The document summarizes a presentation by Winnebago Industries on its leadership, strategic priorities, financial results, the RV market, and growth opportunities. Key points include strengthening its core RV business, expanding into new profitable markets, leveraging innovation, delivering solid financial growth, and total RV retail in North America being up year-over-year with Winnebago gaining market share.
CL King Conference Presentation - September 2019WinnebagoInd
Michael Happe, CEO of Winnebago Industries, discussed the company's strategic priorities and recent acquisition of Newmar Corporation. The key strategic priorities are to elevate excellence in operations, strengthen and expand the core RV business, build a high-performance culture, expand into new profitable markets, and leverage innovation. The acquisition of Newmar will help strengthen the motorhome business, create synergies, and be immediately accretive to cash earnings per share. Newmar adds a complementary high-end motorhome product portfolio and dealer network.
Winnebago Industries Investor Day 2019WinnebagoInd
Winnebago Industries held an investor day in 2019 to provide an overview of the company and its strategic priorities. The presentation highlighted Winnebago's transformation into an outdoor lifestyle company through brand building, premium product development, and business diversification. It discussed strategic acquisitions like Newmar to expand into new market segments. The presentation also reviewed Winnebago's financial performance over the past 5 years, which has seen increased revenue, market share, and profitability. It outlined strategic priorities around operational excellence, growing the core RV business, developing a high-performance culture, and expanding into new profitable markets.
Winnebago Industries plans to acquire Newmar Corporation for approximately $344 million in cash and stock. Newmar is a leading manufacturer of Class A diesel motorhomes and will expand Winnebago's premium motorhome portfolio. The acquisition is expected to be immediately accretive to cash flow and earnings. Winnebago believes the cultural and strategic alignment between the companies will allow them to achieve synergies and leverage their combined strengths to drive long-term growth.
The document provides an overview of Winnebago Industries' leadership team and an upcoming investor presentation. It lists the members of the corporate leadership team and includes a forward-looking statement disclaimer. Additionally, it provides a high-level company overview, outlines Winnebago's strategic priorities, and summarizes its strategic transformation and operational profile.
Winnebago Industries Investor Day PresentationWinnebagoInd
The document outlines the agenda for Winnebago Industries' Investor Day 2017, which includes presentations on the company's outdoor/RV overview, CEO update, business unit updates, and financial update. The agenda runs from 8:00 AM to 2:00 PM and will include presentations from Winnebago's leadership team, including the Chairman, CEO, and heads of its business units. It will provide investors with information on Winnebago's business, strategy, financials, and outlook.
Winnebago Industries IR Presentation - April 2019WinnebagoInd
The document provides forward-looking statements and notices regarding Winnebago Industries' presentation. It discusses potential risks and uncertainties that could cause actual results to differ from projections. It also notes the company's representation that the information in the presentation does not constitute material non-public information. The presenters are then listed as Michael Happe, Bryan Hughes, and Bert Jameson.
This presentation contains forward-looking statements and discusses risks and uncertainties that could cause actual results to differ from projections. It provides an overview of Winnebago Industries' portfolio of outdoor lifestyle brands in RV, marine, and specialty vehicles. The presentation discusses Winnebago's strategic priorities, integrated operating model, investment thesis, growing revenue and market share gains, expanding portfolio and profitability, capital allocation approach, strong balance sheet and liquidity, and the large and growing outdoor recreation industry.
This document provides an overview of Winnebago Industries' leadership team and business segments. It lists the names and titles of the corporate leadership team members. It then provides a high-level forward-looking statement disclaimer and outlines the company's strategic priorities, including strengthening its core RV business and expanding into new profitable markets.
CL King Conference Presentation - September 2019WinnebagoInd
Michael Happe, CEO of Winnebago Industries, discussed the company's strategic priorities and recent acquisition of Newmar Corporation. The key strategic priorities are to elevate excellence in operations, strengthen and expand the core RV business, build a high-performance culture, expand into new profitable markets, and leverage innovation. The acquisition of Newmar will help strengthen the motorhome business, create synergies, and be immediately accretive to cash earnings per share. Newmar adds a complementary high-end motorhome product portfolio and dealer network.
Winnebago Industries Investor Day 2019WinnebagoInd
Winnebago Industries held an investor day in 2019 to provide an overview of the company and its strategic priorities. The presentation highlighted Winnebago's transformation into an outdoor lifestyle company through brand building, premium product development, and business diversification. It discussed strategic acquisitions like Newmar to expand into new market segments. The presentation also reviewed Winnebago's financial performance over the past 5 years, which has seen increased revenue, market share, and profitability. It outlined strategic priorities around operational excellence, growing the core RV business, developing a high-performance culture, and expanding into new profitable markets.
Winnebago Industries plans to acquire Newmar Corporation for approximately $344 million in cash and stock. Newmar is a leading manufacturer of Class A diesel motorhomes and will expand Winnebago's premium motorhome portfolio. The acquisition is expected to be immediately accretive to cash flow and earnings. Winnebago believes the cultural and strategic alignment between the companies will allow them to achieve synergies and leverage their combined strengths to drive long-term growth.
The document provides an overview of Winnebago Industries' leadership team and an upcoming investor presentation. It lists the members of the corporate leadership team and includes a forward-looking statement disclaimer. Additionally, it provides a high-level company overview, outlines Winnebago's strategic priorities, and summarizes its strategic transformation and operational profile.
Winnebago Industries Investor Day PresentationWinnebagoInd
The document outlines the agenda for Winnebago Industries' Investor Day 2017, which includes presentations on the company's outdoor/RV overview, CEO update, business unit updates, and financial update. The agenda runs from 8:00 AM to 2:00 PM and will include presentations from Winnebago's leadership team, including the Chairman, CEO, and heads of its business units. It will provide investors with information on Winnebago's business, strategy, financials, and outlook.
Winnebago Industries IR Presentation - April 2019WinnebagoInd
The document provides forward-looking statements and notices regarding Winnebago Industries' presentation. It discusses potential risks and uncertainties that could cause actual results to differ from projections. It also notes the company's representation that the information in the presentation does not constitute material non-public information. The presenters are then listed as Michael Happe, Bryan Hughes, and Bert Jameson.
This presentation contains forward-looking statements and discusses risks and uncertainties that could cause actual results to differ from projections. It provides an overview of Winnebago Industries' portfolio of outdoor lifestyle brands in RV, marine, and specialty vehicles. The presentation discusses Winnebago's strategic priorities, integrated operating model, investment thesis, growing revenue and market share gains, expanding portfolio and profitability, capital allocation approach, strong balance sheet and liquidity, and the large and growing outdoor recreation industry.
This document provides an overview of Winnebago Industries' leadership team and business segments. It lists the names and titles of the corporate leadership team members. It then provides a high-level forward-looking statement disclaimer and outlines the company's strategic priorities, including strengthening its core RV business and expanding into new profitable markets.
