SlideShare a Scribd company logo
1 of 15
Download to read offline
Baird ESG Investor Conference
February 24, 2021
2
Forward Looking Statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve potential risks and uncertainties.
A number of factors could cause actual results to differ materially from these statements, including, but not limited to competition and new product introductions by competitors, our ability to attract and retain qualified personnel, increases in market
compensation rates, business or production disruptions, sales order cancellations, risk related to the terms of our credit agreement and compliance with debt covenants and leverage ratios, stock price volatility and share dilution, disruptions or unanticipated
costs from facility expansions, availability of labor, a slowdown in the economy, low consumer confidence, the effect of global tensions, increases in interest rates, availability of credit, availability of financing for RV and marine dealers, impairment of good will, risk
related to cyclicality and seasonality of our business, slower than anticipated sales of new or existing products, integration of operations relating to merger and acquisition activities generally, the possibility that the Newmar acquisition may not perform as
expected or may not result in earnings growth, difficulties and expenses related to integrating Newmar into our business, inadequate liquidity or capital resources, inventory and distribution channel management, our ability to innovate, our reliance on large
dealer organizations, significant increase in repurchase obligations, availability and price of fuel, availability of chassis and other key component parts, increased material and component costs, exposure to warranty claims, ability to protect our intellectual
property, exposure to product liability claims, dependence on information systems and web applications, any unexpected expenses related to the implementation of our enterprise resource planning system, impacts of public health crises, such as COVID-19, risk
related to data security, cyber attack, governmental regulation, including for climate change and risk related to anti-takeover provisions applicable to us. Additional information concerning certain risks and uncertainties that could cause actual results to differ
materially from that projected or suggested is contained in the company's filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or from the company upon request. The company disclaims
any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any changes in the company's expectations after the date of this release or any change in events, conditions or
circumstances on which any statement is based, except as required by law.
INDUSTRY AND MARKET DATA
In this presentation, we rely on and refer to information and statistics regarding market participants in the sectors in which we compete and other industry data. We obtained this information and statistics from third-party sources, including reports by market
research firms. While such information is believed to be reliable, for the purposes used herein, we make no representation or warranty with respect to the accuracy of such information. Any and all trademarks and trade names referred to in this presentation are
the property of their respective owners.
NON-GAAP FINANCIAL MEASURES
This presentation includes financial information prepared in accordance with accounting principles generally accepted in the U.S. (โ€œGAAPโ€), as well as certain adjusted or non-GAAP financial measures such as EBITDA, adjusted EBITDA and free cash flow. EBITDA
is defined as net income before interest expense, provision for income taxes, and depreciation and amortization expense. Adjusted EBITDA is defined as net income before interest expense, provision for income taxes, depreciation and amortization expense, and
other adjustments made in order to present comparable results from period to period. Free cash flow is defined as cash flow from operations less capital expenditures. These non-GAAP financial measures, which are not calculated or presented in accordance with
GAAP, have been provided as information supplemental and in addition to the financial measures presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for, or as an alternative to, and
should be considered in conjunction with, the GAAP financial measures presented herein. The non-GAAP financial measures presented may differ from similar measures used by other companies. Please see slides 34 and 35 for reconciliations of these non-GAAP
measures to the nearest GAAP measure.
We have included these non-GAAP performance measures as comparable measures to illustrate the effect of non-recurring transactions occurring during the year and improve comparability of our results from period to period. Management uses these non-
GAAP financial measures (a) to evaluate our historical and prospective financial performance and trends as well as our performance relative to competitors and peers; (b) to measure operational profitability on a consistent basis; (c) in presentations to the
members of our board of directors to enable our board of directors to have the same measurement basis of operating performance as is used by management in its assessments of performance and in forecasting and budgeting for our company; (d) to evaluate
