Celestica Announces Fourth Quarter 2021 Financial Results

TORONTO — Celestica Inc. (TSX: CLS) (NYSE: CLS), a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, today announced financial results for the quarter ended December 31, 2021 (Q4 2021)^†.

“Celestica’s solid performance in the fourth quarter capped a successful 2021 for our company. We returned to top-line year-over-year revenue growth, our non-IFRS operating margin* of 4.9% marked yet another record, our non-IFRS adjusted EPS* of $0.44 was our highest in more than 20 years, and we closed on our acquisition of PCI,” said Rob Mionis, President and CEO, Celestica. “Our results continue to affirm our confidence in our long-term strategy, the capabilities of our global team, and our optimism for 2022.”

“We enter 2022 with confidence that Celestica is well-positioned to be successful. Our focus is squarely on meeting our 2022 performance expectations while successfully managing the dynamic macro environment. Achievement of our 2022 outlook would represent new records for our non-IFRS adjusted EPS and non-IFRS operating margin, and we have every reason to believe that we will continue to deliver on our expectations in the coming year.”

Q4 2021 Highlights

• Key measures:
  • Revenue: $1.5 billion, increased 9% compared to $1.4 billion for the fourth quarter of 2020 (Q4 2020).
  • Operating margin (non-IFRS)*: 4.9%, compared to 3.6% for Q4 2020.
  • ATS segment revenue: increased 23% compared to Q4 2020; ATS segment margin was 5.6%, compared to 3.9% for Q4 2020.
  • CCS segment revenue: increased 1% compared to Q4 2020; CCS segment margin was 4.4%, compared to 3.4% for Q4 2020.
  • Adjusted EPS (non-IFRS)*: $0.44, compared to $0.26 for Q4 2020.
  • Adjusted return on invested capital (non-IFRS)*: 16.6%, compared to 12.4% for Q4 2020.
  • Free cash flow (non-IFRS)*: $35.6 million, compared to $18.5 million for Q4 2020.
• IFRS financial measures (directly comparable to non-IFRS measures above):
  • Earnings before income taxes as a percentage of revenue: 2.8%, compared to 1.9% for Q4 2020.
  • Earnings per share (EPS): $0.26, compared to $0.16 per share for Q4 2020.
  • Return on invested capital: 9.3%, compared to 6.6% for Q4 2020.
  • Cash provided by operations: $65.8 million, compared to $49.7 million for Q4 2020.