WGO Investor Presentation November 2016WinnebagoInd
The document provides an overview of Winnebago Industries and the recreational vehicle industry. It summarizes that Winnebago is well positioned in the large and growing RV market. It has iconic brands known for quality and innovation. The acquisition of Grand Design accelerates Winnebago's strategy by providing a more balanced portfolio across motorized and towable RVs and greater scale. Favorable industry dynamics such as demographics support continued expansion in the RV industry.
This investor presentation provides an overview of Winnebago Industries:
1) Winnebago Industries has transformed into a larger company with a broader product portfolio and greater scale and diversification across motorized and towable RV segments.
2) The company has established strategic priorities to elevate operational excellence, strengthen its core RV business, build a high performance culture, expand into new profitable markets, and leverage innovation.
3) Favorable industry trends including growing popularity of outdoor lifestyles, strong consumer confidence and demographics are driving growth in the large and attractive North American RV market.
1) The presentation provides an overview of Winnebago Industries and discusses its strategic priorities going forward, including elevating operational excellence, strengthening and expanding its core RV business, and building a high performance culture.
2) The acquisition of Grand Design RV has created a winning multi-brand platform and significantly enhanced Winnebago's financial profile and scale. Integration is progressing ahead of expectations.
3) Favorable demographic and economic trends are driving growth in the outdoor lifestyle industry, presenting opportunities for Winnebago to further penetrate the market.
Winnebago Industries is acquiring Newmar, a manufacturer of premium Class A motorhomes, for approximately $344 million in cash and stock. The acquisition enhances Winnebago's position in the motorhome market and expands its premium product portfolio. It is expected to be immediately accretive to cash earnings per share. The combined company will have greater scale and profitability in the motorhome segment.
This document provides an overview of Winnebago Industries for potential investors. It summarizes Winnebago's business strategy, financial performance, product portfolio, and market position. Key points include:
- Winnebago has a diversified portfolio of outdoor lifestyle brands across motorhomes, towables, and marine with the goal of creating lifetime customers.
- Financial results have strengthened following the acquisition of Newmar, with increasing revenues, profits, and unit deliveries reported over the last year.
- The company has a leading market share in both motorhome and towable segments in North America.
This presentation discusses Winnebago Industries' investor opportunities. It highlights the large market size for motorhomes and towables, solid recent demand growth, their iconic brand, favorable economic conditions, a reorganized executive team focused on growth and profitability, and a healthy cash-rich balance sheet. The presentation also provides an industry update, company history and products, competitive advantages, financial performance overview, and future strategic priorities around building a performance culture, brand revitalization, streamlining operations, and expanding markets.
Thor Industries is one of the world's largest manufacturers of recreational vehicles (RVs). It has two main business segments: towable RVs like travel trailers and fifth wheels, and motorized RVs like Class A, B, and C motorhomes. Thor acquired Jayco, another major RV manufacturer, in June 2016. The acquisition was strategic as Jayco complements Thor's existing RV product portfolio and will continue to operate independently under Thor's decentralized business model. Thor has an experienced management team led by Executive Chairman Peter Orthwein and President/CEO Robert Martin.
This presentation from Winnebago Industries' 2016 investment conference provides an overview of the company and its strategy. Key points include:
- Winnebago is an iconic American brand synonymous with motorhomes that has the top market share in the motorhome industry.
- Management has laid out a vision and strategic priorities to build a performance culture, revitalize the brand, streamline operations, expand into new markets, and elevate excellence.
- The RV industry benefits from favorable demographic trends and growing popularity of outdoor recreation, representing a large market opportunity for continued growth.
WGO Investor Presentation September 2017WinnebagoInd
Winnebago Industries held an investor presentation in September 2017 to provide an overview of the company. The presentation highlighted that Winnebago has transformed into a larger and more diversified company through the acquisition of Grand Design, which has enhanced its scale, revenue base, and profitability. It summarized Winnebago's strategic focus on operational excellence, profitable growth, and building an outdoor lifestyle brand, and outlined its priorities to strengthen its motorized and towable RV businesses and expand into new markets. The presentation also reviewed Winnebago's financial performance and capital allocation approach to investing in the business and returning capital to shareholders.
Thor Industries is one of the world's largest manufacturers of recreational vehicles. It has two main business segments: towable RVs such as travel trailers and fifth wheels, and motorized RVs including Class A, B, and C motorhomes. Thor has experienced consistent sales growth and increasing profits and earnings per share over the past decade. It aims to provide superior RV products through innovation while maintaining strong relationships with consumers, dealers, and suppliers for long-term sustainable growth.
The document is an investor presentation from Thor Industries discussing their third quarter 2017 results and outlook. Some key points:
- Thor reported record revenues and net income for the 13th consecutive quarter. Revenues increased 57% year-over-year to $2.015 billion due to organic growth and acquisitions.
- Consolidated RV backlogs more than doubled to $2.36 billion compared to $1.06 billion in the prior year third quarter, driven by strong consumer demand for their travel trailers and motorhomes.
- Thor remains optimistic about future growth due to continued strength in the RV industry macro environment and expanding consumer base. They are increasing production capacity through new plants and expansions.
Thor Industries reported record fourth quarter 2017 results with net sales up 49.5% to $1.93 billion compared to the prior year. Net income increased 44.3% to $119.5 million. Demand remains strong, driven by continued consumer preference for Thor's affordably priced RVs. RV backlogs nearly doubled year-over-year to $2.33 billion. Gross margins declined due primarily to changes in product mix toward more entry-level units and the acquisition of Jayco, which has shown significant margin improvement since the acquisition. Thor expects continued strength in consumer demand and the RV industry environment.
This document discusses Thor Industries' acquisition of Jayco. Some key points:
- Jayco is a $1.5 billion RV manufacturer with a complementary product portfolio including travel trailers, folding campers, and motorhomes.
- The acquisition was completed on June 30, 2016 for $576 million in cash to be paid down within 3 years.
- Jayco fits with Thor's decentralized model and will continue to operate independently while benefiting from Thor's support. Jayco generated $70 million in pre-tax profits in 2015.
- The acquisition expands Thor's product offerings and dealer network while being accretive to earnings in the first year. Jayco's margins are slightly dilutive but synerg
This document contains slides from an AIMIA credit rating agency presentation from September 2014. It discusses AIMIA's financial performance in Q2 and the first half of 2014, with Gross Billings up 13.6% and 20.6% respectively. Free Cash Flow was also up significantly for the quarter and year-to-date. The presentation provides details on the drivers of growth and updates AIMIA's guidance targets for 2014.
The document provides an overview of Thor Industries' financial results for the first quarter of fiscal year 2017, ended October 31, 2016. Some key highlights include:
- Revenues grew 65.8% year-over-year to a record $1.71 billion, with the Jayco acquisition contributing $467.1 million.
