Vishay Intertechnology (VSH) Investor presentation summary

Transaction overview

• $750M offering on NYSE with a 15% over-allotment option, 100% primary shares.

• Proceeds intended for general corporate purposes, debt repayment, and growth acceleration.

• 60-day lock-up for company, directors, and executives; pricing expected June 29, settlement July 1.

• J.P. Morgan leads, with multiple co-managers and bookrunners.

Business overview and strategy

• Over 60 years of innovation, with 60 global facilities and a diversified manufacturing footprint.

• Supplies up to 80% of components for power applications on customer PC boards.

• Vishay 3.0 transformation focuses on capacity expansion, customer engagement, and intensified R&D.

• Positioned at the start of an industry up-cycle, targeting significant revenue and margin growth.

• Strategic growth levers include internal/external capacity, portfolio broadening, and enhanced channel management.

Financial performance and outlook

• Q1'26 revenue reached $839M, up 17% year-over-year; book-to-bill at 1.34, up 24%.

• Gross margin stable around 19.5-21% over the last four quarters.

• Adjusted EBITDA margin ranged from 8.3% to 9.6% in recent quarters.

• Over $900M capex planned for 2023-2025, mainly for capacity expansion.

• Net leverage ratio improved to 1.6x by Q1'26; liquidity remains strong with $724M available.