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Investor PresentationJune 2015
Risks and Non-GAAP Disclosures
This presentation contains forward-looking statements, which are based on current expectations and
assumptions that are subject to risks and uncertainties and actual results could materially differ. Such
information is subject to change and we undertake no obligation to update these forward-looking
statements. For a discussion of the risks and uncertainties, see our most recent filings with the Securities
and Exchange Commission, including our current, annual and quarterly reports.
If this presentation references non-GAAP financial measures, these measures are located on the “Investor
Relations” section of our website, www.flextronics.com along with the required reconciliation to the most
comparable GAAP financial measures.
Table of Contents
2
Cash Flow & Capital
Structure
Differentiated
StrategyIntro
Business
Groups
Latest Financial
Update
Why Invest in FLEX?
Our Improving Execution
Avg. World GDP Per
Capita
Opportunity is
Everywhere
World is Changing
Flextronics Platform
Visibility Into Strategies &
Innovation
Manufacturing
Technologies
Balanced Global
Manufacturing Footprint
3
4
5
7
8
10-13
14
15
16
Continued Portfolio
Evolution
Driving Operating Income
& Margin Expansion
Structured To Deliver
Earnings Growth
Consistent Portfolio
Strategy & Evolution
CTG Summary
CTG Pyramid
INS Summary
Converged Business
IEI Summary
IEI Results FY15
Key IEI Wins
HRS Summary
HRS Revenues &
Bookings
18
19
20
21
22
23
24
25
26
27
28
29
30
Driving Future Revenue
Growth
Strong Strategic
Relationships
HRS Automotive
Medical Technology
Wearable Technology
Connected Home
Open Innovation Platform
Strategy
Success With Disruptors
Is Evidenced In IPOs
Customer Innovation
Center (CIC)
Lab IX
Elementum
32
33
34
35
36
37
38
39
40
41
42-43
Return On Invested
Capital
Unwavering Shareholder
Return Commitment
Free Cash Flow
Generation
Balanced Capital
Structure
Selective M&A
Transactions
MCi Acquisition
45
46
47
48
49
50
Key FY15 Financial
Indicators
FY15 Highlights
Trended Quarterly IS
Highlights
Revenue by Business
Group
Key Commitments
Enabled by Consistent
Financial Principles
Answering the Challenge
of Today’s Market Place
52
53
54
55
56
57
Why Invest in FLEX?
Evolving our portfolio to provide more predictable
earnings and higher margin1
Committed to 5 - 10% annual net income growth2
Strong sustainable free cash flow3
Committed to return over 50% of annual free cash flow4
3
Our Improving Execution
Revenue($ in billions)
• Portfolio evolution
continues
• HRS business grew
25% in the last 2 years
• IEI business grew 19%
in the last 2 years
~$24B
~$26B
FY13 FY15
+11%
Adj. Operating Income ($ in millions)
• 2 year adjusted
operating profit
growth of 23%
• 8 consecutive
quarters of operating
margin expansion
$611
$751
FY13 FY15
+23%
• Adjusted net Income
growth of 15% in FY15
• Achieved record
annual adjusted EPS
$0.84
$1.08
FY13 FY15
+29%
Adj. EPS(per share)
Free Cash Flow
• Generated ~$2 billion
of free cash flow in the
last 3 years
• On track to achieve
5-year target by FY17
FY15FY13 FY17E
~$2B
5-Year Target
$3 - $4 Billion by FY17
4
100
1,000
10,000
Intelligence
Age™
152x every
years
Information
Age
252x every
years
Modern
Age
402x every
years
1750 1850 1970 2010
Average World GDP Per Capita($ USD)
Source: World Bank, Maddison Project, De Long- UC Berkeley
Industrial
Age
1002x every
years
By 2020, the Intelligence of Things™
will bring 50 billion connected devices
to market, creating a $7.1T in TAM.(versus an estimated 10 billion connected devices today)
IDC 2015
transportation
Potential
economic
impact in
2025
10-20% chronic
disease cost
reduction
$2 TRILLION
100% connected
device growth
$1 TRILLION
10-20% yield increase
in application
$100 BILLION
25% vehicle damage cost reduction
$200 BILLION
2.5-5% operating
cost savings
$500 BILLION
The Opportunity Is Everywhere
