Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Q1 2025 Earnings Presentation
20 slides from Malibu Boats's earnings presentation, Oct 31, 2024
Slide 1: Malibu Boats, Inc. First Quarter Fiscal 2025 Earnings Results
MALIBU BOATS. INC: Malibu Boats, Inc. First Quarter Fiscal 2025 Earnings Results October 31, 2024
Slide 2: Use & Definition of Non-GAAP Financial Measure
USE & DEFINITION OF NON-GAAP FINANCIAL MEASURE This presentation includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission: Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Fully Distributed Net (Loss) Income and Adjusted Fully Distri
Slide 3: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), Forward-looking statements can be identified by such words and phrases as “believes,” “anticipates, terminology or the negative thereof,
Slide 4: Key Takeaways
KEY TAKEAWAYS + Maintained disciplined inventory management and executed strategic initiatives amid a tough retail environment * Delivered sequential revenue and margin improvements as promotional activity normalizes, enhanced by our operational efficiencies ¢ Introduced multiple new models across o
Slide 5: Three Months Ended Fiscal Q1 2025
THREE MONTHS ENDED FISCAL Q1 2025 AFDNI PER SHARE (1) * Maintained focus on reducing channel inventories * Q1 net sales of $171.6 million, down 32.9% year- $1.13 over-year Ti ena ° Driven by decreased unit volumes across all segments Q1 FY24 Q1 FY25 + Gross margin of 16.4%, down 580bps year-over- AD
Slide 6: Operational Excellence & Vertical Integration
OPERATIONAL EXCELLENCE & VERTICAL INTEGRATION Tn OPERATIONAL EXCELLENCE VERTICAL INTEGRATION + Culture centered on superior employees building the highest + Vertical integration strategy is a competitive differentiator across quality products in the most efficient manner all brands, driving overall
Slide 7: Select New MY25 Product Introductions
SELECT NEW MY25 PRODUCT INTRODUCTIONS Select New Product Launches Q1 2025 BOATS. INC:
Slide 8: Malibu's Growth Strategy
MALIBU’S GROWTH STRATEGY STRATEGIC ACQUISITIONS VERTICAL INTEGRATION PRODUCT & DISTRIBUTION WHITE SPACES OF PREMIUM COMPANIES INNOVATION MALIBU | api) BOATS. INC: PATMPLIOEE ~ Wiwvericte WfEWES.
Slide 9: Positioned for Growth
POSITIONED FOR GROWTH Capacity in Place Vertical Integration Opened new Cobalt 260,000+ square Now building tooling for all MBI Began rollout of Monsoon foot facility near MBI HQ in Q3'24 brands in our new 100,000+ sterndrive engines to Cobalt square foot dealers and customers Q1'24 Tooling Design C
Slide 10: Model Built for Significant Cash Generation
MODEL BUILT FOR SIGNIFICANT CASH GENERATION rmalized Industry Environment’ * Capacity in place to enable revenue recovery lilustrative: MBI Financial Profile - Does Not Reflect Actual Guidance Net Sales $1,300M * — Improved operating leverage across business model Adj. EBITDA Margin ~17.5% * Strong
Slide 11: First Quarter Fiscal 2025 Comparable Results
FIRST QUARTER FISCAL 2025 COMPARABLE RESULTS NET SALES VOLUME $255.8 1,698 Q1 FY24 Q1FY25 Qi FY24 Q1FY25 NET SALES PER UNIT MIX COMPARISON $167.6 Q1 FY24 Q1 FY25 $150.7 Cobalt: 33.2% x, 1 Qi FY24 Qi FY25 Malibnaotes 7.508 MALIBU BOATS. INC”
Slide 12: First Quarter Fiscal 2025 Comparable Results
FIRST QUARTER FISCAL 2025 COMPARABLE RESULTS GROSS MARGIN GROSS PROFIT 22.2% 16.4% $56.8 Q1 FY24 Q1FY25 Q1FY24 QT FY25: ADJ EBITDA MARGIN () ADJ. EBITDA “) 15.2% $39.0 9) | Ld = Qt FY24 Q1 FY25 Q1 FY24 Q1 FY25 1.See Appendix for a reconciliation of Non-GAAP Adjusted EBITDA to Net (Loss) Income. MALI
Slide 13: FY25 Full Year Outlook
FY25 FULL YEAR OUTLOOK METRIC TARGET Consolidated Net Sales Up low single digits Adjusted EBITDA Margin Between 10% and 12% MALIBU BOATS. INC: MBI]
Slide 14: MALIBU
MALIBU BOATS. INC:
Slide 15: Reconciliation of Net (Loss) Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin
RECONCILIATION OF NET (LOSS)INCOME TO NON-GAAP ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN The following table sets forth a reconciliation of net (loss) income as determined in accordance with GAAP to Adjusted EBITDA and presentation of net (loss) income margin and Adjusted EBITDA Margin for the peri
Slide 16: Reconciliation of Net (Loss) Income to Non-GAAP Adjusted EBITDA (footnotes)
RECONCILIATION OF NET (LOSS) INCOME TO NON-GAAP ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN (1) For the three months ended September 30, 2024, represents legal and advisory fees related to ongoing litigation with the Company’s insurance carriers related to the Batchelder matters for fiscal year 2025.
Slide 17: Reconciliation to Adjusted Fully Distributed Net (Loss) Income
RECONCILIATION OF NET (LOSS) INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET (LOSS) INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net (loss) income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net (Los
Slide 18: Reconciliation to Adjusted Fully Distributed Net (Loss) Income (denominator)
RECONCILIATION OF NET (LOSS) INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET (LOSS) INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net (loss) income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net (Los
Slide 19: Reconciliation to Adjusted Fully Distributed Net (Loss) Income per Share
RECONCILIATION OF NET (LOSS) INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET (LOSS) INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net (loss) income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net (Los
Slide 20: Reconciliation to Adjusted Fully Distributed Net (Loss) Income (footnotes)
RECONCILIATION OF NET (LOSS) INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET (LOSS) INCOME OF CLASS A COMMON STOCK (UNAUDITED): (1) For the three months ended September 30, 2024, represents legal and advisory fees related to ongoing litigation with the Company's insuran