Fabrinet · NYSE:FN
Fabrinet — Investor Presentation (November 2021)
14 slides from Fabrinet's investor presentation, Nov 1, 2021
Slide 1: Company Overview
Company Overview November 1, 2021
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements other than statements of histori
Slide 3: Company Overview
Company Overview Global leader in advanced precision optical/ electronic/mechanical manufacturing services Fabrinet UK Calne, Wiltshire, UK VitroCom Fabrinet Israel Focus on high-mix/low-volume mission- Mountain Lakes, NJ Yokneam, Israel Fabrinet West Casix critical components and modules Santa Clar
Slide 4: Products We Manufacture
Products We Manufacture Optical Industrial Lasers Automotive Optical Sensing Communications ◼ Transceivers ◼ Fiber Lasers ◼ LIDAR ◼ LIDAR ◼ Modulators ◼ Solid-State Lasers ◼ EV Charging ◼ 3D Sensing ◼ Optical Amplifiers ◼ Gas Lasers ◼ LED & Laser ◼ AR/VR Systems ◼ ROADM ◼ Ultrafast Lasers Lighting ◼
Slide 5: Efficient Global Manufacturing Footprint
Efficient Global Manufacturing Footprint Scalable Optical & Electro-Mechanical Assembly Customized Optics Quick-turn NPI Services Santa Clara, USA Fabrinet West Fuzhou, China Bangkok, Thailand Casix Pinehurst campus Calne, UK Fabrinet UK New Jersey, USA Chonburi, Thailand VitroCom Chonburi campus Yo
Slide 6: Investment Highlights
Investment Highlights ✓ Large & Growing Addressable Markets ✓ Differentiated Business Model with Significant Barriers to Entry Unique Expertise in Precision Manufacturing Technologies ✓ Geared To Next-Generation Products in Diverse Industries ✓ Strong Relationships With Industry Leading OEMs ✓ Demon
Slide 7: Strong Revenue
Strong Revenue Consolidated revenue US$MM 600 509.6 543.3 453.8 479.3 500 403.1 426.2 399.0 411.2 405.1 405.1 399.3 436.6 400 300 200 100 0 Dec'18 Dec'19 Dec'20 Mar '19 Mar'20 Mar'21 Jun '19 Jun '20 Jun '21 Sep'19 Sep'20 Sep'21 Optical communications Non-optical communications Optical communications
Slide 8: Consistent Profitability Through the Cycles
Consistent Profitability Through the Cycles Non-GAAP gross margin and non-GAAP operating margin (1) % of Sales 15.0% 12.1% 12.1% 11.7% 12.0% 8.8% 9.5% 9.1% 9.7% 10.0% 5.0% 0.0% FY2020 FY2021 1Q21 1Q22 Gross margin Operating margin ROIC (2) (1) Excludes share based compensation, executive separation
Slide 9: Recent Financial Performance
Recent Financial Performance Key Financials US$MM, except per share figures 3 months ended ◼ Record Q1 revenue of 24-Sep-21 25-Sep-20 $543.3MM was above the Revenue 543.3 436.6 guidance range Y-o-Y change 24% 9% ◼ Q1 non-GAAP gross margin of Gross profit (non-GAAP) (1) 65.7 52.4 12.1% was within the
Slide 10: Balance Sheet Supports Growth
Balance Sheet Supports Growth Selected Items US$MM As of Sep 24, 2021 Cash, cash equivalents (1) 528.6 Working capital (2) 438.3 Property, plant & equipment, net 271.7 Total debt (3) 36.5 Total shareholders’ equity 1,146.0 (1) Cash & cash equivalents include marketable securities and restricted cash
Slide 11: Appendix
fabrinet . mm >) —< a TRUSTED MANUFACTURING PARTNER OF THE WORLD'S LEADING OEMS Appendix
Slide 12: Non-GAAP Reconciliation of Gross Margin and Operating Margin
Non-GAAP Reconciliation of Gross Margin and Operating Margin Reconciliation of GAAP Gross Profit and GAAP Gross Margin to Non-GAAP Gross Profit and Non-GAAP Gross Margin (in thousands of U.S. dollars) Three Months Ended Twelve Months Ended September 24, June 25, September 25, June 25, 2021 June 26,
Slide 13: Non-GAAP Reconciliation of Net Profit and EPS
Non-GAAP Reconciliation of Net Profit and EPS (in thousands of U.S. dollars, except per share data) FQ1'22 FQ4'21 FQ1'21 September 24,2021 June 25,2021 September 25,2020 Net income Diluted EPS Net income Diluted EPS Net income Diluted EPS GAAP measures 44,651 1.20 42,413 1.13 33,051 0.88 Items recon
Slide 14: Revenue Mix
Revenue Mix F1Q20 F2Q20 F3Q20 F4Q20 F1Q21 F2Q21 F3Q21 F4Q21 F1Q22 Optical Communications 76% 76% 75% 78% 79% 77% 75% 76% 79% Datacom 24% 23% 28% 27% 24% 21% 22% 20% 21% Telecom 76% 77% 72% 73% 76% 79% 78% 80% 79% Non-Optical Communications 24% 24% 25% 22% 21% 23% 25% 24% 21% Optical and non-optical