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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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 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.
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.
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
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.
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.
The document discusses Winnebago Industries' acquisition of Chris-Craft, a manufacturer of luxury motorboats. The acquisition aligns with Winnebago's strategy to diversify and enter the marine market. Chris-Craft is an iconic brand with a talented team and manufacturing capabilities. The acquisition is expected to be immediately accretive to earnings and provide opportunities for revenue growth. Winnebago plans to leverage its resources to accelerate Chris-Craft's expansion while maintaining its culture and operations.
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.
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.
Thor Industries is the world's largest manufacturer of RVs, producing a variety of towable and motorized vehicles under multiple brand names. It has a 37-year history of profitability and growth through organic expansion and acquisitions. Thor has a decentralized operating structure and variable cost model that allows it to be resilient during economic downturns. The company benefits from long-term trends of increasing outdoor recreation and camping. With a strong financial position and experienced management team, Thor is well positioned for continued leadership in the growing North American RV industry.
The document summarizes information about Thor Industries, a leading manufacturer of recreational vehicles. Some key points:
- Thor has a decentralized operating structure and owns several RV brands, making it the #2 overall producer of RVs in North America.
- The company has seen record sales and profits in recent years due to strong consumer demand and its diverse product portfolio.
- Thor maintains a strong balance sheet to support growth initiatives like acquisitions and capacity expansion.
- Industry conditions remain competitive but consumer confidence in RVs has improved, driving increases in both wholesale and retail sales.
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.
This document provides an overview of Thor Industries, a leading manufacturer of recreational vehicles. It discusses Thor's business segments, brands, growth strategy, competitive advantages, investments in production capacity, corporate integrity, industry conditions, and consumer trends driving increased RV popularity. Key points include Thor's focus on assembly, strong market share, balanced growth approach, acquisitions to boost capacity, and opportunities in baby boomer and younger demographic groups.
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.
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.
The document is an investor presentation by Tyson Foods from March 2017. It summarizes that in FY16 Tyson Foods achieved record operating income, operating margin, adjusted EPS, operating cash flow, and segment operating margins. The outlook for FY17 projects EPS growth of around 12% over adjusted FY16 EPS, with sales remaining similar and capital expenditures of around $1 billion. Tyson Foods also discusses its strong financial performance in recent years, priorities for cash allocation, strategy for growth centered around protein-packed brands and sustainable food production, and opportunities in its retail packaged brands portfolio.
Thor Industries is the world's largest manufacturer of RVs, with market leading positions in towable RVs and motorized RVs. It has a 37-year history of growth through organic expansion and acquisitions, with 27.9% compounded annual EPS growth over the past 5 years. Thor has a decentralized operating structure that promotes entrepreneurship and focuses on strong relationships with consumers, dealers, and lenders. This sustainable business model has allowed Thor to remain profitable every year since 1980 and weather industry cycles.
Thor Industries provides a forward-looking statement discussing uncertainties and risks in their business, including factors that could cause materially different results from their expectations, such as price fluctuations, supply restrictions, regulatory changes, tax burdens, interest rates, and general economic conditions. They disclaim any obligation to update forward-looking statements except as required by law.
This document provides an overview of RioCan Real Estate Investment Trust's (RioCan) first quarter 2017 results. Some of the key points included:
- RioCan uses several non-GAAP financial measures to evaluate performance in addition to GAAP measures.
- Funds from operations (FFO) increased 31% year-over-year to $143 million in Q1 2017. Same property net operating income grew 1.5% year-over-year.
- RioCan has a conservative balance sheet with a total debt to total assets ratio of 40.5% as of Q1 2017, providing capacity for development and acquisitions.
- RioCan maintained a broadly distributed lease maturity
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.
The document is the transcript from Molson Coors' annual investor meeting. It summarizes that Molson Coors has strategic priorities to drive top-line growth, financial performance including $1.2B in free cash flow, and total shareholder returns. It also discusses the growth plans and priorities for MillerCoors, Molson Coors Canada, Europe and International markets to reignite 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.
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.
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
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.
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.
The document discusses Winnebago Industries' acquisition of Chris-Craft, a manufacturer of luxury motorboats. The acquisition aligns with Winnebago's strategy to diversify and enter the marine market. Chris-Craft is an iconic brand with a talented team and manufacturing capabilities. The acquisition is expected to be immediately accretive to earnings and provide opportunities for revenue growth. Winnebago plans to leverage its resources to accelerate Chris-Craft's expansion while maintaining its culture and operations.
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.
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.
Thor Industries is the world's largest manufacturer of RVs, producing a variety of towable and motorized vehicles under multiple brand names. It has a 37-year history of profitability and growth through organic expansion and acquisitions. Thor has a decentralized operating structure and variable cost model that allows it to be resilient during economic downturns. The company benefits from long-term trends of increasing outdoor recreation and camping. With a strong financial position and experienced management team, Thor is well positioned for continued leadership in the growing North American RV industry.
The document summarizes information about Thor Industries, a leading manufacturer of recreational vehicles. Some key points:
- Thor has a decentralized operating structure and owns several RV brands, making it the #2 overall producer of RVs in North America.
