Littelfuse, Inc. · NASDAQ:LFUS
Littelfuse — Investor Presentation (February 2020)
18 slides from Littelfuse's investor presentation, Feb 25, 2020
Slide 1: Investor Presentation
Investor Presentation February 25, 2020 1
Slide 2: Disclaimers
DISCLAIMERS Important Information About Littelfuse, Inc. This presentation does not constitute or form part of, and should not be construed as, an offer or solicitation to purchase or sell securities of Littelfuse, Inc. and no investment decision should be made based upon the information provided he
Slide 3: Littelfuse – A Growth Company
LITTELFUSE – A GROWTH COMPANY • $1.5 billion(1) industrial technology company; NASDAQ: LFUS Who • Global leader in circuit protection We Are • Growing provider of leading power control and sensing technologies • 11,000+ innovative employees worldwide • Deliver high-quality products to over 100,000 e
Slide 4: Littelfuse – An Attractive Growth Story
LITTELFUSE – AN ATTRACTIVE GROWTH STORY Secular Growth Best-In-Class Differentiators X Themes = Returns Global Presence and Double Digit Revenue Growth(1) Brand Safety Deep Customer and 17-19% Adj. Operating Margins (1) Distributor Relationships Resource Positioned in High-Growth Efficiency Double D
Slide 5: Secular Growth Themes Expand End Market Opportunities
SECULAR GROWTH THEMES EXPAND END MARKET OPPORTUNITIES Increased Content and Connectivity Resource Efficiency • Smart homes and appliances • Heightened focus on • Automotive electronics sustainability • Industry 4.0 • Electrification of vehicles • Hyperscale and 5G Safety • Alternative energy and ene
Slide 6: Balanced and Broad Range of End Markets Served
BALANCED AND BROAD RANGE OF END MARKETS SERVED $10+ Billion* Addressable Market Opportunity TRANSPORTATION ELECTRONICS • Passenger vehicle • Telecom • x-EV and related infrastructure • Data centers • Heavy truck • IT hardware & infrastructure • Material handling • Consumer electronics • Specialty on
Slide 7: Transportation Applications
TRANSPORTATION APPLICATIONS Why We Are Winning • Strong global relationships with OEMs and Tier 1 customers, suppliers and distributors • World-wide brand reputation for product quality, safety and reliability • Positioned to grow with 48V/Hybrid/EV platforms Ever-greater sophistication in electrica
Slide 8: Industrial Applications
INDUSTRIAL APPLICATIONS Why We Are Winning • Robust collaboration with customers and distribution channels • Unmatched technical engineering capabilities, service and support • Full range of protect and control technologies Increased focus on energy conservation is expanding the need for Littelfuse
Slide 9: Electronics Applications
ELECTRONICS APPLICATIONS Why We Are Winning • Deep strategic distribution and OEM channel partnerships • Diversity of customer base and applications • Broadest product offering Proliferation of smarter and more connected devices is driving demand for Littelfuse products *Represents hypothetical cont
Slide 10: 2017 – 2021 Strategy: What We Expect to Deliver
2017 – 2021 STRATEGY: WHAT WE EXPECT TO DELIVER Free Cash Flow* Double Digit Sales Double Digit EPS Approximates Net Growth Growth Income • 5-7% organic revenue • 17-19% adj. operating • Strong cash generation CAGR margins • Cap-Ex continues at • 5-7% CAGR from • 21-23% adj. EBITDA 4-5% of sales str
Slide 11: Disciplined M&A Strategy
DISCIPLINED M&A STRATEGY A FOUNDATION FOR ACCELERATED ORGANIC GROWTH Align with strategy and financial hurdles Deliver differentiated solutions Accelerated organic M&A Strengthen growth Objectives geographical presence Target high-growth, niche applications Build on protect, control, sense platforms
Slide 12: Strategic M&A Expands Organic Growth Opportunities
STRATEGIC M&A EXPANDS ORGANIC GROWTH OPPORTUNITIES 2012 2013 2014 2015 2016 2017 2018 ON Semiconductor Portfolio (semiconductors) Monolith ON Semiconductor (semiconductors) SymCom Portfolio (relays) IXYS Hamlin Menber’s S.p.A. (semiconductors) (sensors) (relays) Sigmar Accel AB (sensors) (sensors) U
Slide 13: Since Strategy Inception Proven Performance Delivers Best-in-Class Returns
SINCE STRATEGY INCEPTION PROVEN PERFORMANCE DELIVERS BEST-IN-CLASS RETURNS 2017-2021 Growing Sales Expanding Earnings Bolstering Cash from Adjusted Diluted EPS* Operations $ in Millions $ in Millions $1,504 $6.82 $245 $ per Share $3.82 $116 $668 2012 2019 2012 2019 2012 2019 Strong track record of r
Slide 14: Longterm Capital Allocation Priorities
LONGTERM CAPITAL ALLOCATION PRIORITIES EXECUTION OF GROWTH STRATEGY DRIVES INCREASING VALUE FOR SHAREHOLDERS 1 Disciplined Reinvestment to Drive Organic Growth Target Free Cash Flow* Deployment Share Repurchases 2 Target Debt / EBITDA Leverage 1.0x to 2.5x 20% Dividends 20% 3 Acquisitions that Align
Slide 15: Compelling Investment Proposition
COMPELLING INVESTMENT PROPOSITION A PROVEN SOURCE OF VALUE CREATION Positioned within secular growth themes across diverse end markets Demonstrated ability to drive above market organic growth through the cycle Strong track record of strategic acquisitions & financial performance Global tech
Slide 16: Littelfuse – Expertise Applied | Answers Delivered
P/4 Littelfuse Expertise Applied | Answers Delivered
Slide 17: Appendix
Exe it ie Appendix PROTECT CONTROL SENSE Wil e |
Slide 18: 2012 to 2019 Non-GAAP Measures
2012 TO 2019 NON-GAAP MEASURES ($ in millions, except per share data) Non-GAAP EPS reconciliation 2012 2019 GAAP diluted EPS $ 3.40 $ 5.60 EPS impact of Non-GAAP adjustments (below) 0.42 1.22 Adjusted diluted EPS $ 3.82 $ 6.82 Non-GAAP adjustments - (income)/expense 2012 2019 Acquisition related and