Douglas Dynamics, Inc. · NYSE:PLOW
Douglas Dynamics — Investor Presentation (May 2025)
25 slides from Douglas Dynamics's investor presentation, May 2025
Slide 1: Investor Presentation May 2025
INVESTOR PRESENTATION MAY 2025 Mark Van Genderen – President & CEO Jon Sisulak – VP, Corporate Controller & Treasurer Nathan Elwell – VP, Investor Relations
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information relating to future events, future financial performance, strategies, expectations, compe
Slide 3: Recent Announcements
RECENT ANNOUNCEMENTS Q1 2025: Mark Van Genderen Record Net Sales up 20.3%; promoted from COO to Breakeven GAAP EPS, and President & CEO Record Adj. EPS of $0.09. Chris Bernauer appointed as March 2025 - Amended credit President of Work Truck facility - $150 million term Attachments loan, $125 millio
Slide 4: Two Market Leading Segments
TWO MARKET LEADING SEGMENTS Work Truck Attachments (“WTA”) Work Truck Solutions (“WTS”) • Three leading commercial snow and ice • Leading provider of customized solutions control brands and upfit services (Class 4-8) • Track record of innovation and • Strong relationships with truck OEM’s defendable
Slide 5: Work Truck Industry Structure
WORK TRUCK INDUSTRY STRUCTURE Attachments Manufacturer Truck OEMs Upfitter Vocational End User Landscapers Utilities Final Mile Delivery Contractors Hauling Service © 2025 Douglas Dynamics, LLC 5
Slide 6: Capabilities Across the Work Truck Market
CAPABILITIES ACROSS THE WORK TRUCK MARKET Class 1 – 3 Class 3 – 6 Class 7 – 8 Light Duty Trucks Medium Duty Heavy Duty Ford F-150 Ford F-450 Freightliner Chevy 2500 Chevy Topkick International © 2025 Douglas Dynamics, LLC 6
Slide 7: WTS: Recent Results Bode Well for Future
WTS: RECENT RESULTS BODE WELL FOR FUTURE Maintaining near-record backlog Municipal demand remains strong Self-help initiatives: Ongoing DDMS implementation Cost reductions, sourcing Improved chassis flow Exploring new business lines © 2025 Douglas Dynamics, LLC 7
Slide 8: WTS: Q1 2025 Results
WTS: Q1 2025 RESULTS* First quarter results • Net Sales rose 9.5% to $78.6 million, driven by higher municipal volumes and improved price increase realization. • Adjusted EBITDA increased 51.7% to $9.1 million. • Adjusted EBITDA margin increased 320 basis “This marks the fourth straight quarter of r
Slide 9: WTA: Improved Winter Weather
WTA: IMPROVED WINTER WEATHER First Quarter Results Net Sales $36.5M 53% Snowfall Totals Oct. 2024 to Adjusted Mar. 2025 Season EBITDA $0.3 107% vs. Prior Year Adjusted 1,960 EBITDA 0.9% basis 30% Margin points < Prior Year > Prior Year Source: National Oceanic and Atmospheric Administration’s Nation
Slide 10: WTA: Expanding Snow & Ice Control Methods
WTA: EXPANDING SNOW & ICE CONTROL METHODS © 2025 Douglas Dynamics, LLC 10
Slide 11: WTA: Product Expansion Opportunities
WTA: PRODUCT EXPANSION OPPORTUNITIES Key Criteria Highly engineered Regulatory barriers Complex manufacturing Mission critical performance Hydraulics Complex certification Intricate electrical Professional user Intellectual property Decreased price sensitivity Increasing Complexity Low barrier to en
Slide 12: Financial Overview
dd DOUGLAS DYNAMICS FINANCIAL OVERVIEW
Slide 13: Q1 2025 Financials
Q1 2025 FINANCIALS* Key Consolidated Results* Record Results & Positive Momentum $115.1M • Record Net Sales $115.1 million Net Sales 20% YOY • Record Adjusted EPS of $0.09 $0.1M • Increased sales of equipment and parts and Net Income Up from -$8.4M accessories at Work Truck Attachments. Adjusted $9.
Slide 14: Q1 2025 Financials: A Closer Look
Q1 2025 FINANCIALS* Record Results at Work Truck Solutions Positive Impact of Winter Weather at Work Truck Attachments A Closer Look Work Truck Attachments Work Truck Attachments • Increased snowfall in core markets drove positive results. Net Sales • Above-average ice events affected large parts of
Slide 15: 2025 Outlook
2025 OUTLOOK* The 2025 outlook and long-term financial targets assumes: 2025 Outlook* Relatively stable economic conditions Low High Net Sales $610M $650M Adj. EBITDA $75M $95M Stable to slightly improving supply of chassis and components Adj. EPS $1.30 $2.10 Tax Rate 24% 25% Core markets will exper
Slide 16: Long-Term Financial Targets
LONG-TERM FINANCIAL TARGETS Sales growth – low to mid-single digits Sales growth – mid to high-single digits EBITDA % profile – mid to high 20’s EBITDA % Profile – low double digits to low teens Expanding Product Portfolio Disciplined Acquisition Strategy Delivering Long-Term Shareholder Value Assum
Slide 17: Disciplined Capital Allocation Strategy
DISCIPLINED CAPITAL ALLOCATION STRATEGY Maintain & Organic Strong Disciplined Return Cash to Grow Dividend Growth Balance Sheet Acquisitions Shareholders • Dividend Yield • Continue organic • Sale leaseback • Capital structure • $50M Share = ~ 5% investments allowed $42M creates liquidity to Buyback
Slide 18: Appendix
dd DOUGLAS DYNAMICS APPENDIX
Slide 19: Q1 2025 (NYSE: PLOW)
Record Results at Work Truck Solutions Q1 2025 (NYSE: PLOW) Positive Impact of Winter Weather at Work Truck Attachments Key Consolidated Results* A Closer Look Highlights Leadership Transitions Improved Balance Sheet Near Record Backlog $115.1M Work Truck Attachments Net Sales New CEO – 2.1X $348M 2
Slide 20: Mark Van Genderen Promoted to President & CEO
APPENDIX: MARK VAN GENDEREN PROMOTED TO PRESIDENT & CEO In March 2025 Mark Van Genderen was promoted to President & CEO. He most recently served as Chief Operating Officer and President of Work Truck Attachments, overseeing both of the company’s reporting segments. Mark joined Douglas Dynamics in 20
Slide 21: Roadmap to Long-Term Value Creation
ROADMAP TO LONG-TERM VALUE CREATION Drive diversification through organic growth initiatives; Begin to activate M&A process Innovation and diversification to further strengthen market position Execute effectively to fuel expansion process Delivering margin improvements via DDMS and evolving talent s
Slide 22: Appendix: Financial Tables
APPENDIX: FINANCIAL TABLES © 2025 Douglas Dynamics, LLC 22
Slide 23: Appendix: Financial Tables
APPENDIX: FINANCIAL TABLES © 2025 Douglas Dynamics, LLC 23
Slide 24: Appendix: Financial Tables
APPENDIX: FINANCIAL TABLES © 2025 Douglas Dynamics, LLC 24
Slide 25: Appendix: Work Truck Classification
APPENDIX: WORK TRUCK CLASSIFICATION Gross Vehicle Weight Range Examples Gross Vehicle Weight Range Examples Ford Ranger Dodge Ram 5500 Dodge Dakota Toyota Tacoma Ford F-550 0 to 6,000 lbs. 16,001 to 19,500 lbs. Freightliner M2 Nissan Frontier Chevy Colorado GMC 5500 GMC Canyon International TerraSta