Vishay Precision Group, Inc. · NYSE:VPG
Vishay Precision — Q4 2024 Earnings Presentation
19 slides from Vishay Precision's earnings presentation, Feb 12, 2025
Slide 1: 4Q24 Earnings Call
VrPG 4Q24 Earnings Call February 12, 2025 Focused on precision measurement and sensing technologies that make the world SAFER, SMARTER, AND MORE PRODUCTIVE
Slide 2: Safe Harbor Statement
Safe Harbor Statement From time to time, information provided by us, including, but not limited to, statements in this presentation, 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 Ac
Slide 3: Fiscal 2024 Highlights
Fiscal 2024 Highlights Consolidated Financial Highlights (in $ millions) • Revenue of $307 million was 13.7% lower than the prior year, reflecting macro and cyclical headwinds. • Adjusted gross margin of 41.0%, adjusted operating margin of 6.0% and adjusted net earnings per diluted share of $0.95 re
Slide 4: Fiscal Fourth Quarter 2024 Highlights
Fiscal Fourth Quarter 2024 Highlights Consolidated Financial Highlights (in $ millions) • 4Q24 revenue of $72.7 million declined 4.1% sequentially. • Adj. Net Earnings per Diluted Share of $0.03 compared to $0.19 in 3Q24. • 4Q24 impacted by $700 thousand of one-time costs. • Orders of $72.4 million
Slide 5: Sensors: Fourth Quarter 2024 Highlights
Sensors: Fourth Quarter 2024 Highlights Consolidated Financial Highlights (in $ millions) • Sensors 4Q24 sales declined 8.7% sequentially and 24.8% from a year ago. The sequential decline primarily reflected lower sales in the Test and Measurement market and in Other markets. • 4Q24 gross profit mar
Slide 6: Weighing Solutions: Fourth Quarter 2024 Highlights
Weighing Solutions: Fourth Quarter 2024 Highlights Consolidated Financial Highlights (in $ millions) • 4Q24 revenues grew 2.2% sequentially and declined 15.4% from the prior year. • The sequential increase was driven by higher sales in Industrial Weighing as well as for precision agriculture and con
Slide 7: Measurement Systems: Fourth Quarter 2024 Highlights
Measurement Systems: Fourth Quarter 2024 Highlights Consolidated Financial Highlights (in $ millions) • 4Q24 revenues declined 5.3% from 3Q24 and 14.8% from the prior year. • The sequentially lower revenue was primarily due to lower DSI sales, which was partially offset by the added revenue related
Slide 8: Priorities for 2025
Priorities for 2025 • Continue focusing on initiatives to capture new Business Development customers and new market applications, including industrial and medical robots, consumer, data center, and aerospace and defense, among others. • Ongoing cost reduction and efficiency programs Cost Controls an
Slide 9: Financial Results
Financial Results Fiscal quarter ended ($ in millions, except margin data and per share amounts) December 31, December 31, September 28, 2024 2023 2024 Net revenues $ 72.7 $ 89.5 $ 75.7 Gross profit $ 27.8 $ 38.5 $ 30.3 Organic Gross profit margin Growth38.2% 43.0% Acquisitions 40.0% Adjusted gross
Slide 10: Selected Balance Sheet Items
Selected Balance Sheet Items ($ in Millions) December 31, December 31, September 28, 2024 2023 2024 Cash & cash equivalents $ 79.3 $ 84.0 $ 81.1 Total assets $ 450.9 $ 471.6 $ 462.5 Total long-term debt $ 31.4 $ 31.9 $ 31.4 Total liabilities $ 129.1 $ 141.6 $ 131.9 10 PERFORMANCE THROUGH PRECISION
Slide 11: Q&A
Q&A PERFORMANCE THROUGH PRECISION 11 11
Slide 12: Appendix
Appendix PERFORMANCE THROUGH PRECISION 12 12
Slide 13: Fourth Quarter and Annual 2024 Market Trends
Fourth Quarter and Annual 2024 Market Trends Consolidated Revenue by Market $ in millions 4Q24 4Q23 3Q24 2024 2023 Test & Measurement $ 13.4 $ 19.5 $ 14.3 $ 57.3 $ 74.0 Avionics, Military, Space 6.3 10.0 8.6 28.1 38.3 Transportation 13.3 14.1 12.8 52.3 55.1 Industrial Weighing 9.6 10.3 8.6 37.6 43.9
Slide 14: 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 to Gross Profit Operating Income VPG Stockholders Diluted Earnings Per share Fiscal Quarter Ended December 31, 2024 2023 2024 2023 2024 2023 2024 2023 As reporte
Slide 15: 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 to Gross Profit Operating Income VPG Stockholders Diluted Earnings Per share Fiscal Year Ended December 31, 2024 2023 2024 2023 2024 2023 2024 2023 As reported - GAA
Slide 16: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA - QTR
Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA - QTR Fiscal quarter ended December 31, December 31, September 28, In $ thousands, except margin data 2024 2023 2024 Net earnings attributable to VPG stockholders $ 768 $ 4,227 $ (1,351) Interest Expense 587 779 648 Income tax expense 1,222 4,403
Slide 17: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA - YTD
Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA - YTD Year ended December 31, December 31, 2024 2023 Net earnings attributable to VPG stockholders $ 9,911 $ 25,707 Interest Expense 2,512 3,974 Income tax expense 7,730 12,426 Depreciation 12,022 11,798 Amortization 3,783 3,752 EBITDA $ 35,958 $
Slide 18: Reconciliation of Adjusted Gross Profit by Segment
Reconciliation of Adjusted Gross Profit by Segment Fiscal quarter ended December 31, 2024 December 31, 2023 September 28, 2024 Sensors As reported - GAAP $ 8,229 $ 13,761 $ 8,730 As reported - GAAP Margins 32.0% 40.2% 31.0% — — — Start-up costs As Adjusted - Non GAAP $ 8,229 $ 13,761 $ 8,730 As Adju
Slide 19: VPG Sustainability
VPG Sustainability 2024 Milestones: • Updated sustainability website, sharing ESG performance indicators and adding ESG policies • Increased diversity of our Board of Directors • Updated VPG Global Code of Conduct; augmented our EH&S policies and objectives • Published energy management and water us
Vishay Precision Group — Q4 2024 Earnings Presentation on 6ix