ELKHART, Ind., Oct. 14, 2019 /PRNewswire/ -- Thor Industries,
Inc. (NYSE: THO) announced that it is hosting its 2019 Investor Day
today at the Erwin Hymer Museum in Bad Waldsee, Germany, where the Company's management team
will unveil their long-term strategic goals to analysts and
investors.
The event will feature presentations by Bob Martin, Thor President and Chief Executive
Officer; Colleen Zuhl, Thor Senior
Vice President and Chief Financial Officer; and Martin Brandt, Chief Executing Officer of Erwin
Hymer Group (EHG), and provide an in-depth overview of Thor's
global operations, including EHG, while setting out long-term goals
for net sales, gross margin and net cash from operations.
"We are excited to showcase our new international operations,
and to introduce investors to the products and operations of EHG at
our 2019 Investor Day," commented Bob
Martin, Thor President and Chief Executive Officer. "Our
management team is focused on the long-term goals of our business.
We make our strategic and operating decisions based not just on the
next year but the next five years or more. With this perspective,
we are pleased to share our long-term performance goals with the
investor community."
Thor's long-term strategic plan seeks to expand the Company's
international leadership position within the recreational and
outdoor space while achieving measurable performance goals. Thor's
management team outlined three specific strategic goals to be
achieved by the end of fiscal 2025:
- Net Sales: Achieve $14
billion in annual net sales.
- Gross Margin: Attain sustainable gross margins of
16%.
- Cash Flow: Generate over $3
billion in cumulative net cash from operations.
Martin concluded, "These long-term goals reflect management's
key priorities, and our confidence in both our EHG acquisition and
our strategic plan."
Due to limited capacity, attendance was by invitation only, but
a copy of the presentation slides shown at the event has been
posted on the Company's investor relations website. The event will
not be webcast, but a video of the Opening Remarks and a transcript
of the Q&A session will be available for download on the
Company's website by the end of the day on Tuesday, October 15, 2019. To view these
materials after that date, go to ir.thorindustries.com.
About Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined,
represent the world's largest manufacturer of recreational
vehicles. For more information on the Company and its products,
please go to www.thorindustries.com.
Forward Looking Statements
This release includes certain statements that are "forward
looking" statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward looking
statements are made based on management's current expectations and
beliefs regarding future and anticipated developments and their
effects upon Thor, and inherently involve uncertainties and risks.
These forward looking statements are not a guarantee of future
performance. We cannot assure you that actual results will not
differ materially from our expectations. Factors which could cause
materially different results include, among others, raw material
and commodity price fluctuations; raw material, commodity or
chassis supply restrictions; the impact of tariffs on material or
other input costs; the level and magnitude of warranty claims
incurred; legislative, regulatory and tax law and/or policy
developments including their potential impact on our dealers and
their retail customers or on our suppliers; the costs of compliance
with governmental regulation; legal and compliance issues including
those that may arise in conjunction with recently completed
transactions; lower consumer confidence and the level of
discretionary consumer spending; interest rate fluctuations; the
potential impact of interest rate fluctuations on the general
economy and specifically on our dealers and consumers; restrictive
lending practices; management changes; the success of new and
existing products and services; consumer preferences; the ability
to efficiently utilize production facilities; the pace of
acquisitions and the successful closing, integration and financial
impact thereof; the potential loss of existing customers of
acquisitions; our ability to retain key management personnel of
acquired companies; a shortage of necessary personnel for
production; the loss or reduction of sales to key dealers;
disruption of the delivery of units to dealers; increasing costs
for freight and transportation; asset impairment charges; cost
structure changes; competition; the impact of potential losses
under repurchase or financed receivable agreements; the potential
impact of the strength of the U.S. dollar on international demand
for products priced in U.S. dollars; general economic, market and
political conditions; the impact of changing emissions standards in
the various jurisdictions in which our products are sold; and
changes to investment and capital allocation strategies or other
facets of our strategic plan. Additional risks and uncertainties
surrounding the acquisition of EHG include risks regarding the
potential benefits of the acquisition and the anticipated operating
value creation, the integration of the business, the impact of
exchange rate fluctuations and unknown or understated liabilities
related to the acquisition and EHG's business. These and other
risks and uncertainties are discussed more fully in Item 1A of our
Annual Report on Form 10-K for the year ended July 31, 2019.
We disclaim any obligation or undertaking to disseminate any
updates or revisions to any forward looking statements contained in
this release or to reflect any change in our expectations after the
date hereof or any change in events, conditions or circumstances on
which any statement is based, except as required by law, or to
reflect any change in our expectations after the date hereof or any
change in events, conditions or circumstances on which any
statement is based, except as required by law.
Contact
Investor Relations:
Mark Trinske, Vice President of
Investor Relations
mtrinske@thorindustries.com
(574) 970-7912
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SOURCE Thor Industries, Inc.