- The company has seen record sales and profits in recent years due to strong consumer demand and its diverse product portfolio.
- Thor maintains a strong balance sheet to support growth initiatives like acquisitions and capacity expansion.
- Industry conditions remain competitive but consumer confidence in RVs has improved, driving increases in both wholesale and retail sales.
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.
This document provides an overview of Thor Industries, a leading manufacturer of recreational vehicles. It discusses Thor's business segments, brands, growth strategy, competitive advantages, investments in production capacity, corporate integrity, industry conditions, and consumer trends driving increased RV popularity. Key points include Thor's focus on assembly, strong market share, balanced growth approach, acquisitions to boost capacity, and opportunities in baby boomer and younger demographic groups.
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.
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.
The document is an investor presentation by Tyson Foods from March 2017. It summarizes that in FY16 Tyson Foods achieved record operating income, operating margin, adjusted EPS, operating cash flow, and segment operating margins. The outlook for FY17 projects EPS growth of around 12% over adjusted FY16 EPS, with sales remaining similar and capital expenditures of around $1 billion. Tyson Foods also discusses its strong financial performance in recent years, priorities for cash allocation, strategy for growth centered around protein-packed brands and sustainable food production, and opportunities in its retail packaged brands portfolio.
Thor Industries is the world's largest manufacturer of RVs, with market leading positions in towable RVs and motorized RVs. It has a 37-year history of growth through organic expansion and acquisitions, with 27.9% compounded annual EPS growth over the past 5 years. Thor has a decentralized operating structure that promotes entrepreneurship and focuses on strong relationships with consumers, dealers, and lenders. This sustainable business model has allowed Thor to remain profitable every year since 1980 and weather industry cycles.
Thor Industries provides a forward-looking statement discussing uncertainties and risks in their business, including factors that could cause materially different results from their expectations, such as price fluctuations, supply restrictions, regulatory changes, tax burdens, interest rates, and general economic conditions. They disclaim any obligation to update forward-looking statements except as required by law.
This document provides an overview of RioCan Real Estate Investment Trust's (RioCan) first quarter 2017 results. Some of the key points included:
- RioCan uses several non-GAAP financial measures to evaluate performance in addition to GAAP measures.
- Funds from operations (FFO) increased 31% year-over-year to $143 million in Q1 2017. Same property net operating income grew 1.5% year-over-year.
- RioCan has a conservative balance sheet with a total debt to total assets ratio of 40.5% as of Q1 2017, providing capacity for development and acquisitions.
- RioCan maintained a broadly distributed lease maturity
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.
The document is the transcript from Molson Coors' annual investor meeting. It summarizes that Molson Coors has strategic priorities to drive top-line growth, financial performance including $1.2B in free cash flow, and total shareholder returns. It also discusses the growth plans and priorities for MillerCoors, Molson Coors Canada, Europe and International markets to reignite 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.
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.
J.P. Morgan Aviation, Transportation & Industrials Conference March 2018
The document provides an overview of Ingersoll Rand's business including:
1) Ingersoll Rand has two segments, Industrial and Climate, with diversified end markets globally.
2) The company has a history of revenue growth, margin expansion, and strong free cash flow generation.
3) Ingersoll Rand is focused on innovation, operational excellence, and a balanced capital allocation strategy to drive continued growth and shareholder returns through 2020 and beyond.
The document is a presentation from Bank of America Merrill Lynch's Global Industrials Conference in March 2018. It provides an overview of Ingersoll Rand, including:
- Ingersoll Rand has two segments, Climate and Industrial, with diversified end markets and a high aftermarket parts and services mix.
- The company has a global presence with leading brands and market positions. It is focused on margin expansion, business investments, and delivering powerful free cash flow.
- Ingersoll Rand's strategy is driving sustained growth, operating margin improvement, and balanced capital deployment to maximize shareholder value.
The document provides an overview of Ingersoll Rand's fourth quarter 2017 results presentation. Some key points:
- Revenue grew 5% year-over-year on a reported basis and 5% organically. Adjusted operating margin expanded 10 basis points. Adjusted EPS grew 9%. Free cash flow was $1.3 billion, over 100% of adjusted net income.
- Both segments saw strong organic bookings growth in the quarter. Industrial bookings grew 12% overall. Climate bookings grew 7%.
- The Industrial segment margin expanded 160 basis points to 13.2% due to volume growth, price increases, and productivity gains offsetting material inflation. Revenue grew 5% organically.
This presentation summarizes Ingersoll Rand's 2018 EPG Conference, including forward-looking statements about projected 2018 performance. It notes key factors like global economic conditions that could impact projections. The presentation highlights Ingersoll Rand's strategy of tying to attractive end markets, franchise brands, sustained innovation, operational excellence, powerful cash flow generation, and shareholder value through capital allocation. It provides examples of business investments, recognition for sustainability and employee engagement, and a track record of revenue and margin growth with strong cash flows.
This investor presentation summarizes an investor presentation from Ingersoll Rand given in May 2018. The key points are:
1) Ingersoll Rand is a global leader in energy efficiency and productivity with two segments - Industrial and Climate - and leading brands in various markets.
