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[LOGO] | | 2006 ANNUAL STOCKHOLDERS’ MEETING |
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MWI Company Overview and
Fiscal Year 2005 Review
Jim Cleary
Mary Pat Thompson
Disclaimer/Forward-Looking Statements
This presentation may contain forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions and those detailed in our Annual Report on Form 10-K, may cause results to differ materially from those anticipated in forward-looking statements. Many of the factors that will determine the Company’s future results are beyond the ability of the Company to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. Potential investors should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. The Company undertakes no obligation to revise or update any forward looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
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MWI Mission Statement
MWI will be the best supplier to the veterinary
profession by delivering superior value,
efficiency and innovation.
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MWI Strategic Objectives
• Be #1 or #2 distributor nationally in sales to the veterinary market
• Set industry standards for value, efficiency and innovation
• Deliver strong financial results and corporate governance
• Be the employer of choice in animal health distribution
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MWI Core Values | | | |
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Customer
Service | Integrity | Dedication | Innovation |
MWI’s culture focuses on our four core values. With a history of nearly 29 years in veterinary distribution, we believe we have developed a strong culture and business model for the future.
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| Our Company |
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[GRAPHIC] | • Leading distributor of animal health products to veterinarians across U.S. • 29 years of operating history • 14,500+ veterinary clinics nationwide • 11,000+ products sourced from 400+ vendors • Strong financial performance |
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* The distribution center in Orlando, Florida is expected to open in MWI’s third quarter of fiscal year 2006.
The MWI Edge: Broad Product Portfolio
• Over 11,000 products stocked in MWI warehouses
• Over 7,000 additional products available by special order
• Continually evaluate product portfolio to improve offerings
• Key products include:
Pharmaceuticals,
Vaccines and
Parasiticides | Diagnostics, Capital
Equipment and
Supplies | Veterinary Pet Food
and Nutritional
Products |
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The MWI Edge:
Premier Sales and Marketing Franchise
Sales Representatives
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• Dual coverage approach with frequent contact
• Act as business consultants
• Continuous training initiatives
• Performance driven compensation
• Significant industry experience
Direct Marketing
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• 375,000 pieces of direct marketing material distributed to 18,000 customers
• Comprehensive and specialty catalogs, loyalty programs, product / vendor programs, flyers, order stuffers
The MWI Edge:
Innovative Technology Systems
Technology systems closely integrated with customers’ day-to-day operations
E-commerce System | Inventory Management System |
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MWI Growth Strategies
| Pursue Strategic
Acquisitions | | Increase Share of
Wallet from
Existing
Customers | |
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Increase Overall
Productivity and
Profitability | | [GRAPHIC] | | Expand Number
of Veterinarians
Served |
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| Offer Innovative,
Differentiated
Solutions to
Veterinarians | | Expand
Agreements with
Existing and New
Vendors | |
MWI Headline News in Fiscal Year 2005
• Record revenues of $497 million
• Plus an additional $103 million of sales of agency products
• Merger and integration of Vetpo Distributors, Inc.
• New Nampa, Idaho distribution center and pharmacy (30,000 sq. ft)
• Record profit sharing for our team members
• Growth of value-added services:
• Pharmacy fulfillment program
• Capital equipment consulting
• Sweep™ inventory management system
• E-commerce platform
• IPO of MWI’s common stock
[GRAPHIC] | | MWI Veterinary Supply is
now MWIV |
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| [LOGO] |
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| NASDAQ MarketSite Tower |
| Times Square, New York |
What’s in store for Fiscal Year 2006…
• Opening a new Denver distribution center (58,000 sq. ft)
• Opening a new Orlando distribution center (30,000 sq. ft)
• Evaluation of additional new distribution center in Midwest
• Expansion of our sales force into new sales territories
• Continued focus on value-added services:
• Pharmacy fulfillment program
• Capital equipment consulting
• Sweep™ inventory management system
• E-commerce platform
• Evaluation of strategic acquisitions
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Financial Overview
Mary Pat Thompson
Strong Growth in Revenues | [LOGO] |
Total Revenues
FY 2001 - 2005 CAGR 22.4%
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Strong Growth in Operating Income
Operating Income
FY 2001 - 2005 CAGR 21.3%
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Stockholders’ Equity
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[LOGO] | your practice • your success • our goal |
