Aaon, Inc. · NASDAQ:AAON
Aaon — R.W. Baird 2023 Industrials Conference
11 slides from Aaon's conference presentation, Nov 8, 2023
Slide 1: Investor Presentation - R.W. Baird Conference
INVESTOR PRESENTATION R.W. Baird Conference November 7-8, 2023
Slide 2: Forward-Looking Statements and Other References
FORWARD-LOOKING STATEMENTS AND OTHER REFERENCES Certain statements and information set forth in this presentation contains present expectations or projections. For additional information regarding “forward-looking statements” and “forward-looking information” within the known material factors that c
Slide 3: Management Attendees
Management Attendees Rebecca Thompson Matt Tobolski Joe Mondillo Chief Financial Officer President, BASX Director of Investor Relations Gary Fields President and Chief Executive Officer 3
Slide 4: AAON at a Glance
AAON at a Glance COMPANY OVERVIEW SALES BREAKOUT Description: AAON is a manufacturer of semi-custom and fully custom HVAC equipment for commercial and industrial 3% buildings in North America U.S. International Founded: 1988 Headquarters: Tulsa, OK Employees: ~3,9212 Manufacturing: 4 facilities 97%
Slide 5: AAON Taking Market Share
AAON Taking Market Share AAON Units Shipped1 Industry Units 5+ Tons Shipped2 20,000 -3% 3% 10% 250,000 CAGR CAGR 15,000 200,000 150,000 10,000 100,000 5,000 50,000 0 0 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 1 AAON units shipped excludes BASX units and discontinued water-source heat pump W
Slide 6: Today, AAON Wins With Premium Equipment
Today, AAON Wins With Premium Equipment For over 20 years, AAON has been known for producing premium HVAC equipment Premium equipment comes with a premium upfront price AAON equipment has a very attractive value proposition even when considering the premium upfront cost In many applications, AAON ha
Slide 7: Favorable Secular Market Trends
Favorable Secular Market Trends Decarbonization Electrification Government Regulations Economics From Niche to MAINSTREAM. 7
Slide 8: Not just game changing. World changing.
Not just game changing. World changing. AAON Alpha Class is our highest- performing packaged solution ever and is the industry's most versatile line of commercial air-source heat pumps. By pushing the boundaries of what's possible with its extraordinary. omni- climate performance, Alpha Class empowe
Slide 9: BASX 3-Year Sales CAGR 45%
BASX 3-YEAR SALES CAGR 45% Positive bottom-line results have materialized through post-acquisition synergies Revenue Synergies Cost Synergies Leveraged AAON’s scale to grow orders Extensive collaboration between sites with existing customers enhancing manufacturing efficiency Cross-selling of produc
Slide 10: Fundamentals Are Strong…
Fundamentals Are Strong… Decarbonization Electrification Favorable Regulations Total Cost of Ownership Cold Climate Heat Pumps Narrowed Price Premium Large Addressable Market Strengthening Sales Channel Increased Investment in Marketing Exposure to attractive sectors such as data centers and semicon
Slide 11: Appendix
Appendix (amounts in thousands, except for per share amounts) Q4 2022 Q1 2023 Q2 2023 Q3 2023 TTM Net sales $254,598 $265,953 $283,957 $311,969 $1,116,477 Net income 38,898 36,814 45,682 48,078 169,472 Taxes 6,871 6,356 7,678 15,413 36,318 Interest 933 1,150 1,543 1,266 4,892 EBIT $46,702 $44,320 $5