Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Q2 2022 Earnings Presentation
18 slides from Malibu Boats's earnings presentation, Feb 8, 2022
Slide 1: Second Quarter Fiscal 2022 Earnings Results
Malibu Boats, Inc. Second Quarter Fiscal 2022 Earnings Results February 8, 2022
Slide 2: Forward Looking Statements
2 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,” “expects,” “intends,” “estimates,
Slide 3: Use & Definition of Non-GAAP Financial Measure
3 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 Income and Adjusted Fully Distributed
Slide 4: Three Months Ended Fiscal Q2 2022
4 THREE MONTHS ENDED FISCAL Q2 2022 AFDNI PER SHARE (1) • Delivered record results that exceeded expectations • Net sales are up 34.9% year-over-year to $263.9 million ◦ Driven by the acquisition of Maverick and favorable model mix in Malibu and Cobalt • Net sales per unit increased 13.3% ◦ Higher A
Slide 5: Key Takeaways
5 KEY TAKEAWAYS • Tremendous results further demonstrating strength and capabilities of Malibu's brands, despite ongoing supply chain constraints and continued inflationary pressures • Pushing boundaries of innovation and luxury across our brands, with exciting new products • Capitalizing on scorchi
Slide 6: Maverick Facility Expansion
6 MAVERICK FACILITY EXPANSION • Work advancing the 110,000 square foot phase II addition at Maverick, supporting future growth and our ability to harness strong industry momentum • On pace to start building boats in the new facility during the second half of FY22 • Supports increased production capa
Slide 7: Operational Excellence & Vertical Integration
7 OPERATIONAL EXCELLENCE & VERTICAL INTEGRATION 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 g
Slide 8: Malibu's Growth Strategy
8 MALIBU’S GROWTH STRATEGY STRATEGIC ACQUISITIONS OF PREMIUM VERTICAL COMPANIES INTEGRATION PRODUCT & DISTRIBUTION WHITE INNOVATION SPACES
Slide 9: 2nd Quarter Fiscal 2022 Comparable Results
9 2ND QUARTER FISCAL 2022 COMPARABLE RESULTS NET SALES VOLUME NET SALES PER UNIT MIX COMPARISON
Slide 10: 2nd Quarter Fiscal 2022 Comparable Results
10 2ND QUARTER FISCAL 2022 COMPARABLE RESULTS GROSS MARGIN GROSS PROFIT ADJ EBITDA MARGIN (1) ADJ. EBITDA (1) 1.See Appendix for a reconciliation of Non-GAAP Adjusted EBITDA to Net Income.
Slide 11: FY22 Full Year Outlook
11 FY22 FULL YEAR OUTLOOK METRIC TARGET Consolidated Net Sales 22% to 24% range Adjusted EBITDA Margin Above 19.5%
Slide 12: Appendix
APPENDIX Sey my MAVERICK Malibu (>) mer -=xis EI MAVERICK COBALT BOATS MAVERICK. PATHRRIOER / HEWES CORA
Slide 13: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
13 RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted EBITDA and presentation of net income margin and Adjusted EBITDA Margin for the periods indicated (dollars in thousands): Three
Slide 14: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin
14 RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN (1) For the three months ended December 31, 2020, represents legal and advisory fees related to our litigation with Skier's Choice, Inc. (2) For the three months ended December 31, 2020, represents legal and advis
Slide 15: Reconciliation of Net Income Attributable to Class A to Adjusted Fully Distributed Net Income
15 RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods
Slide 16: Reconciliation of Net Income Attributable to Class A to Adjusted Fully Distributed Net Income
16 RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods
Slide 17: Reconciliation of Net Income Attributable to Class A to Adjusted Fully Distributed Net Income
17 RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods
Slide 18: Reconciliation of Net Income Attributable to Class A to Adjusted Fully Distributed Net Income
18 RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): (1) For the three months ended December 31, 2020, represents legal and advisory fees related to our litigation with Skier's Choice, Inc. (2) For the thre