potential acquisitions; and (e) to ensure compliance with covenants and restricted activities under the terms of our credit facilities. We believe these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties to
evaluate companies in our industry.
We help our customers
explore the outdoors,
enabling extraordinary
mobile experiences as they
travel, live, work, and play.
We will be the trusted leader
in outdoor lifestyle solutions
by providing exceptional
innovation, quality and
service in the industries we
engage.
To create lifetime advocates
of our brands through a
relentless focus on
delivering an unsurpassed
customer experience.
Our North Star
Our Unique Story
Outdoor
lifestyle
brands
Diversified โ€“ only
public RV, marine
and specialty
vehicle company
Premium quality,
innovation, and
service
Vision not defined
by one product or
segment
Top talent is a
blend of
Outdoor and
other industry
experience
Significant
growth
runway
5
Enterprise Strategic Priorities
Strengthen
an Inclusive,
High-Performance
Culture
โ€ข Purpose-driven
โ€ข Collaborative
โ€ข Results-focused
Build
Exceptional Outdoor
Lifestyle Brands
โ€ข Organic Growth
โ€ข Smart Diversification
โ€ข Premium Offerings
Utilize
Technology and
Information as
Business Catalysts
โ€ข Innovation
โ€ข Productivity / Agility
โ€ข Digital Competency
Create
a Lifetime of
Customer Intimacy
โ€ข Consumer Insights
โ€ข Channel Partnerships
โ€ข Shared Experiences
Drive
Operational
Excellence and
Portfolio Synergy
โ€ข Employee Safety /
Health
โ€ข Product Quality
โ€ข Continuous
Improvement
Strategic Transformation
Winnebago Industries: Leading Premium Brands
Quality, Service and Innovation are the Golden Threads in Everything We Do
2016-2020 RV Market Share Performance
FY2016
3.0%
FY2017
7.1%
FY2018
8.4%
FY2019
9.5%
FY2020
11.3%
Source: Statistical Surveys Inc.; represents unit volume
DEC 2020 (TTM)
11.5%
8
$223
$300 $307 $313
$371
2017 2018 2019 2020 Q121 TTM
$1,547
$2,017 $1,986
$2,356
$2,560
2017 2018 2019 2020 Q121 TTM
WGO IND Net Revenue WGO IND Gross Profit
$ - Millions
$139
$182 $180 $168
$215
2017 2018 2019 2020 Q121 TTM
WGO IND Profit
$ - Millions
% of revenue
Adj EBITDA
$ - millions
% of revenue
WGO IND Free Cash Flow
$83
$55
$93
$238
$154
2017 2018 2019 2020 Q121 TTM
$ - Millions
FCF = Op CF less Cap Ex
11.6% 14.4% 14.9% 13.3%
14.5%
6.4% 9.0% 9.0% 7.1%
8.4%
1.7X
2017
1.6X
2017
1.9X
2017
1.7X
2017
Delivering Strong Financial Results
10
Capital Allocation Priorities
โ€ข Reinvest in organic business growth
โ€ข Consider selective inorganic growth
opportunities
โ€ข Optimize capital structure, target 0.9x-1.5x
leverage ratio
โ€ข Maintain adequate liquidity
โ€ข Return cash to shareholders
โ€ข Consistent quarterly dividends
โ€ข Share repurchases
97 83
134
270
189
FY2017 FY2018 FY2019 FY2020 LTM 11/28/20
Net Cash from Operations
($ - millions)
14
29
41
32 34
FY2017 FY2018 FY2019 FY2020 LTM 11/28/20
Capital Expenditures
($ - millions)
14
19 22
15
25
FY2017 FY2018 FY2019 FY2020 LTM 11/28/20
Cash Returned to Shareholders1
($ - millions)
1 โ€“ defined as dividends plus share repurchases, excluding shares repurchased for employee
compensation purposes
1.4
1.6
2.0
2.5
1.5
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Q1-18Q2-18Q3-18Q4-18Q1-19Q2-19Q3-19Q4-19Q1-20Q2-20Q3-20Q4-20Q1-21
Leverage Ratio
Leverage Ratio
Target Range (0.9x โ€“ 1.5x)
11
Liquidity/Debt Profile
Proven track record of maintaining
ample liquidity and rapid debt paydown
post acquisitions
Returned to top end of targeted
leverage range of 0.9X to 1.5X
$192.5M ABL available (currently untapped)
$300M of convertible notes @ 1.5% due 2025
$300M of secured notes @ 6.25% due 2028
Covid-19
EBITDA Impact
12
Strong Interest In The Outdoors
60% of the U.S. population pursued an outdoor activity in 2020*
68% of consumers under the age of 55 participated in an
outdoor activity such as camping, hiking, boating or visiting
a state or national park*
31% was first time participating in an outdoor activity*
* Padilla Spotlight Methodology: online survey conducted among U.S. consumers at least 18
years or older between November 13 and November 17, 2020. Responses were weighted
to U.S. Census for age, gender and ethnicity. There were 1,984 completed surveys.
** Kampgrounds of America; Fall 2020 Update report issued October 1, 2020
*** CBRE Hotels Advisory Group report issued May 15, 2018
of new campers, since the pandemic, are millennials**
55%
of new campers, since the pandemic, have children**
82%
RV vacations are the most economical โ€“ on average 27% to 62%
less expensive per day compared to other vacation options***
12
2020 report aligns with Global Reporting Initiative (GRI)
ESG journey progressing, despite COVID-19
โ€ข Waste management plan
implementation begins
2021
โ€ข Exploring alternative
energy (solar) to enhance
operational efficiency
โ€ข Environmental
Management System
(EMS) based on ISO-
14001:2015
โ€ข Safety: COVID-19 response
very effective, maintaining
safety gains
โ€ข People: Diversity, Equity and
Inclusion (DEI) strategy and
goals progress
โ€ข Community: increased
grantmaking, launched
WGO Together Fund
providing $425,000 in
pandemic hardship
assistance
โ€ข Enhanced corporate board
engagement in ESG
โ€ข Policies updated: Human
Rights, EHSS, Supplier
Code of Conduct (in
progress)
Baird ESG Investor Conference

