Marinemax, Inc. (fl) · NYSE:HZO
Marinemax, Inc. (fl) — Q4 2024 Earnings Presentation
26 slides from Marinemax, Inc. (fl)'s earnings presentation, Oct 31, 2024
Slide 1: Q4 and FY 2024 Financial Results
Q4 and FY 2024 Financial Results October 31, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Information contained in this presentation, other than historical information, should be considered forward-looking and subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains “Adjusted net income” and “Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization” (“Adjusted EBITDA”), which are non-GAAP financial measures as defined under applicable securities legislation. In determining these measures, the
Slide 4: Our Strategic Ambition
O U R S T R AT E G I C A M B I T I O N Be the premier global boating and yachting leader with an Delivering Top unmatched, diverse Tier Performance portfolio of recreational in Marine Market offerings.
Slide 5: FY2024 Financial Highlights
FY2024 Financial Highlights $2.4B 1% $1.65 $2.13 $15.49 33.0% Revenue Same Store Sales Diluted EPS Adjusted Diluted Per Share Gross Profit +2% YOY Growth EPS* Tangible Net Margin Worth What sets us apart: • Unmatched ecosystem of premium Marine products & services - boats, yachts, marinas, financing
Slide 6: Acquiring & Integrating Successful Businesses
Acquiring & Integrating Best-in-Class Bringing Innovative Successful Businesses Marketing Technology to Market To add strong leadership, synergy To help drive sales To improve customer experience and opportunities and revenue growth above industry trends outpace the industry Creating Customers Prude
Slide 7: Strengthening the Portfolio, Driving More Efficient Operations
Strengthening Driving More Improving Our the Portfolio Efficient Operations Financial Profile ✓ Completed 20 acquisitions since ✓ Rationalized store base in support ✓ Achieved >30% gross margins vs. 2019 – roughly $700M of high- of expense alignment goals historical & industry standard of margin rev
Slide 8: Denotes years of experience at MarineMax
8 Denotes years of experience at MarineMax
Slide 9: Premium Brands
Premium Brands MG Max AZImMut @acua @ OcEAN ALEXANDER = GALEON nym wider YACHTS A) CRUISERS YACHTS StaknyyZ. WHALER J HARRIS BERTRAM GRADY-WHITE injrepid SAxDoOR —roweRnsoars MasterCraft @ AVIARA
Slide 10: Strategic priorities by business line
Retail Store Superyacht IGY New Wave Finance & Product Operations Services Marinas Innovations Insurance Services Manufacturing Strategic Innovate/ Early-stage Growth & Optimize Synergies Focused Growth Focused Growth Focus Value Creation Growth Efficiencies Strategic Generate Create synergies to Op
Slide 11: Creating a Seamless Digital Experience for Customers
Creating a Seamless Digital Experience for Customers eS AS 6 .— —4 = Leveraging digital and Introduced award-winning Soundings Trade Only Newly formed entity, New marketing analytics, MarineMax App, to give "Most Innovative Wave Innovations, plus, artificial quick, easy access to Marine Company” Awa
Slide 12: 20 acquisitions since 2019
Retail Store Superyacht IGY New Wave Finance & Product Operations Services Marinas Innovations Insurance Services Manufacturing 20 acquisitions since 2019: ▪ $700 million of combined revenue ▪ Skewed toward higher margin 12
Slide 13: Achieving Growth Through
Achieving Growth Through: • Acquisitions of higher-margin businesses • Brand expansions • Market share gains • Marinas and higher- margin businesses 13
Slide 14: Q4 2024 Results
Comparable store sales increased 1%, outperforming the industry, which saw a double-digit unit decline in fiberglass boat sales YoY Gross profit margin decreased by 190 basis points, primarily related to mix Adjusted EBITDA contraction reflected lower gross profit as well as higher SG&A and interest
Slide 15: Fiscal 2024 Results
Revenue decreased by 5% YoY on a 5% decline in comparable- store sales, reflecting lower boat sales primarily due to Hurricane Helene Gross profit margin remained flat at 34.3%, driven by increased contribution of higher-margin lines of business Adjusted EBITDA decreased by 21% on lower sales and gr
Slide 16: Inventory position
Higher inventories YoY partly reflect the lower revenue as a result of Hurricane Helene Inventory aging position remains meaningfully better than the industry as a whole Comparable unit inventories on a same-store basis are ~30% below 2019 levels 16
Slide 17: Priorities for Use of Cash
Priorities for Use of Cash Investing in Growth Opportunities Strategic Acquisitions Maintain Strong Balance Sheet Capex Facilities and Technology Strategies Opportunistic Share Repurchases | i a {iE :. H = Pe eee | iene ne — Feahy rT | 4 \ s
Slide 18: Acquiring & Integrating Successful Businesses
Acquiring & Integrating Best-in-Class Bringing Innovative Successful Businesses Marketing Technology to Market To add strong leadership, synergy To help drive sales To improve customer experience and opportunities and revenue growth above industry trends outpace the industry Creating Customers Prude
Slide 19: Appendix
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Slide 20: Recent Changes
Recent Changes Rebecca White Bonnie Biumi G. Clinton Moore Progress with Board Refreshment Chairperson of Board & Audit Compensation Nominating Committee Chair Committee Chair Committee Chair • Resized Board to peer standard of 9 • Reduced average age and tenure to 64 and 6.7 years • Added specific
Slide 21: Board composition and diversity
Tenure Age Gender Ethnic Diversity Independence 7 YRS 64 YRS 44% 11% 78% average tenure of average age of of director of director of director director nominees director nominees nominees are nominees are nominees are female ethnically diverse independent 1-4 years 5-8 years <60 years Female Ethnical
Slide 22: Sustainability initiatives
• Sustainable Sourcing: We seek out manufacturers committed to sustainability, environmental stewardship, and low-emission operations wherever feasible. • Azimut Yachts: Awarded ISO 14001 certification for reducing environmental impact and adopted RINA Green Plus notation to maximize eco-compatibili
Slide 23: Community initiatives
• Breast Cancer Awareness Partnership: Partnered with the American Cancer Society to support Breast Cancer Awareness Month and offer cancer screenings across our retail operations. • Employee Volunteerism: Providing team members with opportunities to volunteer with Habitat for Humanity on housing pr
Slide 24: Supplemental Financial Information: Adjusted EBITDA
MarineMax, Inc. and Subsidiaries Supplemental Financial Information (Amounts in thousands) (Unaudited) Three Months Ended Fiscal Year Ended September 30, September 30, 2024 2023 2024 2023 Net income attributable to MarineMax, Inc. $ 3,999 $ 15,141 $ 38,066 $ 109,282 Interest expense (excluding floor
Slide 25: Supplemental Financial Information: Adjusted Net Income
MarineMax, Inc. and Subsidiaries Supplemental Financial Information (Amounts in thousands, except share and per share data) (Unaudited) Three Months Ended Fiscal Year Ended September 30, September 30, 2024 2023 2024 2023 Net income attributable to MarineMax, Inc. $ 3,999 $ 15,141 $ 38,066 $ 109,282
Slide 26: MarineMax
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