- Net income increased 55.9% to a record $78.7 million.
- The RV backlog doubled to $2.11 billion, indicating continued strong demand.
- Gross margins were modestly impacted by the Jayco acquisition.
- Capital expenditures and acquisitions continue to invest in future growth.
Intact Financial Corporation is Canada's largest property and casualty insurer with an estimated 17% market share. The presentation outlines Intact's consistent outperformance compared to industry averages over 10 years in return on equity, combined ratio, and premium growth. Intact attributes its success to significant scale advantages, sophisticated pricing and underwriting, in-house claims expertise, and a proven acquisition strategy. The presentation discusses Intact's financial strength and avenues for future growth through firming market conditions, developing existing platforms, consolidating the Canadian market, and expanding beyond existing markets.
PVA is an E&P company focused on transitioning from natural gas to oil production through development of its Eagle Ford Shale position. It has grown its Eagle Ford acreage and is seeing strong production and reserve growth from its Eagle Ford drilling program. PVA is also taking steps to improve its financial liquidity by selling non-core assets and reducing capital spending and dividends. Its strategy is focused on continued expansion of its Eagle Ford drilling inventory and reserves to grow its oil and liquids production and cash flows.
Intact Financial Corporation is Canada's largest property and casualty insurer, with $6.5 billion in annual premiums. The presentation discusses Intact's strong market position in Canada, consistent outperformance of industry benchmarks, and plans to acquire AXA Canada to further strengthen its business. The acquisition of AXA Canada will increase Intact's premium base by over 40% and accelerate its growth profile through enhanced underwriting capabilities and distribution.
Thor Industries is the world's largest manufacturer of RVs. In Q3 2013, Thor saw a 13% increase in consolidated sales and a 6% increase in net income compared to Q3 2012. RV segment sales increased 15% and income increased 31%, driven by strength in towable and motorized RVs. The company also announced the pending $100M sale of its bus business and acquisition of an RV production facility to expand motorized production capacity. Looking forward, management developed a 3-year strategic plan focused on growth and margin expansion through product innovation, capacity expansion, and improved efficiencies.
Intact Financial Corporation is Canada's largest property and casualty insurer with a market share of approximately 17%. Over the past 10 years, IFC has consistently outperformed the industry in key metrics such as return on equity, premium growth, and combined ratio. IFC attributes its success to scale advantages, sophisticated pricing and underwriting, in-house claims expertise, and strategic capital management. IFC aims to continue growing organically and through acquisitions to capitalize on ongoing consolidation opportunities in the fragmented Canadian P&C insurance market.
Winnebago Industries held a Sidoti NDR conference on February 19-20, 2019 to discuss its leadership, strategic priorities, financial results, and business outlook. The company aims to be the trusted leader in outdoor lifestyle solutions through unmatched innovation, quality, and service. It has diversified its business across motorhomes, towables, and other specialty vehicles. Winnebago is delivering solid financial results and pursuing M&A and other opportunities to fuel continued growth.
The document provides an overview of Winnebago Industries' BMO Conference in December 2018. It includes the company leadership, forward-looking statements, strategic priorities, financial results, capital allocation framework, business development approach, and 3-year long range plan. The executive summary highlights the company's growth in recent years through revenue doubling, market share gains, balanced portfolio diversification, new product introductions, and the acquisition of Chris-Craft boats.
WGO Investor Presentation November 2016WinnebagoInd
The document provides an overview of Winnebago Industries and the recreational vehicle industry. It summarizes that Winnebago is well positioned in the large and growing RV market. It has iconic brands known for quality and innovation. The acquisition of Grand Design accelerates Winnebago's strategy by providing a more balanced portfolio across motorized and towable RVs and greater scale. Favorable industry dynamics such as demographics support continued expansion in the RV industry.
This investor presentation provides an overview of Winnebago Industries:
1) Winnebago Industries has transformed into a larger company with a broader product portfolio and greater scale and diversification across motorized and towable RV segments.
2) The company has established strategic priorities to elevate operational excellence, strengthen its core RV business, build a high performance culture, expand into new profitable markets, and leverage innovation.
3) Favorable industry trends including growing popularity of outdoor lifestyles, strong consumer confidence and demographics are driving growth in the large and attractive North American RV market.
1) The presentation provides an overview of Winnebago Industries and discusses its strategic priorities going forward, including elevating operational excellence, strengthening and expanding its core RV business, and building a high performance culture.
2) The acquisition of Grand Design RV has created a winning multi-brand platform and significantly enhanced Winnebago's financial profile and scale. Integration is progressing ahead of expectations.
3) Favorable demographic and economic trends are driving growth in the outdoor lifestyle industry, presenting opportunities for Winnebago to further penetrate the market.
Winnebago Industries is acquiring Newmar, a manufacturer of premium Class A motorhomes, for approximately $344 million in cash and stock. The acquisition enhances Winnebago's position in the motorhome market and expands its premium product portfolio. It is expected to be immediately accretive to cash earnings per share. The combined company will have greater scale and profitability in the motorhome segment.
This document provides an overview of Winnebago Industries for potential investors. It summarizes Winnebago's business strategy, financial performance, product portfolio, and market position. Key points include:
- Winnebago has a diversified portfolio of outdoor lifestyle brands across motorhomes, towables, and marine with the goal of creating lifetime customers.
- Financial results have strengthened following the acquisition of Newmar, with increasing revenues, profits, and unit deliveries reported over the last year.
- The company has a leading market share in both motorhome and towable segments in North America.
This presentation discusses Winnebago Industries' investor opportunities. It highlights the large market size for motorhomes and towables, solid recent demand growth, their iconic brand, favorable economic conditions, a reorganized executive team focused on growth and profitability, and a healthy cash-rich balance sheet. The presentation also provides an industry update, company history and products, competitive advantages, financial performance overview, and future strategic priorities around building a performance culture, brand revitalization, streamlining operations, and expanding markets.
Thor Industries is one of the world's largest manufacturers of recreational vehicles (RVs). It has two main business segments: towable RVs like travel trailers and fifth wheels, and motorized RVs like Class A, B, and C motorhomes. Thor acquired Jayco, another major RV manufacturer, in June 2016. The acquisition was strategic as Jayco complements Thor's existing RV product portfolio and will continue to operate independently under Thor's decentralized business model. Thor has an experienced management team led by Executive Chairman Peter Orthwein and President/CEO Robert Martin.
This presentation from Winnebago Industries' 2016 investment conference provides an overview of the company and its strategy. Key points include:
- Winnebago is an iconic American brand synonymous with motorhomes that has the top market share in the motorhome industry.
- Management has laid out a vision and strategic priorities to build a performance culture, revitalize the brand, streamline operations, expand into new markets, and elevate excellence.
