Bel Fuse (BELFB) Investor presentation summary

Company overview and market position

• Headquartered in West Orange, NJ, with annual sales of $675M and adjusted EBITDA of $143M (21.2% margin).

• Listed on NASDAQ under BELFA/BELFB, recognized among America's most successful small companies in 2026.

• Diverse end markets: networking (27%), industrial (38%), aerospace/defense (22%), and others.

• Major customers include Raytheon, Lockheed Martin, Alstom, Cisco, DellEMC, Boeing, and John Deere.

• Product groups span power solutions, connectivity, and magnetic solutions, serving OEMs, distributors, and contract manufacturers.

Segment performance and financial transformation

• Power Solutions & Protection, Connectivity, and Magnetic Solutions each serve multiple end markets, with strong presence in aerospace/defense and networking.

• Revenue and gross margin have grown steadily from 2019 to 2025, with 2024 pro forma including the Enercon acquisition.

• Adjusted EBITDA increased from $45.5M (2021) to $142.9M (2025), with gross margin rising from 24.7% to 39.1%.

• Net leverage reduced from 2.1x (2021) to 0.14x (2025), with improved liquidity and inventory turns.

Strategic initiatives and leadership changes

• Significant transformation since 2021: new CFO, pricing strategies, ERP implementation, facility consolidations, and Enercon acquisition.

• CEO transition in May 2025, with Farouq Tuweiq appointed CEO and Lynn Hutkin as CFO.

• Strengthened executive team with new leaders in sales, operations, ESG, and product divisions.