Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Q2 FY2025 Earnings Presentation
19 slides from Malibu Boats's earnings presentation, Jan 30, 2025
Slide 1: Malibu Boats, Inc. Second Quarter Fiscal 2025 Earnings Results
MALIBU BOATS. INC: Malibu Boats, Inc. Second Quarter Fiscal 2025 Earnings Results January 30, 2025
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 * Decent preliminary results from early season Boat Shows and Malibu Axis Year End Sales event, despite reflecting a challenging retail environment * Generated $28M of cash in the quarter and repurchased $10M of stock, emphasizing the confidence we have in the strength and future growt
Slide 5: Three Months Ended Fiscal Q2 2025
THREE MONTHS ENDED FISCAL Q2 2025 AFDNI PER SHARE (1) * Solid execution in a challenging retail environment * @Q2 net sales of $200.3 million, down 5.1% year- over-year $0.57 $0.31 ° Driven by decreased unit volumes in the Malibu and Saltwater aang Q2 FY24 Q2 FY25 Fishing segments + Gross margin of
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: 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 8: 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 9: Second Quarter Fiscal 2025 Comparable Results
SECOND QUARTER FISCAL 2025 COMPARABLE RESULTS NET SALES VOLUME $211.1 $200.3 1,373 1,222 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 NET SALES PER UNIT MIX COMPARISON $153.7 $163.9 Q2 FY24 Q2 FY25 Cobalt: 26.4% ~ Saltwater eee Fishing 29.5% : er y L— 2: Q2 FY24 Q2 FY25 Malibu/Axis: 44.1% Malibu/Axis: 43.0% MALI
Slide 10: Second Quarter Fiscal 2025 Comparable Results
SECOND QUARTER FISCAL 2025 COMPARABLE RESULTS GROSS MARGIN GROSS PROFIT 17.8% 18.7% Sy [| $37.5 $37.4 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25: ADJ EBITDA MARGIN () ADJ. EBITDA “) 10.9% 8.4% maz | Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 1.See Appendix for a reconciliation of Non-GAAP Adjusted EBITDA to Net (Loss) In
Slide 11: FY25 Full Year Outlook
FY25 FULL YEAR OUTLOOK METRIC TARGET Consolidated Net Sales Flat to down low single digits Adjusted EBITDA Margin Approximately 10% MALIBU BOATS. INC: MBI]
Slide 12: MALIBU
MALIBU BOATS. INC:
Slide 13: (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 14: (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 (1) For the three and six months ended December 31, 2024, represents legal and advisory fees related to ongoing litigation with the Company's insurance carriers related to the Batchelder matters and ongoing li
Slide 15: Income Attributable to Class A Common Stock to Adjusted Fully Distributed Net 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 16: Income Attributable to Class A Common Stock to Adjusted Fully Distributed Net 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 17: Income Attributable to Class A Common Stock to Adjusted Fully Distributed Net 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: Income Attributable to Class A Common Stock to Adjusted Fully Distributed Net 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): (1) For the three and six months ended December 31, 2024, represents legal and advisory fees related to ongoing litigation with the Company's
Slide 19: Income Attributable to Class A Common Stock to Adjusted Fully Distributed Net 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): (7) Represents the weighted-average shares outstanding of LLC Units held by non-controlling interests assuming they were exchanged into Class