2) The company has a robust financial model that delivers powerful cash flow through diversified end markets, market leading positions, focus on margin expansion, and balanced capital deployment.
3) Ingersoll Rand's strategy of sustained growth, operational excellence, and dynamic capital allocation is driving profitable growth and margin improvement towards 2020 targets of 4-4.5% revenue CAGR, 14.5-15% operating margins, and 11-
2018 UBS Global Industrials and Transportation Conference Presentationingersollrand2016
UBS Global Industrials & Transportation Conference presentation discusses Ingersoll Rand's business segments, financial performance, growth targets, and opportunities. It highlights Ingersoll Rand's leading market positions, focus on operational excellence and margin expansion, powerful cash flow generation, and balanced capital allocation strategy, which has delivered consistent growth and shareholder returns. The presentation also emphasizes Ingersoll Rand's commitment to sustainability, innovation, and high employee engagement.
This investor presentation covers Ingersoll Rand's business, financial performance, growth opportunities, and outlook. Some key points:
- Ingersoll Rand is a global leader in energy efficiency and productivity with two segments - Industrial and Climate - that have diversified end markets and recurring revenue streams.
- The company has delivered strong financial performance through revenue growth, margin expansion, and powerful free cash flow generation. Targets include 4-4.5% revenue CAGR through 2020.
- Ongoing business investments in new products, technology, and capabilities support continued growth and profitability opportunities across segments.
- Ingersoll Rand pursues a balanced capital allocation strategy of reinvestment, dividends
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.
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.
- Nielsen reported financial results for the 4th quarter and full year 2016, with revenue of $6.3 billion for the full year, up 4.1% in constant currency.
- Adjusted EBITDA for the full year was $1.9 billion, up 5.2% in constant currency.
- The company acquired Gracenote, a provider of music, video and sports metadata, to bolster its digital content measurement capabilities.
- For 2017, Nielsen expects total revenue growth of 5-6% in constant currency and adjusted EBITDA margin to remain flat.
Brink's 4 q&fy 2017 earnings slides final 02062018investorsbrinks
The document discusses Brink's financial results for the fourth quarter and full year of 2017 as well as its outlook for 2018 and 2019. Some key points:
- Revenue grew 13% in Q4 2017 and 10% for the full year, driven by 5% organic growth.
- Operating profit increased 15% in Q4 and 24% for the full year.
- 2018 guidance forecasts further growth with 8% revenue increase and operating profit rising 30-37%.
- The 2019 adjusted EBITDA target is $625 million, up from the initial 2019 target of $475 million set in 2017.
- Growth will come from organic initiatives in the U.S. and acquisitions, with a focus on
This presentation provides an overview of Sunoco LP's strategic shift from convenience stores to fuel logistics and distribution. Some key points:
- Sunoco divested the majority of its company-operated retail operations to 7-Eleven in exchange for a 15-year, take-or-pay fuel supply agreement.
- The company completed a refinancing that reduced debt by over $2 billion and extended debt maturities.
- Going forward, Sunoco expects to generate stable cash flows from its fuel distribution contracts and rental income properties while maintaining a disciplined financial strategy and balance sheet. It sees opportunities to grow through acquisitions in the fuel logistics and distribution sector.
This presentation provides an overview of Sunoco LP's strategic shift from retail operations to fuel logistics and distribution. Some key points:
- Sunoco divested the majority of its retail operations and supply agreements to 7-Eleven in exchange for a 15-year fuel supply agreement.
- The company refinanced over $2 billion in debt and repurchased units to strengthen its balance sheet.
- Going forward, Sunoco expects to benefit from significant scale in fuel distribution, a portfolio of stable income streams, and opportunities for growth through acquisitions and expanding into adjacent sectors.
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This presentation discusses Winnebago Industries' forward-looking statements and risk factors, non-GAAP financial measures, and products. It provides an overview of Winnebago Industries' leadership, strategic priorities, investment thesis, financial performance, and new product introductions across its motorhome, towable, and specialty vehicle segments.
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2. Investor Presentation | June 2017 2
Forward Looking Statements
Cautionary Statement Regarding Forward-Looking Information
This presentation document may contain 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. A number of factors could cause actual results to differ materially from
these statements, including, but not limited to increases in interest rates, availability of credit, low consumer confidence, availability of labor, significant
increase in repurchase obligations, inadequate liquidity or capital resources, availability and price of fuel, a slowdown in the economy, increased material
and component costs, availability of chassis and other key component parts, sales order cancellations, slower than anticipated sales of new or existing
products, new product introductions by competitors, the effect of global tensions, integration of operations relating to mergers and acquisitions activities,
risks relating to the integration of Grand Design RV, and risks related to compliance with debt covenants and leverage ratios. Additional information
concerning certain risks and uncertainties that could cause our actual results to differ materially from that projected or suggested is contained in Item 1A
Risk Factors in Part I of the Company’s Annual Report on Form 10-K and in the Company's other filings with the Securities and Exchange Commission
(SEC), 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.
