Slide 1: 1Q 2025 Earnings Conference Call
1Q 2025 Earnings Conference Call May 7, 2025 © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.
Slide 2: Notes on Forward-Looking Statements
NOTES ON FORWARD-LOOKING STATEMENTS 2 Comments in this presentation other than statements of historical fact may constitute forward-looking statements. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “project,” “intend,” “could,” “should” or other sim
Slide 3: Revenue Mix By End Market
3 Revenue Mix By End Market INDUSTRIAL + 3% QoQ - 1% YoY AUTOM OTIVE - 2% QoQ - 11% YoY 5% 5% 5% 11% 11% 11% ▸ Led by Europe which was better than ▸ Lower ASP reflecting 2025 OEM forecasted, resulting in positive B2B contracts 14% 14% 13% ▸ Continued strong demand for smart grid ▸ Tier1 suppliers in
Slide 4: Revenue Mix By Sales Channel
4 Revenue Mix By Sales Channel 7% 7% 7% D I S T R I B U T I O N + 3% QoQ + 2% YoY OEM - 2% QoQ - 11% YoY ▸ Worldwide POS grew 4% QoQ, reflecting ▸ Revenue QoQ impacted by ASP 4% increase in the Americas, 10% in reduction as 2025 contracts went into 39% 40% 42% Europe and flat Asia effect ▸ Americas:
Slide 5: Revenue Mix By Region
5 Revenue Mix By Region EUROPE + 8% QoQ - 6% YoY ASIA - 3% QoQ 0% YoY 24% 26% 26% ▸ Overcorrection of inventory in industrial ▸ Seasonally soft quarter due to Chinese end markets New Year 40% 41% 38% 36% 33% 36% AM ERICAS - 6% QoQ - 8% YoY ▸ Soft industrial sales 1Q25 4Q24 1Q24 EUROPE ASIA AMERICAS
Slide 6: 1Q 2025 Highlights
66 1Q 2025 Highlights TOTAL REVENUES ($M) 1Q 2025 REVENUES 1Q 2025 BOOK-TO-BILL 950 $715.2 M 1.08 900 850 FOR 1.12 SEMICONDUCTORS GROSS MARGIN 800 746.3 19.0% 1.04 FOR PASSIVE COMPONENTS 750 715.2 714.7 including negative impact of 700 approximately 200 bps related to Newport 650 600 550 $(0.03) EPS
Slide 7: Income Statement Highlights
1Q 2025 77 Income Statement Highlights Operating EBITDA Effective Gross Margin SG&A EPS Margin Margin Tax Rate Expenses 19.0% Including ~200 basis $134.7 M 0.1% 7.6% 3.2% $(0.03) impact of Newport Adjusted Adjusted Normalized Operating Adjusted EBITDA Effective Margin EPS Margin Tax Rate 0.1% 7.6% 3
Slide 8: Segment Results ($M)
88 Segment Results ($M) MOSFETs DIODES OPTO REVENUES GROSS BOOK TO REVENUES GROSS BOOK TO REVENUES GROSS BOOK TO MARGIN BILL MARGIN BILL MARGIN BILL 1Q 2025 $142.1 8.2% 1.32 1Q 2025 $141.0 19.9% 0.99 1Q 2025 $51.2 20.9% 0.90 4Q 2024 $146.6 15.6% 0.98 4Q 2024 $141.4 20.2% 1.00 4Q 2024 $46.9 11.7% 1.0
Slide 9: Cash Conversion Cycle
9 Cash Conversion Cycle DSO DIO DPO CASH CONVERSION CYCLE 60 40 110 109 129 128 110 130 124 53 53 104 34 34 51 100 31 120 50 30 110 90 100 40 80 20 90 70 80 30 60 10 70 50 60 20 40 0 50 1Q25 4Q24 1Q24 1Q25 4Q24 1Q24 1Q25 4Q24 1Q24 1Q25 4Q24 1Q24
Slide 10: Cash Flow Generation
Cash Flow Generation 10 10 CASH FLOW FROM OPERATIONS ($/M) CAPEX ($/M) 100 400 160 144.9 400 80.2 328.6 336.9 80 67.7 316.0 140 300 120 300 60 50.6 100 40 200 80 62.6 200 16.1 61.6 20 59.5 53.1 109.6 60 0 100 40 100 -20 20 -40 (24.7) 0 0 0 1Q 4Q 3Q 2Q 1Q TTM TTM 1Q 4Q 3Q 2Q 1Q TTM TTM 2025 2024 2025
Slide 11: U.S. Tariff Summary
11 U.S. Tariff Summary (As of April 9, 2025) Semiconductors ▸ Products manufactured in China and sold in the U.S. – 70% tariff Estimated Impact ▸ Products manufactured in all other countries and sold in the U.S. – generally not subject to tariff 2Q 2025, assumed in guidance: Passive Components ▸ Rev
