Wabash National Corporation · NYSE:WNC
Wabash National — Shareholder Meeting (May 2009)
31 slides from Wabash National's shareholder meeting presentation, May 14, 2009
Slide 1: Annual Stockholders Meeting May 14, 2009
Annual Stockholders Meeting May 14, 2009
Slide 2: Safe Harbor Statement
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: 2008 Review: The Challenges and The Impact
2008 Review The Challenges Deteriorating macro-economic conditions throughout the year Historically high raw material commodity and components costs Historically high fuel costs leading to decreased consumer spending Continued deterioration in residential housing markets Deterioration of automotive
Slide 4: Response - Actions implemented during '07/'08
2008 Review Response - Actions implemented during '07/'08 Idled Mt Sterling, KY flatbed manufacturing facility in August '07 Suspended southern plant project in early '08 Hourly headcount adjustments Salary headcount reductions Base salary freezes across the board Reductions in LTI Awards granted in
Slide 5: Strategic Plan Next Steps
Strategic Plan er NextSteps WABASH NATIONAL
Slide 6: Key Elements of the Plan
Key Elements of the Plan Increase Diversification Improve Operational Excellence Capture Additional Growth Opportunities Reduce Cyclicality Improve Profitability Drive Higher Growth Mission: Transform Wabash National into a diversified industrial manufacturer and service provider by leveraging core
Slide 7: Strategic Pyramid - Executable Initiatives
Develop New Non-core Business Opportunities Develop Global Joint Ventures/ Alliances Make Strategic Acquisitions Optimize Manufacturing Costs Accelerate Strategic Sourcing Initiative Optimize Inventory Mgmt. Create Purchasing Consortium Expand Customer Base Leverage the WNC Brand. Optimize and Grow
Slide 8: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award
Slide 9: Injury Reduction - Lafayette Manufacturing Safety Performance
Injury Reduction Wabash National - Lafayette Manufacturing Safety Performance (July 2002-March 2009) Incidents Per 100 Associates Per Year 0 5 10 15 20 25 30 35 40 45 WPO and Continuous Improvement Bahavior Based Safety and Ergonomic Initiatives Leadership and Line Management Safety Management Syste
Slide 10: Occupational Excellence Achievement Award
Occupational Excellence Achievement Award 2008 Receipient WabasH National Corp. Layfayette Manufacturing Layfayette, Indiana For Outstanding Safety Practices Wabash National Corporation CERTIFICATE OF REGISTRATION
Slide 11: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award Record "first pass process yield" performance Unsurpassed quality fit and finish levels
Slide 12: Process Yield - Lafayette Operations
Process Yield - Lafayette Operations 2002 - 1Q 2009 % of Units Finished @ End of Line 40% 50% 60% 70% 80% 90% 100% 2006 2007 2008 2009 Month Year
Slide 13: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award Record "first pass process yield" performance Unsurpassed quality fit and finish levels Market share improvement - 35%+ of all dry vans sold
Slide 14: Market Share Analysis
Market Share Analysis Source: Trailer Body Builders Magazine Gain of 2 points in Total Trailer share in 2008. 35% share in Dry Van segment - Nearly 6 pt increase YOY.
Slide 15: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award Record "first pass process yield" performance Unsurpassed quality fit and finish levels Market share gains - 35%+ of all dry vans sold Benson acquisition - strong na
Slide 16: Benson Product Line
Benson Product Line en
Slide 17: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award Record "first pass process yield" performance Unsurpassed quality fit and finish levels Market share improvement - greater than 35% of all dry vans sold Benson acqui
Slide 18: Lafayette Transformation
Lafayette Transformation Enhance Manufacturing Process Lafayette Transformation Enhanced Product Quality - Process Yield improvements Improved Build Consistency Significant WIP Inventory Reduction Build to Plan Compliance Reduced Forklift Travel by 153 miles per shift 215K sq.ft. of floorspace made
Slide 19: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award Record "first pass process yield" performance Unsurpassed quality fit and finish levels Market share improvement - greater than 35% of all dry vans sold Benson acqui
Slide 20: DuraPlate Products Group
(millions) $0 $20 $40 $60 $80 $100 DuraPlate(r) Products Group '07A '08A '09E '10E '11E '12E DuraPlate Panels 5 10 23 56 66 81.7 Revenue Opportunity with 20% plus GP Value Proposition - a durable, structural solution - replacing traditional construction methods/materials and providing significant RO
Slide 21: Portable Storage Containers - PODS
Portable Storage Containers - PODS Exclusive partnership with PODS Enterprises, Inc
Slide 22: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award Record "first pass process yield" performance Unsurpassed quality fit and finish levels Market share improvement - greater than 35% of all dry vans sold Benson acqui
Slide 23: Transportation Equipment Purchasing Consortium TEPC
Transportation Equipment Purchasing Consortium TEPC Established to identify and increase efficiencies and economies of scale in the procurement of raw materials, component parts and services to the economic benefit of its Members. Achieve incremental cost reduction not available through individual e
Slide 24: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award Record "first pass process yield" performance Unsurpassed quality fit and finish levels Market share gains - greater than 35% of all dry vans sold Benson acquisition
Slide 25: Industry Leading Innovations
Industry Leading Innovations Launch Date Description Innovation DuraPlate(r) Arched Roof 2009 Enhanced damage resistance and decreased weight Bonding Technologies 2009 Sidewalls and Logistics TrustLock Plus(r) Door Lock 2009 Proprietary single-lock closing mechanism New DuraPlate(r) HD 2009 Increase
Slide 26: Successes & Achievements
2008 Review Successes & Achievements Best TRIR Safety performance in history of company 2008 Occupational Excellence Achievement Award Record "first pass process yield" performance Unsurpassed quality fit and finish levels Market share gains - greater than 35% of all dry vans sold Benson acquisition
Slide 27: Industry Outlook
Industry Outlook 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009E 2010E 2011E 2012E Class 8 Trucks 280722 206555 118682 148236 141429 216521 269408 296474 133586 132323 102122 144988 218688 241738 Total Trailers 314087 275223 140100 142658 183162 235953 256091 279047 216254 143886 74470 13535
Slide 28: 2009 Outlook
2009 Outlook Ongoing macro-economic challenges Continued housing industry weakness Automotive sector challenges Return to GDP growth late in year Ongoing Industry challenges Low freight demand - worst in 34 years Decreased fleet profitability Expected shipments 2009 projection of 18,000 - 20,000 uni
Slide 29: 2009 Outlook Response - Actions implemented in '09
2009 Outlook Response - Actions implemented in '09 Further Hourly headcount adjustments Further Salary headcount reductions - now total 35% since '06 Base salary reductions in '09 of 14 - 17% across the board Further reductions in LTI Awards in '09 Deferral of STI award payments Hourly wage reductio
Slide 30: Years of Innovation
24 Years of Innovation
Slide 31: Annual Stockholders Meeting May 14, 2009
Annual Stockholders Meeting May 14, 2009