3. Investor Presentation | June 2017 3
Presenters / Attendees
Mike Happe – President & Chief Executive Officer
Bryan Hughes – Vice President & Chief Financial Officer
Ashis Bhattacharya – Vice President, Strategic Planning &
Business Development
4. Investor Presentation | June 2017 4
6.4%
8.8%
FY 2016 LTM*
Winnebago Industries Snapshot
Transformation into Broader, More
Diversified and Profitable Company
$975
$1,568
FY 2016 LTM*
Greater Scale (Revenue $MM)
Balanced Revenue Base
91%
9%
56%
44%
Motorized
Towable
LTM*FY 2016
Enhanced Profitability (Adjusted EBITDA Margin)
WORKFORCE
of over 4,000 highly skilled
employees with significant
industry expertise
BROAD AND DIVERSIFIED
lineup of innovative RV products
including motorhomes, travel trailers
and fifth wheel towable trailers
STRONG RELATIONSHIPS
with leading suppliers and service
providers to deliver a differentiated
customer experience
DEALER NETWORK
featuring strong relationships with
the leading motorized and towable
RV dealers across North America
FACILITIES
in Iowa, Indiana and Oregon with executive
office in Minneapolis-St. Paul, provide a
strong operational footprint
*Pro Forma LTM through 5/27/2017; see Appendix for Non-GAAP Reconciliation
LEADING BRAND EQUITY
synonymous with quality and history;
combining the industry’s most iconic
brand with its fastest-growing one
5. Investor Presentation | June 2017 5
• Industry leader with iconic brand, known for quality and innovation since 1958
• Strong and growing North American dealer network
• Improved scale and balanced portfolio across motorized and towable RVs
• Established brand identity with broad awareness
• Well positioned in large, attractive markets: Motorhomes $5.6B, Towable RVs $8.6B1
• Favorable economic and demographic trends driving industry growth
• Transforming Winnebago Industries into a larger company with a broader product offering
• Company-wide focus on driving operational excellence and profitable growth
• New vision focused on building premier outdoor lifestyle company
• Focus on enhancing operating leverage through greater efficiencies and continuous improvement
• Attractive margin profile drives strong free cash flow
• Capital allocation priorities: invest in organic growth; repay debt from recent acquisition; return cash to shareholders through
dividend and share repurchase
Investment Summary
Industry Leader
Compelling Growth
Opportunity
Clear Strategic Plan
Strong Financial Profile
WELL-POSITIONED TO DELIVER LONG-TERM SHAREHOLDER VALUE
(1) Calendar year 2016 RVIA Data
6. Investor Presentation | June 2017 6
Evolving for the Future
Enhanced Leadership and
Organizational Structure
Executive Leadership Team blends
significant RV industry experience with
proven new talent
Establishing best practices and culture
of consistent performance
Expanded Minneapolis-St. Paul office
facilitating improved collaboration and
access to major market
Renewed Strategic Focus
Transforming Winnebago Industries
into a larger company with a
broader product offering
Company-wide focus on driving
operational excellence and
profitable growth
New vision focused on building
premier outdoor lifestyle company
Significant Improvements
to Scale, Diversification,
Profitability and Talent
Successful integration of and continued
strong performance from Grand
Design acquisition
Significant share position in both
Motorized and Towable markets
More disciplined approach to
capital allocation
ENHANCED LEADERSHIP, STRATEGY AND SCALE POSITION WINNEBAGO INDUSTRIES FOR SUCCESS NOW AND IN THE FUTURE
7. Investor Presentation | June 2017 7
Broader, more balanced portfolio
with runway for growth
Combining two brands: the RV
industry’s most iconic brand and its fastest-
growing brand
Committed to investing in Grand Design
portfolio expansion to maintain momentum
Acquisition Progressing Ahead of Expectations
Completion of Grand Design acquisition creates
winning multi-brand platform
Significantly enhanced
financial profile
Strong momentum as Grand Design
continues to outperform
Margin, EPS and cash flow expansion
On pace to exceed total annual run-rate
cost synergies of $7 million, phased
in over three years
Establish critical relationships
between Winnebago and Grand
Design team members
Substantial integration progress focused on:
IT, Finance, HR and Strategic Sourcing
functions
Facilitating information sharing and
establishment of best practices
Grand Design leadership involved in
multiple aspects of Winnebago’s business
BALANCED FINANCIAL CULTURAL
8. Investor Presentation | June 2017 8
To help our customers explore
the outdoor lifestyle, enabling
extraordinary experiences as
they travel, live, work and play.
Our Purpose
To be the trusted leader in outdoor
lifestyle solutions by providing
unmatched innovation, quality and
service in the industries we engage.
Our Vision
9. Investor Presentation | June 2017 9
Popularity of Outdoor Lifestyle
of U.S. households went
camping at least once in 2016
Over a Quarter of U.S. Households Camp
Multiple Times per Year
new U.S. households became
campers over the last 3 years
Source: Kampgrounds of America (KOA) 2016 camping report.