- The RV industry benefits from favorable demographic trends and growing popularity of outdoor recreation, representing a large market opportunity for continued growth.
WGO Investor Presentation September 2017WinnebagoInd
Winnebago Industries held an investor presentation in September 2017 to provide an overview of the company. The presentation highlighted that Winnebago has transformed into a larger and more diversified company through the acquisition of Grand Design, which has enhanced its scale, revenue base, and profitability. It summarized Winnebago's strategic focus on operational excellence, profitable growth, and building an outdoor lifestyle brand, and outlined its priorities to strengthen its motorized and towable RV businesses and expand into new markets. The presentation also reviewed Winnebago's financial performance and capital allocation approach to investing in the business and returning capital to shareholders.
Thor Industries is one of the world's largest manufacturers of recreational vehicles. It has two main business segments: towable RVs such as travel trailers and fifth wheels, and motorized RVs including Class A, B, and C motorhomes. Thor has experienced consistent sales growth and increasing profits and earnings per share over the past decade. It aims to provide superior RV products through innovation while maintaining strong relationships with consumers, dealers, and suppliers for long-term sustainable growth.
The document is an investor presentation from Thor Industries discussing their third quarter 2017 results and outlook. Some key points:
- Thor reported record revenues and net income for the 13th consecutive quarter. Revenues increased 57% year-over-year to $2.015 billion due to organic growth and acquisitions.
- Consolidated RV backlogs more than doubled to $2.36 billion compared to $1.06 billion in the prior year third quarter, driven by strong consumer demand for their travel trailers and motorhomes.
- Thor remains optimistic about future growth due to continued strength in the RV industry macro environment and expanding consumer base. They are increasing production capacity through new plants and expansions.
Thor Industries reported record fourth quarter 2017 results with net sales up 49.5% to $1.93 billion compared to the prior year. Net income increased 44.3% to $119.5 million. Demand remains strong, driven by continued consumer preference for Thor's affordably priced RVs. RV backlogs nearly doubled year-over-year to $2.33 billion. Gross margins declined due primarily to changes in product mix toward more entry-level units and the acquisition of Jayco, which has shown significant margin improvement since the acquisition. Thor expects continued strength in consumer demand and the RV industry environment.
This document discusses Thor Industries' acquisition of Jayco. Some key points:
- Jayco is a $1.5 billion RV manufacturer with a complementary product portfolio including travel trailers, folding campers, and motorhomes.
- The acquisition was completed on June 30, 2016 for $576 million in cash to be paid down within 3 years.
- Jayco fits with Thor's decentralized model and will continue to operate independently while benefiting from Thor's support. Jayco generated $70 million in pre-tax profits in 2015.
- The acquisition expands Thor's product offerings and dealer network while being accretive to earnings in the first year. Jayco's margins are slightly dilutive but synerg
This document contains slides from an AIMIA credit rating agency presentation from September 2014. It discusses AIMIA's financial performance in Q2 and the first half of 2014, with Gross Billings up 13.6% and 20.6% respectively. Free Cash Flow was also up significantly for the quarter and year-to-date. The presentation provides details on the drivers of growth and updates AIMIA's guidance targets for 2014.
The document provides an overview of Thor Industries' financial results for the first quarter of fiscal year 2017, ended October 31, 2016. Some key highlights include:
- Revenues grew 65.8% year-over-year to a record $1.71 billion, with the Jayco acquisition contributing $467.1 million.
- Net income increased 55.9% to a record $78.7 million.
- The RV backlog doubled to $2.11 billion, indicating continued strong demand.
- Gross margins were modestly impacted by the Jayco acquisition.
- Capital expenditures and acquisitions continue to invest in future growth.
Intact Financial Corporation is Canada's largest property and casualty insurer with an estimated 17% market share. The presentation outlines Intact's consistent outperformance compared to industry averages over 10 years in return on equity, combined ratio, and premium growth. Intact attributes its success to significant scale advantages, sophisticated pricing and underwriting, in-house claims expertise, and a proven acquisition strategy. The presentation discusses Intact's financial strength and avenues for future growth through firming market conditions, developing existing platforms, consolidating the Canadian market, and expanding beyond existing markets.
PVA is an E&P company focused on transitioning from natural gas to oil production through development of its Eagle Ford Shale position. It has grown its Eagle Ford acreage and is seeing strong production and reserve growth from its Eagle Ford drilling program. PVA is also taking steps to improve its financial liquidity by selling non-core assets and reducing capital spending and dividends. Its strategy is focused on continued expansion of its Eagle Ford drilling inventory and reserves to grow its oil and liquids production and cash flows.
Intact Financial Corporation is Canada's largest property and casualty insurer, with $6.5 billion in annual premiums. The presentation discusses Intact's strong market position in Canada, consistent outperformance of industry benchmarks, and plans to acquire AXA Canada to further strengthen its business. The acquisition of AXA Canada will increase Intact's premium base by over 40% and accelerate its growth profile through enhanced underwriting capabilities and distribution.
Thor Industries is the world's largest manufacturer of RVs. In Q3 2013, Thor saw a 13% increase in consolidated sales and a 6% increase in net income compared to Q3 2012. RV segment sales increased 15% and income increased 31%, driven by strength in towable and motorized RVs. The company also announced the pending $100M sale of its bus business and acquisition of an RV production facility to expand motorized production capacity. Looking forward, management developed a 3-year strategic plan focused on growth and margin expansion through product innovation, capacity expansion, and improved efficiencies.
Intact Financial Corporation is Canada's largest property and casualty insurer with a market share of approximately 17%. Over the past 10 years, IFC has consistently outperformed the industry in key metrics such as return on equity, premium growth, and combined ratio. IFC attributes its success to scale advantages, sophisticated pricing and underwriting, in-house claims expertise, and strategic capital management. IFC aims to continue growing organically and through acquisitions to capitalize on ongoing consolidation opportunities in the fragmented Canadian P&C insurance market.
Winnebago Industries held a Sidoti NDR conference on February 19-20, 2019 to discuss its leadership, strategic priorities, financial results, and business outlook. The company aims to be the trusted leader in outdoor lifestyle solutions through unmatched innovation, quality, and service. It has diversified its business across motorhomes, towables, and other specialty vehicles. Winnebago is delivering solid financial results and pursuing M&A and other opportunities to fuel continued growth.
The document provides an overview of Winnebago Industries' BMO Conference in December 2018. It includes the company leadership, forward-looking statements, strategic priorities, financial results, capital allocation framework, business development approach, and 3-year long range plan. The executive summary highlights the company's growth in recent years through revenue doubling, market share gains, balanced portfolio diversification, new product introductions, and the acquisition of Chris-Craft boats.
