Slide 1: First Quarter 2025 Financial Results
First Quarter 2025 Financial Results April 25, 2025 1
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements, including, without limitation, those related to: strengthening demand in our CCS segment, demand environment and customer forecasts, our anticipated financial and/or operational results, guida
Slide 3: CEO Remarks
CEO Remarks 3
Slide 4: Q1 2025 Results
Q1 2025 Results1 Q1 2025 YTY2 Q1 2025 Guidance Revenue $2.649B +20% $2.475B - $2.625B GAAP Earnings from Operations as a % of Revenue 4.9% -80 bps GAAP EPS $0.74 -4% Adjusted Operating Margin (Non-GAAP) 7.1% +120 bps 6.8% Adjusted EPS (Non-GAAP) $1.20 +45% $1.06 - $1.16 1 See “Note Regarding Non-GAA
Slide 5: Q1 2025 Highlights
Q1 2025 Highlights¹ GAAP financial measures Q1 2025 B/(W) QTQ2 B/(W) YTY2 $ Millions (Except for per share amounts and %) Revenue $2,649 $103 $440 Gross Margin 10.3% (1.4%) 0.2% Earnings from Operations $128.8 ($73.8) $3.0 Earnings from Operations as a % of Revenue 4.9% (3.1%) (0.8%) Effective Tax R
Slide 6: ATS and CCS Segment Revenue and Profitability
ATS1 and CCS2 Segment Revenue and Profitability $ Millions Q1 2025 YTY3 ATS $807 Up 5% Revenue CCS $1,842 Up 28% Q1 2025 Revenue 5 Communications $1,428 Up 87% ATS Enterprise4 $414 Down 39% 30% $ Millions Q1 2025 YTY3 Segment Income6 ATS $41 Up 28% CCS $147 Up 49% CCS 70% Q1 2025 YTY3 Segment Margin
Slide 7: Working Capital and Cash Cycle Days
Working Capital $ Millions Q1 2025 B/(W) QTQ4 B/(W) YTY4 Inventory Turns1 5.4x 0.4x 1.5x Inventory $1,788 ($28) $163 Customer Cash Deposits for Inventory2 $472 ($40) ($248) Cash Cycle Days Q1 2025 Q4 2024 Q1 2024 Days in A/R3 72 73 75 Days in Inventory3 68 73 93 Days in A/P3 (51) (55) (62) Days in C
Slide 8: Cash Flow Overview
Cash Flow Overview Cash Provided by Operations Non-GAAP Free Cash Flow 1 ($M) 143 123 130 118 108 100 100 96 94 86 77 69 63 68 66 36 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 QTQ2 YTY2 $ Millions Q1 2025 Increase/(Decrease) Increase/(Decrease) Capex $37 ($11) ($3) Capex as a % of revenue 1.4%
Slide 9: Balance Sheet
Balance Sheet Balance Sheet (as of March 31, 2025) $ Millions Cash and cash equivalents $303 Revolver (excluding L/Cs) $150 Term Loans $737 Share Repurchases: Net Debt $584 $75M in Q1 2025 $115M 2025 YTD3 GAAP TTM Debt Leverage Ratio1 1.5x Non-GAAP Adjusted TTM Debt Leverage Ratio1 1.1x Total Liquid
Slide 10: Q2 2025 Guidance
Q2 2025 Guidance1,2 Revenue $2.575B - $2.725B 7.2% Adjusted Operating Margin (Non-GAAP) at the mid-point of revenue and non-GAAP adjusted EPS guidance ranges Adjusted EPS (Non-GAAP) $1.17 - $1.27 Q2 2025 Non-GAAP Tax Rate Estimate1,2 Adjusted Effective Tax Rate (Non-GAAP) of approximately 20% 1 See
Slide 11: Q2 2025 End Market Revenue Outlook
Q2 2025 End Market Revenue Outlook1,2 Year-over-Year Revenue % Change ATS3 Flat Communications Increase high-fifties Enterprise4 Decrease low-forties 1 Outlook reflects management’s expectations as of the date provided. 2 Our Q2 2025 End Market Revenue Outlook assumes no material changes to tariff o
Slide 12: 2025 Annual Outlook
2025 Annual Outlook1,2 2025 Outlook Previous 2025 Outlook Revenue Outlook $10.85B $10.70B Adjusted Operating Margin (Non-GAAP) 7.2% 6.9% Adjusted EPS (Non-GAAP) $5.00 $4.75 Free Cash Flow (Non-GAAP) $350M $350M 1 See “Note Regarding Non-GAAP Financial Measures”. Outlook reflects management’s expecta
Slide 13: Business Outlook
Business Outlook1,2 Advanced Technology Solutions Connectivity & Cloud Solutions Revenues expected to be ~flat in 2025 High-teens percentage revenue growth expected in 2025 Industrial Enterprise Demand improvements and program ramps expected to drive growth Reacceleration in 2H 2025 driven by ramp o
Slide 14: Concluding Remarks
Concluding Remarks ‘Celestica”
Slide 15: ~ Celestica-
~ Celestica- a ~~
Slide 16: First Quarter 2025 Financial Results
First Quarter 2025 Financial Results April 25, 2025
Slide 17: Appendix
Appendix oy ‘Celestica®
Slide 18: Segment Income and Margin
Segment Income and Margin1 * * Refers to notes to our March 31, 2025 unaudited interim condensed consolidated financial statements (Q1 2025 Interim Financial Statements) 1 Segment margin is segment income as a percentage of segment revenue. Segment income is defined as a segment’s revenue less its c
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures The non-GAAP financial measures included in this presentation are: adjusted gross profit, adjusted gross margin (adjusted gross profit as a percentage of revenue), adjusted selling, general and administrative expenses (SG&A), adjusted SG&A as a percentage of revenue, adju
Slide 20: Non-GAAP Financial Measures…continued
Non-GAAP Financial Measures…continued Restructuring and Other Charges (Recoveries) consist of, when applicable: Restructuring Charges (Recoveries) (defined below); Transition Costs (Recoveries) (defined below); consulting, transaction and integration costs related to potential and completed acquisit
Slide 21: GAAP to non-GAAP Reconciliation
GAAP to non-GAAP Reconciliation1 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 FY 2024 GAAP Revenue $ 1,939.4 $ 2,043.3 $ 2,140.5 $ 2,208.9 $ 2,391.9 $ 2,499.5 $ 2,545.7 $ 2,648.6 $ 9,646.0 Net earnings 57.1 75.1 91.6 91.8 95.0 89.5 151.7 86.2 428.0 Earnings per share - diluted $ 0
Slide 22: GAAP to non-GAAP Reconciliation…continued
GAAP to non-GAAP Reconciliation…continued1 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 FY 2024 GAAP Net earnings $ 57.1 $ 75.1 $ 91.6 $ 91.8 $ 95.0 $ 89.5 $ 151.7 $ 86.2 $ 428.0 As a percentage of revenue 2.9% 3.7% 4.3% 4.2% 4.0% 3.6% 6.0% 3.3% 4.4% Employee SBC expense 10.9 12.9
Slide 23: GAAP to non-GAAP Reconciliation…continued
GAAP to non-GAAP Reconciliation…continued1 The following table sets forth a reconciliation of our non-GAAP adjusted tax expense and our non-GAAP adjusted effective tax rate to our GAAP tax expense and GAAP effective tax rate for the periods indicated, in each case determined by excluding the tax ben
Slide 24: First Quarter 2025 Financial Results
First Quarter 2025 Financial Results April 25, 2025