Slide 12: Guidance 2Q 2025
12 Guidance 2Q 2025 REVENUE GROSS MARGIN SG&A 2Q 2025 FY 2025 $760 M 19.0% Newport Impact $136 M +/- $20 M +/- 50 bps Negative $530 - +/- $2 M 175-200 bps 560 M NORMALIZED CAPEX 2025 E F F E C T I V E TA X R AT E ~30-32% $300-350 M
Slide 13: Strategic Growth Levers
13 13 Strategic Growth Levers SERVED MARKETS Internal Capacity Enhanced Expansion Channel Management External Capacity Expansion Broaden Innovation our Portfolio Optimizing Global Vishay Solutions Manufacturing Footprint Increased M&A Technical Headcount
Slide 14: Financial Goals 2028
14 Financial Goals 2028 T O TA L R E V E N U E GROSS MARGIN O P E R AT I N G M A R G I N 2023 2023 2023 $3.4B CAGR 28.6% 14.3% 9-11% 31–33% 19–21% ADJ. EBITDA MARGIN ROIC C A P I TA L I N T E N S I T Y 2023 2023 2023 19.5% 11.2% 9.7% 25–27% ≥14% 6–7%
Slide 15: Appendix
Appendix 1Q 2025 Earnings Conference Call
Slide 16: Product Type 2024: Certified, Commodity, Custom
16 Product Type 2024 CERTIFIED PRODUCTS 100% Hundreds 17% 24% small number of competitors with similar 31% 80% products (qualifications such as automotive, military, UL) 27% 15% 39% 60% COMMODITY PRODUCTS 40% completely interchangeable with competitors’ products 49% 54% 20% 44% CUSTOM PRODUCTS 0% Vi
Slide 17: Trusted by…
17 17 Trusted by… OEM EMS DISTRIBUTION
Slide 18: Broadest Line of Discrete Semiconductors and Passive Components
18 18 Broadest Line of Discrete Semiconductors and Passive Components DISCRETE SEMICONDUCTORS PASSIVE COMPONENTS LOWEST VOLTAGE DIODE HIGHEST ENERGY CAPACITOR In power applications, we can populate ~80% of our customers’ Bill of Material © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.
Slide 19: P&L
P&L 19 19 IN MILLIONS (Except Per Share Amounts) 1Q 2025 4Q 2024 1Q 2024 Net Revenues $715.2 $714.7 $746.3 Cost of Products Sold 579.7 572.6 575.9 Gross Profit 135.6 142.1 170.4 Gross Margin 19.0% 19.9% 22.8% SG&A 134.7 132.3 127.7 Impairment of goodwill - 66.5 - Operating Income (Loss) 0.8 (56.7) 4
Slide 20: Reconciliation of Adjusted Net Earnings
20 20 Reconciliation of Adjusted Net Earnings IN MILLIONS (Except Per Share Amounts) 1Q 2025 4Q 2024 1Q 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders ($4.1) ($66.3) $30.9 Reconciling items affecting operating income: Impairment of goodwill - 66.5 - Adjusted net earnings (loss) ($
Slide 21: Reconciliation of Free Cash
21 21 Reconciliation of Free Cash IN MILLIONS 1Q 2025 4Q 2024 1Q 2024 Net Cash Provided by Operating Activities $16.1 $67.7 $80.2 Proceeds From Sale of Property and Equipment 0.3 1.6 0.8 Less: Capital Expenditures (61.6) (144.9) (53.1) Free Cash ($45.2) ($75.6) ($27.9) © VISHAY INTERTECHNOLOGY, INC.
Slide 22: Reconciliation of EBITDA
Reconciliation of EBITDA 22 22 IN MILLIONS 1Q 2025 4Q 2024 1Q 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders ($4.1) ($66.3) $30.9 Net Earnings Attributable to Noncontrolling Interests - 0.2 0.5 Net Earnings (Loss) ($4.1) ($66.1) $31.4 Interest Expense $8.8 $7.7 $6.5 Interest Incom
Slide 23: Vishay
Vishay The DNA of tech ® © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.