Gentex Corporation · NASDAQ:GNTX
Gentex — Shareholder Meeting (May 2025)
26 slides from Gentex's shareholder meeting presentation, May 15, 2025
Slide 1: Looking Back, Focused Forward
LOOKING BACK FOCUSED FORWARD GENTEX A NNUAL SHAR EHOLDER MEETING 1 MAY 15, 2025
Slide 2: Safe Harbor for Forward-Looking Statements
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this communication that are not purely historical are forward -lookin
Slide 3: Performance
$2.31B 14.3% Revenue Annual Tax Rate 2024 33.3% $144.7M PERFORMANCE Gross Margin Capital Expenditures $311.4M $94.7M Operating Expenses Depreciation (E, R&D and S, G&A) & Amortization GENTEX A NNUAL SHAR EHOLDER MEETING 3 MAY 15, 2025
Slide 4: Guidance
$2.15 – 2.32B 15 – 17% Revenue Annual Tax Rate 2025 33 – 34% $100 – 125M GUIDANCE* Gross Margin Capital Expenditures Updated April 25, 2025 $300 – 310M $85 – 90M Operating Expenses Depreciation (E, R&D and S, G&A) & Amortization *2025 Guidance assumes China revenue of $50-120M, of which $43M was shi
Slide 5: Return to Shareholders
RETURN TO SHAREHOLDERS Since 2014, GNTX has repurchased and retired more than 106M shares. 2024 $0.48 $800.0 RETURN OF CAPITAL $708.2M Dividend Per Share $700.0 $116.6 $110.4M $600.0 Dividends Paid $500.0 $447.8M $439.9M MILLIONS USD $405.7M $400.0 6.4M $340.2M $116.3 $117.2 $115.3 $316.5M $300.0 $2
Slide 6: Light Vehicle Production
LIGHT VEHICLE PRODUCTION • 2025 is slated to be down approx. 2% in our primary markets (As of April 16, 2025) －North America is under substantial pressure －Delayed or cancelled EV programs globally • 2026 shows modest recovery in NA and flat to down in our primary markets Light Vehicle Production (L
Slide 7: Growth Through Features and Vehicle Content
GROWTH THROUGH FEATURES AND VEHICLE CONTENT 2017 95.1M Vehicles Globally 2024 89.5M Vehicles Globally 2025* 87.9M Vehicles Globally 28M China (29.4%) 30.1M China (33.6%) 30.5M China (34.7%) $1.79B Revenue $2.3B Revenue $2.15-2.32B Revenue Global LVP Revenue vs. Light Vehicle Production Revenues 100,
Slide 8: Complexity Creates Opportunities
COMPLEXITY CREATES OPPORTUNITIES Many moving pieces: Complexity creates opportunities: • Tariffs – temporary or longstanding • Nearshoring and freight adjustments • Competition • Regionally amplified advantages • Price down requests from customers • Customer collaboration and LTAs • Component shorta
Slide 9: Ongoing Initiatives
ONGOING INITIATIVES • New product launches • Additional nameplate wins • Content per vehicle upgrades • VAVE initiatives and product redesigns • Component pricing reductions • Optimizing the business for production • Acquisitions and partnerships • Investing in technology This is the steady grind Ge
Slide 10: Company History: Milestones
COMPANY HISTORY: MILESTONES GENTEX A NNUAL SHAR EHOLDER MEETING 10 MAY 15, 2025
Slide 11: Who We Are
WHO WE ARE • Technology company and long-time supplier of electro-optical products • Best known for automatic-dimming rearview mirrors and strategic electronic modules that help automakers get new tech in vehicles • Fusion of technologies Markets: AUTOMOTIVE AEROSPACE FIRE PROTECTION MEDICAL GENTEX
Slide 12: Core Competencies
CORE COMPETENCIES • Gentex is highly vertically integrated to drive innovation • We’re skilled in: GENTEX A NNUAL SHAR EHOLDER MEETING 12 MAY 15, 2025
Slide 13: Technology Platforms
TECHNOLOGY PLATFORMS DIGITAL VISION DIMMABLE GLASS CONNECTIVITY SENSING GENTEX A NNUAL SHAR EHOLDER MEETING 13 MAY 15, 2025
Slide 14: CES – Future Growth Focused
