Cavco Industries, Inc. · NASDAQ:CVCO
Cavco Industries — Investor Presentation (May 2025)
21 slides from Cavco Industries's investor presentation, May 2025
Slide 1: Cavco Industries, Inc. Investor Presentation May 2025
Cavco Industries, Inc. INVESTOR PRESENTATION MAY 2025 investor.cavco.com | Nasdaq: CVCO 1
Slide 2: Forward-looking Statements
Forward-looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements include all statements that are not historical facts. These forward-looking statements reflect Cavco's current exp
Slide 3: Cavco Overview
Cavco Overview Quality, affordable homes that provide shelter and security for families across the country Financial Performance Fiscal year ended March 29, 2025 Industry Leader Financial Services EBITDA as % of net Revenue revenue* (Earnings before Gross Margin Percentage ONE OF THE • Mortgage and
Slide 4: The Affordable Housing Crisis
The Affordable Housing Crisis “…(in) no market in this country can a homebuilder build a house that is affordable for a first- time home buyer.” National Association of Home Builders CEO, Jerry Howard OCTOBER 25, 2024 APRIL 23, 2024 AUGUST 30, 2024 69% of Americans said they Housing experts say ther
Slide 5: Factory-built Industry: Leading the Way in Solving the Affordable Housing Crisis
” Factory-built Industry: Leading the Way Cavco is building affordable houses for many home in Solving the Affordable Housing Crisis buyers. Quality Most affordable Ownership at manufactured form of monthly cost homes at affordable unsubsidized comparable to price points home ownership apartment ren
Slide 6: The Difference
The Difference Corporate Superior Financial Operational Expanding responsibility homes strategy excellence capacity CAVCO INDUSTRIES, INC. | NASDAQ: CVCO 6
Slide 7: Corporate Responsibility
Corporate Responsibility Continuous commitment to a positive impact on people, communities and the environment Our People – ONECavco Our CAVCOmmunity 20% in healthcare enrollment for Homes for our Own provides education employees and their families as a with potential for financial assistance for In
Slide 8: Environmental Impact
Environmental Impact Minimizing our environmental impact throughout the entire manufacturing cycle Our Approach Green Energy Solar panels supply ~50% of Reduce waste + Preserve natural resources electricity in our Glendale, AZ, + Increase use of recycled materials = plant, reducing our carbon Reduct
Slide 9: Manufactured Industry Drivers
Manufactured Industry Drivers Better value Environmental Manufactured Housing Industry than site-built advantages Demand Drivers 38 companies with 152 homebuilding factories 6M Unit Deficit Long-term undersupply has led to an approximate 6-million-unit deficit IN Only 16% of new site-built homes sol
Slide 10: Manufactured Housing Industry Annual Shipments
Manufactured Housing Industry Annual Shipments Consistent growth from Great Recession lows Shipments grew 106% 125,000 since 2009 and 2010 113,000 106,000 103,000 100,000 96,000 97,000 95,000 93,000 94,000 89,000 81,000 82,000 75,000 70,500 64,000 60,000 55,000 50,000 50,000 52,000 50,000 25,000 0 S
Slide 11: Superior Homes in a Strong Industry
Superior Homes in a Strong Industry Providing high quality, cost-conscious and innovative housing Modular Home HUD-Code Built off-site, Home transported, Constructed on assembled and a permanent customized on- chassis to the site, to local federal construction standard standards Park Model Multi-fam
Slide 12: Distribution Channels
Distribution Channels Diverse channels provide a broader network for home sales growth Retail Builder/Developer Communities Company-owned and independent Consistent, robust channel, which Capitalize on channel diversification retailers work directly with end includes hospitality and in a growing mar
Slide 13: Financial Strategy
Financial Strategy Proven ability to deliver organic growth, capacity expansion and shareholder value Strong track record of growth, cost Balance Sheet Management management, strong free cash flow generation and operational excellence $ 356M Zero corporate debt* cash as of Q4’25 Capital Deployment *
Slide 14: Historical Financial Results for the fiscal year ended March 29, 2025
Historical Financial Results for the fiscal year ended March 29, 2025 Gross profit as a percentage of Earnings per diluted Free cash flow* Net Revenue $2,143 ($ millions) $2,015 net revenue strong at share generation (cash flow 23.1 % from operations less $20.71 $157.1M $1,795 $1,627 capital expendi
Slide 15: Operational Excellence
Operational Excellence Finding innovative ways to increase manufacturing output and efficiencies and improve safety Safety Lean Manufacturing High capacity utilization Safety Now program builds a safety- in production plants first culture with Increasing Reducing productivity waste Dynamic Ability 5
Slide 16: Expanding Capacity
Expanding Capacity Operating with high levels of capacity utilization in production plants Added six new manufacturing facilities through the acquisition of Commodore M&A Added four new production lines with Solitaire Homes and retail distribution across three states Increased capacity by over 30% w
Slide 17: CountryPlace Mortgage
CountryPlace Mortgage Experienced MH lender with proven performance through economic cycles Specializing in Manufactured Housing Long History of Disciplined Risk Lending Since 1995 Management & Superior Performance CountryPlace MH loans Licenses in 35 states to originate & outperformed the single- s
Slide 18: Continuing On
Continuing On Continuing to invest in Manufacturing technology productivity improvements Digital marketing innovation across 31 production lines Zoning improvements Further expansion of Focus on environmental opening up new, urban consumer lending issues and opportunities market opportunities operat
Slide 19: The Difference
The Difference Corporate Superior Financial Operational Expanding responsibility homes strategy excellence capacity Growing our positive Providing high Committed to Operating safe and Growing through impact on people, quality, cost- responsible capital highly efficient value-creating communities and
Slide 20: Thank you.
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Slide 21: Appendix: GAAP Reconciliation
Appendix: GAAP Reconciliation ($ in thousands) Reconciliation of fiscal year ended March 29, 2025 Earnings before ITDA % and Free cash flow FY25 FY25 Net income $171,036 Cash from operations $178,496 Income tax expense 40,034 Capital expenditures (21,392) Interest expense 517 Free cash flow $157,104