Malibu Boats released its annual report for 2022, and the builder’s eight brands sold 9,255 units with net sales of $1.215 billion. Average net sales per unit were $131,000, up from $113,000 in 2021; gross profit was $310 million.
Malibu Boats’ brands comprise Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes and Cobalt.
The company said in the report that fiscal 2022 was the ninth straight record year for Malibu Boats since its IPO in 2014. “Led by our operational excellence, vertical integration capabilities and strategic leadership, we were able to achieve record net sales, net income and adjusted EBITDA in fiscal year 2022 while delivering some of the most innovative and feature-rich boats in the market,” the company said.
Key financial metrics that the company reported include:
• Net sales increased 31 percent to $1.215 billion.
• Unit volume increased 13 percent to 9,255 units.
• Net sales per unit increased 16 percent to $131,267.
• Gross profit increased 31 percent to $310 million.
• Adjusted EBITDA increased 30 percent to $247 million.
• Adjusted fully distributed net income per share increased 32 percent to $7.91 per share.
Malibu said that as of July its distribution consisted of more than 400 dealers worldwide. “We devote significant time and resources to find, develop and improve the performance of our dealers and believe our dealer network gives us a distinct competitive advantage,” the builder said in the report.
