GNTX
GROWTH OVER MARKET
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
1
O C T 2 5 , 2 0 2 4
2023 PERFORMANCE
$2.3B
$266.9M
$183.7M
Revenue
Operating Expenses
Capital Expenditures
(E, R&D and S, G&A)
33.2%
15.2%
$93.6M
Gross Margin
Depreciation &
Performance
Annual Tax Rate
Amortization
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
3
O C T 2 5 , 2 0 2 4
2024 GUIDANCE
Updated Oct 25, 2024
$2.35 - 2.4B
15 - 15.5%
Revenue
Annual Tax Rate
33.5 - 34%
$150 - 175M
Gross Margin
Capital Expenditures
$295 - 305M
$90 - 95M
Operating Expenses
Depreciation
(E, R&D and S, G&A)
& Amortization
2025 GUIDANCE
Updated Oct 25, 2024
$2.45 - $2.55B Revenue
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
4
O C T 2 5 , 2 0 2 4
BUSINESS ENVIRONMENT IN FLUX
-Light vehicle production declines -Chip shortage
-Supply chain issues -Record inflation -Labor shortage
Global Light Vehicle Volumes
Component +
Component +
Labor Shortages
Labor Shortages
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
5
O C T 2 5 , 2 0 2 4
GROWTH THROUGH FEATURES AND VEHICLE CONTENT
2017 95M Vehicles
2023
89.8M Vehicles
2024
88.5M Vehicles
$1.79B Revenue
$2.3B Revenue
$2.35-2.4B Revenue
Global LVP
Revenues
100,000,000
$2,500,000,000
90,000,000
80,000,000
$2,000,000,000
70,000,000
60,000,000
$1,500,000,000
50,000,000
40,000,000
$1,000,000,000
30,000,000
20,000,000
$500,000,000
10,000,000
-
$0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
Light Vehicle Production
Revenue
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
6
O C T
2 5 , 2 0 2 4
IEC AND OEC - DEVELOPING OUR MARKET
Mirror Volume
35,000,000
30,000,000
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
-
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
IEC
OEC
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
7
O C T
2 5 ,
2 0 2 4
MARKETSHARE OVER TIME
-Product portfolio - advanced features help "pull" EC onto new vehicles
100%
Market share % of EC Mirror Market
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
8
O C T 2 5 , 2 0 2 4
FDM GAINS
FDM Volume
3000000
2500000
2000000
1500000
1000000
500000
0
2015
2016
2017
2018
2019
2020
2021
2022
2023
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
9
O C T 2 5 , 2 0 2 4
CAPITAL ALLOCATION STRATEGY
-Capital Expenditures
-Dividends - $.48 per share annually
-M&A
-Share Repurchases
G E N T E X Q 3 2 0 2 4 I N V E S T O R P R E S E N T A T I O N
1 0
O C T 2 5 , 2 0 2 4
Disclaimer
Gentex Corporation published this content on November 01, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 01, 2024 at 21:49:57.523.