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MARINE PRODUCTS CORPORATION Investor Relations Update October 2025
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Certain statements and information included in this press release constitute “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements that look forward in time or express management’s beliefs, expectations, hopes or strategies. In particular, such statements include, without limitation: that we are cautiously optimistic and that we’ve reached a turning point in the industry as dealer inventory has adjusted to stabilizing demand; our encouragement by the strong interest in our larger boats and initial positive feedback on our 2026 model year offerings; our belief that finance buyers continue to be more restrained; our belief that economic uncertainty continues to impact the marine industry; our encouragement related to the potential for lower interest rates helping the finance buyer as well as improved clarity on potential tariffs not having a significant impact on model year 2026 costs; that our team continues to work relentlessly to better position us in our market, including reducing field inventory, focusing on strategic pricing, and targeting new innovations; our belief that our ongoing focus on disciplined management combined with our strong balance sheet affords us the ability to opportunistically invest in the business; that the Company continues to diversify its product lines through product innovation; our belief in our brands’ solid capital structure, and a strong independent dealer network; and our belief that the Company is prepared to capitalize on opportunities to increase its market share and generate superior financial performance to build long-term shareholder value. Risk factors that could cause such future events not to occur or our strategies not to succeed as expected include the following: negative economic conditions, including increased tariffs, unavailability of credit and possible decreases in the level of consumer confidence impacting discretionary spending; business interruptions due to, e.g., adverse weather conditions, supply chain disruptions and/or further increased interest rates; our retail incentives and allowances may not successfully increase consumer demand as anticipated; due to negative impacts to the overall economy, industry or competition; our adjustments to production levels may not match demand; increased cost of boat ownership makes it more difficult to raise prices in the future to compensate for increased costs; our new model launches may not match dealer and consumer preferences, which are inherently uncertain; and our ability to manage manufacturing costs may be constrained in light of lower production levels and/or higher materials costs due to unexpected or increased tariffs and/or higher inflation. Additional factors that could cause the actual results to differ materially from management’s projections, forecasts, estimates and expectations are contained in Marine Products’ Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2024. Marine Products Corporation has used the non-GAAP financial measures of EBITDA, EBITDA margin, and free cash flow in today's earnings release. These measures should not be considered in isolation or as a substitute for performance or liquidity measures prepared in accordance with GAAP. Management believes that presenting EBITDA and EBITDA margin enables investors to compare our operating performance consistently over various time periods without regard to changes in our capital structure. Management believes that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating Marine Products’ liquidity. Free cash flow should be considered in addition to, rather than as a substitute for, net cash provided by operating activities as a measure of our liquidity. Additionally, Marine Products’ definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, management believes it is important to view free cash flow as a measure that provides supplemental information to our Condensed Consolidated Statements of Cash Flows. A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Set forth in the appendices below are reconciliations of these non-GAAP measures with their most directly comparable GAAP measures. These reconciliations also appear on Marine Products Corporation’s investor website, which can be found on the Internet at www.marineproductscorp.com 2 FORWARD LOOKING STATEMENTS NON-GAAP DISCLOSURE
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Marine Products Corporation has been building high-quality fiberglass powerboats for more than 60 years. • NYSE: MPX • Headquartered in Atlanta • Manufacturing Facility in Nashville, GA • ≈ 600 employees • Market Capitalization: ≈ $300 million • Annualized regular cash dividend: $0.56/share • Paid $0.70 per share special dividend in 2Q:24 • No debt, clean balance sheet CORPORATE PROFILE 3
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One of the largest manufacturers of fiberglass powerboats in the U.S., with leading market positions across its Chaparral and Robalo brands Brands are oriented toward recreational and coastal fishing categories Highly regarded for innovation with products known for performance, features, function and value Conservative financial management and disciplined capital stewardship MPX is a leading manufacturer of recreational powerboats, with leading market shares across key brands, poised to continue to grow and expand its franchise KEY STATS 42Boat Models ≈300 Global Dealer Network ≈19%2024 Gross Margin ≈9%2024 EBITDA Margin 2024 SALES BY BRAND Chaparral ≈54% Robalo ≈46% FINANCIAL SNAPSHOT ($ IN MILLIONS) 0 100 200 300 400 500 2020 2021 2022 2023 2024 SALES 0 10 20 30 40 50 60 2020 2021 2022 2023 2024 EBITDA MPX AT-A-GLANCE 4
