under

the heading “Risk Factors”

in Item 1A of our Annual Report on Form 10-K for the fiscal

year ended April 26, 2013.  We note these factors for investors as contemplated by the Private Securities Litigation Reform Act of 1995.  It is impossible to

predict or identify all such risk factors.  Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. 

Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update any forward-looking statement

to reflect circumstances or events that occur after the date on which the statement is made to reflect unanticipated events.  Any further disclosures in our

filings with the Securities and Exchange Commission should also be consulted.  All subsequent written and oral forward-looking statements attributable to

us or any person acting on behalf of the company are qualified by the cautionary statements in this section.

The Company uses non-GAAP financial measures within this presentation. 

These financial measures are used by management to monitor and evaluate the

ongoing performance of the Company.  The Company believes that the

additional measures are useful to investors for financial analysis.  However,

non-GAAP measures are not in accordance with, nor are they a substitute for,

GAAP measures. 

Please refer to the Company’s June 3, 2009, and June 5, 2013, Form 8-K filings

for details and reconciliations concerning these adjustments.

Non-GAAP Financial Measures

3

GROWING

OUR

REGIONAL

BRANDS

INTO

POWERFUL

NATIONAL

BRANDS

COMPANY FACT SHEET

FISCAL 2013 Q4

NASDAQ: BOBE

NEW RESTAURANTS

FY’13          2

FY’14E        up to 4

560 Restaurants

19 States

As of 4/26/13

REMODELS

FY’14E     233

AVERAGE UNIT VOLUME

$1.74 million (FY’

13)

“Discover farm-fresh goodness”

FOUR KEY LINES OF BUSINESS

Sausage, Refrigerated Sides, Frozen and Food Service

Sold at 30,000+ retail locations in 50 states, Ontario and Mexico

“Come see what’s cooking”

Bob Evans

Bob Evans/Owens

Bob Evans Growth Markets

2

Bob

Evans

Farms,

Inc.

is

comprised

of

two

key

business

segments:

Bob

Evans

Restaurants

and

BEF

Foods.

Bob Evans

Restaurants operates 560 full-service restaurants located in 19 states with a heavy concentration in the Midwest.  BEF

Foods produces and distributes refrigerated side dishes, pork sausage and a variety of refrigerated and frozen

convenience food items through retail and food service channels.

.

BOB EVANS RESTAURANTS

5

Powerful  NATIONAL BRANDS

Make Our REGIONAL BRANDS

BEF FOODS, INC.

Source: IFMA Forecast & Outlook ‘82-’11

Bob Evans is Well-Positioned to Capture

Both Grocery and Restaurant Consumption

Percent Dollars Spent Over Time

6

$12

Billion+

(The value of a

single share

point)

35%

40%

45%

50%

55%

60%

65%

82

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99

00

01

02

03

04

05

06

07

08

09

10

11

Restaurant

Grocery

Our Shareholder Value Creation Goal:

8 to 12 percent annual long-term EPS growth

7

TRANSFORM

OUR CORE

BUSINESSES

TO ENABLE

EXPANSION

DRIVE

SHAREHOLDER

VALUE WITH

DISCIPLINED

CAPITAL

ALLOCATION

SELECTIVELY

INVEST IN

HIGH R.O.I.C.

GROWTH

OPPORTUNITIES

(Internal & External)

8

Russell 2000

Dow Jones

S&P 500

BOBE

NASDAQ

BOBE’s

Long

Term

Share

Performance

A Track Record of Balanced Capital Allocation

9

Dividends

$270M

$270M

$401M

$401M

$110M

$110M

Share

Repurchases

Debt

Repayment

$163M

$163M

CapEx

Dividends

$52M

$52M

$30M

$30M

Share

Repurchases

$124M

$124M

Acquisition

CapEx

$63M

$63M

Fiscal 2008-2012

Fiscal 2008-2012

Fiscal 2013

Fiscal 2013

Annual Dividend Rate:  FY 2008 –

FY 2013

10

92% Increase

$0.56

$0.60

$0.68

$0.78

$0.95

$1.075

FY 2008

FY 2009

FY 2010

FY 2011

FY 2012

FY 2013

Balanced Capital Allocation Drives Shareholder Value

11

Investing approximately $175 to $200 million in capital expenditures during

fiscal

2014

to

support

continued

transformation

of

our

businesses,

including:

Farm Fresh Refresh remodels, new restaurants, growth projects within BEF Foods,

corporate campus, ERP implementation, and cost savings initiatives.

