MasterCraft Boat Holdings, Inc. · NASDAQ:MCFT
MasterCraft Boat — Q1 FY2017 Earnings Presentation
14 slides from MasterCraft Boat's earnings presentation, Nov 10, 2016
Slide 1: Fiscal 2017 First-Quarter Results
FISCAL 2017 FIRST-QUARTER RESULTS November 10, 2016
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events and include, without limitation, projections, forecasts and e
Slide 3: Strategic Overview
STRATEGIC OVERVIEW MasterCraft
Slide 4: Quarterly Highlights
QUARTERLY HIGHLIGHTS Net sales increased 8.4% to $60.7 million Gross margin up 100 basis points to 29.3% Adjusted EBITDA up 24.8% to $13.3 million Adjusted EBITDA margin up 280 basis points to 21.9% Net income totaled $7.0 million, up from net loss of $1.3 million in the prior- year period
Slide 5: Market Update
MARKET UPDATE • Boat market continues to expand • Performance Sport Boat segment of the market is the fastest growing segment • Innovation is significantly driving growth, in particular, the wake surfing technology • MasterCraft continues to focus on profitable market share in the PSB segment • Gros
Slide 6: Leading Market Share Position
ROLLING QUARTERLY LTM MARKET SHARE THROUGH JUNE 2016 (1) LEADING MARKET 22.6% 22.4% 21.9% 22.1% 21.7% 21.2% 21.9% SHARE POSITION 20.5% 20.8% 21.3% 20.6% 21.0% 20.9% 20.9% Just starting to realize 17.1% 17.3% 16.2% 16.3% 16.3% 15.9% 16.1% benefits of many recent initiatives that new management has ex
Slide 7: Overview of Growth Opportunities
1 Continue to Develop New and Innovative Products in Core Markets 2 Penetrate the Entry-Level and Mid-Line Segment of the Performance Sport Boat Category OVERVIEW 3 OF GROWTH Capture Additional Share from Adjacent Boating Categories OPPORTUNITIES 4 Continuous Operational Improvement to Drive Margin
Slide 8: Financial Highlights
FINANCIAL HIGHLIGHTS MasterCraft
Slide 9: Fiscal 2017 First-Quarter Results
FISCAL 2017 FIRST-QUARTER RESULTS ($ in millions, MasterCraft only) METRIC FY 2017 Q1 FY 2016 Q1 Units Sold 718 682 Q over Q Growth % 5.3% 9.8% Net Sales $60.7 $56.0 Q over Q Growth % 8.4% 14.6% Adjusted EBITDA $13.3 $10.7 Q over Q Growth % 24.8% 33.8% Margin % 21.9% 19.1% ___________________ Note:
Slide 10: Cash Conversion Cycle
CASH CONVERSION CYCLE ($ in thousands) FY 2014 FY 2015 FY 2016 FY 2017 Q1 Net sales $177,587 $214,386 $221,600 $60,689 Cost of sales $139,975 $163,220 $160,521 $42,880 Beginning Inventory $11,316 $11,685 $11,541 $13,268 Ending Inventory $11,685 $11,541 $13,268 $12,596 Beginning Accounts Receivable $
Slide 11: Fiscal 2017 Guidance
METRIC FYE 2017 TARGET Revenue Growth Low to mid-single digit FISCAL 2017 GUIDANCE Adjusted EBITDA Margin (1) Growth from FY 2016, 18.6% to low 19’s (2) EPS Growth Mid to high-single digit _____________________ Note: These goals are forward-looking, are subject to significant business, economic, reg
Slide 12: Appendix
APPENDIX
Slide 13: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION The following table sets forth a reconciliation of adjusted EBITDA to net income as determined in accordance with GAAP for the periods indicated: (Dollars in thousands, unaudited) FY 2017 Q1 FY 2016 Q1 Net Income (Loss) $6,983 $(1,323) Income Tax Expense 4,041 1,033 In
Slide 14: Adjusted Net Income Reconciliation
ADJUSTED NET INCOME RECONCILIATION The following table sets forth a reconciliation of Adjusted net income to net income as determined in accordance with GAAP for the periods indicated: (Dollars in thousands, unaudited) FY 2017 Q1 FY 2016 Q1 Net Income (Loss) $6,983 $(1,323) Income Tax Expense 4,041
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