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Powerful Brand Heritage and Market Leadership • ≈ 60-year heritage fostering brand awareness for manufacturing high-quality powerboats • In their size range and competitive market, Chaparral and Robalo hold leading share positions 1 Recognized Industry Innovator • Strong competence to leverage existing designs and innovate across the platform2 Broad Dealer Network • Nearly 300 dealers globally, including many of the largest and most reputable dealers in top boating regions • Developed long-term partnerships over decades of providing sales and service, inventory management, financial and operational support 3 Efficient Operations • Vertical integration (e.g., upholstery, cabinetry, canvas in-house) enables highly controllable cost structure with the ability to enhance quality • Constant adjustment of model mix and production scheduling to maximize throughput and optimize profitability 4 Attractive Financial Profile • Demonstrated ability to generate double digit return on invested capital over the long term • Fortress balance sheet with no leverage mitigates impact of financial downturns, ample liquidity for growth investments risk 5 INVESTMENT HIGHLIGHTS 5
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17.1% 18.9% 38.8% 28.6% 39.8% 32.2% 0.4% 38.7% 36.5% 18.3% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10-year average return on invested capital ≈27% Strong ROIC has led to significant cash flow generation Proven track record of long-term shareholder returns Since 2015 (10 years), MPX has returned approximately $240+ million to shareholders Paid dividends in all but two years of history as public company INVESTOR-ORIENTED CAPITAL PHILOSOPHY RETURN ON INVESTED CAPITAL (1) _____________________ (1) Defined as net cash provided by oper ations / average total invested capital. $ in millions CAPITAL STEWARDSHIP TAILORED TOWARD SHAREHOLDERS 6
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MPX has evolved with the market into faster growing, premium outboard categories MPX has evolved by utilizing its design and manufacturing expertise and dealer network to capture attractive market opportunities Premium SSi sport boat line introduced Chaparral founded in Ft. Lauderdale, FL Robalo founded Chaparral Surf Series introducedChaparral moved to Nashville, Georgia, obtaining additional manufacturing space and access to a trained workforce Sunesta deck boat introduced SSX luxury sport boat introduced H2O sport boat introduced SunCoast outboard sport decks introduced Chaparral introduced the OSX luxury outboard sportboat 2010 SALES BY PROPULSION Outboard ~5% Sterndrive ~95% 1965 1969 20001993 2018201520121976 2007 2019 2024 SALES BY PROPULSION Outboard ~65% Sterndrive ~35% 2001 MPX acquires Robalo 1986 MPX acquires Chaparral DEMONSTRATED ABILITY TO EVOLVE WITH CONSUMER PREFERENCES MPX’s EVOLUTION 7
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10+ Years Average Dealer Relationship Significant Presence No Presence HIGHLIGHTS Europe Asia Australia Africa Premier dealer network with 202 domestic and 88 international, independent dealers Expanded Dealer network from ≈200 in 2010 to ≈300 today. MPX’s largest dealers are exclusive, allowing them to focus on selling MPX’s products Canada (Chaparral) Nashville, GA (Marine Products) Atlanta, GA (Robalo) Nashville, GA MPX’s DEALER FOOTPRINT 8
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EXTENDED V-PLANE HULL Running surface spans the length of the entire boat in contrast to standard sterndrive boats Allows for more deck space, better planing performance and a more comfortable ride Creates superior stability under low speeds Utilized on the Company’s Chaparral and Robalo boating lines HYDRO LIFT HULL INFINITY POWER STEP MPX has a track record of being a leading innovator in the recreational boating industry. Variable dead rise hull design allows for a smooth ride in rough water conditions Increases the maximum speed obtainable by a given horsepower and weight of a boat Enhances fuel efficiency Smooth design supplements cornering agility Located on the boat’s stern, Power Step lowers into the water at the touch of a button Utilized by passengers to easily board or exit the boat Ideal for all age groups and pets Creates one of the most accessible boats in the industry INNOVATIVE SEATING Chaparral’s Vista View lounge that can change position from sitting upright to full-length lounging at the touch of a button Chaparral’s Oasis Lounge features an adjustable back rest and the ability to face forward or the rear Ability to fold flat to create a sun pad COMMITMENT TO INNOVATION AND SERVICE 70+ Awards for Product Excellence and Customer Service INNOVATIVE TECHNOLOGY LEADER 9
