Slide 1: Vishay Precision Group Fourth Fiscal Quarter 2021 Earnings
Slide 2: Safe Harbor Statement
Safe Harbor Statement From time to time, information provided by us, including, but not limited to, statements in this press release, or other statements made by or on our behalf, may contain or constitute "forward-looking" information within the meaning of the Private Securities Litigation Reform A
Slide 3: Fiscal 2021 Highlights
Fiscal 2021 Highlights Consolidated Financial Highlights (in $ millions) • Record sales of $318 million reflect growth of 17.8%, despite pandemic and labor availability challenges • Adjusted net earnings per diluted ($ in millions, except per share data, margin data and book-to-bill ratio) 2020 2021
Slide 4: VPG Focus: Performance Through Precision
VPG Focus: Performance Through Precision Who we are VPG is a leader in precision measurement sensing technologies serving growing applications around the world Why we matter VPG delivers in-depth, deep engineering expertise to the design and manufacture of non-commodity sensors, weighing solutions a
Slide 5: Applications Are Expanding and Diversifying Beyond Industrial
Applications Are Expanding and Diversifying Beyond Industrial • Secular trends are creating new opportunities • Investments in manufacturing process technology and product design have expanded addressable opportunities Legacy Applications New Applications General Test Industrial Medical Semiconducto
Slide 6: Strategic Evolution: Propelling the Next Phase of VPG's Growth
Strategic Evolution: Propelling the Next Phase of VPG’s Growth 2022 → 2017 – 2021 Focus on • Accelerated organic growth 2010 – 2016 • Value-added M&A: Focus on: • Complementary Focus on: • Operational excellence • New businesses • Spin off • Business restructuring Strategic • Organizational and • Co
Slide 7: Now Better Aligned to Capture Broader Opportunities
Now Better Aligned to Capture Broader Opportunities Segment Structure BEFORE Segment Structure NOW Vertical Integration: Foil Technology components used in Force Sensors and Weighing Control Systems products CORPORATE Foil Technology Products • Precision resistors • Strain gages-advanced sensors • D
Slide 8: Resilience and Growth: A Portfolio of Businesses with High Growth/Margin and High Cash Flow Potential
Resilience and Growth: A Portfolio of Businesses with High Growth/Margin and High Cash Flow Potential Sensors Weighing Solutions Measurement Systems FY21 VPG Revenue by Segment Overview High precision sensor Specialized modules Highly specialized and components that and systems used to measurement s
Slide 9: Performance Through Precision
PERFORMANCE THROUGH PRECISION 9
Slide 10: Fiscal Fourth Quarter 2021 Highlights
Fiscal Fourth Quarter 2021 Highlights Consolidated Financial Highlights (in $ millions) • Record revenue of $90 million, grew 9.8% sequentially • Adj. Net Earnings per Diluted Share grew 7.7% sequentially ($ in millions, except margin data • Generated Adj. EBITDA of $14.2 and book-to-bill ratio) 4Q2
Slide 11: Sensors: Fourth Quarter 2021 Highlights
Sensors: Fourth Quarter 2021 Highlights Consolidated Financial Highlights (in $ millions) • 4Q21 sales grew 11.2% sequentially and were up 7.1% from a year ago • Book-to-bill of 1.11x reflected higher orders in consumer and general industrial, offset mainly by lower ($ in millions, except margin dat
Slide 12: Weighing Solutions: Fourth Quarter 2021 Highlights
Weighing Solutions: Fourth Quarter 2021 Highlights Consolidated Financial Highlights (in $ millions) • 4Q21 revenues grew 4.5% sequentially and were up 8.5% from the prior year • Book-to-bill of 0.98x ($ in millions, except margin data • Force sensors OEM revenue grew and book-to-bill ratio) 4Q21 4Q