This document summarizes Winnebago Industries' presentation at a Jefferies conference on August 6, 2019. It discusses Winnebago's leadership team, strategic priorities of elevating operations, strengthening core RV business, building a high-performance culture, expanding into new markets through M&A, and leveraging innovation. It provides an overview of Winnebago's brands and financial results, noting growth in revenue, earnings, and margins in recent years. It also summarizes opportunities and trends in the RV and outdoor recreation industries.
Winnebago Industries held a North Star Development Retreat on February 25-26, 2019 to discuss leadership, strategic priorities, financial results, capital allocation, business development opportunities, and motorhome and towable segment developments. The company is delivering solid financial results and pursuing strategic priorities like elevating operations, strengthening its core RV business, building a high-performance culture, and expanding into new profitable markets.
The document provides an overview of Winnebago Industries' leadership team, strategic priorities, and financial results. It discusses the company's diversified portfolio across motorhomes, towables, and other specialty vehicles. It also summarizes the opportunities in outdoor recreation markets and Winnebago's strategies to strengthen its core RV business and expand into new profitable markets through M&A, such as the recent acquisition of Chris-Craft.
February 25, 2020 JP Morgan Leverage Finance ConferenceWinnebagoInd
The document provides an overview of Winnebago Industries' presentation at the J.P. Morgan Global High Yield & Leveraged Finance Conference on February 24, 2020. It summarizes Winnebago's financial results, strategic priorities, and the RV industry outlook. Winnebago is outperforming the declining RV market, with revenue growth of 12.9% in fiscal year 2019 versus the prior year compared to a 7% decline for the overall market. Interest in outdoor activities remains strong and participation is growing.
Winnebago Industries is a manufacturer of motorhomes and towable recreational vehicles. The document provides an overview of Winnebago's leadership team, forward-looking statements, and company information including strategic priorities and financial performance. It also summarizes market trends in the RV and marine industries that demonstrate continued growth in outdoor recreation participation and camping.
Molson Coors held an investor presentation on June 6, 2018 to discuss the company's strategic focus and financial guidance. The presentation highlighted that the MillerCoors transaction nearly doubled the company's size and step changed its EBITDA scale. Molson Coors is committed to delivering growth and shareholder value through a strategy of earning more revenue, using fewer resources efficiently, and investing wisely. Key priorities include strengthening brands, customer excellence, and pursuing cost savings initiatives to expand margins and productivity.
CL King Best Ideas Conference – September, 2018WinnebagoInd
This document provides an overview of Winnebago Industries and its strategies for growth. It discusses Winnebago's portfolio of RV and marine brands, recent financial results, strategic priorities to strengthen its core businesses and expand into new markets. It also summarizes the acquisition of Chris-Craft, noting integration priorities around sourcing, manufacturing best practices and synergy with Winnebago's financial and operational plans. The CEO expresses that Winnebago has grown significantly but sees a long runway ahead with opportunities to continue growing revenue, market share and profits.
This document provides an overview and financial projections for Synacor, a digital media company. It summarizes Synacor's strategy to drive growth across its portal, advertising, email, video, and cloud identity businesses. The company aims to transform its business and achieve $300 million in revenue and $30 million in EBITDA by 2019 through organic growth and winning new customers. It provides financial data and adjustments to reconcile GAAP measures and outlines its strategy across business segments and growth opportunities.
Clorox provided a FY18 Q3 investor presentation covering key sections on who they are, financial performance, and their 2020 strategy. The presentation highlighted that Clorox has leading brands in cleaning, household, and lifestyle categories. It summarized strong financial performance in FY18 year-to-date with sales up 2% and EPS up 21% compared to the prior year. The 2020 strategy focuses on driving superior consumer value through brand investment, innovation, and reducing waste to fuel sustainable growth.
This document provides an overview and summary of Synacor's business strategy and growth opportunities. It outlines Synacor's mission to help customers better engage with consumers. It highlights two primary sources of revenue: search and advertising, and recurring and fee-based services. It summarizes Synacor's portfolio of multi-platform portal experiences, email/collaboration solutions, video platform/cloud ID services, and advertising solutions. It outlines Synacor's growth agenda and path to achieving $300 million in revenue and $30 million in EBITDA within three years through winning new customers and expanding its existing product and service offerings.
Investor deck january 2018 needham finalsynacor2016ir
1. Synacor has seen double-digit revenue growth in recent years and expects continued growth from two main sources - search and advertising revenues as well as recurring software and fee-based revenues.
2. The company has an established tech platform and customer base including operators, content providers, enterprises, and publishers.
3. Synacor provides guidance for continued revenue growth and improved adjusted EBITDA in 2017 driven by its profitable sources of revenue.
This document provides an overview and summary of Synacor's business strategy and growth opportunities. It outlines Synacor's mission to help customers better engage with consumers. It discusses Synacor's two primary sources of revenue: search and advertising, and recurring and fee-based services. These include multi-platform portal experiences, email/collaboration, video platform/cloud ID, and advertising solutions. The document summarizes Synacor's growth agenda and path to achieving $300 million in revenue and $30 million in EBITDA within three years through winning new customers and expanding its existing product and service offerings.
This document provides an overview and summary of Synacor's business strategy and growth opportunities. It outlines Synacor's mission to help customers better engage with consumers. It discusses Synacor's two primary sources of revenue: search and advertising, and recurring and fee-based services. These include multi-platform portal experiences, email/collaboration, video platform/cloud ID, and advertising solutions. The document also summarizes Synacor's growth agenda and financial targets, outlining its path to achieving $300 million in revenue and $30 million in EBITDA within three years.
This document provides an overview and strategic plan for Synacor, Inc. to drive growth in attractive digital markets from 2017-2019. It outlines Synacor's mission to help customers better engage with consumers. The strategy focuses on growing recurring revenue streams from search/advertising and email/collaboration services. Synacor aims to transform its business and achieve $300M in revenue and $30M in EBITDA by 2019 through initiatives like winning new customers, expanding its advertising platform and video/cloud ID solutions, and leveraging partnerships.
