Wabash National Corporation · NYSE:WNC
Wabash National — Shareholder Meeting (May 2012)
34 slides from Wabash National's shareholder meeting presentation, May 17, 2012
Slide 1: Annual Shareholder Meeting
WNC ANNUAL SHAREHOLDER MEETING May 17, 2012 Dick Giromini, President & CEO Wabash National Corporation
Slide 2: Safe Harbor Statement
2 SAFE HARBOR STATEMENT This presentation will contain certain forward - looking statements, as defined by the Private Securities Litigation Reform Act of 1995 . These forward - looking statements are, however, subject to certain risks and uncertainties that could cause actual results to differ mate
Slide 3: Celebrating Past, Present and Future Innovation
3 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 4: Celebrating Past, Present and Future Innovation
4 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 5: Celebrating Past, Present and Future Innovation
5 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 6: Celebrating Past, Present and Future Innovation
6 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 7: Celebrating Past, Present and Future Innovation
7 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 8: Celebrating Past, Present and Future Innovation
8 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 9: Celebrating Past, Present and Future Innovation
9 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 10: Celebrating Past, Present and Future Innovation
10 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 11: Celebrating Past, Present and Future Innovation
11 CELEBRATING PAST, PRESENT AND FUTURE INNOVATION Ehrlich Innovation Center
Slide 12: 2011 Review: Economy and Industry Continue Recovery
12 2011 REVIEW Economy and industry continue recovery Source: ATA Source: ACT
Slide 13: 2011 Review
2011 REVIEW WNCEmployees Hy 110 a2" O3'I0 as40 ait a2 ast Note: Bot permonert and temporary employesoreincuéed WNC Quarter-End Backlog (§ Million) Qi" Q2"10 G3" a4 aI a2‘ 4,000 200 I o- Qi'10 Q2'0 Q310 A410 ar Oa" WNCTotal Trailers: Quarterly Shipments Q1'30 G20 310 Q4'I0 I'L a2"11 a3"1 a4" Wanas 13
Slide 14: Financial Highlights
14 0 200 400 600 800 1,000 1,200 1,400 2006 2007 2008 2009 2010 2011 $1,312 $1,103 $836 $338 $640 $1,187 -8% -4% 0% 4% 8% 12% 2006 2007 2008 2009 2010 2011 8% 8% 3% - 7% 4% 6% 0% 4% 8% 12% 16% 20% 2006 2007 2008 2009 2010 2011 12% 15% 15% 17% 10% 10% Revenue ($ millions) Gross Margin (1 ) 2006 and 2
Slide 15: New Segment Reporting Structure
15 Commercial Trailer Products Wabash National Corporation Diversified Products Retail • Dry Vans, Refrigerated Vans, Platforms • Fleet Used Trailers • Industry leader in Dry Vans and Total Trailer production • Wabash Composites • Wabash Energy & Environmental Solutions • Wabash Wood Products • 12 r
Slide 16: Innovation Leads the Way to Diversification
16 INNOVATION LEADS THE WAY TO DIVERSIFICATION Frac tanks DuraPlate ® XD - 35® ID/Stop Indicators: Brakes Applied DuraPlate ® AeroSkirt ® Tire Hauler
Slide 17: Wabash Composites: Exceeding Expectations
17 WABASH COMPOSITES : EXCEEDING EXPECTATIONS New product offerings constantly in development 2008 2009 2010 2011 2012 $10M $24M Revenue: Start Up $56M ~$70M+ Cargo Trailers Foldable Portable Storage Container Mobile Emergency Shelter Cargo Trailer
Slide 18: Wabash Energy & Environmental Solutions
18 WABASH ENERGY & ENVIRONMENTAL SOLUTIONS Strategic entry into energy and environmental sectors Frac Tanks - $70 Million/5 - year Supply Agreement
Slide 19: Energy & Environmental Solutions Growth Opportunities
19 ENERGY & ENVIRONMENTAL SOLUTIONS GROWTH OPPORTUNITIES Strong growth in oil and gas expected through 2035 Source : U.S. Energy Information Administration
Slide 20: Energy & Environmental Solutions Growth Opportunities
20 ENERGY & ENVIRONMENTAL SOLUTIONS GROWTH OPPORTUNITIES Leverage existing physical and intellectual assets for rapid launch Carbon Steel Vacuum Tanks • Strong demand environment • Leverages our core competencies in carbon steel fabrications
Slide 21: Retail: Wabash National Trailer Centers