Slide 13: Measurement Systems: Fourth Quarter 2021 Highlights
Measurement Systems: Fourth Quarter 2021 Highlights Consolidated Financial Highlights (in $ millions) • 4Q21 revenues grew 15.6% sequentially reflecting higher KELK and DTS sales • The 69.7% increase in revenue compared to the prior year reflected ($ in millions, except margin data and book-to-bill
Slide 14: Financial Results
Financial Results Fiscal quarter ended ($ in millions, except margin data and per December 31, December 31, October 2, share amounts) 2021 2020 2021 Net revenues 90.0 Organic 75.4 82.0 Growth Acquisitions Gross profit 34.9 28.7 31.8 Gross profit margin 38.7 % 38.1 % 38.8 % Selling, general, and admi
Slide 15: Selected Balance Sheet Items
Selected Balance Sheet Items ($ in Millions) December 31, 2021 December 31, 2020 October 2, 2021 Cash & cash equivalents 84.3 98.4 75.6 Total assets 461.9 401.9 449.9 Total long-term debt 60.7 40.6 60.7 Total liabilities 184.8 144.0 180.3 PERFORMANCE THROUGH PRECISION 15
Slide 16: Thank You
Thank You PERFORMANCE THROUGH PRECISION 16 16
Slide 17: Appendix
Appendix PERFORMANCE THROUGH PRECISION 17 17
Slide 18: Fourth Quarter 2021 Market Trends
Fourth Quarter 2021 Market Trends Consolidated Revenue by Market $ in millions 4Q21 4Q20 3Q21 Test & Measurement 17.5 13.3 15.9 Avionics, Military, Space 7.9 10.5 7.5 Transportation 14.4 8.9 13.7 Industrial Weighing 14.3 11.7 12.3 General Industrial 4.4 3.9 4.1 Steel 12.3 9.5 11.1 Other Markets 19.1
Slide 19: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted EPS — Quarter
Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share — Quarter Net Earnings Attributable Diluted Earnings Gross Profit Operating Income to VPG Stockholders Per share Fiscal Quarter Ended December 31, 2021 2020 2021 2020 2021 2020 2021 2020 As reporte
Slide 20: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted EPS — YTD
Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted Earnings Per Share — YTD Net Earnings Attributable Diluted Earnings Gross Profit Operating Income to VPG Stockholders Per share Fiscal Year Ended December 31, 2021 2020 2021 2020 2021 2020 2021 2020 As reported - GAA
Slide 21: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA Fiscal quarter ended December 31, December 31, October 2, In $ thousands, except margin data 2021 2020 2021 Net earnings attributable to VPG stockholders $ 5,961 $ 118 $ 5,379 Interest Expense 324 329 328 Income tax expense 1,781 3,142 1,662 Depre
Slide 22: Historical Segment Highlights
Historical Segment Highlights 2021 2020 In $ thousands except margin data Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Sensors Net revenues $ 31,815 $ 31,176 $ 30,721 $ 34,149 $ 127,861 $ 28,692 $ 30,299 $ 29,889 $ 31,875 $ 120,754 Gross profit margin 40.3 % 38.9 % 31.1 % 32.1 % 35.6 % 37.0 % 42.5 % 40.4 % 37.5
Slide 23: Reconciliation of Adjusted Gross Profit by Segment — 2021
Reconciliation of Adjusted Gross Profit by Segment — 2021 2021 In $ thousands except margin data Q1 Q2 Q3 Q4 YTD Sensors As reported - GAAP $ 12,833 $ 12,120 $ 9,568 $ 10,954 $ 45,474 As reported - GAAP Margins 40.3 % 38.9 % 31.1 % 32.1 % 35.6 % Start-up costs 129 1,159 970 916 3,174 COVID-19 impact
Slide 24: Reconciliation of Adjusted Gross Profit by Segment — 2020
Reconciliation of Adjusted Gross Profit by Segment — 2020 2020 In $ thousands except margin data Q1 Q2 Q3 Q4 YTD Sensors As reported - GAAP $ 10,620 $ 12,878 $ 12,063 $ 11,968 $ 47,530 As reported - GAAP Margins 37.0 % 42.5 % 40.4 % 37.5 % 39.3 % COVID-19 impact — (38) 159 163 284 As Adjusted - Non