Marine Products Corporation · NYSE:MPX
Marine Products — Investor Presentation (November 2022)
16 slides from Marine Products's investor presentation, Nov 16, 2022
Slide 1: Corporate Overview and Fourth Quarter 2022 Industry Update
Marine Products Corporation Corporate Overview and Fourth Quarter 2022 Industry Update November 16, 2022
Slide 2: Forward-Looking Statements and Non-GAAP Disclosure
FORWARD - LOOKING STATEMENTS AND NON - GAAP DISCLOSURE Certain statements and information included in this discussion constitute “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 . In particular, such statements include, without limitation, the
Slide 3: Corporate Profile
CORPORATE PROFILE • Headquartered in Atlanta • Manufacturing Facility in Nashville, GA • Publicly traded since 2001 • NYSE: MPX • Recent Stock Price: $11.20 • Market Capitalization: $373 million • Current Dividend Yield: 5.0% • Average Daily Volume (last 3 months): 27,600 • No debt, clean balance sh
Slide 4: MPX At-A-Glance
MPX AT - A - GLANCE $299 $292 $240 $298 $349 2018 2019 2020 2021 TTM Q3 22 x One of the largest manufacturers of fiberglass powerboats in the U.S., with leading market positions across its Chaparral and Robalo brands x Brands are oriented toward recreational and coastal fishing categories x Highly r
Slide 5: MPX's Evolution
MPX’s EVOLUTION MPX has evolved with the market into faster growing, premium outboard categories MPX has evolved by utilizing its design and manufacturing expertise and dealer network to capture attractive market opportunities Premium SSi sport boat line introduced Chaparral founded in Ft. Lauderdal
Slide 6: Investment Highlights
INVESTMENT HIGHLIGHTS Powerful Brand Heritage and Market Leadership • 55+ year heritage fostering brand awareness for manufacturing high - quality powerboats • Combination of Chaparral’s and Robalo’s outboards holds the #2 market position for outboard boats in their size range Favorable Market Trend
Slide 7: Enduring Market Leadership Position
ENDURING MARKET LEADERSHIP POSITION _____________________ Source: SSI data. 21 - 34 ft Sterndrive 18 - 36 ft Outboard #2 Leadership position in 18 - 36 ft outboards through Robalo brand #2 Leadership position in 21 - 34 ft sterndrives through Chaparral brand Combination of Chaparral’s and Robalo’s O
Slide 8: Highly Regarded, Long-Tenured Enthusiast Brands
HIGHLY REGARDED, LONG - TENURED ENTHUSIAST BRANDS Chaparral Boats has an astounding reputation of being solid boat makers. Like we mentioned before, they have been in the industry for half a century. They deliver on their promise of excellence and have plenty of awards to back up their claim.” - Fis
Slide 9: Broad Line-Up of Fiberglass Boats
20 Models 21 – 34 ft. Length Range $56k – $470k Price Range 20 Models 18 – 36 ft. Length Range $47k – $600k Price Range SSI Surf OSX Dual Console Center Console Bay Boat STERNDRIVE AND OUTBOARD PLEASURE BOATS OUTBOARD SPORT FISHING BOATS BROAD LINE - UP OF FIBERGLASS BOATS 2022 MODEL YEAR
Slide 10: Fiberglass Market Growth
57.9 64.8 68.9 69.8 72.5 74.3 85.6 73.5 2014 2015 2016 2017 2018 2019 2020 2021 FIBERGLASS MARKET GROWTH… (Units in Thousands) …SUPPORTED BY GROWING POPULARITY IN THE AGE OF COVID _____________________ Source: SSI data, Recreational Boating & Fishing Foundation. WHY CUSTOMERS CHOOSE FIBERGLASS BOATS
Slide 11: Innovative Hull and Boat Technologies
EXTENDED V - PLANE HULL Running surface spans the length of the entire boat in contrast to standard sterndrive boats Allows for more deck space, better planing performance and a more comfortable ride Creates superior stability under low speeds Utilized on the Company’s Chaparral and Robalo boating l
Slide 12: MPX's Dealer Footprint
10+ Years Average Dealer Relationship Significant Presence No Presence HIGHLIGHTS Europe Asia Australia Africa P remier dealer network with 260 domestic and 69 international, independent dealers Increased dealer network from 192 in 2010 to 329 today, with identified plans to continue expansion in ke
Slide 13: Five State-of-the-Art Manufacturing Facilities
MPX operates out of five state - of - the - art manufacturing facilities FACILITY SNAPSHOTS MPX’s facilities include 5 manufacturing plants in Nashville, Georgia Facilities are utilized to design new models, fabricate hulls, decks and small fiberglass parts, manufacture interiors and assemble and te
Slide 14: Investor-Oriented Capital Philosophy
_____________________ (1) Defined as net cash provided by operations / average total invested capital. (2) MPX spun - off from RPC in February 2001. 15.9% 14.3% (9.8%) 12.1% 3.4% 8.9% 11.5% 10.6% 17.1% 18.9% 38.8% 28.6% 39.8% 32.2% 0.4% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 201
Slide 15: Appendix A – Non-GAAP Reconciliation
APPENDIX A – NON - GAAP RECONCILIATION 2018 2019 2020 2021 Q3 22 YTD Net Income $28,488 $28,239 $19,444 $29,026 $28,490 Add: Income Tax provision 7,167 6,219 5,012 7,382 8,510 Depreciation and Amortization 1,820 2,090 1,954 1,816 1,416 Less: Interest Income 268 323 95 16 52 EBITDA $37,207 $36,225 $2
Slide 16: Marine Products Corporation Contact
Marine Products Corporation 2801 Buford Highway NE, Suite 300 Atlanta, GA 30329 404 - 321 - 7910 MarineProductsCorp.com
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