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CUSTOMER ENGAGEMENT ACROSS SOCIAL MEDIA PLATFORMS 282K+ Followers 44K+ Followers MPX’s brands are recognized as some of the best on the water! HIGHLY REGARDED & LONG-TENURED BRANDS “The Robalo R230 is designed to satisfy all of your fishing and performance needs. Outfitted with our Hydro Lift multi-angle hull design, horizontal tubed rod storage, SeaStar tilt hydraulic steering, and a 25-gallon live well. The R230 is perfect for those with the desire for endless possibilities.” - Capt. Trip Smith BoatTEST.com (November 2023) “The Chaparral 310 OSX will meet many of your family’s boating needs with a length overall of approximately 31 feet, and the deep bow offers one of the biggest and most elegant rides that Chaparral has to offer. The Chaparral 310 OSX represents a blend of luxury, innovation, and performance, designed to meet the high standards and expectations of day boaters looking for an exceptional maritime experience.” - Product Tour (February 2024) 10
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20 Models 20–32 ft. Length Range $49k–$487k Price Range 22 Models 16–36 ft. Length Range $36k–$688k Price Range SSI GTS/Surf OSX Dual Console Center Console Bay Boat STERNDRIVE AND OUTBOARD PLEASURE BOATS OUTBOARD SPORT FISHING BOATS BROAD LINE-UP OF FIBERGLASS BOATS 2025 MODEL YEAR 11
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MPX operates out of five state-of-the-art manufacturing facilities FACILITY SNAPSHOTS MPX’s facilities include 5 manufacturing plants in Nashville, Georgia Facilities are utilized to design new models, fabricate hulls, decks and small fiberglass parts, manufacture interiors and assemble and test end products before shipping to dealers≈1.2M Total Square Feet Engineering / R&D Manufacturing Assembly and Final Testing Warehouse ≈600 Total Employees 1 2 3 4 Warehouse Plant 5 R&D Corporate Office Plant 4 Small Parts Plant 2 Interiors Plant 1 Boats <25ft Truck Shop & Loading Plant 3 Boats >25ft 1 2 2 2 3 4 KEY METRICS KEY FUNCTIONS FACILITIES OVERVIEW 12
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Third Quarter 2025 Results • Net sales increased 7% year-over-year to $53.1 million • Net income was $2.7 million, down 22% ye ar-over-year, and diluted Earnings Per Share (EPS) was $0.07; Net income margin decreased 180 basis points to 5.0%. The decline was due to higher R&D investments related to new products and cost true- ups • Earnings Before Interest, Taxes, Depreciation and Amortizati on (EBITDA) was $3.7 million, down 15% year-over-year; EBITDA margin decreased 170 basis points to 6.9% • The Company generated strong operating and free cashflow ending the quarter with approximately $47.4 million in cash and no debt • The Company recently launched the 2026 mo del year Chaparral and Robalo products Management Commentary “Third quarter results reflect an increase in sales from the prior year period," stated Ben M. Palmer, Marine Products' President and Chief Executive Officer. “We are cautiously optimistic that we’ve reached a turning point in the industry as dealer inventory has adjusted to stabilizing demand. We are encouraged by the strong interest in our larger boats and initial positive feedback on our 2026 model year offerings; however, finance buyers continue to be more restrained.” “Economic uncertainty continues to impact the marine industry, but we are encouraged by the potential for lower interest rates helping the finance buyer, as well as improved clarity on potential tariffs not having a significant impact on model year 2026 costs.” “Our team continues to work relentlessly to better position ourselves in this market, including reducing field inventory, focusing on strategic pricing, and targeting new innovations. Our ongoing focus on disciplined management combined with our strong balance sheet affords us the ability to opportunistically invest in the business,” concluded Palmer. 3rd QUARTER 2025 FINANCIAL SUMMARY 13
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3rd QUARTER 2025 FINANCIAL SUMMARY (cont.) 14
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APPENDIX – NON-GAAP RECONCILIATION Marine Products Corporation has used the non-GAAP financial measures of EBITDA, EBITDA margin, and free cash flow in today's earnings release. These measures should not be considered in isolation or as a substitute for performance or liquidity measures prepared in accordance with GAAP . Management believes that presenting EBITDA and EBITDA margin enables investors to compare our operating performance consistently over various time periods without regard to changes in our capital structure. Management believes that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating Marine Products’ liquidity. Free cash flow should be considered in addition to, rather than as a substitute for, net cash provided by operating activities as a measure of our liquidity. Additionally, Marine Products’ definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, management believes it is important to view free cash flow as a measure that provides supplemental information to our Condensed Consolidated Statements of Cash Flows. A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Set forth in the appendices below are reconciliations of these non-GAAP measures with their most directly comparable GAAP measures. These reconciliations also appear on Marine Products Corporation’s investor website, which can be found on the Internet at www.marineproductscorp.com 15
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APPENDIX – NON-GAAP RECONCILIATION 16
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Marine Products Corporation 2801 Buford Highway NE, Suite 300 Atlanta, GA 30329 404-321-7910 MarineProductsCorp.com 17