21 RETAIL : WABASH NATIONAL TRAILER CENTERS Increasing revenue streams WNTC Parts Store opened in 2011 Cadiz, KY Expanded mobile service
Slide 22: 2012: Growth Efforts Gain Momentum
22 2012: GROWTH EFFORTS GAIN MOMENTUM
Slide 23: Continued Execution of the Strategic Plan
23 Mission: Transform Wabash National into a diversified manufacturer and service provider by leveraging core competencies; improve profitability via operational excellence; capture additional revenue streams through new product development, new market growth opportunities and selective acquisitions
Slide 24: Continued Execution of the Strategic Plan
24 Mission: Transform Wabash National into a diversified manufacturer and service provider by leveraging core competencies; improve profitability via operational excellence; capture additional revenue streams through new product development, new market growth opportunities and selective acquisitions
Slide 25: Transaction Rationale
25 TRANSACTION RATIONALE x Walker is the #1 in Liquid Transportation Systems manufacturer in North America x Complements Wabash’s position as #1 dry van semi - trailer manufacturer in North America x Commonality of culture and history of innovation x Strong brand and premium products x Blue - chip a
Slide 26: Clear Market Leader
26 CLEAR MARKET LEADER Market Position Products and Markets Market Share Brands # 1 ALL liquid - transportation systems in North America 33% # 1 Stainless - steel liquid - transportation systems in North America 61% # 1 Stainless - steel liquid - tank trailers for the North American chemical market
Slide 27: Walker: Strong, Diverse Product Portfolio
27 WALKER : STRONG, DIVERSE PRODUCT PORTFOLIO Stainless - Steel Dairy Trailer Refined Petroleum Truck 7,000 Gallon Refueler Towable Hydrant Dispenser Liquid Tank Trailers Truck - Mounted Tanks Aviation Refuelers Carts and Hydrant Dispensers ENGINEERED PRODUCTS Stainless - Steel Vertical Silos WEP Pr
Slide 28: Diversified Business Model
28 DIVERSIFIED BUSINESS MODEL End - Markets Geographies Products and Services Blue - Chip Customer Base Oil, Gas & Energy Services Dairy, Food and Beverage Chemical Pharmaceuticals Aviation Defense Environmental Note: 1. All information based off of 2011 revenues US, 87% Australia, 0% Asia, 5% Afric
Slide 29: Our New Reporting Structure with Walker Group
29 Commercial Trailer Products Wabash National Corporation Diversified Products Retail • Dry Vans • Refrigerated Vans • Platforms • Fleet Used Trailer Sales • Walker Group • Wabash Environmental and Energy Solutions • Wabash Composites • Wabash Wood Products • 12 retail locations in U.S. • New Trail
Slide 30: 2012 Outlook: Continued Strong Truck Tonnage
30 2012 OUTLOOK Continued strong truck tonnage Source: ATA, DOT 90 95 100 105 110 115 120 125 130 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 ATA's Truck Tonnage Index (TTI) & DOT's Freight Transportation Services Index (TSI) TTI TSI
Slide 31: 2012 Outlook: Industry Forecast
31 2012 OUTLOOK : INDUSTRY FORECAST Strong drivers for sustained demand Source: ACT DRY VANS: Population & Average Age 1979 - 2017 ACT Research Co., LLC: Copyright 2012 80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 12 14 16 0 200 400 600 800 1000 1200 1400 1600 1800 2000 Population (000s) 5.5 6.0
Slide 32: Industry Outlook
32 INDUSTRY OUTLOOK Early innings of trailer cycle that could be one of the longest and strongest in history Source: ACT Research and FTR Associates. FTR numbers represent trailer production . ACT Forecast by Segment 2010 2011 2012 2013 2014 2015 2016 2017 Dry Van (Wabash) 60,227 116,618 139,000 159
Slide 33: 2012 and Beyond: Executing on Strategic Initiatives
33 2012 AND BEYOND : EXECUTING ON STRATEGIC INITIATIVES • Favorable Demand Environment • Strong demand and volume in truck trailer and tank industries • Energy sector projects long - term strength • Focus on Execution and Results • Continue to create customer - driven innovation that transforms the
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