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M ONACO C OACH C ORPORATION. NYSE: MNC. Second Quarter 2003. Safe Harbor Statement.

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slide1
MONACO COACH

CORPORATION

NYSE: MNC

Second Quarter 2003

safe harbor statement
Safe Harbor Statement
  • This presentation may contain certain forward-looking statements that are subject to risks and uncertainties that may cause actual results to vary from those projected. Such risks and uncertainties include, but are not limited to, those listed in the Company’s form 10-K and form 10-Q. These documents can be accessed at www.monaco-online.com or www.sec.gov.
company overview
Company Overview
  • Leading Manufacturer of Recreational Vehicles
    • Number One Diesel Manufacturer
  • Six Premium Brands
    • Monaco, Holiday Rambler, Beaver, Safari, McKenzie and Royale Coach
  • Manufacturing in Indiana and Oregon
  • 2002 Sales Data
    • 11,211 Units
    • $1.22B Revenue
company milestones
Company Milestones
  • 1987: Current Management in Place
  • 1993: Initial Public Offering
  • 1996: Holiday Rambler Acquisition
  • 1997: Secondary Offering
  • 1998: April 3 for 2 Stock Split
  • 1998: November 3 for 2 Stock Split
  • 1999: July 3 for 2 Stock Split
  • 2001: SMC Corporation Acquisition
  • 2001: September 3 for 2 Stock Split
class a motorhome market
Class A Motorhome Market

Retail Sales July 2003 YTD

Approx. Market Size = $4.5 billion

diesel motorhome market
Diesel Motorhome Market

Retail Sales July 2003 YTD

gasoline motorhome market
Gasoline Motorhome Market

Retail Sales July 2003 YTD

class c motorhome market
Class C Motorhome Market

Retail Sales June 2003 YTD

Approx. Market Size = $745 million

towable market
Towable Market

Retail Sales June 2003 YTD

Approx. Market Size = $3.3 billion

customer profile
Customer Profile
  • Lifestyle Decision, Planned Purchase
    • Very High Level of Commitment
    • Very Brand Loyal
      • 24,500 Club Member Families
    • Rallies, Caravans, Events
  • Mostly Retired or Semi-Retired
    • Average Consumer Will Own 3-5 RVs
    • Average Consumer Trades Every 3-5 Years
  • Consumer Base Undergoing Positive Changes
  • Industry-wide Media Campaign Fuels RV Awareness
target market growth
Target Market Growth

U.S. Population Growth 2000-2010

Source: U.S. Census Bureau

retail dealer profile
Retail Dealer Profile
  • Independent Retail Dealers
    • North America
  • Shared with Competitors
    • Importance of “Shelf-Space”
  • Not All MNC Dealers Carry All MNC Products
    • Dealers Specialize
    • Few “Full-Line” Dealers
    • Multi-brand Approach Increases Market Penetration
  • Dealers Finance Inventory
retail distribution growth
Retail Distribution Growth

Retail Dealership Locations

product driven industry
Product Driven Industry
  • Responsive to Customer & Dealer Feedback
    • Creates Enthusiasm & Drives Repeat Purchases
  • Company-Wide Focus and Discipline
    • Senior Management Attention
  • Roadmaster Chassis
    • Greater design flexibility; enhanced performance
  • Alumaframe Construction
    • Lighter weight; greater durability
  • Floorplan Design
expanded product offerings
Expanded Product Offerings

DIESEL CLASS A MOTORCOACHES:

Retail Price PointMonacoHoliday RamblerBeaver/Safari

$600,000 – 1.1M Royale Coach

$445,000 – 535,000 Signature SeriesMarquis

$335,000 – 420,000 ExecutiveNavigatorPanther

$295,000 – 360,000 DynastyPatriot

$255,000 – 295,000 ImperialContessa

$215,000 – 270,000 WindsorZanzibar

$210,000 – 240,000 CamelotScepterMonterey

$155,000 – 210,000 DiplomatEndeavor - DieselSantiam/Sahara

$135,000 – 170,000 KnightAmbassadorBaron/Cheetah

$115,000 - 130,000 CaymanNeptune

expanded product offerings17
Expanded Product Offerings

GASOLINE CLASS A and CLASS C MOTORCOACHES:

Retail Price PointMonaco/McKenzieSafari/Holiday Rambler

$95,000 – 120,000 LaPalmaVacationer

$85,000 – 110,000 Trek/Traveler

$75,000 – 105,000 MonarchAdmiral

$65,000 – 75,000 RogueAtlantis

TOWABLES:

Retail Price PointMcKenzieHoliday Rambler

$40,000 – 65,000 Medallion Fifth Wheel

$40,000 – 55,000 Presidential Fifth Wheel

$40,000 – 45,000 Presidential Travel Trailer

$30,000 – 50,000 Lakota Fifth WheelAlumascape Fifth Wheel

$30,000 – 40,000 Dune Chaser Toy HaulerNextLevel Toy Hauler

$25,000 – 35,000 Lakota Travel TrailerAlumascape Travel Trailer

production capacity
Production Capacity

Units/Week

Motorized199619971998CurrentUtilization

Indiana 57 80 115 125 85

Oregon 12 12 15 140 59

TOTAL 69 92 130 265 144

Towable199619971998CurrentUtilization

Indiana* 55 85 70 130 55

Oregon 0 10 25 0 0

TOTAL 55 95 95 130 55

Current Utilization (units) = Approx. 50%

100% Utilization = Approx. $1.6 - $1.7B Revenue

*Towable Plant Capacity Expanded July 2003

revenue growth
Revenue Growth

$ in millions

FY03E = $1.1B

key ratios
Key Ratios

As a % of Revenue

Gross Margin

SG&A

Operating Margin

Q203

Gross Margin = 10.2%

SG&A = 9.6%

Operating Margin = .6%

Q303E

Gross Margin = 10.5%-11%

SG&A = 8.75-9.25%

Operating Margin = 1.25%-2.25

earnings per share
Earnings Per Share

Q303E = $.8

FY03E = $.36

current outlook
Current Outlook
  • Retail Sales Beginning to Improve
    • Total Class A Market Up 8.5% July ‘03 vs. July ‘02
      • Up 7.9% YTD
  • Reduced Overall Production Levels
    • More Closely Align Production with Demand
    • Work Down Finished Goods Inventory
  • Balance Sheet
    • Current Debt Approximately $85M
      • $103M at Year-end 2002
    • Estimate $60 by Year-end 2003
    • Estimate $33M Cash from Operations in 2003
      • Estimate $20M Cap Ex in 2003
  • Excellent Industry Fundamentals
    • Demographics, Leisure Travel Preferences
slide23
MONACO COACH CORPORATION

www.monaco-online.com

(800) 634-0855

NYSE:MNC

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