Lci Industries · NYSE:LCII
Lci Industries — Q4 2021 Earnings Presentation
12 slides from Lci Industries's earnings presentation, Feb 10, 2022
Slide 1: LCI Industries Q4 2021 Earnings Conference Call
LCI Industries Q4 2021 Earnings Conference Call February 10, 2022 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains certain “forward-looking statements” with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of manag
Slide 3: Fourth Quarter and Full Year 2021 Highlights
Fourth Quarter and Full Year 2021 Highlights Record Net Sales ■ Posted a record $4.5 billion full-year net sales, up 60% year-over-year ■ Record $1.2 billion in net sales during the fourth quarter ■ 82% increase in full-year net income ■ 56% increase in full-year Adjusted EBITDA ■ Continued strength
Slide 4: RV OEM Growth Drivers & Trends
RV OEM Growth Drivers & Trends RV OEM Key Drivers • Industry record of ~600,000 wholesale shipments for FY 2021 as new patrons continue to flock towards the outdoor lifestyle • FY 2021 North American RV OEM sales up 72% YoY Organic Growth Expectations • Investing further into adding capacity through
Slide 5: Expanding Markets: International, Aftermarket, Adjacent Markets
International ■ FY 2021 sales up 58% YoY ■ Demand in European markets remains strong, supported by similar secular trends driving U.S. growth ■ Continued to utilize our international experience to introduce European products to the U.S. Aftermarket ■ FY 2021 sales up 32% YoY ■ Driven by record setti
Slide 6: Innovative Leadership
INNOVATIVE LEADERSHIP Leveraging our culture of innovation and technology: Our innovative culture brings technologically advanced products to a new generation of campers, enhancing the RV experience and driving the success of our platforms Safety & Security Monitoring & Control Connected & Digital C
Slide 7: Growth Strategy
GROWTH STRATEGY Growth progressed by innovation and demand Allocating Capital to Areas with the Highest Growth Return • Investment in the business, with focus on automation projects • Reduce leverage • Return capital to shareholders • Execute strategic acquisitions Integrating and Realizing Synergie
Slide 8: Q4 2021 Financial Performance
Operating Margin 8.1% 9.4% Fourth Quarter 2020 Fourth Quarter 2021 (in th ou sa nd s) Consolidated Net Income $48,693 $82,329 Fourth Quarter 2020 Fourth Quarter 2021 (in th ou sa nd s) Adjusted EBITDA* $88,067 $146,284 Fourth Quarter 2020 Fourth Quarter 2021 Q4 2021 FINANCIAL PERFORMANCE * Additiona
Slide 9: FY 2021 Financial Performance
Operating Margin 8.0% 8.9% 2020 2021 (in th ou sa nd s) Consolidated Net Income $158,440 $287,739 2020 2021 (in th ou sa nd s) Adjusted EBITDA* $328,200 $511,723 2020 2021 FY 2021 FINANCIAL PERFORMANCE * Additional information regarding adjusted EBITDA, as well as reconciliation of this non-GAAP fin
Slide 10: Liquidity and Cash Flow
As of and for the twelve months ended December 31 LIQUIDITY AND CASH FLOW 2021 2020 Cash and Cash Equivalents $63M $52M Remaining Availability under Debt Facilities(1) $318M $352M Capital Expenditures $99M $57M Dividends $87M $70M Debt / Net Income (TTM) 4.5x 4.7x Net Debt/EBITDA (TTM) 2.4x(2) 2.1x(
Slide 11: Adjusted EBITDA Reconciliation of Non-GAAP Measures
Adjusted EBITDA Reconciliation of Non-GAAP Measures APPENDIX Adjusted EBITDA is a non-GAAP performance measure included to illustrate and improve comparability of its results from period to period. Adjusted EBITDA is defined as net income before interest expense, provision for income taxes, deprecia
Slide 12: Q&A
LCI INDUSTRIES Q&A 12