Slide 1: Fourth Quarter and Full Year 2022 Earnings Presentation
Fourth Quarter and Full Year 2022 Earnings Presentation Enabling Technology. Growing Sustainably.
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: Full Year 2022 Highlights
Full Year 2022 Highlights 5% 8% $1.41 $253M Organic net sales* Constant currency adj. Adj. EPS* Free cash flow* Resilient, increase EBITDA* growth Above-Market Performance vs. vs. 5% (11)% 5% 4% Electronics Organic FY 22 global smartphone Industrial & Specialty Global net sales* increase shipment de
Slide 4: Fourth Quarter 2022 Financial Results
Fourth Quarter 2022 Financial Results Constant Currency* Organic* ($ in millions) Q4 2022 Q4 2021 YoY YoY YoY Net Sales $574 $647 (11%) (3%) 3% Electronics 338 410 (18%) (11%) 0% Industrial & Specialty 236 237 0% 10% 7% GAAP Diluted EPS $0.05 $0.02 Adj. EBITDA* $108 $125 (13%) (2%) % margin 18.8% 19
Slide 5: Full Year 2022 Financial Results
Full Year 2022 Financial Results Constant Currency* Organic* ($ in millions) FY 2022 FY 2021 YoY YoY YoY Net Sales $2,549 $2,400 6% 13% 5% Electronics 1,604 1,583 1% 7% 5% Industrial & Specialty 945 817 16% 26% 5% GAAP Diluted EPS $0.75 $0.82 Adj. EBITDA* $527 $525 0% 8% % margin 20.7% 21.9% (120 bp
Slide 6: Full Year 2022 Segment Details
Full Year 2022 Segment Details Market Commentary Electronics Net Sales ($ in millions) Net Sales Organic Key Drivers ($ in millions) Growth* Assembly $839 7% Growth in power electronics and circuit board assembly products for industrial markets Circuitry $497 4% New customer wins, pricing actions an
Slide 7: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management ▪ FY 2022 free cash flow* of $253 million ▪ Net debt to adj. EBITDA ratio* of 3.1x on a LTM basis as of December 31, 2022 o Q4 2022 free cash flow* of $87 million ▪ Capital structure remains fully fixed-rate unti
Slide 8: Full Year 2023 Financial Guidance
Full Year 2023 Financial Guidance As of February 2023 FY Adj. Approximately flat at constant currency* EBITDA* $510 million to $530 million1 FY Adjusted EPS* $1.40 - $1.43 Free Cash Flow* $275 million ▪ Year-over-year FX headwind of approximately $10 million at current FX rates Additional ▪ Expect Q
Slide 9: Appendix
Appendix Enabling Technology. Growing Sustainably.
Slide 10: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) FY 2022 FY 2021 Q4 2022 Q4 2021 (Average) (Average) Basic common shares outstanding 241 247 244 247 Number of shares issuable upon vesting of granted Equity Awards 1 2 5 2 4 Adjusted common shares outstanding 243 251 247 251 Note: Totals
Slide 11: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Net income attributable to common stockholders $56 $65 $53 $13 $187 Add (subtract): Net income attributable to the non-controlling interests 0 0 0 0 1 Income from discont
Slide 12: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Net income attributable to common stockholders $82 $81 $36 $4 $203 Add (subtract): Net (loss) income attributable to the non-controlling interests — — (0) 1 0 (Income) lo
Slide 13: GAAP Net Income Reconciliation to Adjusted Diluted EPS
GAAP Net Income Reconciliation to Adjusted Diluted EPS ($ millions, except per share amounts) Q4 2022 Q4 2021 FY 2022 FY 2021 Net income attributable to common stockholders $13 $4 $187 $203 Net (loss) income from discontinued operations attributable to common stockholders — (2) 2 0 Net income from c
Slide 14: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended December 31, 2022 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Acquisitions Sales Growth Currency Growth Pricing Electronics (18)% 7% (11)% 11% —% 0% Industrial & Specialty 0% 10% 10% —% (2)% 7% T
Slide 15: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation (dollars in millions) Q4 2022 Q4 2021 YTD 2022 YTD 2021 Cash flows from operating activities $101 $121 $296 $326 Capital expenditures (15) (19) (48) (46) Disposal of property, plant and equipment 1 — 5 — Free cash flows $87 $103 $253 $280 Note: Totals may not sum due to
Slide 16: 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