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2. LEADERSHIP
Dave Miles
Chairman of the Board
Michael Happe
President and CEO
Brian Hazelton
VP/GM Winnebago
Motorhomes
Ashis Bhattacharya
VP Strategic Planning
and Development
Don Clark
VP, Winnebago Industries,
President, Grand Design RV
Scott Degnan
VP/GM Winnebago
Towables
Bryan Hughes
VP and CFO
Jeff Kubacki
VP and Chief
Information Officer
Chris West
VP Operations
Bret Woodson
VP Human Resources and
Administration
Stacy Bogart
VP General Counsel &
Corporate Secretary
Steve Heese
VP, Winnebago Industries,
President, Chris-Craft
2
3. 3
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 risks relating to our proposed acquisition of Newmar and related companies (“Newmar”), including the possibility
that the closing conditions to the contemplated transaction may not be satisfied or waived, including that a governmental
entity may prohibit, delay or refuse to grant antitrust approval; delay in closing the transaction or the possibility of non-
consummation of the transaction; the failure to consummate the debt or other securities transactions contemplated by the
Newmar acquisition; the occurrence of any event that could give rise to termination of the agreement; risks inherent in the
achievement of expected financial results and cost synergies for the acquisition and the timing thereof; risks that the
pendency, financing, and efforts to consummate the transaction may be disruptive to Winnebago Industries or Newmar or
their respective management teams; the effect of announcing the transaction on Newmar’s ability to retain and hire key
personnel and maintain relationships with customers, suppliers and other third parties; risks related to integration of the
two companies and other factors. Additional information concerning other 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 presentation or to reflect any changes in the Company's expectations after
the date of this presentation or any change in events, conditions or circumstances on which any statement is based,
except as required by law.
Forward Looking Statements
4. OUR NORTH STAR
We help our customers
explore the outdoor lifestyle,
enabling extraordinary
experiences as they travel, live,
work and play.
We will be the trusted leader in
outdoor lifestyle solutions by
providing unmatched
innovation, quality and service
in the industries we engage.
To create lifetime advocates
through a relentless focus on
delivering an unsurpassed
customer experience.
4
5. THE WINNEBAGO DIFFERENCE
5
Outdoor
lifestyle
brands
Diversified – RV,
marine and
specialty vehicle
public company
Premium quality,
service and
innovation
Vision not defined
by one product or
segment
Top talent that
is a blend of RV
and other
industry
experience
Significant
growth
runway
7. WINNEBAGO INDUSTRIES OVERVIEW
Junction City, OR
Lake Mills, IA
Forest City, IA
Charles City, IA
Waverly, IA
Eden Prairie, MN
Middlebury, IN (2) Sarasota, FL
7
REVENUE ($M)
$89.4
9%
$881.4
90%
$4.5
1%
$685.2
44%$853.4
55%
$8.6
1%
$1,127.7
56%
$860.7
43%
$28.4
1%
Motorhomes Towables Other
$2.0B
FY18 REVENUE
$160.4M
OPERATING INCOME
$3.22
FY18 EPS
LEADING
BRAND EQUITIES
4,600+
HIGHLY SKILLED
EMPLOYEES
DIVERSIFIED
LINEUP OF RV + MARINE
PRODUCTS
FY16
FY17
FY18
8. STRATEGIC PRIORITIES
Elevate Excellence
in Operations
Drive Higher Levels of Safety,
Quality, and ProductivityStrengthen and Expand
Core RV Business
Re-energize Motorhome; Invest
in Towable Growth
2
1
Build a High-
Performance Culture
Create Unique Blend of
Leadership, Accountability
and Giving
3
Expand to New,
Profitable Markets
Investigate Diversification –
Inside and Outside of RVs
5
Leverage Innovation
and Digital Engagement
Create Connected Customer
Advocacy
4
8
10. TOTAL RV RETAIL
NORTH AMERICAN UNITS - % GROWTH VS. LAST YEAR
____________________
Sources: Statistical Surveys, Inc. through July 2019
10
Share History:
F16 Y/E: 3.0%
F17 Y/E: 7.1%
F18 Y/E: 8.4%
-12.1%
-9.4%
-6.3%
-1.0%
1.5%
5.9%
Trailing 3 months Trailing 6 months Trailing 12 months
Industry WGO IND
Share: 9.3% 9.4% 9.4%
Share Gain: +1.0 pp +1.0 pp +1.1 pp
Retail (units)
11. CAPITAL ALLOCATION
Execute growth
strategies
Optimize
the capital
structure
Return excess
cash to shareholders
Ensure that liquidity is
adequate
Debt Leverage Ratio (net debt to EBITDA)
2018
3.0
0
1.6
3.0
0
1.4
F19 Q3
3.0
0
1.5
0.9
ON-GOING
(TARGET)
11
Debt Structure
260
165
available
$ - millions
Term Loan B
Matures 2023
ABL
Revolver
3.0
0
2.7
Past
Acquisitions
1.6
12. Leverage Ratio (Net Debt to Adjusted EBITDA)
12
Strong balance sheet provides ample flexibility to pursue
transaction
— Strong liquidity profile with no near-term maturities
— Equity issuance to sellers preserves balance sheet
flexibility
Prioritize de-levering the business immediately following the
acquisition
Strong cash flow generation and proven track record of rapid
debt paydown following acquisitions
Expect leverage ratio to be within targeted range of 0.9x to
1.5x by the end of Fiscal 2020
0
0.5
1
1.5
2
2.5
3
Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19 Q3-19 Q1-20
Target Range Leverage Ratio
2.1x
1.6x
2.7x
(with Newmar)
** Note that Q4-19 is not currently disclosed
Target range of 0.9x to 1.5x
PROVEN TRACK RECORD OF DELEVERAGING
**
14. M&A
____________________
Sources: Recreation Vehicle Industry Association; Outdoor Industry Association; Industry news clips; Winnebago analysis
Adjacency FrameworkTypes of Opportunities
Accretive, profitable growth
14
• EPS/cash accretive year 1
• ROIC => 12% by year 3
• Acceptable IRR/NPV/payback period
15. THE CALL OF THE OUTDOORS IS STRONG
49% of Americans, or 146 million people age 6 and over, reported participating in at least one outdoor activity
in 2017
▪ An increase of 1.7 million participants since 2016
▪ Most popular activities: running, fishing, hiking, bicycling, camping
