Malibu Boats, Inc. · NASDAQ:MBUU
Malibu Boats — Q3 FY2022 Earnings Presentation
18 slides from Malibu Boats's earnings presentation, May 10, 2022
Slide 1: Malibu Boats, Inc. Third Quarter Fiscal 2022 Earnings Results
Malibu Boats, Inc. Third Quarter Fiscal 2022 Earnings Results May 10, 2022
Slide 2: Forward Looking Statements
2 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,” “expects,” “intends,” “estimates,
Slide 3: Use & Definition of Non-GAAP Financial Measure
3 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 Income and Adjusted Fully Distributed
Slide 4: Three Months Ended Fiscal Q3 2022
4 THREE MONTHS ENDED FISCAL Q3 2022 AFDNI PER SHARE (1) • Delivered record results • Net sales are up 26.0% year-over-year to $344.3 million ◦ Driven by increased volumes, ASP, favorable model mix and our differentiated vertical integration strategy • Net sales per unit increased 20.7% ADJUSTED EBIT
Slide 5: Key Takeaways
5 KEY TAKEAWAYS • Record-setting quarter driven by our operational execution through our manufacturing capabilities despite ongoing supply chain constraints and material pricing pressures • Pushing boundaries of innovation and luxury across our suite of brands, with continued strong demand • Capital
Slide 6: Maverick Facility Expansion
6 MAVERICK FACILITY EXPANSION • Completed our Maverick phase II facility expansion and produced our first boats out of the 110,000 square foot expansion in early Q4, significantly increasing our production square footage for our Cobia and Pathfinder brands • Similar to the addition at Pursuit, our M
Slide 7: Operational Excellence & Vertical Integration
7 OPERATIONAL EXCELLENCE & VERTICAL INTEGRATION 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 g
Slide 8: Malibu's Growth Strategy
8 MALIBU’S GROWTH STRATEGY STRATEGIC ACQUISITIONS OF PREMIUM VERTICAL COMPANIES INTEGRATION PRODUCT & DISTRIBUTION WHITE INNOVATION SPACES
Slide 9: 3rd Quarter Fiscal 2022 Comparable Results
9 3RD QUARTER FISCAL 2022 COMPARABLE RESULTS NET SALES VOLUME NET SALES PER UNIT MIX COMPARISON
Slide 10: 3rd Quarter Fiscal 2022 Comparable Results
10 3RD QUARTER FISCAL 2022 COMPARABLE RESULTS GROSS MARGIN GROSS PROFIT ADJ EBITDA MARGIN (1) ADJ. EBITDA (1) 1.See Appendix for a reconciliation of Non-GAAP Adjusted EBITDA to Net Income.
Slide 11: FY22 Full Year Outlook
11 FY22 FULL YEAR OUTLOOK METRIC TARGET Consolidated Net Sales 28% to 29% range Adjusted EBITDA Margin Approaching 20.5%
Slide 12: Appendix
APPENDIX Sey my MAVERICK Malibu (>) mer -=xis EI MAVERICK COBALT BOATS MAVERICK. PATHRRIOER / HEWES CORA
Slide 13: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
13 RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA The following table sets forth a reconciliation of net income as determined in accordance with GAAP to Adjusted EBITDA and presentation of net income margin and Adjusted EBITDA Margin for the periods indicated (dollars in thousands): Three
Slide 14: Reconciliation of Net Income to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin
14 RECONCILIATION OF NET INCOME TO NON-GAAP ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN (1) For the three months ended March 31, 2021, represents legal and advisory fees related to our litigation with Skier's Choice, Inc. (2) For the three months ended March 31, 2021, represents legal and advisory fe
Slide 15: Reconciliation of Net Income Attributable to Class A Common Stock to Adjusted Fully Distributed
15 RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods
Slide 16: Reconciliation of Net Income Attributable to Class A Common Stock to Adjusted Fully Distributed
16 RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods
Slide 17: Reconciliation of Net Income Attributable to Class A Common Stock to Adjusted Fully Distributed
17 RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): The following table sets forth a reconciliation of net income attributable to Malibu Boats, Inc. to Adjusted Fully Distributed Net Income for the periods
Slide 18: Reconciliation of Net Income Attributable to Class A Common Stock to Adjusted Fully Distributed
18 RECONCILIATION OF NET INCOME ATTRIBUTABLE TO CLASS A COMMON STOCK TO ADJUSTED FULLY DISTRIBUTED NET INCOME OF CLASS A COMMON STOCK (UNAUDITED): (1) For the three months ended March 31, 2021, represents legal and advisory fees related to our litigation with Skier's Choice, Inc. (2) For the three m