74%
Occasional or
non-campers
26%
Camp 2+
times/year
61%
3.4M
32 million households
10. Investor Presentation | June 2017 10
Driver Growth and RV Penetration
Source: RVIA
Percentage of RV Owners Among U.S. Households
STRONG CONSUMER CONFIDENCE, HISTORICALLY LOW INTEREST RATES AND LOW FUEL PRICES DRIVING INDUSTRY GROWTH
5.0%
5.9% 5.8% 5.8%
6.5%
6.9%
7.9%
8.9%
9.3%
1980 1984 1988 1993 1997 2001 2004 2011 2015
159%
increase in number of consumers
the number of drivers
2x
Population Trends
(U.S. since 1970)
11. Investor Presentation | June 2017 11
13%
87%
Motorized Towable
39%
61%
Motorized Towable
RV Category Growth
13.2 25.2 24.8 28.2 38.4 44.0 47.3 54.8 62.6 66.8
21.9 24.1 24.0 25.8
33.5
39.3
45.0
50.3
2009 2010 2011 2012 2013 2014 2015 2016 2017E 2018E
Wholesale shipments Retail Registrations
152.5 217.1 227.5 257.6 282.8 312.8 326.9 376.0 409.5 420.4
164.1 186.0 205.9 224.5
256.7 280.6
317.6
352.5
2009 2010 2011 2012 2013 2014 2015 2016 2017E 2018E
Wholesale shipments Retail Registrations
Motorized Unit Volumes
(North America, in thousands)
Towable Unit Volumes
(North America, in thousands)
Industry Unit Split
Industry Revenue Split
Note: As of calendar year end
Source: RVIA 2016 Industry Profile; 2017 and 2018 represent RVIA estimates as of 6/5/2017
Towable data includes Travel Trailers, Fifth Wheels, Folding Campers and Truck Campers
14%
CAGR
12%
CAGR
Source: RVIA 2016 Industry Profile
Source: RVIA 2016 Industry Profile
12. Investor Presentation | June 2017 12
Growth Across Broad Range of Demographics
Source: U.S. Bureau of the Census; Kampgrounds of America
Strong Core Boomer Demographic New Demographics Adopting Outdoor Lifestyle
0
20,000,000
40,000,000
60,000,000
80,000,000
2010 2020 2030
Age 65–74 Age 75–85 Age 85+
All Campers
New Campers
34% 28% 28% 10%
44% 28% 17% 11%
By Age
Millennials Gen X Boomer Mature
77% 8% 8% 5%
60% 18% 11% 10%
By Ethnicity
Caucasian/
White
African
American/
Black
Hispanic/
Latino
Asian/
Pacific
Islander
Other
All Campers
New Campers60+ Years Old
nearly half of Winnebago’s
customers
65+ Years Old
U.S. population is expected to grow
69% between 2012 and 2030
STRONG CORE MARKET WITH ATTRACTIVE OPPORTUNITY TO PENETRATE ADDITIONAL DEMOGRAPHICS
13. Investor Presentation | June 2017 13
Favorable Economic Indicators
GOOD CAUTION TROUBLE
Interest Rates
Fuel Availability
Wholesale & Retail Credit
Wages & Employment
Dealer Inventories
Consumer Debt
Fuel Prices
New Private Housing Starts
Consumer Sentiment
Sources: US Department of Commerce, US Treasury, Dun & Bradstreet, Center for Microeconomic Data
14. Investor Presentation | June 2017 14
Clear Strategic Priorities
Elevate Excellence
in Operations
Drive Higher Levels of Safety,
Quality, and ProductivityStrengthen and Expand
Core RV Business
Reenergize Motorized; 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 & Outside of RVs
5
Leverage Innovation
& Digital Engagement
Create Connected Customer
Advocacy
4
15. Investor Presentation | June 2017 15
Strong, Diverse and Focused Team
Enhanced Team Structure
provides defined business
unit focus coupled with
enterprise-level accountability
Driving Lean Business
practices and operational
efficiencies across the
organization
New Executive Office
in Minneapolis-St. Paul Winnebago has greater
access to strategic resources needed to position the
company for future growth
Name Title Experience
EXECUTIVE LEADERSHIP TEAM
Michael Happe CEO 19 years at Toro; track record of success in strategic development, brand and product management
Bryan Hughes VP & CFO Strategic and financial expertise and public company leadership as Ecolab’s SVP & Corporate Controller
Brian Hazelton VP & GM of Motorhomes Customer-centric leader with track record of financial and market results; Former CEO at Schwing Americas
Don Clark President of Grand Design 30+ years RV industry experience at Grand Design, Thor and Keystone RV
Scott Degnan VP & GM of Towables 30+ years RV industry experience at Fleetwood, National RV, Coachmen and Winnebago Motorized
Chris West VP of Operations Career of manufacturing and supply chain leadership and change management expertise at Joy Global and AGCO
Ashis Bhattacharya VP of Strategic Planning and Development Track record of strategic planning success at Honeywell, Moog, Motorola Solutions and Bain & Co.