More Related Content

What's hot

Brink's Second Quarter 2017 Earnings Presentation
Brink's Second Quarter 2017 Earnings PresentationBrink's Second Quarter 2017 Earnings Presentation
Brink's Second Quarter 2017 Earnings Presentation
investorsbrinks
ย 
Aveda energy investor presentation september 2013
Aveda energy investor presentation september  2013Aveda energy investor presentation september  2013
Aveda energy investor presentation september 2013
AvedaEnergy
ย 
Investor presentation february 2015
Investor presentation   february 2015Investor presentation   february 2015
Investor presentation february 2015
genworth_financial
ย 
Investor presentation sept.oct_2010_r
Investor presentation sept.oct_2010_rInvestor presentation sept.oct_2010_r
Investor presentation sept.oct_2010_r
Intact
ย 
Genworth MI Canada Inc. - Investor Presentation May/June 2013
Genworth MI Canada Inc. - Investor Presentation May/June 2013Genworth MI Canada Inc. - Investor Presentation May/June 2013
Genworth MI Canada Inc. - Investor Presentation May/June 2013
genworth_financial
ย 

What's hot (20)

Denn investor presentation november & december 2018 final
Denn investor presentation november & december 2018   finalDenn investor presentation november & december 2018   final
Denn investor presentation november & december 2018 final
ย 
Winnebago Industries Investor Day 2019
Winnebago Industries Investor Day 2019Winnebago Industries Investor Day 2019
Winnebago Industries Investor Day 2019
ย 
Visium Slides
Visium SlidesVisium Slides
Visium Slides
ย 
Winnebago Industries IR Presentation - April 2019
Winnebago Industries IR Presentation - April 2019Winnebago Industries IR Presentation - April 2019
Winnebago Industries IR Presentation - April 2019
ย 
Sidoti investor presentation 3.29.17 final
Sidoti investor presentation 3.29.17 finalSidoti investor presentation 3.29.17 final
Sidoti investor presentation 3.29.17 final
ย 
Winnebago Industries Investor Day Presentation
Winnebago Industries Investor Day PresentationWinnebago Industries Investor Day Presentation
Winnebago Industries Investor Day Presentation
ย 
Dreamforce 2013 Investment Community Presentation
Dreamforce 2013 Investment Community PresentationDreamforce 2013 Investment Community Presentation
Dreamforce 2013 Investment Community Presentation
ย 
Brink's Second Quarter 2017 Earnings Presentation
Brink's Second Quarter 2017 Earnings PresentationBrink's Second Quarter 2017 Earnings Presentation
Brink's Second Quarter 2017 Earnings Presentation
ย 
Investor presentation november 2016 final
Investor presentation   november 2016 finalInvestor presentation   november 2016 final
Investor presentation november 2016 final
ย 
Acquisition of Chris-Craft
Acquisition of Chris-CraftAcquisition of Chris-Craft
Acquisition of Chris-Craft
ย 
March Investor Presentation
March Investor PresentationMarch Investor Presentation
March Investor Presentation
ย 
Csod investor deck first quarter fina lv3
Csod investor deck first quarter fina lv3Csod investor deck first quarter fina lv3
Csod investor deck first quarter fina lv3
ย 
Aveda energy investor presentation september 2013
Aveda energy investor presentation september  2013Aveda energy investor presentation september  2013
Aveda energy investor presentation september 2013
ย 
Csod investor deck third quarter1052015
Csod investor deck third quarter1052015Csod investor deck third quarter1052015
Csod investor deck third quarter1052015
ย 
Investor presentation february 2015
Investor presentation   february 2015Investor presentation   february 2015
Investor presentation february 2015
ย 
Aimia Investor Meetings - September 2014
Aimia Investor Meetings - September 2014Aimia Investor Meetings - September 2014
Aimia Investor Meetings - September 2014
ย 
Amg investor presentation november 2014 final
Amg   investor presentation november 2014 finalAmg   investor presentation november 2014 final
Amg investor presentation november 2014 final
ย 
Investor presentation sept.oct_2010_r
Investor presentation sept.oct_2010_rInvestor presentation sept.oct_2010_r
Investor presentation sept.oct_2010_r
ย 
Investor Day 2013: Aeroplan 2.0
Investor Day 2013: Aeroplan 2.0Investor Day 2013: Aeroplan 2.0
Investor Day 2013: Aeroplan 2.0
ย 
Genworth MI Canada Inc. - Investor Presentation May/June 2013
Genworth MI Canada Inc. - Investor Presentation May/June 2013Genworth MI Canada Inc. - Investor Presentation May/June 2013
Genworth MI Canada Inc. - Investor Presentation May/June 2013
ย 