CES – FUTURE GROWTH FOCUSED • A premier show experience for announcing, launching, and demonstrating new tech • Brings together customers, end-users, and investors • Focus on our core markets: automotive, aerospace, fire protection, and medical GENTEX A NNUAL SHAR EHOLDER MEETING 14 MAY 15, 2025
Slide 15: CES – Automotive – FDM
CES – AUTOMOTIVE – FDM • Intelligent rear-vision system • Custom camera streams live video to unique FDM Volume mirror-integrated display 3500000 2024: 2.96M 3000000 • The Camera feature drivers are looking for: 2500000 －Highest feature desirability score in the JD Power 2022 2000000 Tech Experience
Slide 16: CES – Automotive – DMS and ICMS
CES – AUTOMOTIVE – DMS AND ICMS • Integrated Driver Monitoring and In-Cabin Monitoring • Combines Gentex digital vision and sensing • Shipping with Rivian, with three more launching in next two years Seamless integration: －Gentex works with OEMs to meet regional requirements and targets －Integrates
Slide 17: CES – Automotive – HomeLink Smart Home Solutions
CES – AUTOMOTIVE – HOMELINK SMART HOME SOLUTIONS • Vehicle-integrated programmable HomeLink buttons operate virtually any type of home automation device • HomeLink Smart Home Solutions provide complete system components and functionality • Multiple transmission modes for maximum compatibility: －Radi
Slide 18: CES – Automotive – Large Area Dimmable Devices
CES – AUTOMOTIVE – LARGE AREA DIMMABLE DEVICES • Electrochromic glass and film-based solutions • Manual or automatic switching modes • Industry-leading dynamic range • Neutral gray scale control throughout range • Extremely low haze • Use cases: －Aerospace, sunroofs, visors, side windows, etc. +BENE
Slide 19: CES – Automotive – Dimmable Visors
CES – AUTOMOTIVE – DIMMABLE VISORS • Dimmable sun visors reduce sunlight glare while allowing drivers to view forward road scenes • Folds down like a traditional visor, but with an electrochromic element that darkens: －on demand －automatically combined with a sunload sensor • Can also be equipped wi
Slide 20: CES – Fire Protection
CES – FIRE PROTECTION – • Combines our history of connectivity and sensing • Over 50 years of experience in commercial fire protection • Innovative suite of smart home safety products with room-specific functionality • Industry-first low frequency sounder • Blends safety, comfort, and security featu
Slide 21: CES – Emerging Tech
CES – EMERGING TECH GENTEX A NNUAL SHAR EHOLDER MEETING 21 MAY 15, 2025
Slide 22: CES – Emerging Tech
CES – EMERGING TECH GENTEX A NNUAL SHAR EHOLDER MEETING 22 MAY 15, 2025
Slide 23: VOXX Acquisition
VOXX ACQUISITION • Existing 30% Ownership, fully acquired April 1, 2025 －$7.50 per share －675+ employees －Expected $240-280M in revenue in 2025 • Opportunities －Long-time distributor of aftermarket GNTX products －Trading below book value －Existing auto revenues －Consumer tech and audio opportunities
Slide 24: VOXX Acquisition
VOXX ACQUISITION OEM and Aftermarket Solutions Premium Audio and Physical Security and • In-vehicle entertainment Consumer Electronics Solutions Embedded Solutions • Home theater systems • Fast, accurate, reliable biometric • Remote start, vehicle access/security technology for identification, • Tur
Slide 25: Sustainability
SUSTAINABILITY • Find the latest Sustainability Report [Link] and Sustainability Policies [Link] on Gentex.com SOCIAL RESP ONSIBILIT Y Zero landfill waste by Energy Diversity, Equity and Inclusion Council 2045 Waste Stewardship Spanish-Speaking Production Lines Water Management Carbon neutral by Tra
Slide 26: Thank You
THANK YOU • For more information, visit －ir.Gentex.com －Gentex.com －fulldisplaymirror.com GENTEX A NNUAL SHAR EHOLDER MEETING 26 MAY 15, 2025