Jeff Kubacki VP & CIO CIO experience; Extensive digital transformation leadership at Westinghouse, Alliant Techsystems & Ecolab
Bret Woodson VP of Administration Joined Winnebago in 2015; more than two decades at Corbion and Sara Lee
Scott Folkers VP & General Counsel Joined Winnebago in 2010; nearly two decades as in-house General Counsel at John Morrell & Co. and Winnebago
BOARD ENHANCEMENTS
Robert Chiusano Appointed Chairman June 2016 Director since 2008; former COO, Commercial Systems for Rockwell Collins
Richard Moss Appointed Director Feb 2017 CFO, Hanesbrands
John Murabito Appointed Director April 2017 EVP & Chief Human Resources Officer, Cigna Corporation
STRATEGIC ADVISORS
Bill Fenech & Ron Fenech Strategic Advisors Each has 30+ years RV industry experience at Grand Design, Thor and Keystone RV
16. Investor Presentation | June 2017 16
$886 $872
2016 LTM*
Motorized Segment Overview
38%
23%
18%
7% 6% 4% 4%
Thor Forest River Winnebago Rev Group Tiffin Newmar Other
Market Share Revenue
($mm)
Source: Statistical Surveys, Inc.
Percent as reported for North America for rolling 12 months (April 2016 – March 2017)
Grow and leverage
flagship brand equity and
increase understanding
of end customer
Invest in product
innovations to reverse
market share dilution and
increase value across
streamlined portfolio
Implement a dealer
channel strategy focused
on alignment with stronger
partners
Key Strategies
$57
$49
2016 LTM*
Adjusted EBITDA
($mm)
*LTM as of 5/27/17; August fiscal year end *Pro Forma LTM as of 5/27/17; August fiscal year end; see Appendix for
Non-GAAP Reconciliation
17. Investor Presentation | June 2017 17
$89
$696
2016 LTM*
Towable Segment Overview
50%
36%
5%
1%
8%
Thor Industries Forest River Winnebago Gulfstream
Coach
Other
Market Share Revenue
($mm)
Key Strategies
$5
$88
2016 LTM*
Adjusted EBITDA
($mm)
Continue integration of
Grand Design, sharing
best practices and
improving margins
Deliver above-trend growth
in mid-premium categories
across both Winnebago
and Grand Design brands
Expand Towable
production capacity to
meet and enable future
demand
*Pro Forma LTM as of 5/27/17; August fiscal year endSource: Statistical Surveys, Inc.
Percent as reported for North America for rolling 12 months (April 2016 – March 2017)
*Pro Forma LTM as of 5/27/17; August fiscal year end; see Appendix for
Non-GAAP Reconciliation
18. Investor Presentation | June 2017 18
Leading Brand Equity In RV Industry
Recognized by Statistical Surveys, Inc. as top motorhome
brand each year since 1974
Reputation for quality craftsmanship, smart design and
functionality
Best-in-class aftermarket sales and service support
Constant innovation of new products and floorplans
Recent customer awards:
39%
34%
32%
29%
24%
Winnebago
Peer A
Peer B
Peer C
Peer D
Industry-Leading Consideration Among Potential RV Buyers
TWO VIBRANT RV BRANDS
American icon synonymous with
RV industry
Fastest-growing RV manufacturer
Rating among all RV brands
in 2016 Dealer Satisfaction
Index (DSI) for Quality,
Parts, Warranty and Sales
#1 86%
Net promoter score for
Grand Design as compared
to 31% average for all other
towable RV brands
Source: 2016 RVDA Dealer Satisfaction Index
Source: 2017 Company Brand Study
19. Investor Presentation | June 2017 19
Strong Dealer Network
Broad coverage in both
Motorized and Towable
Segments
Strong commitment
to dealers that can carry
most lines
Service partnership
critical to exceeding
customer expectations
STRONG NORTH AMERICAN NETWORK OF NEARLY 300 MOTORIZED AND 300 TOWABLE DEALER LOCATIONS
20. Investor Presentation | June 2017 20
Innovative New Products: Motorized
Winnebago Vista
New floor plans with attractive
entry-level price points
Winnebago Paseo
Innovative new Ford Transit based
product offering with appeal to
active outdoor enthusiasts
CLASS A CLASS B
ACTIVE PROJECTS UNDERWAY TO ADDRESS VALUE CHALLENGES AND UNMET CUSTOMER NEEDS
Winnebago Spirit
New floor plan provides large livability in a
compact and easy to drive package
CLASS C
Winnebago Forza
Diesel offering with high-value entry point
Winnebago Navion
New floor plans, including Murphy bed option
21. Investor Presentation | June 2017 21
Innovative New Products: Towable
Grand Design Solitude
Updated flagship, offering luxury
extended stay
Grand Design Imagine
Towing light without compromise
FIFTH WHEEL TRAVEL TRAILER
Winnie Drop
Retro tear drop with modern amenities
EXPANDING PORTFOLIO TO BROADEN PRODUCT OFFERING
Winnebago Minnie Series
New interior styling with broad array of features
22. Investor Presentation | June 2017 22
Operational Enhancements
Operational Excellence Capacity Expansion
• Four key areas of focus: Safety, Quality, Velocity and
Productivity
• Goals are to improve employee engagement, customer
satisfaction, throughput, profitability and working capital within
existing operations
• Put in place a robust Sales, Inventory and Operations Planning