Similar to Baird ESG Investor Conference

Baml leveraged finance conference final
Baml leveraged finance conference   finalBaml leveraged finance conference   final
Baml leveraged finance conference final
masoniteinvestors
ย 

Similar to Baird ESG Investor Conference (20)

Baird 6.7.22 Investor Deck.pdf
Baird 6.7.22 Investor Deck.pdfBaird 6.7.22 Investor Deck.pdf
Baird 6.7.22 Investor Deck.pdf
ย 
Evine earnings presentation f17 q4
Evine earnings presentation f17 q4Evine earnings presentation f17 q4
Evine earnings presentation f17 q4
ย 
Sem group investor presentation may 2018 final
Sem group investor presentation may 2018 finalSem group investor presentation may 2018 final
Sem group investor presentation may 2018 final
ย 
3 Q15 Earnings Presentation Final
3 Q15 Earnings Presentation Final3 Q15 Earnings Presentation Final
3 Q15 Earnings Presentation Final
ย 
May investor presentation earnings only 05 07-18 440 pm
May investor presentation earnings only 05 07-18 440 pmMay investor presentation earnings only 05 07-18 440 pm
May investor presentation earnings only 05 07-18 440 pm
ย 
Sem group investor presentation march 2018 final
Sem group investor presentation march 2018 finalSem group investor presentation march 2018 final
Sem group investor presentation march 2018 final
ย 
Sem group investor-presentation-march-2018-final
Sem group investor-presentation-march-2018-finalSem group investor-presentation-march-2018-final
Sem group investor-presentation-march-2018-final
ย 
Hfotco investor tour presentation final web
Hfotco investor tour presentation final webHfotco investor tour presentation final web
Hfotco investor tour presentation final web
ย 
Sem group earnings presentation 4q and fy 2017 final
Sem group earnings presentation 4q and fy 2017 finalSem group earnings presentation 4q and fy 2017 final
Sem group earnings presentation 4q and fy 2017 final
ย 
3 q16 earnings presentation final
3 q16 earnings presentation final3 q16 earnings presentation final
3 q16 earnings presentation final
ย 
Sem group earnings presentation 1q 2018 final
Sem group earnings presentation 1q 2018 finalSem group earnings presentation 1q 2018 final
Sem group earnings presentation 1q 2018 final
ย 
Sem group investor presentation post 4Q and FY 2016 earnings final
Sem group investor presentation post 4Q and FY 2016 earnings finalSem group investor presentation post 4Q and FY 2016 earnings final
Sem group investor presentation post 4Q and FY 2016 earnings final
ย 
Sem group investor presentation february 2017 final
Sem group investor presentation february 2017 finalSem group investor presentation february 2017 final
Sem group investor presentation february 2017 final
ย 
2 q 2016 final3
2 q 2016 final32 q 2016 final3
2 q 2016 final3
ย 
Baml leveraged finance conference final
Baml leveraged finance conference   finalBaml leveraged finance conference   final
Baml leveraged finance conference final
ย 
1 q16 earnings presentation final
1 q16 earnings presentation final1 q16 earnings presentation final
1 q16 earnings presentation final
ย 
4 q full year 2016 final
4 q full year 2016 final4 q full year 2016 final
4 q full year 2016 final
ย 
Baml housing investor presentation final (12 09 15)
Baml housing investor presentation final (12 09 15)Baml housing investor presentation final (12 09 15)
Baml housing investor presentation final (12 09 15)
ย 
New york auto show final
New york auto show finalNew york auto show final
New york auto show final
ย 
Sem group investor presentation 3q 2018 final
Sem group investor presentation 3q 2018 finalSem group investor presentation 3q 2018 final
Sem group investor presentation 3q 2018 final
ย 

