Lci Industries · NYSE:LCII
Lci Industries — Q4 2020 Earnings Presentation
12 slides from Lci Industries's earnings presentation, Feb 9, 2021
Slide 1: Fourth Quarter and Full Year 2020 Earnings Conference Call
LCI INDUSTRIES LCI Industries Fourth Quarter and Full Year 2020 Earnings Conference Call February 9, 2021 1
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
LCI INDUSTRIES Forward-Looking Statements and Non-GAAP Financial Measures This presentation contains certain “forward-looking statements” with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportuniti
Slide 3: Fourth Quarter and Full-Year 2020 Highlights
LCI INDUSTRIES Fourth Quarter and Full-Year 2020 Highlights Achieved $2.8 billion in annual revenue, the highest in LCI’s history, along with double-digit adjusted EBITDA growth, supported by strong performance across the business Reached a milestone in LCI’s long-term diversification strategy, with
Slide 4: RV OEM
LCI INDUSTRIES RV OEM • Retail demand continued its strong momentum throughout the quarter, expected to remain at elevated levels into 2021 and beyond ◦ Q4 2020 RV OEM revenues up 29% YoY (wholesale shipments up 38% YoY) ◦ FY 2020 RV OEM revenues up 3% YoY (wholesale shipments up 9% YoY) • New produ
Slide 5: Expanding Markets
LCI INDUSTRIES Expanding Markets Executing on our diversification strategy to reach goal of 40% North American RV OEM by 2022 Aftermarket Adjacent Markets International ◦ Q4 2020 sales up 129% YoY ◦ Q4 2020 sales up 20% YoY ◦ Q4 2020 sales up 60% YoY ◦ Further invested into our customer ◦ Completed
Slide 6: Innovation Highlights
LCI INDUSTRIES Innovation Highlights Innovation: a critical part of our strategy ◦ R&D expertise and innovation remains a core component of LCI’s long-term strategy ◦ Expanding OneControl capabilities to integrate into customer support; success continues as customers increasingly seek technologicall
Slide 7: Growth Strategy
LCI INDUSTRIES Growth Strategy Integrating and Realizing Synergies from New Acquisitions ◦ LCI remains focused on realizing new synergies from our most recent acquisitions, preserving cash, and paying down debt in the near-term ◦ Maintaining a robust pipeline of M&A targets split evenly across all m
Slide 8: Q4 2020 Financial Performance
LCI INDUSTRIES Consolidated Net Sales by Market YoY Q4 2020 Financial Performance +29% RV OEM (in thousands) +20% ADJACENT OEM +129% (in thousands) (in thousands) AFTERMARKET SEGMENT +60% 8 INTERNATIONAL Additional information regarding adjusted EBITDA, as well as reconciliation of this non-GAAP fin
Slide 9: FY 2020 Financial Performance
LCI INDUSTRIES Consolidated Net Sales by Market YoY FY 2020 Financial Performance +3% RV OEM (in thousands) +4% ADJACENT OEM +125% (in thousands) (in thousands) AFTERMARKET SEGMENT +62% 9 INTERNATIONAL Additional information regarding adjusted EBITDA, as well as reconciliation of this non-GAAP finan
Slide 10: Liquidity and Cash Flow
LCI INDUSTRIES Liquidity and Cash Flow As of and for the Twelve Months Ended December 31, ($ in millions) 2020 2019 Cash, Cash Equivalents $51.8 $35.4 Remaining availability under Debt Facilities(1) $352.2 $481.8 Capital Expenditures $57.3 $58.2 Dividends $70.4 $63.8 Debt / Net Income (TTM) 4.7x(2)
Slide 11: Reconciliation of Non-GAAP Measures
Appendix A LCI INDUSTRIES Reconciliation of Non-GAAP Measures The following table reconciles net income to EBITDA and Adjusted EBITDA. Three Months Ended Twelve Months Ended December 31, December 31, 2020 2019 2020 2019 (In thousands) Net income $ 48,693 $ 28,807 $ 158,440 $ 146,509 Interest expense
Slide 12: Q&A
LCI INDUSTRIES Q&A