(SIOP) process to match customer demand
• Implement and deploy Lean Tools to create a continuous
improvement culture (Strategy deployment, 6S Visual
Management, Plan for Every Part (PFEP), Value Stream
analysis and Performance Management)
• Intense focus on strategic sourcing across the enterprise (value
focus – cost, innovation, quality, working capital, risk)
• Leverage operations excellence, work flow analysis, material
flow and other tools to increase throughput across all locations
• Capacity across the business is being analyzed, and
appropriate investments will be made where needed
• West Coast:
Diesel production is being set up on the West Coast in Junction City,
OR at the former Country Coach plant
Plant setup is on plan, and first units are rolling out of the plant
• Iowa:
New line added to Lake Mills for Class B vans; Charles City transitioned
to new Class C assembly
With diesel production moving to the West Coast, more capacity has
opened up in Forest City – capacity constraints that had previously
restricted Class A Motorhome production have been alleviated
Dedicated capacity for Class B and Class C continues to expand
• Indiana:
Capacity expansion plans underway for both Winnebago and Grand
Design towable brands
Production already underway from Grand Design’s new Imagine travel
trailer line
23. Investor Presentation | June 2017 23
55
28
13
25
CY 2007 CY 2008 CY 2009 CY 2010
Equipped To Navigate a Downturn
298
209
153
217
CY 2007 CY 2008 CY 2009 CY 2010
Towable Wholesale Shipments
in thousands
Source: Recreational Vehicle Industry Association
Motorized Wholesale Shipments
in thousands
Key differences
Balanced portfolio of towables and motorhomes
Improved operating leverage
Product line rationalization
Thoughtful vertical integration
Flexible, efficient labor force
Evolving and favorable demographic trends
Expanded entry level product offering
Source: Recreational Vehicle Industry Association
24. Investor Presentation | June 2017 24
Digital Transformation Initiatives
• CIO Jeff Kubacki is leading the process of Digital Transformation across the enterprise
focused on:
Improved and Closer Customer Relationships
Data-Driven Operations Excellence
Business Intelligence
• The intent is to create a more data-driven, fact-based business culture at Winnebago
Industries, with optimized functionality across the system
Business Intelligence tools will help to give Winnebago managers the data they need in the right place and at the right time
to make effective business decisions
• One of the critical areas of focus is completion of ongoing ERP project
25. Investor Presentation | June 2017 25
Free Cash Flow1,2
($mm)
Financial Highlights
$803
$945 $977 $975
$1,568
2013 2014 2015 2016¹ LTM*
$85
$104 $105 $113
$222
2013 2014 2015 2016 LTM*
$46
$63 $60 $62
$138
2013 2014 2015 2016 LTM*
Adjusted EBITDA
($mm)
$6 $13
$29 $28
$99
2013 2014 2015 2016 LTM*
*Pro Forma LTM as of 5/27/17; August fiscal year end
1In 2016 WGO exited the aluminum extrusion and bus manufacturing segment which generated $26mm of revenue in 2015 and $6mm in 2016 *Pro Forma LTM as of 5/27/17; August fiscal year end
*Pro Forma LTM as of 5/27/17; August fiscal year end; see Appendix for Non-GAAP Reconciliation
*Pro Forma LTM as of 5/27/17; August fiscal year end; see Appendix for Non-GAAP Reconciliation
1 Defined as cash from operations less capital expenditures
2 Includes capex of $3.3mm and $7.8mm in FY15 and FY16, respectively, for new ERP system; FY16 includes purchase of Junction City, OR
facility for approximately $10mm
Margin 5.7% 6.7% 6.1% 6.4%
Margin 10.5% 11.0% 10.7% 11.6%
Consolidated Net Revenue
($mm)
Gross Profit
($mm)
14.1%
8.8%
26. Investor Presentation | June 2017 26
Recent 3Q FY2017 Performance
$272
$476
Q3 2016 Q3 2017
Net Revenue
3Q FY 2017 ending May 27, 2017
Q3 revenues were up 75% year over year, reflecting continued success
in the Towables market, including the acquisition of Grand Design
Revenue growth was driven by the addition of $196.9 million in revenue
from Grand Design and strong organic growth from Winnebago-branded
Towable products
Motorized deliveries fell 4.3% year over year while ASP increased 2.6%
due to shifting product mix
$30
$71
Q3 2016 Q3 2017
Margin 14.9%11.1%
Gross Profit
Performance Summary
Growth - 75% Growth - 134%
Gross profit increased 134% year over year and
gross margin improved 380 bps in the quarter
Gross profit increase driven by favorable inclusion of Grand Design
products within overall sales mix
Highest gross margin level in nearly a decade with
further opportunity to expand
27. Investor Presentation | June 2017 27
Strong & Flexible Balance Sheet
• Paid down debt by $43 million in 3Q
Debt-to-equity ratio of 68.9%
Debt/EBITDA ratio of 1.79x, ahead of acquisition plan
Repaid asset-backed loan in 3Q
• Reduced working capital by nearly $67 million YTD