More from WinnebagoInd

More from WinnebagoInd (16)

CL King Conference Presentation - September 2019
CL King Conference Presentation - September 2019CL King Conference Presentation - September 2019
CL King Conference Presentation - September 2019
ย 
CL King Conference September 2019
CL King Conference   September 2019CL King Conference   September 2019
CL King Conference September 2019
ย 
Jefferies Conference - August 2019
Jefferies Conference -   August 2019Jefferies Conference -   August 2019
Jefferies Conference - August 2019
ย 
SunTrust NDR - February 2019
SunTrust NDR - February 2019SunTrust NDR - February 2019
SunTrust NDR - February 2019
ย 
Sidoti NDR - February 19 & 20, 2019
Sidoti NDR - February 19 & 20, 2019Sidoti NDR - February 19 & 20, 2019
Sidoti NDR - February 19 & 20, 2019
ย 
BMO Conference - December 2018
BMO Conference - December 2018BMO Conference - December 2018
BMO Conference - December 2018
ย 
Sidoti NDR - November, 2018
Sidoti NDR - November, 2018Sidoti NDR - November, 2018
Sidoti NDR - November, 2018
ย 
CL King Best Ideas Conference โ€“ September, 2018
CL King Best Ideas Conference โ€“ September, 2018CL King Best Ideas Conference โ€“ September, 2018
CL King Best Ideas Conference โ€“ September, 2018
ย 
Baird Conference Investor Deck
Baird Conference Investor DeckBaird Conference Investor Deck
Baird Conference Investor Deck
ย 
Baird Conference Presentation June, 7, 2018
Baird Conference Presentation June, 7, 2018 Baird Conference Presentation June, 7, 2018
Baird Conference Presentation June, 7, 2018
ย 
WGO Investor Presentation September 2017
WGO Investor Presentation September 2017WGO Investor Presentation September 2017
WGO Investor Presentation September 2017
ย 
WGO Investor Presentation - June 2017
WGO Investor Presentation - June 2017WGO Investor Presentation - June 2017
WGO Investor Presentation - June 2017
ย 
WGO Investor Presentation - June 2017
WGO Investor Presentation - June 2017WGO Investor Presentation - June 2017
WGO Investor Presentation - June 2017
ย 
WGO Investor Presentation November 2016
WGO Investor Presentation November 2016WGO Investor Presentation November 2016
WGO Investor Presentation November 2016
ย 
InvestMNt conference- WGO Presentation
InvestMNt conference- WGO PresentationInvestMNt conference- WGO Presentation
InvestMNt conference- WGO Presentation
ย 
Wi ir preso_20160801 updated v4
Wi ir preso_20160801 updated v4Wi ir preso_20160801 updated v4
Wi ir preso_20160801 updated v4
ย 

Recently uploaded

Editing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxxEditing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxx
MollyBrown86
ย 
Ambala Escorts Service โ˜Ž๏ธ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service โ˜Ž๏ธ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...Ambala Escorts Service โ˜Ž๏ธ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service โ˜Ž๏ธ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
mriyagarg453
ย 
Top Rated Call Girls In Podanur ๐Ÿ“ฑ {7001035870} VIP Escorts Podanur
Top Rated Call Girls In Podanur ๐Ÿ“ฑ {7001035870} VIP Escorts PodanurTop Rated Call Girls In Podanur ๐Ÿ“ฑ {7001035870} VIP Escorts Podanur
Top Rated Call Girls In Podanur ๐Ÿ“ฑ {7001035870} VIP Escorts Podanur
dharasingh5698
ย 
VIP Call Girls Kheda 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Kheda 7001035870 Whatsapp Number, 24/07 BookingVIP Call Girls Kheda 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Kheda 7001035870 Whatsapp Number, 24/07 Booking
dharasingh5698
ย 
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 BookingVIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
dharasingh5698
ย 
๐Ÿ’š๐Ÿ˜‹ Saharanpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
๐Ÿ’š๐Ÿ˜‹ Saharanpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹๐Ÿ’š๐Ÿ˜‹ Saharanpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
๐Ÿ’š๐Ÿ˜‹ Saharanpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
nirzagarg
ย 
High Profile Call Girls in Pune (Adult Only) 8005736733 Escort Service 24x7 ...
High Profile Call Girls in Pune  (Adult Only) 8005736733 Escort Service 24x7 ...High Profile Call Girls in Pune  (Adult Only) 8005736733 Escort Service 24x7 ...
High Profile Call Girls in Pune (Adult Only) 8005736733 Escort Service 24x7 ...
SUHANI PANDEY
ย 
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
SUHANI PANDEY
ย 
๐Ÿ’š๐Ÿ˜‹ jamshedpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
๐Ÿ’š๐Ÿ˜‹ jamshedpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹๐Ÿ’š๐Ÿ˜‹ jamshedpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
๐Ÿ’š๐Ÿ˜‹ jamshedpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
nirzagarg
ย 
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
SUHANI PANDEY
ย 
Terna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results PresentationTerna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results Presentation
Terna SpA
ย 