▪ 46% of people (69.8 million) who did not participate in an outdoor activity have a desire to do so
Sources: KOA 2018 North American Camping Report, Outdoor Recreation
Participation Topline Report 2017, 2018 Outdoor Industry Association
Report, * 2016 National Boating Participation Study
Significant
Outdoor
Activity
Participation
High Interest
in Camping
and Boating
Seeking Health
and Wellness
$887 billion spent on outdoor activities in 2016
Aspirational: Across all age groups, camping ranked as #1 or #2 most popular aspirational outdoor activity
(i.e. activities that most interest non-participants)
73% of respondents* have gone boating; 36% are active boaters
Of those surveyed, key reasons cited for outdoor activities include
▪ spending more time with family and friends
▪ Getting exercise and keeping physically fit
▪ improving overall emotional well-being and health
15
16. CAMPING PARTICIPATION IS ON THE RISE & CHANGING
32,029,000
34,884,000 37,117,000 38,558,000 39,228,000
2014 2015 2016 2017 2018
ANNUAL CAMPER HOUSEHOLDS HAVE GROWN 22% SINCE 2014
62% of U.S. households camp at least occasionally
7.2 million new U.S. households became campers over the last 4 years
(2014-2018)
MILLENNIAL PROFILE
• Comprise 41% of all RVers
• 24% say an RV is the primary type of camping accommodation
• 30%* who don’t own an RV would consider purchasing one
24% of campers use an RV (compared to 22% avg the last 4 years)
23% of new campers in 2018 use an RV as primary accommodation
72% increase in number of campers from 2014-2018 who camp three times or
more each year
____________________
Source: Kampgrounds of America (KOA) 2019 camping report; *2018 KOA camping report
16
41%
40%
38%
34%
31%
36%
35%
34%
28%
27%
18%
18%
21%
28%
31%
5%
7%
8%
11%
11%
2018
2017
2016
2015
Census
Millennials Gen Xers Baby Boomers Mature
Millennials & Gen Xers Campers Continue To Grow and Outpace The General Population
17. RVs AND CLASSES
MOTORHOME PRODUCT OVERVIEW TOWABLE PRODUCT OVERVIEW
Class A
▪ Built on a heavy
truck chassis
▪ Diesel and Gas
models
▪ Ability to tow a
small vehicle
Class C
▪ Built on a
medium truck
chassis
▪ Similar features
and amenities to
Class A models
Class B
▪ Built by adding
taller roof and
amenities to
existing van
▪ Easy to
maneuver
Travel Trailer
▪ Towed by means
of a hitch
attached to the
frame of the
vehicle
Fifth Wheel
▪ Constructed with
a raised forward
section that is
connected to the
vehicle with a
special fifth
wheel hitch
Specialty
▪ Accessibility
Enhanced
▪ Mobile medical
▪ Bloodmobiles
▪ Mammography
▪ Event marketing
17
18. TOTAL RV WHOLESALE MARKET
NORTH AMERICAN SHIPMENTS (UNITS ‘000s)
____________________
Sources: Historical Data: Recreation Vehicle Industry Association; 2019 represents RVIA estimate as of summer RV Roadsigns, published in May 2019
18
255
391 391
166 166
505
484
401
387
1997
2006
2006
2009
2009
2017
2018
2019E
2020E
5% CAGR -25% CAGR 15% CAGR -4%
Conservative: 368.0
-8%
Aggressive: 400.9
flat
Forecast: 387.4
-3%
MH: 0%
TOW: 6%
MH: -39%
TOW: -23%
MH: 22%
TOW: 14%
MH: -8% -22% -11%
TOW: -4% -16% -3%
-17% -3%
19. Wholesale and Retail Industry Shipments
19
As of July, 2019:
Trailing 3 mo vs LY: -16%
Trailing 6 mo vs LY: -18%
Trailing 12 mo vs LY: -20%
RVIA
Calendar 2018 Actual -4%
Calendar 2019 Forecast -17%
Calendar 2002 Forecast -3%
Note: month of July 2019 not adjusted for usual SSI range of error (+~4-5 pp)
Trailing 3 mo vs LY: -12.1%
Trailing 6 mo vs LY: - 9.4%
Trailing 12 mo vs LY: -6.3%
6.0%
3.0%
-7.0%
-2.0%
-6.0%
-1.0%
-3.0%
-7.2%
-8.7%
-3.6%
-6.7%
-14.4%
-14.1%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May June July
RV Retail Units - 2019 % change vs 2018
11%
-12%
-29%
-11%
-20%
-22%
-40%
-15%
-26%
-15% -14%
-10%
-23%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
0
10
20
30
40
50
60
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul
RV Wholesale Unit Shipments
2017 2018 2019 % chg vs LY
20. TOWABLES SEGMENT DEVELOPMENTS
▪ Grand Design RV momentum
▪ Winnebago Towable expansion
▪ New product investments
▪ Dealer and retail share gains
▪ Strong margin performance
TRANSCEND
20
IMAGINEMINNIE SOLITUDESPYDER TOY HAULERMICRO MINNIE 5TH WHEEL
21. TOWABLE SEGMENT OVERVIEW
WINNEBAGO TOWABLES KEY STRATEGIES GRAND DESIGN RV KEY STRATEGIES
$89
$685
$1,128 $1,179
2016 2017 2018 F19 Q3
TTM
49%
35%
8% 8%
Thor Industries Forest River Winnebago
Industries
Other
Towable Segment Market Share Net Revenue ($M)
Source: Statistical Surveys, Inc.; percent as reported for North America for rolling 12 months ended June 2019
21
1.9%
13.1% 13.9% 13.8%
2016 2017 2018 F19 Q3
TTM
Adj EBITDA (% of Revenue)
22. MOTORIZED SEGMENT DEVELOPMENTS
▪ Product line revitalization
▪ Strengthening dealer relationships
▪ Manufacturing transformation
▪ Brand development
▪ Technology innovation
ADVENTURERREVEL VITA/PORTO
22
OUTLOOK
INTENT
23. MOTORHOME OVERVIEW
KEY STRATEGIES
$881 $853 $861
$738
2016 2017 2018 F19 Q3
TTM
38%
22%
16%
7% 6% 5% 6%
Thor
Industries
Forest
River
Winnebago
Industries
Rev Group Tiffin Newmar Other
Market Share Net Revenue ($M)
Source: Statistical Surveys, Inc.; percent as reported for North America for rolling 12 months ended June 2019
23
7.5%
6.6%
4.1% 3.8%
2016 2017 2018 F19 Q3
TTM
Adj EBITDA (% of Revenue)
24. SPECIALTY VEHICLES BUSINESS UNIT
24
Mobile medical Mobile dental
DUI/BAT Bloodmobiles
Mammography Classrooms
Event marketing Bookmobiles
ACCESSIBILITY ENHANCEDCOMMERCIAL SHELLSSPECIALTY
NEW! All-Electric Zero-Emission Option!
33' and 38' Class A commercial platforms
100% Battery Electric Vehicle
Range of 85 to 125 miles
Ideal for fixed-base applications
One of the only RV manufacturers to build
motorhomes specifically tailored for those
individuals with physical challenges.
Wheelchair lifts, roll-in showers,
conveniently located controls, and a host
of other items.
