Celestica to Hold Previously-Announced Virtual Investor Meeting Today
(All amounts in
Per share information based on diluted
shares outstanding unless otherwise noted.)
- Anticipated 2022 revenue of
- Anticipated 2022 non-IFRS Lifecycle Solutions revenue** growth of at least 10%
- Anticipated 2022 non-IFRS operating margin** of between 4% and 5%
- Targeting 2022 non-IFRS free cash flow** of at least
- Targeting 2022 non-IFRS adjusted earnings per share (EPS)** of between
- Annual non-IFRS adjusted EPS** growth objective through 2025 of 10%+
- Annual non-IFRS Lifecycle Solutions revenue** growth objective through 2025 of 10%+
- Long term-non-IFRS operating margin** objective of above 4%
- Targeting 2025 non-IFRS adjusted EPS** of
To participate in the conference call in listen-only mode, please dial (conference ID – 9060024)
- Participant Toll-Free Dial-In Number: (888) 440-2145
- Participant Toll Dial-In Number: (438) 803-0540
To ensure your participation, please call in approximately ten minutes prior to the scheduled start of the call. Analysts will have the opportunity for a Q&A with speakers following the formal remarks.
A webcast is also available at:
A recorded webcast will be available approximately two hours after completion of the call, and will remain available for 12 months thereafter. To access the recorded webcast visit www.celestica.com.
* Subject in all cases to the risks set forth in the Cautionary Note Regarding Forward-Looking Statements below, including, but not limited to, the impact of coronavirus 2019 disease and related mutations (COVID-19) and the constrained supply chain environment.
** Non-International Financial Reporting Standards (IFRS) financial measures (including ratios based on non-IFRS financial measures) do not have any standardized meanings prescribed by IFRS and therefore may not be comparable to similar financial measures presented by other public companies that use IFRS or
For more information, visit www.celestica.com.
Cautionary Note Regarding Forward-looking Statements
This press release contains forward-looking statements, including, without limitation, financial projections and guidance, as well as statements related to our targets, objectives, expectations and anticipated operating results. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “targets,” “plans,” “continues,” “project,” “potential,” “possible,” “contemplate,” “seek,” or similar expressions, or may employ such future or conditional verbs as “may,” “might,” “will,” “could,” “should,” or “would,” or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
Forward-looking statements are provided to assist readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements are not guarantees of future performance and are subject to risks that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among others, risks related to customer and segment concentration; price, margin pressures, and other competitive factors and adverse market conditions affecting, and the highly competitive nature of, the electronics manufacturing services (EMS) industry in general and our segments in particular (including the risk that anticipated market improvements do not materialize); delays in the delivery and availability of components, services and/or materials, as well as their costs and quality; challenges of replacing revenue from completed, lost or non-renewed programs or customer disengagements; our customers' ability to compete and succeed using our products and services; changes in our mix of customers and/or the types of products or services we provide, including negative impacts of higher concentrations of lower margin programs; managing changes in customer demand; rapidly evolving and changing technologies, and changes in our customers' business or outsourcing strategies; the cyclical and volatile nature of our semiconductor business; the expansion or consolidation of our operations; the inability to maintain adequate utilization of our workforce; defects or deficiencies in our products, services or designs; volatility in the commercial aerospace industry; integrating and achieving the anticipated benefits from acquisitions (including our acquisition of
The forward-looking statements contained in this press release are based on various assumptions, many of which involve factors that are beyond our control. Our material assumptions include continued growth (and recovery from adverse impacts due to COVID-19) in the broader economy, supporting the expected growth outlook in Celestica’s end markets; continued growth in the trend of manufacturing outsourcing from customers in diversified end markets, supporting the expected long-term growth of Celestica’s
All forward-looking statements attributable to us are expressly qualified by these cautionary statements.
Non-IFRS Financial Measures
The non-IFRS financial measures included in this press release are: non-IFRS operating margin, non-IFRS free cash flow, non-IFRS adjusted EPS, and non-IFRS Lifecycle Solutions revenue (each as defined below). These non-IFRS measures do not have any standardized meanings prescribed by IFRS and may not be comparable to similar measures presented by other public companies that use IFRS, or who report under
Management uses these measures to assess operating performance and the effective use and allocation of resources; to provide more meaningful period-to-period comparisons of operating results; and to enhance investors’ understanding of the core operating results of Celestica’s business. We believe investors use both IFRS and non-IFRS measures to assess management's past, current and future decisions associated with our priorities and our allocation of capital, as well as to analyze how our business operates in, or responds to, swings in economic cycles or to other events that impact our core operations.
We do not provide reconciliations for forward-looking non-IFRS financial measures, as we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of various events that have not yet occurred, are out of our control and/or cannot be reasonably predicted, and that would impact the most directly comparable forward-looking IFRS financial measure. For these same reasons, we are unable to address the probable significance of the unavailable information. Forward-looking non-IFRS financial measures may vary materially from the corresponding IFRS financial measures.
Lifecycle Solutions revenue is defined as the aggregate revenues of our ATS segment and our Hardware Platform Solutions business.
Non-IFRS operating margin is defined as non-IFRS operating earnings divided by revenue. Non-IFRS operating earnings is a non-IFRS financial measure and is defined as earnings (loss) before income taxes, Finance Costs (defined below), employee stock-based compensation expense, amortization of intangible assets (excluding computer software) and Other Charges (recoveries) (defined below).
Non-IFRS free cash flow is defined as cash provided by (used in) operations after the purchase of property, plant and equipment (net of proceeds from the sale of certain surplus equipment and property), lease payments and Finance Costs paid (excluding any debt issuance costs and when applicable, waiver fees related to our credit facility). We do not consider debt issuance costs or such waiver fees (when applicable) to be part of our ongoing financing expenses. As a result, these costs are excluded from total Finance Costs paid in our determination of non-IFRS free cash flow. Note, however, that non-IFRS free cash flow does not represent residual cash flow available to
Non-IFRS adjusted EPS is determined by dividing non-IFRS adjusted net earnings by the number of diluted weighted average shares outstanding. Non-IFRS adjusted net earnings is a non-IFRS financial measure and is defined as IFRS net earnings (loss) before employee stock-based compensation expense, amortization of intangible assets (excluding computer software), Other Charges (recoveries), and adjustments for taxes (representing the tax effects of our non-IFRS adjustments and non-core tax impacts (tax adjustments related to acquisitions, and certain other tax costs or recoveries related to restructuring actions or restructured sites)).
Finance Costs consist of interest expense and fees related to our credit facility (including debt issuance and related amortization costs), our interest rate swap agreements, our accounts receivable sales program and customer supplier financing programs, and interest expense on our lease obligations, net of interest income earned.
Other Charges (recoveries) consist of restructuring charges, net of recoveries, transition costs (costs related to, when applicable: the relocation of our
Acquisition Costs consist of acquisition-related consulting, transaction and integration costs, and charges or releases related to the remeasurement of indemnification assets or the release of indemnification or other liabilities recorded in connection with acquisitions.
Celestica Global Communications(416) 448-2200 email@example.com Celestica Investor Relations (416) 448-2211 firstname.lastname@example.org
Source: Celestica International LP