Wabash National Corporation · NYSE:WNC
Wabash National — Bear Stearns Global Transportation Conference 2006
11 slides from Wabash National's conference presentation, May 8, 2006
Slide 1: Bear Stearns Global Transportation Conference May 9 & 10, 2006
Bear Stearns Global Transportation Conference May 9 & 10, 2006
Slide 2: Forward-Looking Statements
This presentation will contain certain forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are, however, subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by
Slide 3: Financial Highlights
Financial Highlights ($ in millions) 2003* 2004 2005 Q1 2006 Sales $829 $1,041 $1,214 $262 Gross Profit $ 67 $ 126 $ 135 $ 23 % Margin 8% 12% 11% 9% Operating Cash Flow $ 58 $ 57 $ 51 $ 50 CAPEX $ 7 $ 15 $ 31 $ 6 D&A $21 $ 19 $ 16 $ 4 Debt $227 $128 $126 $125 Cash $13 $42 $67 $40 * Note pro forma fo
Slide 4: Freight Tonnage Slows; Strong Q1 fleet profitability
Freight Tonnage Slows Strong Q1 fleet profitability Industry capacity remains tight ATA's Truck Tonnage Index* (Seasonally Adjusted; 2000=100) Truck Tonnage 01/01/2000 107 02/01/2000 105.6 03/01/2000 98.8 04/01/2000 97.4 05/01/2000 99 06/01/2000 100 07/01/2000 98.4 08/01/2000 99.9 09/01/2000 98.2 10
Slide 5: Positive Industry Outlook
Positive Industry Outlook 1999 2000 2001 2002 2003 2004 2005E 2006E 2007E 2008E 2009E 2010E Class 8 Trucks 280722 206555 118682 148236 141429 216521 269790 274816 161228 233349 279106 144493 Total Trailers 318788 275223 140100 142658 183162 235953 253963 262296 263614 280978 258737 259616 Units Sour
Slide 6: "Mid-Market" - Proven Growth Engine
"Mid-Market" - Proven Growth Engine Non-Partner Partner East 0.39 0.61 Others Top 10 Carriers Mid-Market East 0.38 0.11 0.52 2000 Top 10 Carriers: 11% (Historic focus) Other: 38% Mid-market: 52% Current Focus Non-Partner Accounts Partner Accounts Non-Partner Partner East 0.67 0.33 Non-Partner Partne
Slide 7: Leader in Technological Innovation - DuraPlate
Proprietary composite trailers offer several advantages vs. standardized equipment Longer trailer life Low maintenance cost Increased durability Enhanced trade in values Leader in Technological Innovation - DuraPlate(r) DuraPlate(r) Volume % of Total Units 260k + DuraPlate(r) trailers produced - est
Slide 8: Initiatives: Driving performance improvement
Initiatives Next Generation: four semi automated assembly lines Alpha Line - Started April '06 - three shifts by June '06 Three additional lines planned over next three years Expected cost $40+mm Expected annual savings $28 mm Direct Materials Off-shore Sourcing Today 4% of $750 mm buy - huge opport
Slide 9: Transcraft
The nation's largest designer and manufacturer of flatbed and drop deck trailers Purchased on March 3, 2006 for $71mm in cash Immediate positive contribution Leverage WNC supply chain, CI & lean know-how, and customer base Transcraft dominates the platform market (2005 share - 22%) by providing: Inn
Slide 10: Wabash Commitment
Achieve operating results Diversify and grow customer base Prepare for all industry cycle dynamics Continue structural margin improvement Grow earnings and cash flow Strengthen balance sheet Wabash Commitment
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