25. CHRIS-CRAFT BOATS DEVELOPMENTS
CAPRI SERIES
Sizes: 21’ 27’
LAUNCH GT
Sizes: 28’ 35’
CALYPSO SERIES
Sizes: 26’ 30’
CATALINA SERIES
Sizes: 26’ 30’ 34’
STERNDRIVEOUTBOARD
CORSAIR SERIES
Sizes: 27’ 30’ 34’
LAUNCH SERIES
Sizes: 23’ 27’ 30’ 34’ 38’
25
▪ Capacity expansion initiated
▪ Introduced Launch GT series
▪ Delivering on acquisition expectations
▪ Managing thru volatile import/export
tariff environment
27. 27
Winnebago Industries to Acquire Newmar
Driving Growth and Long-Term Value for Shareholders
▪ Approximately $344 million cash and stock acquisition
— Implied multiple of 5.2x LTM Adjusted EBITDA, adjusted for the value of the tax assets and including run-rate net synergies
▪ Adds significant RV platform for expansion
— Newmar is the industry’s fastest growing brand of Class A motorhomes
— New entry into Super-C category
▪ Aligns with Winnebago Industries’ strategy
— Enhances position and capabilities in the motorhome market
— Expands Winnebago Industries’ premium product portfolio
▪ Enhances long-term value creation
— Expected to be immediately accretive to free cash flow and fiscal 2020 cash EPS1
(1) Excluding transaction costs, impacts of purchase accounting and before giving effect to anticipated synergies
28. 28
A Compelling Acquisition for Winnebago Industries
▪ Furthers strategy to strengthen and expand our core RV platform and to reenergize our motorized business
▪ Enhances Winnebago Industries’ premium position within North American RV landscape
▪ Complementary product portfolio and expanded access to premium dealer channel
▪ Newmar’s growth platform provides opportunity for future organic RV expansion
▪ Similar long-tenured legacies defined by a commitment to quality, service and innovation
▪ Similar premium focus with dealer and supplier relationships
▪ Talented employees with shared commitment to craftsmanship and unique customization expertise
▪ Collaborative culture will accelerate the sharing of best practices across the businesses
▪ Enhances capabilities and profitability and creates opportunity to drive synergies across the RV portfolio
▪ Delivers improved cash flow generation
▪ Transaction expected to be immediately accretive to fiscal 2020 cash EPS
▪ Manageable pro-forma leverage profile with greater ability to weather cyclical downturn
Strategic
Cultural
Financial
29. 29
Newmar Overview
Business Overview Revenue Breakdown by Product Type (LTM June 2019)
Strong Revenue and Adjusted EBITDA Growth
▪ 50-year history of industry leadership with a full-line of
premium Class A diesel & gas and Super C motorhomes
— 11 model families (4 luxury, 4 diesel and 3 gas)
— Mobility enhanced models
— Recent launch of Super-C Super Star model well received by market
▪ Experienced team of industry leading talent committed to the
QIS (quality, innovation, and service) business model
▪ High-quality network of 57 dealers in North America
— <1/3 overlaps with a Winnebago Industries brand dealer network
— Highly protected Designated Market Areas for dealers
— Commitment to carry Newmar’s full lineup
▪ Unique production model focused on high-margin,
customized features
▪ A leader in customer service through significant investment in
factory customer service, dealer service and emerging mobile
customer service
▪ Headquartered in Nappanee, IN with ~1,060 employees
Revenue ($mm) Adjusted EBITDA ($mm)
$15.8
$55.2
2013 LTM Jun-2019
~23%
CAGR
$251
$661
2013 LTM Jun-2019
~18%
CAGR
51%
33%
17% Diesel
Luxury
Gas
30. 30
Premium Portfolio of Motorhome Products
Bay Star
LUXURY
King Aire
Essex
DIESEL
Dutch Star
Ventana
MOBILITY
Super Star
SUPER C
Canyon Star
GAS
31. 31
Complementary Product Lineup with Winnebago
Newmar’s premium product offering in Class A motorhomes is a natural fit with the Winnebago brand
Bay Star
Sport
Adventurer Bay Star Canyon Star Forza Ventana Le Ventana Horizon New Aire Dutch Star Mountain
Aire
London Aire Essex King Aire
Winnebago Newmar
Indicative
Retail
Pricing
Note: Selected brands shown for Winnebago
~$400,000 – $1 million high-end motorhome segment
65% of Newmar Net Revenues (LTM Jun-2019)
32. 32
Transaction Overview
Consideration
▪ Total consideration of approximately $344(1) million, based on WGO closing stock price on September 13, 2019
— $270 million cash
— 2 million WGO shares issued to the sellers
▪ Adjusted for $30 million in tax assets and run-rate net synergies, the purchase price implies a multiple of 5.2x LTM Adjusted EBITDA
▪ Newmar shareholders will own approximately 6% of WGO shares outstanding
▪ Immediately accretive to motorhome segment margins and cash EPS(2)
▪ Minimum anticipated annual run-rate net cost synergies of $5 million, phased in over three years
— Identified opportunities in purchasing and elimination of redundant processes
— Additional upside potential from sharing of manufacturing best practices
▪ Enhanced cash flow generation
Financial
Impact
▪ Expected net debt to EBITDA ratio of approximately 2.1x following transaction(3)
▪ Prioritize delevering the business immediately following the acquisition
— Expected to de-lever to within stated target of 0.9x to 1.5x net debt to Adjusted EBITDA by the end of fiscal 2020
Leverage
Profile
▪ Newmar will operate as a standalone unit within Winnebago Industries
— Newmar management team will remain in place and continue to operate out of Nappanee, IN
— Newmar CEO, Matt Miller will report directly to Mike Happe
Organizational
Structure
▪ Expected to close in the first quarter of fiscal 2020, subject to regulatory approvals and other customary closing conditionsClosing
(1) Guaranteed value of $330 million on a trailing five-day average as of the closing date. Any stock price based shortfall, as of the date of close, will be made up with incremental cash consideration capped at $20 million
(2) Excluding transaction costs, impacts of purchase accounting and before giving effect to anticipated synergies
(3) Represents unaudited financial estimate; EBITDA inclusive of $5 million of annual run-rate net synergies
34. FY2020 GOALS
10% unit market share of
the North American RV
market at the end of
FY2020; compares to 3%
at the end of FY2016.
10% Operating Income
at the end of FY2020;
compares to 8.1% at
the end of FY2017.
10% of FY2020
revenue will come
from RV segments or
businesses we weren’t
in at the end of
FY2017.
Every employee will
be asked to engage in
an activity related to
one of the following
every year:
▪ Safety
▪ Quality
▪ Productivity
▪ Giving
34
36. OUR JOURNEY THUS FAR….
Growing
• Revenue has surpassed $2B and doubled over past two years
• Market share closing in on 10%.....versus 3% in F16
• Adj EBITDA and Cash flow 3x versus 2016
• Stronger balance sheet to support further growth
Diversifying
• Balanced portfolio in RV segment (Towables now >55% of total versus 5% prior to F17)
• More new products and products represented across all price tiers
• Increase in number of channel partners
• Acquired Chris-Craft…..effective entry into the premium/luxury marine market
• Announced acquisition of Newmar, expanding presence in luxury Motorhome and Super C segments, leading to a complete RV product line-up
A Clear Path Forward
• Company purpose, vision, and mission is clear and understood across the organization
• Strong management team and growing talent pool in the broader organization
• 3 year plan that grows shareholder value by increasing revenue, share and profit
LONG RUNWAY AHEAD AND MUCH WORK TO DO!
36