Dividend

yield

is

among

the

top

restaurant

dividend

payers,

and

attractive

relative to our peer group, the majority of which do not pay a dividend.

Returned

more

than

$90

million

to

shareholders

in

the

form

of

dividends

and share repurchases during fiscal 2013.

Strategic

use

of

debt

(1.5-2.0x

debt/EBITDA)

to

enable

the

company

to

invest

efficiently.

Disciplined

acquisition

program

to

drive

revenue

and

margin

growth.

Bob Evans Farms Inc. is well positioned to invest in

profitable growth and

reward shareholders with

disciplined dividend and share repurchase programs.

Transformational Strategies and Investments

Initiated in Recent Years Culminate in Fiscal 2014

12

Growth investments must generate a blended return exceeding our 12% cost of capital.

SALES AND PROFIT GROWTH STRATEGIES

Bob Evans Restaurants:

Drive top line through sales and value layers, Farm Fresh Refresh remodels,

and new restaurants in core and new markets.

BEF Foods: 

Invest in organic and inorganic growth opportunities to capitalize on strong

returns generated by this segment.

Corporate Synergies:

Drive sales growth and brand awareness through transformational investments

and cross-segment strategies, including:  cross-marketing, additional in-sourcing,

and product development between Bob Evans Restaurants and BEF Foods. 

Also, achieve margin improvement through implementation of Lean operating

principles to drive cost innovation across the organization. 

Mimi’s Café

Divestiture Improves Adjusted

Operating Margin Profile

FY 2004 (pre-Mimi’s)

FY 2013

1

FY 2014 Guidance

2

Recent business transformation:

1

FY 2013 adjusted operating margin is a non-GAAP measure and includes  $149.5 million of adjustments comprised of  $5.1 million, $168.3 million, and -$23.9 million, for

Bob Evans Restaurants, BEF Foods, and Mimi’s Café, respectively.  

2

For additional details concerning FY 2014 guidance, see registrant’s Form 8-K filed on June 5, 2013.

BER

BEF

Consol

Mimi’s

8.0-8.5%

8.5-9.0%

8.1-8.7%

8.2%

8.8%

6.6%

-2.3%

13

BER

BEF

Consol

BER

BEF

Consol

9.7%

8.2%

9.5%

•

Farm

Fresh

Refresh

Program

•

Kettle

Creations

acquisition

•

BEF

Foods’

plant

investments

•

ERP

implementation

Business

Segments

(FY

2013)

14

26%

*

74%

*

* Excludes Mimi’s Café

segment (sold 2-15-13)

15

“Come see what’s cooking ”

560 restaurants in 19 states

as of 4/26/13

Full-service family restaurants featuring a

wide variety of menu items for both on-and-off premise dining

TM

Net

Sales

(FY

2013)

$981

million

(74%

of

total

*

)

Average Annual Unit Sales (FY 2013)  $1.74 million

Overview:  Bob Evans Restaurants

ALL THREE DAY PARTS SERVED (4Q FY 2013)

Breakfast

Lunch

Dinner

16

31%

38%

31%

Avg. Dine-In Guest Check/Per Guest (4Q FY 2013)  $17.80/$9.10

Average Carryout Check (4Q FY 2013)  $15.11

* Excludes

Mimi’s Café

segment

(sold

2-15-13)

17

Build bench strength and staffing

to enable profitable expansion

Drive profitable guest counts –

dine-in and

off-premise (bakery, carryout, and catering)

Improve controllable expenses: Cost of Sales,

Cost of Labor, Direct Operating Expenses

Elevate the guest experience through

execution of “Best for My Guest”

programs

Complete Farm Fresh Refresh remodels and

prepare for accelerated new restaurant growth

FY 2014: Vital Few Priorities

FY 2014: Farm Fresh Refresh Program Complete

18

Approximate % of Chain Remodeled by Fiscal Year

ROI ~20%+

SSS% outperformance

vs. non-remodeled

restaurants

Average capital investment per remodeled restaurant:  ~$225k

(32 units)

(87 units)

(195 units)

(233 units)

FY11

FY12

FY13

FY14E

5%

20%

100%

56%

Farm Fresh Refresh:  Consistent Outperformance

19

Farm Fresh Refresh Outperformance vs. Non-remodeled Restaurants

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

FFR Year 1

FFR Year 2

Not Remodeled

Full Realization of Farm Fresh Refresh     

Program Benefits Begin in FY 2015

20

2012    2013    2014E 

2012    2013    2014E 

2015E

Fiscal Year:

