Slide 1: Full Year and 4th Quarter 2024 Earnings Release Supplemental Information
02.13.25 Full Year and 4th Quarter 2024 Earnings Release Supplemental Information « knowles
Slide 2: Safe Harbor
Safe Harbor Forward Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, such as statements about our future plans, objectives, expectations, financial performa
Slide 3: Full Year 2024: A Year of Growth
2024 YEAR-OVER-YEAR Full Year 2024: Revenue Non-GAAP Diluted EPS* Net Cash Provided by A Year of Growth ($M) ($) Operating Activities ($M) • Continuing operations revenue grew 21% above 2023 driven by strength in 0.91 Medtech & Specialty Audio and the 553.5 130.1 addition of film, mica, and 122.7 el
Slide 4: Q4 2024 Year-Over-Year
Q4 2024 YEAR-OVER-YEAR Fourth Quarter Revenue Non-GAAP Diluted EPS* Net Cash Provided by ($M) ($) Operating Activities Results within ($M) Guided Range 142.5 0.27 • Revenue was within the guided 139.2 range, up 2% year over year. 0.22 60.4 • Non-GAAP diluted EPS was within the guided range; growing
Slide 5: 2024 Segment Performance: MedTech & Specialty Audio
2024 SEGMENT PERFORMANCE Revenue Adjusted EBITDA Margin* ($M) (%) Full Year 43.6 253.5 41.6 MedTech & Specialty Audio 235.4 Continued partnership with our customers to create innovative solutions which enhance the performance of their products drove full year revenue growth. +200 • Revenue grew 8% y
Slide 6: Q4 2024 Segment Performance: MedTech & Specialty Audio
Q4 2024 SEGMENT PERFORMANCE Revenue Adjusted EBITDA Margin* ($M) (%) Q4 45.8 MedTech & Specialty Audio 69.5 69.7 42.5 • Revenue was flat year over year based on shifts in product mix. • Adjusted EBITDA margins were down +0.3% -330 bps 330 bps year over year driven by higher incentive compensation co
Slide 7: 2024 Segment Performance: Precision Devices
2024 SEGMENT PERFORMANCE Revenue Adjusted EBITDA Margin* ($M) (%) Full Year 22.0 Precision Devices 20.2 Demand for high-performance capacitors is strong with a 300.0 noticeable acceleration of orders from Q3 on. • Revenue grew 36% from 2023 with the expansion of our 221.4 high-performance capacitor
Slide 8: Q4 2024 Segment Performance: Precision Devices
Q4 2024 SEGMENT PERFORMANCE Revenue Adjusted EBITDA Margin* ($M) (%) Q4 69.7 72.8 Precision Devices 18.7 20.5 • Revenue grew 4% year over year driven by our expanded portfolio of products acquired with Cornell. • Adjusted EBITDA margins improved 180 bps driven by factory productivity improvements in
Slide 9: Five Year Performance
FIVE YEAR PERFORMANCE Creating Value for our organization, our customers, and Revenue Growth our shareholders 553.5 478.8 441.9 456.8 Continuing operations revenue grew 355.4 12% 12% over a five-year period through a CAGR combination of organic growth and acquisitions. 2020 2021 2022 2023 2024 Adjus
Slide 10: Outlook: Q1 2025 Guidance
OUTLOOK Q1 2025 Guidance GAAP Adjustments Non-GAAP Revenues from continuing operations $124 to $134 million $— $124 to $134 million Diluted earnings per share from continuing $0.06 to $0.10 $0.10 $0.16 to $0.20 operations Net cash provided by operating activities $(15) to $(5) million $— $(15) to $(
Slide 11: Appendix
« knowles Appendix
Slide 12: Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures
RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES Quarter Ended December 31, Year Ended December 31, (continuing operations, in millions, except per share amounts) 2024 2023 2024 2023 Notes Revenues $ 142.5 $ 139.2 $ 553.5 $ 456.8 1. Production transfer costs represent duplica
Slide 13: Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures
RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES Quarter Ended December 31, Year Ended December 31, Notes (continuing operations, in millions, except per share amounts) 2024 2023 2024 2023 4. The non-GAAP reconciling adjustments are those adjustments made to Net earnings $ 10
Slide 14: Historical Segment Data
Precision Devices MedTech & Specialty Audio HISTORICAL SEGMENT DATA Quarter Ended Quarter Ended December 31, September 30, June 30, March 31, December 31, December 31, September 30, June 30, March 31, December 31, (continuing operations, in millions) 2024 2024 2024 2024 2023 2024 2024 2024 2024 2023
Slide 15: Historical Segment Data
HISTORICAL SEGMENT DATA Precision Devices MedTech & Specialty Audio Quarter Ended Quarter Ended December 31, September 30, June 30, March 31, December 31, December 31, September 30, June 30, March 31, December 31, (continuing operations, in millions) 2024 2024 2024 2024 2023 2024 2024 2024 2024 2023
Slide 16: Historical Segment Data
Precision Devices MedTech & Specialty Audio HISTORICAL SEGMENT DATA Year Ended Year Ended December 31, December 31, December 31, December 31, (continuing operations, in millions) 2024 2023 2024 2023 Revenues $ 300.0 $ 221.4 $ 253.5 $ 235.4 Gross profit $ 104.1 $ 86.2 $ 133.2 $ 119.7 Gross profit mar
Slide 17: Historical Segment Data
HISTORICAL SEGMENT DATA Precision Devices MedTech & Specialty Audio Year Ended Year Ended December 31, December 31, December 31, December 31, (continuing operations, in millions) 2024 2023 2024 2023 Revenues $ 300.0 $ 221.4 $ 253.5 $ 235.4 Operating earnings (loss) $ 15.0 $ 25.3 $ 97.5 $ 86.3 Other
Slide 18: Reconciliation of Segment EBIT to Consolidated Net Earnings
RECONCILIATION OF SEGMENT EBIT TO CONSOLIDATED NET EARNINGS Quarter Ended December 31, September 30, June 30, March 31, December 31, (Continuing operations, in millions) 2024 2024 2024 2024 2023 Earnings (loss) before interest and income taxes Precision Devices $ 4.3 $ 8.4 $ 4.2 $ (2.1) $ 3.4 MedTec
Slide 19: Reconciliation of Net Earnings to Adjusted EBITDA
RECONCILIATION OF NET EARNINGS TO ADJUSTED EBITDA Quarter Ended December 31, September 30, June 30, March 31, Trailing (Continuing operations, in millions) 2024 2024 2024 2024 12-months Net earnings (loss) $ 10.4 $ 9.2 $ 4.8 $ (1.0) $ 23.4 Interest expense, net 3.4 3.9 4.6 4.4 16.3 Provision for inc
Slide 20: Reconciliation of Net Debt
RECONCILIATION OF NET DEBT (in millions) December 31, 2024 Current maturities of long-term debt $ 68.5 Long-term debt 134.0 Total debt 202.5 Less: Cash and cash equivalents (130.1) Net debt $ 72.4 Net debt $ 72.4 Trailing 12 Month Adjusted EBITDA $ 128.5 Net debt leverage ratio 0.6 x 20
Slide 21: Reconciliation of Net Earnings to Adjusted EBITDA
RECONCILIATION OF NET EARNINGS TO ADJUSTED EBITDA Year Ended December 31, (Continuing operations, in millions) 2024 2023 2022 2021 2020 Net earnings (loss) $ 23.4 $ 65.6 $ 66.4 $ 98.4 $ (13.2) Interest expense, net 16.3 5.4 3.5 13.8 15.9 Provision for (benefit from) income taxes 11.3 (28.3) 21.3 (53
Slide 22: Thank you
hank you. « knowles