Recently uploaded (20)

Editing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxxEditing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxx
ย 
Western Copper and Gold - May 2024 Presentation
Western Copper and Gold - May 2024 PresentationWestern Copper and Gold - May 2024 Presentation
Western Copper and Gold - May 2024 Presentation
ย 
Ambala Escorts Service โ˜Ž๏ธ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service โ˜Ž๏ธ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...Ambala Escorts Service โ˜Ž๏ธ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service โ˜Ž๏ธ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
ย 
Top Rated Call Girls In Podanur ๐Ÿ“ฑ {7001035870} VIP Escorts Podanur
Top Rated Call Girls In Podanur ๐Ÿ“ฑ {7001035870} VIP Escorts PodanurTop Rated Call Girls In Podanur ๐Ÿ“ฑ {7001035870} VIP Escorts Podanur
Top Rated Call Girls In Podanur ๐Ÿ“ฑ {7001035870} VIP Escorts Podanur
ย 
VIP Call Girls Kheda 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Kheda 7001035870 Whatsapp Number, 24/07 BookingVIP Call Girls Kheda 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Kheda 7001035870 Whatsapp Number, 24/07 Booking
ย 
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 BookingVIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
ย 
Teck Supplemental Information, May 2, 2024
Teck Supplemental Information, May 2, 2024Teck Supplemental Information, May 2, 2024
Teck Supplemental Information, May 2, 2024
ย 
๐Ÿ’š๐Ÿ˜‹ Saharanpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
๐Ÿ’š๐Ÿ˜‹ Saharanpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹๐Ÿ’š๐Ÿ˜‹ Saharanpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
๐Ÿ’š๐Ÿ˜‹ Saharanpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
ย 
High Profile Call Girls in Pune (Adult Only) 8005736733 Escort Service 24x7 ...
High Profile Call Girls in Pune  (Adult Only) 8005736733 Escort Service 24x7 ...High Profile Call Girls in Pune  (Adult Only) 8005736733 Escort Service 24x7 ...
High Profile Call Girls in Pune (Adult Only) 8005736733 Escort Service 24x7 ...
ย 
Osisko Gold Royalties Ltd - Q1 2024 Results
Osisko Gold Royalties Ltd - Q1 2024 ResultsOsisko Gold Royalties Ltd - Q1 2024 Results
Osisko Gold Royalties Ltd - Q1 2024 Results
ย 
ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdfITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
ITAU EQUITY_STRATEGY_WARM_UP_20240505 DHG.pdf
ย 
The Leonardo 1Q 2024 Results Presentation
The Leonardo 1Q 2024 Results PresentationThe Leonardo 1Q 2024 Results Presentation
The Leonardo 1Q 2024 Results Presentation
ย 
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
ย 
countries with the highest gold reserves in 2024
countries with the highest gold reserves in 2024countries with the highest gold reserves in 2024
countries with the highest gold reserves in 2024
ย 
Teekay Corporation Q1-24 Earnings Results
Teekay Corporation Q1-24 Earnings ResultsTeekay Corporation Q1-24 Earnings Results
Teekay Corporation Q1-24 Earnings Results
ย 
Vijayawada ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready F...
Vijayawada ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready F...Vijayawada ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready F...
Vijayawada ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready F...
ย 
SME IPO Opportunity and Trends of May 2024
SME IPO Opportunity and Trends of May 2024SME IPO Opportunity and Trends of May 2024
SME IPO Opportunity and Trends of May 2024
ย 
๐Ÿ’š๐Ÿ˜‹ jamshedpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
๐Ÿ’š๐Ÿ˜‹ jamshedpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹๐Ÿ’š๐Ÿ˜‹ jamshedpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
๐Ÿ’š๐Ÿ˜‹ jamshedpur Escort Service Call Girls, 9352852248 โ‚น5000 To 25K With AC๐Ÿ’š๐Ÿ˜‹
ย 
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
ย 
Terna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results PresentationTerna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results Presentation
ย 

