Slide 1: First Quarter 2021 Earnings Presentation
First Quarter 2021 Earnings Presentation 1April 2021
Slide 2: Legal Notices
Legal Notices SAFE HARBOR Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statement
Slide 3: First Quarter 2021 Financial Results
First Quarter 2021 Financial Results Constant Currency* Organic* ($ in millions) Q1 2021 Q1 2020 YoY YoY YoY Net Sales $550 $453 22% 17% 11% Electronics 354 269 31% 27% 18% Industrial & Specialty 197 184 7% 4% 1% GAAP Diluted EPS $0.33 $0.03 Adj. EBITDA* $138 $110 25% 20% % margin 25.1% 24.3% 80 bps
Slide 4: First Quarter 2021 Segment Details
First Quarter 2021 Segment Details Market Commentary Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Assembly $189 27% Industrial recovery in Asia and the Americas, strong growth with EV customers, continued strength in electronics end-markets Circuitry $108 11% Demand strength fro
Slide 5: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management ▪ Q1 2021 free cash flow* of $24 million ▪ Net debt to adj. EBITDA ratio* of 2.7x on a LTM basis as of March 31, 2021 ▪ Q1 2021 burdened by full-year impact of prior year incentive payments ▪ Over $600 million of
Slide 6: Full Year 2021 Financial Guidance
Full Year 2021 Financial Guidance As of April 2021 $500M to $510M FY Adj. EBITDA* ~20% growth FY Adjusted Greater than $1.30 EPS* (more than 35% growth) ~$285M Free Cash Flow* (14% growth) ▪ Expect Q2 2021 adj. EBITDA* of $125 million to $130 million Additional ▪ Assumes a modest FX headwind to prio
Slide 7: Appendix
Appendix 7
Slide 8: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q1 2021 Q1 2020 Common shares outstanding 248 249 Number of shares issuable upon vesting of granted Equity Awards 1 2 3 Adjusted common shares outstanding 250 252 Note: Totals may not sum due to rounding 1. Equity awards with targets that
Slide 9: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q1 2021 Q1 2020 Net income attributable to common stockholders $82 $9 Add (subtract): Income from discontinued operations, net of tax - 0 Income tax expense 31 4 Interest expense, net 13 17 Depreciation expense
Slide 10: Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis
Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) LTM Q1 QTD 2021 Q2 2020 Q3 2020 Q4 2020 2021 Net income attributable to common stockholders $82 $1 $36 $30 $149 Add (subtract): Loss from discontinued operations, net of tax - 1 0 - 1 Income tax expense (benef
Slide 11: GAAP Net Income Reconciliation to Adjusted Diluted EPS
GAAP Net Income Reconciliation to Adjusted Diluted EPS ($ millions, except per share amounts) Q1 2021 Q1 2020 Net income attributable to common stockholders $82 $9 Net income from discontinued operations attributable to common stockholders - 0 Net income from continuing operations attributable to co
Slide 12: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended March 31, 2021 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Acquisitions Sales Growth Currency Growth Pricing Electronics 31% (5)% 27% (8)% —% 18% Industrial & Specialty 7% (3)% 4% —% (3)% 1% Tota
Slide 13: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation (dollars in millions) Q1 2021 Q1 2020 Cash flows from operating activities $ 33 $ 61 Capital expenditures (9) (11) Free cash flows $ 24 $ 51 Note: Totals may not sum due to rounding 13
Slide 14: Non-GAAP Definitions
Non-GAAP Definitions Adjusted Earnings Per Share (EPS): Adjusted EPS is a key metric used by management to measure operating performance and trends as management believes the exclusion of certain expenses in calculating adjusted EPS facilitates operating performance comparisons on a period-to-period