Slide 1: Fiscal 2022 Third Quarter Financial Results
FISCAL 2022 THIRD QUARTER FINANCIAL RESULTS March 3, 2022
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward- looking statements are subject to the safe harbor protection provid
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement the company's financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), Methode uses certain non-GAAP financial measures, such as EBITDA, Net Debt, and Free Cash Flow. Reconciliation to the near
Slide 4: FY22 Q3 Highlights
FY22 Q3 Highlights Quarterly Performance Electric Vehicle Activity Sales of $292 Million, Including $9M in Freight Recovery Record EV Application Sales European Auto Demand Headwind 19% of Q3 Consolidated Sales Strength in Power and Lighting Products Expect High-Teens % in FY22, Up from Mid-Teens Bu
Slide 5: FY22 Q3 Select Business Awards
FY22 Q3 Select Business Awards Electric Vehicles • Inverter Busbar Assembly for European Auto OEM • Battery Busbar Assembly for European Auto OEM • Multi-function Switch Assembly for Asian Auto OEM $75M * • Electronic Parking Brake Switch for European Auto OEM • Battery Busbar Assembly for European
Slide 6: Financial Results
Q@AETHODE ELECTRONICS Financial Results
Slide 7: FY22 Q3 Financial Highlights
FY22 Q3 Financial Highlights Net Sales Income from Diluted Earnings ($M) Operations per Share ($M) ($) $295.3 $291.6 $35.4 $0.83 $0.78 $29.8 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 7 FY22 Q3 Sales Aided by Premium Freight Cost Recoveries
Slide 8: FY22 Q3 Financial Results: Margins
FY22 Q3 Financial Results Gross Margin % Selling & Administrative % • Lower product sales volume • Higher restructuring costs • Unfavorable product mix • Higher salary expense • Higher restructuring costs Partially offset by: Partially offset by: • Lower professional fees • Premium freight cost reco
Slide 9: FY22 Q3 Financial Results: Net Income and EBITDA
FY22 Q3 Financial Results Net Income EBITDA* ($M) ($M) • Higher restructuring costs • Lower income from operations • Higher cost of products sold Partially offset by: • Higher selling & administrative expense • Higher other income Partially offset by: • Premium freight cost recovery • Higher other i
Slide 10: FY22 Q3 Balance Sheet
FY22 Q3 Balance Sheet Debt Cash and Cash Net Debt* ($M) Equivalents ($M) ($M) FY22 Q1 $215.6 Free Cash Flow* $240.1 $233.2 ($6.2) $153.1 $62.5 $6.9 FY21 Q4 FY22 Q3 FY21 Q4 FY22 Q3 FY21 Q4 FY22 Q3 * See Appendix for reconciliation to GAAP 10 YTD Share Buyback of 1,425,190 Shares for $63.7M
Slide 11: FY22 Q3 Free Cash Flow
FY22 Q3 Free Cash Flow Net Cash Provided by Capital Free Cash Flow* Operating Activities Expenditure ($M) ($M) ($M) FY22 Q1 $87.1** $82.2** Free Cash Flow* ($6.2) $20.1 $8.3 $11.8 $4.9 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 * See Appendix for reconciliation to GAAP ** Included $39.1 million
Slide 12: FY22 Guidance
FY22 Guidance FY22 Full Year • Net sales for FY22 of $1,160 - $1,170 million, up from $1,140 - $1,160 • Diluted earnings per share for FY22 of $3.05 - $3.15, narrowed from $3.00 - $3.20 The guidance is subject to disruption due to a variety of factors including the impact from the COVID-19 pandemic,
Slide 13: Thank You
AETHODE ELECTRONICS Thank You
Slide 14: Appendix: Reconciliation of Non-GAAP Measures
Appendix AETHODE ELECTRONICS METHODE ELECTRONICS, INC. AND SUBSIDIARIES. RECONCILIATION OF NON-GAAP MEASURES (Unaudited) EBITDA: Net income Income tax expense Interest expense, net Amortization of intangibles Depreciation EBITDA Free Cash Flow: Net cash provided by operating activities Purchases of