Lci Industries · NYSE:LCII
Lci Industries — Q4 2019 Earnings Presentation
11 slides from Lci Industries's earnings presentation, Feb 11, 2020
Slide 1: Fourth Quarter and Full Year 2019 Earnings Conference Call
LCI INDUSTRIES LCI Industries Fourth Quarter and Full Year 2019 Earnings Conference Call February 11, 2020 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 2019 Highlights
LCI INDUSTRIES Fourth Quarter and Full Year 2019 Highlights Significantly expanded our product portfolio, announcing seven strategic acquisitions totaling $448 million, including CURT Group Executed on key operational initiatives to deliver further margin expansion Returned to year-over-year sales g
Slide 4: RV OEM
LCI INDUSTRIES RV OEM • Outperformed the broader RV market in both Q4 and FY 2019 as dealers continued inventory reduction initiatives ◦ Q4 2019 RV OEM revenues down 1% YoY (wholesale shipments down 8% YoY) ◦ FY 2019 RV OEM revenues down 12% YoY (wholesale shipments down 16% YoY) ◦ Mitigated the imp
Slide 5: Expanding Markets
LCI INDUSTRIES Expanding Markets Executing on our diversification strategy to reach goal of 40% RV OEM by 2022 Aftermarket Adjacent Markets International • Acquired CURT Group, the • Expanded LCI’s capabilities in marine • Announced 2020 acquisition of leader in the automotive and through the acquis
Slide 6: Fourth Quarter Innovation Highlights
LCI INDUSTRIES Fourth Quarter Innovation Highlights Innovation: a critical part of our strategy • OneControl maintains a solid market share position in digital RV platforms and continues to be well-received by dealers and OEMs • LCI’s focus on integration of advanced technology as part of new produc
Slide 7: Growth Strategy
LCI INDUSTRIES Growth Strategy Accelerating Track Record with M&A • Completed seven acquisitions in 2019 and announced the acquisition of Polyplastic Group, further advancing our diversification strategy • Integrating latest acquisitions into the business and successfully capturing new synergies • T
Slide 8: Q4 2019 Financial Performance
LCI INDUSTRIES Q4 2019 Financial Performance Consolidated Net Sales Operating Margin (in thousands) $536,616 $564,021 5.5% 6.7% Fourth Quarter 2018 Fourth Quarter 2019 Fourth Quarter 2018 Fourth Quarter 2019 Consolidated Net Sales by Market (1)% +8% +35% +58% 8 RV OEM ADJACENT OEM AFTERMARKET INTERN
Slide 9: FY 2019 Financial Performance
LCI INDUSTRIES FY 2019 Financial Performance Consolidated Net Sales Operating Margin (in thousands) $2,475,807 $2,371,482 8.4% 8.0% Fiscal Year 2018 Fiscal Year 2019 Fiscal Year 2018 Fiscal Year 2019 Consolidated Net Sales by Market (12)% +7% +20% +40% 9 RV OEM ADJACENT OEM AFTERMARKET INTERNATIONAL
Slide 10: Cash Flow
LCI INDUSTRIES Cash Flow ($ in millions) FY 2019 FY 2018 Capital Expenditures $58.2 $119.8 Dividends $63.8 $59.3 Debt / EBITDA 2.2x(1) 1.1x(2) Cash from Operating Activities $269.5 $156.6 (1) Debt of $613M divided by Earnings Before Interest, Taxes, Depreciation, and Amortization "EBITDA"(Net Income
Slide 11: Q&A
LCI INDUSTRIES Q&A