Baird ESG Investor Conference

  • 1. Baird ESG Investor Conference February 24, 2021
  • 2. 2 Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve potential risks and uncertainties. A number of factors could cause actual results to differ materially from these statements, including, but not limited to competition and new product introductions by competitors, our ability to attract and retain qualified personnel, increases in market compensation rates, business or production disruptions, sales order cancellations, risk related to the terms of our credit agreement and compliance with debt covenants and leverage ratios, stock price volatility and share dilution, disruptions or unanticipated costs from facility expansions, availability of labor, a slowdown in the economy, low consumer confidence, the effect of global tensions, increases in interest rates, availability of credit, availability of financing for RV and marine dealers, impairment of good will, risk related to cyclicality and seasonality of our business, slower than anticipated sales of new or existing products, integration of operations relating to merger and acquisition activities generally, the possibility that the Newmar acquisition may not perform as expected or may not result in earnings growth, difficulties and expenses related to integrating Newmar into our business, inadequate liquidity or capital resources, inventory and distribution channel management, our ability to innovate, our reliance on large dealer organizations, significant increase in repurchase obligations, availability and price of fuel, availability of chassis and other key component parts, increased material and component costs, exposure to warranty claims, ability to protect our intellectual property, exposure to product liability claims, dependence on information systems and web applications, any unexpected expenses related to the implementation of our enterprise resource planning system, impacts of public health crises, such as COVID-19, risk related to data security, cyber attack, governmental regulation, including for climate change and risk related to anti-takeover provisions applicable to us. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the company's filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or from the company upon request. The company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any changes in the company's expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based, except as required by law. INDUSTRY AND MARKET DATA In this presentation, we rely on and refer to information and statistics regarding market participants in the sectors in which we compete and other industry data. We obtained this information and statistics from third-party sources, including reports by market research firms. While such information is believed to be reliable, for the purposes used herein, we make no representation or warranty with respect to the accuracy of such information. Any and all trademarks and trade names referred to in this presentation are the property of their respective owners. NON-GAAP FINANCIAL MEASURES This presentation includes financial information prepared in accordance with accounting principles generally accepted in the U.S. (โ€œGAAPโ€), as well as certain adjusted or non-GAAP financial measures such as EBITDA, adjusted EBITDA and free cash flow. EBITDA is defined as net income before interest expense, provision for income taxes, and depreciation and amortization expense. Adjusted EBITDA is defined as net income before interest expense, provision for income taxes, depreciation and amortization expense, and other adjustments made in order to present comparable results from period to period. Free cash flow is defined as cash flow from operations less capital expenditures. These non-GAAP financial measures, which are not calculated or presented in accordance with GAAP, have been provided as information supplemental and in addition to the financial measures presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with, the GAAP financial measures presented herein. The non-GAAP financial measures presented may differ from similar measures used by other companies. Please see slides 34 and 35 for reconciliations of these non-GAAP measures to the nearest GAAP measure. We have included these non-GAAP performance measures as comparable measures to illustrate the effect of non-recurring transactions occurring during the year and improve comparability of our results from period to period. Management uses these non- GAAP financial measures (a) to evaluate our historical and prospective financial performance and trends as well as our performance relative to competitors and peers; (b) to measure operational profitability on a consistent basis; (c) in presentations to the members of our board of directors to enable our board of directors to have the same measurement basis of operating performance as is used by management in its assessments of performance and in forecasting and budgeting for our company; (d) to evaluate potential acquisitions; and (e) to ensure compliance with covenants and restricted activities under the terms of our credit facilities. We believe these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties to evaluate companies in our industry.
