Slide 1: Q4 / Full Year 2021 Earnings Release
Q4 / FULL YEAR 2021 EARNINGS RELEASE February 1, 2022 1
Slide 2: Disclaimers
DISCLAIMERS Important Information About Littelfuse, Inc. This presentation does not constitute or form part of, and should not be construed as, an offer or solicitation to purchase or sell securities of Littelfuse, Inc. and no investment decision should be made based upon the information provided he
Slide 3: Business Update
BUSINESS UPDATE Dave Heinzmann, President & CEO
Slide 4: Q4 / Full Year 2021 Highlights
Q4 / FULL YEAR 2021 HIGHLIGHTS Continued momentum to deliver strong fourth quarter performance Significant growth driven by content & share gains Broad-based strength across industrial, transportation & electronics end markets Completed Hartland Controls & Carling Technologies acquisitions,
Slide 5: 2021 – 2025 Growth Strategy
2021 – 2025 GROWTH STRATEGY EMPOWERING A SUSTAINABLE, CONNECTED, AND SAFER WORLD Double-Digit Best-in-Class Deliver Top Tier Revenue Growth Profitability Shareholder Returns Outcomes Content & High-Growth Markets Strategic Share Gains & Geographies Acquisitions Our Growth Drivers Sustainability Conn
Slide 6: Littelfuse & Carling Technologies: Combination of Two Industry Leading Brands
LITTELFUSE & CARLING TECHNOLOGIES: COMBINATION OF TWO INDUSTRY LEADING BRANDS STRENGTHENS COLLECTIVE MARKET POSITION Accelerates Growth in Expansion of Leverages Enables Strategic Applications & Technologies & Complementary Combined Markets Capabilities Customers & Channels Critical Scale Signific
Slide 7: Industrial End Markets Positioned for Continued Growth
INDUSTRIAL END MARKETS POSITIONED FOR CONTINUED GROWTH 2021 Highlights 2021 Key Design Wins Accelerated growth in: – Renewables, led by solar & energy storage systems – HVAC – Data center & cloud computing Successful acquisition of Hartland Controls New product development to support strategic
Slide 8: Transportation End Markets Extending Our Leadership Position
TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION 2021 Highlights 2021 Key Design Wins Significant passenger vehicle market outgrowth – Content growth in EVs, higher-end vehicles, automotive electronics – Market share gains Completed Carling Technologies acquisition – More than double
Slide 9: Electronics End Markets Leveraging Our Leadership
ELECTRONICS END MARKETS LEVERAGING OUR LEADERSHIP 2021 Highlights 2021 Key Design Wins Amplified customer demand driving increased content opportunities across a broad range of applications – Data center – Telecom infrastructure – Factory & building automation – Appliances – Consumer electronics
Slide 10: Commitment to Sustainability
COMMITMENT TO SUSTAINABILITY DIVERSE PEOPLE. BOLD SOLUTIONS. SUSTAINED SUCCESS. Environmental Social Governance Women hold 54% of all Board Composition: Targeting Greenhouse Gas positions, and 20% of 22% female (GHG) reduction of 38% by 2035 leadership positions 33% underrepresented minorities Cor
Slide 11: Financial Update
FINANCIAL UPDATE Meenal Sethna, EVP & CFO
Slide 12: Q4-21 Financial Performance
Q4-21 FINANCIAL PERFORMANCE (in millions) Revenue & EPS Highlights Record revenue, +38% vs. prior year +23% organic vs. prior year Strength in sales across all segments $553 $401 GAAP operating margin 16.8%; Adjusted operating margin 17.0%, +40 bps vs prior year Adjusted EPS +42% vs. prior
Slide 13: Full Year 2021 Financial Performance
FULL YEAR 2021 FINANCIAL PERFORMANCE (in millions) Revenue & EPS Highlights Record revenue, +44% vs. prior year +33% organic vs. prior year GAAP operating margin 18.5%; Record adjusted $2,080 operating margin 19.1% $1,446 +480 bps operating margin expansion vs. prior year despite ongoing inf
Slide 14: 2021 – 2025 Framework: Continued Top Tier Shareholder Returns
2021 – 2025 FRAMEWORK CONTINUED TOP TIER SHAREHOLDER RETURNS CAPITAL REVENUE EARNINGS CASH FLOW ROIC ALLOCATION • Double-digit • EPS growth • 100%+ free • 5-year goal: • Return 40% revenue > revenue cash flow high-teens of free cash CAGR growth conversion ROIC % flow to shareholders • 17 – 19% • Cap
Slide 15: Q4-21 Segment Performance
Q4-21 SEGMENT PERFORMANCE (in millions) Electronics Segment Transportation Segment* Industrial Segment Revenue Revenue Revenue $342 $142 $124 $70 $245 $31 Q4-20 Q4-21 Q4-20 Q4-21 Q4-20 Q4-21 Op Op Op Margin 17.1% 23.2% 16.9% 7.5% 11.4% 6.0% Margin Margin Revenue growth +39% / organic +36% Revenu
Slide 16: Full Year 2021 Segment Performance
FULL YEAR 2021 SEGMENT PERFORMANCE (in millions) Electronics Segment Transportation Segment* Industrial Segment Revenue Revenue Revenue $1,301 $528 $251 $396 $938 $112 FY-20 FY-21 FY-20 FY-21 FY-20 FY-21 Op Op Op Margin 16.3% 23.8% Margin 10.5% 12.5% Margin 10.7% 9.0% Revenue growth +39% / organic
Slide 17: Q1-22 Guidance
Q1-22 GUIDANCE (in millions) Revenue & EPS Highlights Market Dynamics Demand environment remains strong $563 ~$20m FX headwind to sales for 2022 full - year at current rates $464 $577 +100 bps full year additional margin headwinds...ongoing inflationary pressures Expect to largely offset t
Slide 18: 2022 Full Year Considerations
2022 FULL YEAR CONSIDERATIONS Carling Technologies acquisition (Transportation Segment) – ~$185m – $190m revenue – ~30 cents EPS, net of deal amortization – ~100 bps company operating margin dilution Low $50m's non-cash amortization expense ~$17m interest expense at current rates Adjusted ef
Slide 19: Key Takeaways
KEY TAKEAWAYS Delivered record financial performance with significant sales & earnings growth Strong global growth & execution, driven by tremendous efforts from world-class associates Progress across businesses on strategic initiatives to drive demand creation Well-positioned to deliver con
Slide 20: Q&A
Q&A Littelfuse, Inc. © 2021 20
Slide 21: Appendix
APPENDIX Littelfuse, Inc. © 2021 21
Slide 22: Supplemental Financial Information
SUPPLEMENTAL FINANCIAL INFORMATION Littelfuse, Inc. © 2022 22
Slide 23: Supplemental Financial Information
SUPPLEMENTAL FINANCIAL INFORMATION Littelfuse, Inc. © 2022 23
Slide 24: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2022 24
Slide 25: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2022 25