TTM Technologies (TTMI) Investor presentation summary

Business overview and strategy

• Operates as a leading technology solutions provider in mission systems, PCBs, and specialty components, serving advanced defense, cloud, AI, automotive, and industrial markets.

• Maintains a global footprint with 24 facilities and 15,775 employees, generating $2.2 billion in FY23 revenue.

• Focuses on differentiation through engineering depth, early customer engagement, and a broad technology suite, especially in aerospace, defense, and data center computing.

• Ongoing transformation includes divesting cyclical consumer businesses and investing in engineered solutions and new regions like Penang, Malaysia.

• Strategic priorities emphasize diversification, operational discipline, and cash flow generation.

Market positioning and growth drivers

• Aerospace & Defense accounted for 45% of FY23 net sales, with growth driven by increased use of AESA radar and military equipment builds.

• Data center computing and semiconductor development are also key growth areas, with above-market outlooks.

• Automotive, medical, industrial, and networking markets are targeted, though expected to grow below industry CAGRs.

• Supports over 200 programs for major OEMs and government customers, with a $1.49 billion program backlog in A&D.

• Commercial sector trends include the rise of IoE, EVs, factory automation, and AI-driven data center expansion.

Technology and operations

• Nearly half of Q3 2024 revenues come from designed and engineered products plus advanced technologies.

• Customer engagement spans from concept to production, enhancing market share and long-term relationships.

• Penang, Malaysia facility features advanced automation, sustainability, and 25% expansion capacity, with initial revenues already recorded.

• New $100M+ Ultra-HDI PCB facility in Syracuse, NY, to address U.S. defense demand, with production expected in 2026.

• Global operations include 12 North American and multiple Asian commercial plants, supporting a diversified footprint.