Fiscal Year:

# of remodels

87      195       233

0

# of closed days

653

1,337    1,472

0

Financial Impact ($ millions):

Assumptions:

est. closed day

($2.7)

($6.3)  ($7.5)

$0.0

est. pre-opening      ($1.6)

($3.4)  ($3.8)

sales impact

expense

$0.0

New Exterior Design

21

Original Exterior Design

Restaurant Remodels

22

New Center Entrance

Original Center Entrance

Restaurant Remodels

Restaurant Remodels

23

New Expanded Dining Room

New Counter

Restaurant Remodels

24

New Bakery

New Carryout

“Taste of the Farm   ”

Retail and Carryout Areas

Designed to Drive Sales Layers with On-Brand Offerings

®

Bob Evans’

Off-Premise Opportunity

25

Annual Consumption of Restaurant Meals (per capita)

Dine-In

39%

Off-Premise

61%

QSR

74%

FULL

SERVICE

15%

Source:

NPD

Group

-

12

months

ending

3/31/13

FAMILY

SEGMENT

9%

Off-Premise Sales Layers

26

CATERING

FY 2013 Growth / Mix

20.4% / 0.5%

FY 2013 Growth / Mix

30.5% / 1.4%

BAKERY

CARRYOUT

FY 2013 Growth / Mix

7.4% / 11.1%

27

Bold Goal: Drive Off-Premise to 25% of Sales Mix

Off-Premise Sales Mix and Growth % by Year

Sales Mix

Growth %

8.0%

7.5%

6.5%

7.0%

8.5%

9.0%

9.5%

12.0%

11.5%

11.0%

10.5%

10.0%

2006

2007

2008

2009

2010

2011

2012

2013

Catering/Carryout

Bakery

Family Meals to Go

BER Bakery: A Sales Layer with $75M+ Potential

28

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2012

2013

2014E

2015E

2016E

2017E

2018E

Incorporating a variety of elements to achieve estimated weekly

bakery sales of $2,500 per restaurant by FY 2018.

Farm

Fresh

Refresh

Surprise

&

Delight

Bread

Expansion

Pie Reinvention

Innovation

$5 Platform: A Sales Layer with $40M+ Potential

29

Soup Success

Flavor Expansion

New Occasions

Making Bob Evans a destination for home meal replacement.

$0

$500

$1,000

$1,500

$2,000

2012

2013

2014E

2015E

2016E

2017E

2018E

Dine-In Value Sales Layers

30

BREAKFAST

The Farmer’s Choice

Breakfast currently drives

~ $48 million / 4.9%

of annual revenue.

DINNER

3-Course Dinners

currently drive

~$71 million / 7.3%

of annual revenue.

LUNCH

$6 Farmhouse Deals

currently drive

~ $34 million / 3.5%

of annual revenue.

Beverages: A $20M+ Incremental Sales Opportunity

31

Executing a multi-faceted beverage platform to

achieve 90% beverage incidence by FY 2018.

76%

78%

80%

82%

84%

86%

88%

90%

92%

FY 2012

FY 2013

FY 2014E

FY 2015E

FY 2016E

FY 2017E

FY 2018E

BOLD Coffee

Expanded Soda

Options

Shakes &

Smoothies

Frozen Coffee

Fresh Lemonade

& Fruit Fizzes

Beverage

Destination

Bakery

Farm

Fresh

Refresh:

Enabling

an

Aggressive

Off-Premise Strategy

32

Dine-in

Carryout

Catering

Retail

Total

(embedded in dine-

in and carryout

sales mix above)

2009

90.1%

7.9%

0.0%

2.0%

100.0%

0.6%

Total off-premise sales to reach 25% of sales mix by fiscal 2018.

2013

87.7%

11.1%

1.4%

0.5%

0.7%

100.0%

2018E

~75%

25%

~7%

100.0%

Back of the House Improvements Required to

Drive Further Guest Satisfaction Gains

90

85

80

75

70

Overall Guest Satisfaction

Speed of Service

90

85

80

75

70

82.7

84.4

88.0

88.4

71.7

77.9

83.0

83.1

Farm

Fresh

Refresh

2.0

Designed

to

Further

Elevate

the

Guest

Experience

through

Back

of

the

House

Upgrades

33

FY10

FY11

FY12

FY13

New Restaurant Opening Strategy

34

CONTIGUOUS MARKETS

FILL-IN EXISTING MARKETS

Up to 4 new restaurants planned for FY 2014.

