Malibu Boats (MBUU) Investor Day 2025 summary

Strategic direction and future plans

• New management team introduced a build, innovate, and grow strategy focused on customer-centricity, operational excellence, and deepening dealer relationships.

• Four focus areas: boat building, technology/connectivity, parts/accessories, and marine services, expanding beyond traditional manufacturing.

• Two new business units launched: Marine Components (vertical integration, OEM sales) and MBI Acceptance (strategic financing alliance), enhancing value creation and customer experience.

• Disciplined M&A approach and strong balance sheet enable capital deployment for strategic expansion and innovation, targeting premium brands with synergy and value creation potential.

• White space opportunities identified in all segments, with emphasis on larger models, new product features, and adjacent categories.

Financial guidance and growth targets

• Mid-cycle market recovery (2017–2019 levels) expected to drive revenue to $1.3B, 17.5% EBITDA margin, and $130M free cash flow; outperformance scenarios could reach $1.5B, 20% EBITDA, and $200M free cash flow.

• Capacity utilization expected to increase from ~45% to 75% as the market recovers, supporting outsized growth.

• CapEx to moderate at $30–35M per year near-term, then ~3% of sales longer-term, following major facility expansions.

• Strong liquidity position with $37M in cash and over $300M in available borrowing capacity, supporting organic investment, acquisitions, and shareholder returns.

• Disciplined capital allocation and M&A track record, with over $380M deployed and cumulative EBITDA gains exceeding $500M post-acquisition.

Operational initiatives and innovation

• Vertical integration expanded across sheet metal, engines, wiring harnesses, and more, improving quality, cost control, and speed to market.

• Centralized sourcing, category management, and digital tools implemented to drive margin expansion, supply chain efficiency, and cost reduction.

• Continuous improvement in manufacturing, dual sourcing, and supplier rationalization to enhance margins and operational flexibility.

• Accelerated product innovation: 44 new Malibu/Axis models since 2015, 28 new Cobalt models since 2017, and 28 new saltwater models since respective acquisitions.

• Customer and dealer engagement initiatives, including analytics-driven support and immersive brand experiences, foster loyalty and drive retail execution.