THOR Industries, Inc. · NYSE:THO
THOR Industries — FY2021 Earnings Presentation
18 slides from THOR Industries's earnings presentation, Sep 27, 2021
Slide 1: Fiscal Year & Fourth Quarter 2021 Financial Results
FISCAL YEAR & FOURTH QUARTER 2021 FINANCIAL RESULTS www.thorindustries.com
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation includes certain statements that are “forward-looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 193
Slide 3: Record Results for Fiscal 2021
RECORD RESULTS FOR FISCAL 2021 These outstanding results are a testament to our team’s ability to successfully accelerate production over the course of the fiscal year to meet surging CONSOLIDATED NET SALES market demand while continuing to maintain quality, ($ billions) navigate supply chain challe
Slide 4: Fiscal Year 2021
FISCAL YEAR 2021 NORTH AMERICAN INDEPENDENT DEALER INVENTORY OF THOR PRODUCTS AT HISTORIC LOW Net Sales $12.32 BILLION ** +50.8% YoY Growth * European $3.20 bn Other * Includes 500 units of Tiffin products 26.0% NA Motorized $0.23 bn 1.8% ALL-TIME RECORD RV BACKLOG $2.67 bn 21.7% OF $16.86 BILLION +
Slide 5: Fourth Quarter of Fiscal Year 2021
FOURTH QUARTER OF FISCAL YEAR 2021 Net Sales Other $3.59 billion $0.07 bn European 1.9% +55% $0.97 bn 27.0% NA Motorized $0.82 bn Gross Margin 22.9% 16.6% +170 bps NA Towables $1.73 bn 48.2% Diluted EPS $4.12 +93% As of July 31, 2021, THOR has fully repaid the ABL borrowings incurred during the seco
Slide 6: North American Towable Segment
NORTH AMERICAN TOWABLE SEGMENT Fourth Quarter of Fiscal 2021 NET SALES GROSS PROFIT MARGIN BACKLOG Increased 46.4%* driven primarily by Increased 130 basis points* driven by Increased approximately 236%* to an increase in unit shipments the impact of the increase in net $9.28 billion towable R
Slide 7: North American Motorized Segment
NORTH AMERICAN MOTORIZED SEGMENT Fourth Quarter of Fiscal 2021 NET SALES GROSS PROFIT MARGIN BACKLOG Increased 124.6%* driven primarily Increased 80 basis points* driven Increased approximately 177%* to by an increase in unit shipments and primarily by the increase in net sales approximately $
Slide 8: European Segment
EUROPEAN SEGMENT Fourth Quarter of Fiscal 2021 NET SALES GROSS PROFIT MARGIN BACKLOG Increased 31.1%* driven primarily by Increased by 260 basis points* THOR’s European RV backlog an increase in unit shipments primarily due to the increase in net increased 133%* to $3.56 billion sales, lower d
Slide 9: Capital Management
CAPITAL MANAGEMENT NET CASH FROM OPERATIONS AND CAPITAL EXPENDITURES ($ millions) MAINTAINING CONSERVATIVE FINANCIAL POLICIES CASH PRIORITIES ▪ Proven commitment to deleveraging; repaid ~$580 Committed to million of the Term Loans since the closing of the Invest in THOR's business Debt Erwin Hymer G
Slide 10: Subsequent Events
SUBSEQUENT EVENTS
Slide 11: THOR Industries Acquired Airxcel on September 1, 2021
ON SEPTEMBER 1, 2021 THOR INDUSTRIES ACQUIRED AIRXCEL, A LEADING SUPPLIER OF OEM AND AFTERMARKET RV PARTS AND ACCESSORIES In conjunction with the transaction, THOR increased its Asset-Based Credit Facility ("ABL") from $750 million to $1.0 billion AIRXCEL OVERVIEW MAJOR PRODUCT CATEGORIES Leading su
Slide 12: Airxcel Transaction Benefits
AIRXCEL TRANSACTION BENEFITS Strengthens THOR's and the RV industry's supply chain ▪ Allows THOR the ability to strengthen its supply chain in a challenging environment ▪ Enhances RV industry supply of functionally critical components Diversifies and grows THOR’s revenue streams ▪ With revenue from
Slide 13: Appendix
APPENDIX
Slide 14: THOR At-A-Glance
THOR AT-A-GLANCE NORTH AMERICAN THOR Industries (NYSE: THO) was founded in 1980 and is TOWABLE MOTORIZED headquartered in Elkhart, Indiana. THOR is the sole owner of operating subsidiaries that, combined, represent the world’s largest manufacturer of RVs MANUFACTURING OPERATIONS IN FRANCE 23,351,000
Slide 15: RV Industry Overview: North America
RV INDUSTRY OVERVIEW North America CONSUMER CONFIDENCE VS. RV RETAIL REGISTRATIONS 2021 INDUSTRY WHOLESALE UNIT SHIPMENTS BY TYPE (2) Note: 2021 represented above includes the trailing twelve months of registrations ended June CALENDAR YEAR-TO-DATE RV RETAIL MARKET SHARE (1)(4) 1.8% 1.2% 1.4% 1.2% 7
Slide 16: RV Industry Overview: Wholesale Market Trends
RV INDUSTRY OVERVIEW North America RV WHOLESALE MARKET TRENDS (UNITS 000's) YTD Shipments (Units) 5-year CAGR: 2.8% June 2021 June 2020 Unit Change % Change 300,267 176,067 124,200 +70.5% TOWABLE RV WHOLESALE MARKET TRENDS (UNITS 000's) YTD Shipments (Units) 5-year CAGR: 3.6% June 2021 June 2020 Uni
Slide 17: RV Industry Overview: Europe
RV INDUSTRY OVERVIEW Europe EUROPEAN INDUSTRY UNIT REGISTRATIONS BY COUNTRY (1) Caravans Motorcaravans Total Country The Company monitors retail trends CYTD June 30, % CYTD June 30, % CYTD June 30, % in the European RV market as 2021 2020 Change 2021 2020 Change 2021 2020 Change Germany 14,111 14,81
Slide 18: Investor Relations Contact
INVESTOR RELATIONS CONTACT Mark Trinske Vice President of Investor Relations mtrinske@thorindustries.com (574) 970-7912 www.thorindustries.com