Vishay Precision Group, Inc. · NYSE:VPG
Vishay Precision — Q1 2022 Earnings Presentation
15 slides from Vishay Precision's earnings presentation, May 10, 2022
Slide 1: First Fiscal Quarter 2022 Earnings
— Vishay Precision Group First Fiscal Quarter 2022 Earnings May 10, 2022 Cc) “ s ¥ ° ;
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: VPG: Performance Through Precision
VPG: Performance Through Precision Long-term Strategic Priorities: • Realize long-term benefits from diversified operational strategy that accelerates growth and profitability across VPG’s business segments • Capture expanding value-added applications in new and emerging precision measurement market
Slide 4: Fiscal First Quarter 2022 Highlights
Fiscal First Quarter 2022 Highlights Consolidated Financial Highlights (in $ millions) • Revenue of $87.7 million, grew 24.2% from the prior year • Adj. Net Earnings per Diluted Share grew 58.1% from the prior year • Generated Adj. EBITDA of $12.6 million, or 14.4% of revenue ($ in millions, except
Slide 5: Sensors: First Quarter 2022 Highlights
Sensors: First Quarter 2022 Highlights (in $ millions) • 1Q22 revenues grew 10.5% sequentially and were up 18.7% from a year ago • Book-to-bill of 1.27x reflected order growth of 26.5% from 4Q21 driven by higher orders for precision resistors and Advanced Sensors • Sequential order strength mainly i
Slide 6: Weighing Solutions: First Quarter 2022 Highlights
Weighing Solutions: First Quarter 2022 Highlights (in $ millions) • 1Q22 revenues grew 2.2% sequentially and were up 5.8% from the prior year • Book-to-bill of 1.06x • Force sensors OEM revenue grew 16% from 1Q21 • Orders grew sequentially 10.9% driven ($ in millions, except margin data and book-to-
Slide 7: Measurement Systems: First Quarter 2022 Highlights
Measurement Systems: First Quarter 2022 Highlights (in $ millions) • 1Q22 revenues declined 27.9% sequentially due to project-driven delivery cycles. • The 119.7% increase in revenue compared to the prior year was primarily due the acquisition of DTS on June 1, 2021. • Book-to-bill was 1.56x. 1Q22 1
Slide 8: Financial Results
Financial Results Fiscal quarter ended ($ in millions, except margin data and per share amounts) December 31, April 2, 2022 April 3, 2021 2021 Net revenues $ Organic 87.7 $ 70.6 $ 90.0 Growth Acquisitions Gross profit $ 35.3 $ 28.6 $ 34.9 Gross profit margin 40.2 % 40.5 % 38.7 % Selling, general, an
Slide 9: Selected Balance Sheet Items
Selected Balance Sheet Items ($ in Millions) April 2, 2022 April 3, 2021 December 31, 2021 Cash & cash equivalents $ 78.2 $ 96.2 $ 84.3 Total assets 457.8 398.6 461.9 Total long-term debt 60.7 40.6 60.7 Total liabilities 176.0 138.0 184.8 9 PERFORMANCE THROUGH PRECISION
Slide 10: Thank You
Thank You PERFORMANCE THROUGH PRECISION 10 10
Slide 11: Appendix
Appendix PERFORMANCE THROUGH PRECISION 11 11
Slide 12: First Quarter 2022 Market Trends
First Quarter 2022 Market Trends Consolidated Revenue by Market $ in millions 1Q22 1Q21 4Q21 Test & Measurement $ 18.0 $ 14.4 $ 17.6 Avionics, Military, Space 8.2 6.0 7.9 Transportation 14.0 9.6 14.4 Industrial Weighing 13.2 12.0 14.3 General Industrial 5.9 4.1 4.4 Steel 7.3 7.0 12.3 Other Markets 2
Slide 13: Reconciliation of Adjusted Gross Profit, Operating Income, Net Earnings and Diluted EPS
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 Three months ended April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 April 2,
Slide 14: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA Fiscal quarter ended In $ thousands, except margin data April 2, 2022 April 3, 2021 December 31, 2021 Net earnings attributable to VPG stockholders $ 6,356 $ 4,961 $ 5,961 Interest Expense 329 305 324 Income tax expense 1,741 1,764 1,781 Depreciat
Slide 15: Reconciliation of Adjusted Gross Profit by Segment
Reconciliation of Adjusted Gross Profit by Segment Fiscal quarter ended In $ thousands except margin data April 2, 2022 April 3, 2021 December 31, 2021 Sensors As reported - GAAP $ 14,286 $ 12,833 $ 10,954 As reported - GAAP Margins 37.8 % 40.3 % 32.1 % COVID-19 impact 121 53 — Start-up costs $ 150
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