• Expected CapEx of $5-7 million for FY2017
• Approximately $149 million in liquidity
$24 million remaining cash on hand
$125 million capacity on credit facility
28. Investor Presentation | June 2017 28
Capital Allocation Priorities
• Invest in new products, capacity expansion, technology improvements, productivity and innovation
• Maintain disciplined approach to pursuing M&A opportunities
• Prioritize de-levering the business immediately following the acquisition of Grand Design
• Goal is for leverage to be less than 1.5x Debt/EBITDA by FYE 2018
• Committed to delivering consistent and growing dividend payments
Quarterly cash dividends—$0.10/share
• $2.6 million remaining under existing share repurchase authorization
SIGNIFICANT FREE CASH FLOW1 ENABLES DELEVERAGING WHILE SUPPORTING FUTURE GROWTH INITIATIVES
Invest in
the Business
Return Capital to
Shareholders
Pay Down
Debt
1 Defined as cash from operations less capital expenditures, see Appendix for Non-GAAP Reconciliation
29. Investor Presentation | June 2017 29
Investment Summary
INDUSTRY
LEADER
COMPELLING GROWTH
OPPORTUNITY FOR SALES
AND PROFITABILITY
CLEAR STRATEGIC
PLAN
STRONG FINANCIAL
PROFILE
31. Investor Presentation | June 2017 31
Non-GAAP Reconciliation
Invest in
the Business
Pay Down
Debt
The Company has provided non-GAAP financial measures, which are not calculated or presented in accordance with GAAP, as information supplemental and in
addition to the financial measures presented in the accompanying presentation that are calculated and 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 in the presentation. The non-GAAP financial measures in the accompanying presentation may differ from similar measures used by other
companies.
The following table reconciles revenue to pro forma revenue: The following table reconciles net income to adjusted EBITDA:
(1) Represents Grand Design for the period from March 1, 2016 through November 7, 2016 (acquisition date of November 8, 2016)
(2) EBITDA is defined as net income before interest expense, provision for income taxes, and depreciation and amortization expense. Examples of items excluded from Adjusted EBITDA include the postretirement
health care benefit results from terminating the plan and the transaction costs related to our acquisition of Grand Design. We believe EBITDA and Adjusted EBITDA provide meaningful supplemental information
about our operating performance because they exclude amounts that we do not consider part of our core operating results when assessing our performance.
(In thousands) LTM as of 5/27/17
Motorized Revenue
Winnebago Industries, Inc. $ 872,383
Grand Design Pro Forma (1) -
Motorized Revenue 872,383
Towables Revenue
Winnebago Industries, Inc. 483,053
Grand Design Pro Forma (1) 213,061
Towables Revenue 696,114
Consolidated Revenue $ 1,568,497
(In thousands) 2013 2014 2015 2016 LTM as of 5/27/17
Net income $ 31,953 $ 45,053 $ 41,210 $ 45,496 $ 59,553
Interest expense - - 10 - 11,571
Provision for income taxes 13,141 19,624 18,324 20,702 29,797
Depreciation 4,764 3,997 4,513 5,745 6,789
Amortization of intangibles - - - - 22,577
EBITDA 49,858 68,674 64,057 71,943 130,287
Postretirement health (3,567) (4,573) (4,073) (6,124) (26,389)
Legal settlement - - - (3,400) (650)
Transaction costs - - - 355 6,730
Non-operating income (696) (768) (115) (457) (400)
Winnebago Industries, Inc. Adjusted EBITDA (2) 45,595 63,333 59,869 62,317 109,578
Grand Design Pro Forma Adjusted EBITDA (1) (2) - - - - 28,046
Adjusted EBITDA (2) $ 45,595 $ 63,333 $ 59,869 $ 62,317 $ 137,624
32. Investor Presentation | June 2017 32
Non-GAAP Reconciliation (continued)
Invest in
the Business
Pay Down
Debt
The Company has provided non-GAAP financial measures, which are not calculated or presented in accordance with GAAP, as information supplemental and in
addition to the financial measures presented in the accompanying presentation that are calculated and 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 in the presentation. The non-GAAP financial measures in the accompanying presentation may differ from similar measures used by other
companies.
The following table reconciles cash flow from operations to free cash flow:
(1) Represents Grand Design for the period from March 1, 2016 through November 7, 2016 (acquisition date of November 8, 2016)
(2) We believe Free Cash Flow is a meaningful measure because it incorporates the capital expenditures that contribute to generating cash from operations
(In thousands) 2013 2014 2015 2016 LTM as of 5/27/17
Cash from operations $ 10,238 $ 23,236 $ 45,183 $ 52,746 $ 88,355
Capital expenditures (4,422) (10,476) (16,573) (24,551) (14,363)
Winnebago Industries, Inc. Free Cash Flow (2) 5,816 12,760 28,610 28,195 73,992
Grand Design Pro Forma Free Cash Flow (1) (2) - - - - 24,902
Free Cash Flow $ 5,816 $ 12,760 $ 28,610 $ 28,195 $ 98,894