Up to 4 new restaurants planned for FY 2014.

Up to 10 new restaurants annually beginning FY 2015.

Up to 10 new restaurants annually beginning FY 2015.

New Albany, IN

Fort Smith, AR

Driving Sales Across Multiple Digital Platforms

BOBEVANS.COM

9,493,000 Visits  +52% YOY

(calendar year 2012)

Email Database

850,000 Subscribers

+10% YOY

(calendar year 2012)

Online Ordering

336,500 Orders (calendar year 2012)

Mobile Site

865,000

+34% YOY

(calendar year 2012)

Mobile App

96,500 Orders

+200% YOY

(calendar year 2012)

YouTube Channel

323,000 Video Views (calendar year 2012)

35

Foursquare

288,400 Check Ins

(calendar year 2012)

Facebook

216,700 Fans +55% YOY

(calendar year 2012)

36

Instagram

91 followers

(as of June 1, 2013)

Twitter

8,200 Followers

(calendar year 2012)

Yammer

Internal Sales Blog

Social

Media:

A

Key

Component

of

Our

Digital

Strategy

37

“Discover farm-fresh goodness

”

TWO BRANDS

distinct geographic strengths

TM

Overview:  BEF Foods

38

FOUR KEY LINES OF BUSINESS

Sausage, Refrigerated Side Dishes, Frozen and Food Service

Sold at 30,000+ retail locations in 50 states, Ontario and Mexico

Sausage

sausage sales mix (all categories):  43%

sausage sales mix (all categories):  30%

FY 2009 Sales Mix (pounds)

Side Dishes

Other

Frozen

Food Service

Side Dishes

Other 3%

Frozen 5%

Food

Service

FY 2013 Sales Mix (pounds)

Net Sales (FY’13) $349 million

26% of total (excluding

Mimi’s

Café

Segment)

Sausage

39

Expand “in-source”

supplier relationships for the

restaurant segments and the food service industry

Drive sales through new authorizations

and new product innovations

Drive margin expansion through Lean efficiencies

Optimize our plant and distribution network

Drive best-in-class ROIC

FY 2014: Vital Few Priorities

Number of Grocery Stores Carrying at least

one BEF Foods’

Product SKU

40

GOAL

Significant Growth as We Increase Number

of Items Sold (i.e. the “Top 20 Items”)

Average # of

Product SKUs

per Location

~12

~12

12,000

30,000+

40,000

2005

2013

2015E

Drive to 40,000 –

Building from a Solid Foundation

41

30,000

Stores and

Growing!

1

FY 2009, FY 2012, and FY 2013 adjusted operating income are non-GAAP measures and include adjustments of  $0.4 million, ($0.8) million and $168.3 million, respectively.

For additional detail concerning these adjustments, see registrant’s June 3, 2009, and June 5, 2013, Form 8-K filings.

Launched lean mfg. program

Transitioned from DSD

to warehouse

Expanded side dish products

Optimized sausage plant

network

42

Adjusted Operating Income ($ millions)

FY 12

No Mitigation

Restructuring Initiatives at BEF Foods Offset a 40%

increase in Sow Costs from 2009 to 2012

$16.0

$19.7

$30.8

FY 09

FY 12

FY 13

$2.4

1

Vertical Integration of Refrigerated Sides is a Key Component

of our 300-350 bps Operating Margin Improvement Target

43

Accelerated product

innovation

Proprietary manufacturing

capability

Opportunities to drive food

service business during off-

peak production

Profitable growth reduces

reliance on sausage business

Opportunity in fiscal 2014 and

beyond:

Bring Lean manufacturing

processes developed in our

sausage facilities to our other

product lines including

refrigerated side dishes.

Acquisition of Kettle Creations

Our

Initiatives

are

Expected

to

Drive

300

–

350

Basis Points of Margin Improvement by FY 2018

44

Growth investments must generate a blended return exceeding our 12% cost of capital.

SALES AND PROFIT GROWTH STRATEGIES

Bob Evans Restaurants:

Drive top line through sales and value layers, Farm Fresh Refresh remodels,

and new restaurants in core and new markets.

BEF Foods: 

Invest in organic and inorganic growth opportunities to capitalize on strong

returns generated by this segment.

Corporate Synergies:

Drive sales growth and brand awareness through transformational investments

and cross-segment strategies, including:  cross-marketing, additional in-sourcing,

and product development between Bob Evans Restaurants and BEF Foods. 

