Fabrinet · NYSE:FN
Fabrinet — Q1 2021 Earnings Presentation
14 slides from Fabrinet's earnings presentation, Nov 2, 2020
Slide 1: Company Overview
Company Overview November 2, 2020
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 Autonomous LIDAR Modulators Solid-State Lasers Vehicles 3D Sensing Optical Amplifiers Gas Lasers LED & Laser AR/VR Systems Lighting ROADM Ultrafast Lasers
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 revenues US$MM 450 403.1 426.2 399.0 411.2 405.1 405.1 399.3 436.6 400 377.2 337.1 332.2 345.3 350 300 250 200 150 100 50 0 Dec'17 Dec'18 Dec'19 Mar'18 Mar '19 Mar'20 Jun'18 Jun '19 Jun '20 Sep'18 Sep'19 Sep'20 Optical communications Lasers, sensors and other revenues Opt
Slide 8: Consistent Profitability Through the Cycles
Consistent Profitability Through the Cycles Non-GAAP gross margin and non-GAAP operating margin (1) % of Sales ROIC (2) (1) Excludes share based compensation, executive separation cost, depreciation of fair value uplift/intangibles, business combination expenses, restructuring costs, etc. See Append
Slide 9: Recent Financial Performance
Recent Financial Performance Key Financials US$MM, except per share figures 3 months ended 25-Sep-20 27-Sep-19 Record Q1 revenue of $436.6MM was above the Revenue 436.6 399.3 guidance range Y-o-Y change 9% 6% Q1 non-GAAP gross margin of Gross profit (non-GAAP) (1) 52.4 47.8 12.0% was within the
Slide 10: Balance Sheet Supports Growth
Balance Sheet Supports Growth Selected Items US$MM As of Sep 25, 2020 Cash, cash equivalents (1) 503.8 Working capital (2) 344.4 Property, plant & equipment, net 227.6 Total debt (3) 48.6 Total shareholders’ equity 1,000.7 (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 25, June 26, September 27, June 26, June 28, June
Slide 13: Non-GAAP Reconciliation of Net Profit and EPS
Non-GAAP Reconciliation of Net Profit and EPS (in thousands of U.S. dollaats, except peat shaate data) FQ1'21 FQ4'20 FQ1'20 September 25, 2020 June 26,2020 September 27, 2019 Net income Diluted EPS Net income Diluted EPS Net income Diluted EPS Net profit (GAAP measures) 33,051 0.88 28,024 0.75 25,95
Slide 14: Revenue Mix
Revenue Mix F1Q19 F2Q19 F3Q19 F4Q19 F1Q20 F2Q20 F3Q20 F4Q20 F1Q21 Optical Communications 74% 76% 75% 74% 76% 76% 75% 78% 79% Datacom 36% 32% 27% 28% 24% 23% 28% 27% 24% Telecom 64% 68% 73% 72% 76% 77% 72% 73% 76% Non-Optical Communications 26% 24% 25% 26% 24% 24% 25% 22% 21% Optical and non-optical