  • 3. We help our customers explore the outdoors, enabling extraordinary mobile experiences as they travel, live, work, and play. We will be the trusted leader in outdoor lifestyle solutions by providing exceptional innovation, quality and service in the industries we engage. To create lifetime advocates of our brands through a relentless focus on delivering an unsurpassed customer experience. Our North Star
  • 4. Our Unique Story Outdoor lifestyle brands Diversified โ€“ only public RV, marine and specialty vehicle company Premium quality, innovation, and service Vision not defined by one product or segment Top talent is a blend of Outdoor and other industry experience Significant growth runway
  • 5. 5 Enterprise Strategic Priorities Strengthen an Inclusive, High-Performance Culture โ€ข Purpose-driven โ€ข Collaborative โ€ข Results-focused Build Exceptional Outdoor Lifestyle Brands โ€ข Organic Growth โ€ข Smart Diversification โ€ข Premium Offerings Utilize Technology and Information as Business Catalysts โ€ข Innovation โ€ข Productivity / Agility โ€ข Digital Competency Create a Lifetime of Customer Intimacy โ€ข Consumer Insights โ€ข Channel Partnerships โ€ข Shared Experiences Drive Operational Excellence and Portfolio Synergy โ€ข Employee Safety / Health โ€ข Product Quality โ€ข Continuous Improvement
  • 7. Winnebago Industries: Leading Premium Brands Quality, Service and Innovation are the Golden Threads in Everything We Do
  • 8. 2016-2020 RV Market Share Performance FY2016 3.0% FY2017 7.1% FY2018 8.4% FY2019 9.5% FY2020 11.3% Source: Statistical Surveys Inc.; represents unit volume DEC 2020 (TTM) 11.5% 8
  • 9. $223 $300 $307 $313 $371 2017 2018 2019 2020 Q121 TTM $1,547 $2,017 $1,986 $2,356 $2,560 2017 2018 2019 2020 Q121 TTM WGO IND Net Revenue WGO IND Gross Profit $ - Millions $139 $182 $180 $168 $215 2017 2018 2019 2020 Q121 TTM WGO IND Profit $ - Millions % of revenue Adj EBITDA $ - millions % of revenue WGO IND Free Cash Flow $83 $55 $93 $238 $154 2017 2018 2019 2020 Q121 TTM $ - Millions FCF = Op CF less Cap Ex 11.6% 14.4% 14.9% 13.3% 14.5% 6.4% 9.0% 9.0% 7.1% 8.4% 1.7X 2017 1.6X 2017 1.9X 2017 1.7X 2017 Delivering Strong Financial Results
  • 10. 10 Capital Allocation Priorities โ€ข Reinvest in organic business growth โ€ข Consider selective inorganic growth opportunities โ€ข Optimize capital structure, target 0.9x-1.5x leverage ratio โ€ข Maintain adequate liquidity โ€ข Return cash to shareholders โ€ข Consistent quarterly dividends โ€ข Share repurchases 97 83 134 270 189 FY2017 FY2018 FY2019 FY2020 LTM 11/28/20 Net Cash from Operations ($ - millions) 14 29 41 32 34 FY2017 FY2018 FY2019 FY2020 LTM 11/28/20 Capital Expenditures ($ - millions) 14 19 22 15 25 FY2017 FY2018 FY2019 FY2020 LTM 11/28/20 Cash Returned to Shareholders1 ($ - millions) 1 โ€“ defined as dividends plus share repurchases, excluding shares repurchased for employee compensation purposes
  • 11. 1.4 1.6 2.0 2.5 1.5 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Q1-18Q2-18Q3-18Q4-18Q1-19Q2-19Q3-19Q4-19Q1-20Q2-20Q3-20Q4-20Q1-21 Leverage Ratio Leverage Ratio Target Range (0.9x โ€“ 1.5x) 11 Liquidity/Debt Profile Proven track record of maintaining ample liquidity and rapid debt paydown post acquisitions Returned to top end of targeted leverage range of 0.9X to 1.5X $192.5M ABL available (currently untapped) $300M of convertible notes @ 1.5% due 2025 $300M of secured notes @ 6.25% due 2028 Covid-19 EBITDA Impact
  • 12. 12 Strong Interest In The Outdoors 60% of the U.S. population pursued an outdoor activity in 2020* 68% of consumers under the age of 55 participated in an outdoor activity such as camping, hiking, boating or visiting a state or national park* 31% was first time participating in an outdoor activity* * Padilla Spotlight Methodology: online survey conducted among U.S. consumers at least 18 years or older between November 13 and November 17, 2020. Responses were weighted to U.S. Census for age, gender and ethnicity. There were 1,984 completed surveys. ** Kampgrounds of America; Fall 2020 Update report issued October 1, 2020 *** CBRE Hotels Advisory Group report issued May 15, 2018 of new campers, since the pandemic, are millennials** 55% of new campers, since the pandemic, have children** 82% RV vacations are the most economical โ€“ on average 27% to 62% less expensive per day compared to other vacation options*** 12
  • 13. 2020 report aligns with Global Reporting Initiative (GRI)
  • 14. ESG journey progressing, despite COVID-19 โ€ข Waste management plan implementation begins 2021 โ€ข Exploring alternative energy (solar) to enhance operational efficiency โ€ข Environmental Management System (EMS) based on ISO- 14001:2015 โ€ข Safety: COVID-19 response very effective, maintaining safety gains โ€ข People: Diversity, Equity and Inclusion (DEI) strategy and goals progress โ€ข Community: increased grantmaking, launched WGO Together Fund providing $425,000 in pandemic hardship assistance โ€ข Enhanced corporate board engagement in ESG โ€ข Policies updated: Human Rights, EHSS, Supplier Code of Conduct (in progress)