Also, achieve margin improvement through implementation of Lean operating

principles to drive cost innovation across the organization. 

Confidence in Future Margin Improvement

Backed by Historical Productivity Performance

45

Fiscal Yr.

Fiscal Yr.

2013

2009     Improvement

Consolidated Cost of Sales

30.3%

30.7%

40bps

Consolidated Op. Wages

31.7%

34.1%

240bps

Total Prime Costs

62.0%

64.8%

280bps

Sources of Recent Cost

Savings Initiatives Reflect

Enterprise-Wide Focus on

Productivity.  

supply chain

cost of sales

labor

Categorization of cost savings initiatives

reflects company estimates.

54%

23%

23%

Proactively Addressing Headwinds to Achieve

8 to 12% Long-Term Annual EPS Growth

46

•

Health Care Costs

•

Commodity Costs

•

ERP Implementation

•

Depreciation (from growth

projects)

•

Minimum Wage Increases

•

Carryover Costs from Mimi’s Café

Divesture

Headwinds

•

Continued Supply Chain Optimization

•

Enhanced Restaurant Workforce

Management Systems

•

Continued Back-of-the-House

Optimization

•

Interest Expense Savings from Debt

Restructuring

•

BEF Foods’

Plant Consolidation

(announced  May 2012)

•

Company-wide Adoption of Lean

Management Principles

Offsets

Future Initiatives to Offset Further

Headwinds

47

•

New Restaurant Prototype

•

Farm Fresh Refresh “2.0”

–

Back-of-the-House Redesign

•

Acquisitions

Other Projects:

•

Marketing Spending (Bob Evans Restaurants & BEF Foods)

•

Menu Optimization (Bob Evans Restaurants)

•

Trade Spending (BEF Foods)

•

SKU Rationalization (BEF Foods)

Optimization Projects Enabled by ERP:

48

FY 2014 Outlook

FY 2014 Outlook

49

$2.60 to $2.67

Earnings Per Share:

•

Same-store sales up 1.0 to 2.0 percent; net sales up 1.5 to 2.5 percent

•

~233 Farm-Fresh Refresh remodels; up to 4 new restaurants

•

Commodity inflation of 2.0 to 3.0 percent

•

Operating margins of 8.0 to 8.5 percent

Key Assumptions*:

•

Overall net sales of $380 to $400 million

•

Sales growth driven by new product introductions and distribution gains in both

retail and food service channels

•

Average sow costs of $60-$65 per hundredweight

•

Operating margins of 8.5 to 9.0 percent

•

Net sales of approximately $1.4 billion

•

Depreciation and amortization of $70 to $80 million

•

Net interest expense of $6.0 to $6.5 million

•

Effective tax rate of approximately 34 to 35 percent

•

Diluted weighted average annual share count of 27.9 million

•

Capital expenditures of approximately $175 to $200 million

* For further detail concerning fiscal 2014 earnings guidance, refer to the company’s 4Q fiscal 2013 earnings release issued June 4, 2013, available

at the Company’s website at http://www.bobevans.com/investors/news.aspx, or within the Company’s June 5, 2013, Form 8-K filing.

Our Shareholder Value Creation Goal:

8 to 12 percent annual long-term EPS growth

50

TRANSFORM

OUR CORE

BUSINESSES

TO ENABLE

EXPANSION

DRIVE

SHAREHOLDER

VALUE WITH

DISCIPLINED

CAPITAL

ALLOCATION

SELECTIVELY

INVEST IN

HIGH R.O.I.C.

GROWTH

OPPORTUNITIES

(Internal & External)

51

Fiscal Yr

Estimated Impact

($ millions)

Capex

Expense

Benefits

- RFP Completed and Software Purchased

- Team Formulation

(5)

$        

(1)

$        

-

$     

- Detailed Project Planning

- Phase 1

- Core GL, Manufacturing, Procurement

(13)

$     

(4)

$        

-

$     

- Phase 2 Begins

- Order to Cash, HR/Payroll, Planning

- Phase 2 Completed

(13)

$     

(6)

$        

3

$         

- Learning Management, Detailed Reporting

- Phase 3 Implementation

- Transportation, Product Lifecycle, Others

(7)

$        

(7)

$        

6

$         

- Prioritized Based on Detailed Project Plan

- Implementations Complete

-

$     

(6)

$        

7

$         

- Impact of Benefits Phased in

2017

Key Actions

2013

2014

2015

2016

ERP Implementation Schedule

52