Thor Investor Presentation Citi Conference 5.30.13


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Thor Investor Presentation Citi Conference 5.30.13

  1. 1. www.thorindustries.comCITI 2013 GLOBALCONSUMER CONFERENCEMAY 30, 2013
  2. 2. 2 This presentation includes certain statements that are “forward looking” statementswithin the meaning of Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended (the “ExchangeAct”). These forward looking statements involve uncertainties and risks. There can beno assurance that actual results will not differ from our expectations. Factors whichcould cause materially different results include, among others, price fluctuations,material or chassis supply restrictions, legislative and regulatory developments, thecosts of compliance with increased governmental regulation, legal issues, thepotential impact of increased tax burdens on our dealers and retail consumers, lowerconsumer confidence and the level of discretionary consumer spending, the level ofstate and federal funding available for transportation, interest rate increases,restrictive lending practices, recent management changes, the success of newproduct introductions, the pace of acquisitions, asset impairment charges, coststructure improvements, competition and general economic conditions and the otherrisks and uncertainties discussed more fully in Item 1A of our Annual Report on Form10-K for the year ended July 31, 2012 and Part II, Item 1A of our Quarterly Report onForm 10-Q for the period ended January 31, 2013. We disclaim any obligation orundertaking to disseminate any updates or revisions to any forward lookingstatements contained in this presentation or to reflect any change in our expectationsafter the date of this presentation or any change in events, conditions orcircumstances on which any statement is based, except as required by law.Forward Looking Statements
  3. 3. 3 The sole owner of operating subsidiaries that represent the world’s largestmanufacturer of recreation vehicles• Founded in 1980 by Wade Thompson & Peter Orthwein with the acquisitionof Airstream, Inc.• #1 in overall RV 36.3% of market*• #1 in Travel Trailers 33.2% of market*• #1 in Fifth Wheels 52.4% of market*• #2 in Motorhomes 19.8% of market** The sole owner of operating subsidiaries that combined represent one of the largestmanufacturers of mid-size buses in North America - 34% of market*** Approximately 8,800 employees 96 facilities in 7 US states 6.1 million square feet under roofWho is THORSource: *Statistical Surveys, Inc., YTD U.S. and Canada units December 2012, excluding fold-downs **Motorhomes includes Class A, B and C *** MSBMA, YTD September 2012
  4. 4. 4Travel TrailersFifth WheelsMotor HomesBusesTHOR’s Product RangeTowableRV$2,285,86374%MotorizedRV$353,93512%Bus Group$444,86214%FY2012 Sales** Fiscal year ended July 31, 2012
  5. 5. 5THOR Subsidiaries: RV
  6. 6. 6THOR’s Subsidiaries : Bus Group
  7. 7. Recent Developments
  8. 8. 8 Thor’s management team recently developed a three-year strategic plan focused ongrowth and margin improvement The Strategic Plan was developed using a bottoms-up approach involving each of theCompany’s operating subsidiaries and management teams Key elements of growth include product innovation and capacity expansion – targetingmid- to high-single-digit growth Key elements of margin expansion include improved product quality, value addedcontent and features, and volume leverage – targeting 200 basis points of gross marginimprovement over the planning horizonThree-Year Strategic Plan
  9. 9. 9 Record sales performance in the quarter, the first time in Thor’s history of quarterly salesexceeding $1 billion Continued revenue performance in both RV segments in quarter – strength in motorizedand towable RVs with stable performance in bus segment Ongoing strength in motorized RVs, suggesting consumer demand and financingavailability are supportive of a recovery gaining momentum RV dealers are well positioned for the seasonal peak selling season in the spring andsummer, consumer traffic shows signs of continued strength Dealers remain optimistic, dealers and lenders comfortable with current inventory levels Increasing RV backlogSale of Ambulance Business: Non-core business co-located at Elkhart bus complex Allows for refocus and added capacity for the bus businessComments on 3rd Quarter 2013 Preliminary Sales
  10. 10. 10RV Market Motorized Wholesale Trends: Units(000’s)68.996.6156.1160.2157.264.128.535.441.269.582.068.767.773.772.861.152.341.946.951.358.252.855.355.163.571.561.049.260.462.071.761.455.855.428.413.225.224.828.231.91974197519761977197819791980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010201120122013(e)Historical Data: Recreation Vehicle Industry Association, Calendar year 2013: RVIAestimate as of Spring 2013
  11. 11. 11RV Market Towable Wholesale Trends: Units(000’s)126.3150.6189.7167.9159.890. Data: Recreation Vehicle Industry Association, excluding camping trailers andtruck campers, Calendar year 2013: RVIA estimate as of Spring 2013
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