Slide 1: Financials and Metrics Q2 2020
FINANCIALS AND METRICS Q2 2020 © 2020 VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.
Slide 2: Notes on Forward-Looking Statements
NOTES ON FORWARD-LOOKING STATEMENTS 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 simil
Slide 3: Highlights Q2 2020
Q2 FINANCIALS AND METRICS HIGHLIGHTS Q2 2020 ▪ Revenues Q2 of $582 million ▪ Gross margin Q2 of 22.5%; adjusted gross margin 22.6% ▪ Operating margin Q2 of 7.0%; adjusted operating margin 7.2% ▪ EPS Q2 of $0.17; adjusted EPS $0.18 ▪ Free Cash¹ for the trailing 12 months Q2 of $151 million ▪ Repurcha
Slide 4: Quarterly Financial Results
Q2 FINANCIALS AND METRICS QUARTERLY FINANCIAL RESULTS in millions, except per share amounts Q2 2020 Q1 2020 Q2 2019 Net revenues $582 $613 $685 Gross profit $131 $147 $175 22.5% 24.0% 25.5% Operating income $41 $47 $79 7.0% 7.7% 11.6% Net earnings attributable to Vishay stockholders $25 $27 $44 Weig
Slide 5: Adjusted Quarterly Financial Results
Q2 FINANCIALS AND METRICS ADJUSTED QUARTERLY FINANCIAL RESULTS in millions, except per share amounts Q2 2020 Q1 2020 Q2 2019 Net revenues $582 $613 $685 Gross profit $132 $150 $175 22.6% 24.5% 25.5% Operating income $42 $51 $79 7.2% 8.3% 11.6% Net earnings attributable to Vishay stockholders $26 $31
Slide 6: Reconciliation of GAAP to Adjusted
Q2 FINANCIALS AND METRICS RECONCILIATION OF GAAP TO ADJUSTED in millions Q2 2020 Q1 2020 Q2 2019 GAAP NET EARNINGS $25 $27 $44 attributable to Vishay stockholders Reconciling items affecting gross profit Impact of the COVID-19 outbreak $1 $3 - Other reconciling items affecting operating income Restr
Slide 7: Long Term Debt
Q2 FINANCIALS AND METRICS LONG TERM DEBT as of July 4, 2020 in millions Outstanding Debt Comments Interest Long term incl. current portion $438.5 Revolving Debt - Available through June 5, 2024 LIBOR plus 1.50% up to $750 million $527 million principal amount; Cash coupon 2.25% of principal or debt
Slide 8: Book-to-Bill Detail
Q2 FINANCIALS AND METRICS BOOK-TO-BILL DETAIL Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Book-to-bill Vishay 0.82 1.17 0.94 0.72 0.69 Book-to-bill distribution 0.75 1.30 0.94 0.55 0.55 Book-to-bill OEMs 0.93 1.04 0.95 0.90 0.86 Book-to-bill semiconductors 0.81 1.27 0.95 0.60 0.56 Book-to-bill passive c
Slide 9: Operational Metrics
Q2 FINANCIALS AND METRICS OPERATIONAL METRICS Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Change in ASP vs. prior year total Vishay (2.7) (2.9) (3.0) (1.9) (0.6) Change in ASP vs. prior year semis (4.5) (5.0) (5.9) (4.3) (1.9) Change in ASP vs. prior year passives (0.9) (0.9) (0.2) 0.5 0.6 FX effect on
Slide 10: Sharecount for EPS Calculation
Q2 FINANCIALS AND METRICS SHARECOUNT FOR EPS CALCULATION in million Total shares outstanding 145 Related to RSUs etc. <1 Average Stock Price Projected Diluted Shares <$32.00 145 $32.00 - $33.00 146 >$33.00 147 The table above summarizes the approximate number of shares for diluted EPS calculation. S
Slide 11: Sales Split Q2 2020
Q2 FINANCIALS AND METRICS SALES SPLIT Q2 2020 11% INDUCTORS 9% OPTO 23% AUTOMOTIVE 39% INDUSTRIAL 24% RESISTORS 21% DIODES 4% CONSUMER 10% COMPUTING 20% MOSFETs 6% TELECOM 5% POWER SUPPLIES 15% CAPACITORS 6% MEDICAL 7% MILTARY/AERO BUSINESS SEGMENTS PASSIVES END MARKETS 00% PASSIVES % SEMICONDUCT OR
Slide 12: Revenues and Gross Margin % Quarterly
Q2 FINANCIALS AND METRICS VISHAY REVENUES AND GROSS MARGIN % QUARTERLY excl. Spin-Off Vishay Precision Group in 2010 $ in millions % 800 45 750 40 700 35 650 30 600 25 550 20 500 15 450 10 400 5 350 0 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1
Slide 13: Revenues and Gross Margin % Yearly
Q2 FINANCIALS AND METRICS VISHAY REVENUES AND GROSS MARGIN % YEARLY excl. Spin-Off Vishay Precision Group in 2010 $ in millions % 3,400 36 3,100 32 2,800 28 2,500 24 2,200 20 1,900 16 1,600 12 1,300 8 1,000 4 700 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 SALES
Slide 14: Revenues Quarterly by Product Segment
Q2 FINANCIALS AND METRICS VISHAY REVENUES QUARTERLY BY PRODUCT SEGMENT $ in millions $ in millions 300 300 250 250 200 200 150 150 100 100 50 50 0 0 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20
Slide 15: Revenues Yearly by Product Segment
Q2 FINANCIALS AND METRICS VISHAY REVENUES YEARLY BY PRODUCT SEGMENT $ in millions $ in millions 1100 1100 1000 1000 900 900 800 800 700 700 600 600 500 500 400 400 300 300 200 200 100 100 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 © 2020 VISHAY INTERTECHNOLOG
Slide 16: Gross Margins Quarterly by Product Segment
Q2 FINANCIALS AND METRICS VISHAY GROSS MARGINS QUARTERLY BY PRODUCT SEGMENT % % 40 40 35 35 30 30 25 25 20 20 15 15 10 10 5 5 0 0 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2
Slide 17: Gross Margins Yearly by Product Segment
Q2 FINANCIALS AND METRICS VISHAY GROSS MARGINS YEARLY BY PRODUCT SEGMENT 45 45 40 40 35 35 30 30 25 25 20 20 15 15 10 10 5 5 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 © 2020 VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 17