7*Source: McKinsey Global Institute
The World is Changing
Increased
RegionalizationGrowth of
Asian OEMs
Faster Product
Cycles
More Disruptive
Products
New Hardware
OEMs
Corporate Social
Environmental
Responsibility
Internet of Things
Supply Chain
Complexity
Innovation
on the Rise8
Expanding Total Available Market
9
Contract Manufacturing
(CM)
Electronics Manufacturing Services
(EMS)
End-to-End Supply Chain Solutions – Sketch to Scale
Revenue
$0 $5B $25B $30B $35B
TAM:
$524B
TAM:
$940BTAM:
$1T+
1993-2001 2001-2010 2010-Future
Operating Margin
We are Perfectly Positioned to Compete in This New World
10
Flextronics PlatformA Supply Chain Solutions Provider
Flextronics Platform
11
A Supply Chain Solutions Provider
Real-Time Information
to Run a Modern Supply
Chain
• Monitor the health of your
supply chain real-time
• Simultaneously launch new
products across multiple
continents
• Time-to-market advantages
from regionalized solutions
Flextronics Platform
12
Services That Enable a
Connected World
• Innovation that brings
products to market faster
• 2,500+ engineers enabling
technology innovation
• Global network of forward,
reverse and spare parts
logistics
A Supply Chain Solutions Provider
Flextronics Platform
13
Visibility into Strategies
and Innovation in Every
Industry
• ~$26 billion in sales in FY15
• Over 100 sites spanning 30
countries with a workforce of
~200,000
• ~52M square feet of
manufacturing and services
globally
• 6 Product Innovation
Centers and expanding
A Supply Chain Solutions Provider
Visibility into Strategies and Innovation In Every Industry
14
Healthcare
$2Billion
Automotive
$2Billion
Industrial
$1Billion
Home
Appliances
$1Billion
Capital
Equipment
$1Billion
Energy
$1Billion
Datacom
$3Billion
Telecom
$3Billion
Server/Storage
$3Billion
Wearables
$1Billion
Connected
Living
$1Billion
Smartphones
$3Billion
Differentiated Combination of Manufacturing Technologies
15
PowerFlexible & Rigid
Circuits
Machining
Precision Plastics EnclosuresAutomotive Technologies
Balanced Global Manufacturing Footprint
16
>70 Locations | ~25M Square Feet | ~200K Employees
Power
PCBA, Box Build, SI
Mechanicals
Aguascalientes, MX ●●
Althofen, Austria ●
Austin, TX ●●Dallas, TX ●
Fort Worth, TX ●Houston, TX ●
Batam, Indonesia ●
Cebu, Philippines ●●
Ashville, NC ●Charlotte, NC ●
Chengdu, China ●●
Chennai, India ●●●
Columbia, SC ●
Coopersville, MI ●
Cork, Ireland ●Limerick, Ireland ●
Dalingshan (Dongguan), China ●Qiaotou (Dongguan), China ●
Guadalajara, MX ●●
Huang Tian (Shenzhen), China ●●Gushu (Shenzhen), China ●Nanjing, China ●Shanghai, China ●Shenzhen, China ●Suzhou, China ●Wuzhong (Suzhou), China ●●●Zhuhai, China ●●
Ibaraki, Japan ●
Jaguariuna, Brazil ●
Juarez, MX ●●
Joo Koon Singapore ●●Kallang, Singapore ●
Manaus, Brazil ●●
Migdal Haemek, Israel ●Ofakim, Israel ●Yavne, Israel ●
Mukachevo, Ukraine ●
Northfield, MN ●
Penang, Malaysia ●●Port of Tanjong Pelepas (Johor), Malaysia ●Senai (Johor), Malaysia ●●Skudai (Johor), Malaysia ●
Ronneby, Sweden ●
Sarvar, Hungary ●●Tab, Hungary ●Zalaegerszeg, Hungary ●
Sorocaba, Brazil ●●
Taipei, Taiwan ●
Tczew, Poland ●●
Tianjin, China ●
Tijuana, MX ●●
Timisoara, Romania ●●
Toronto, Canada ●
Treviso, Italy ●
Valencia, CA ●
Zurich, Switzerland ●
Tempe, AZ ●
Buffalo Grove, IL ●
Manchester, CT ●
Sonderborg, Denmark ●
Business Groups
1. Fiscal 2020 target represents our targeted long-term model (double-digit HRS & IEI growth, INS stable, CTG growing in-line with GDP 2.5%)
Continued Portfolio Evolution
Target1
FY20E
~20% ~20%
~30%~30%
~40%
FY10
6%13%
42% 39%
19%
FY15
17% 14%
34%35%
31%
More predictable earnings and higher margins
HRS + IEI
$8.0BHRS + IEI
$4.5BHRS + IEI
~$13.0B
CTG INS HRS IEI
18
$228M
$132M
$257M
$218M
Corporate
Services & Other1 ($84M)
Total $751M
Driving Operating Income Expansion and Margin Expansion
191. Corporate services and other related to unallocated cost
FY15 Adjusted
Operating Income
HRS
IEI
CTG
INS
Target Adjusted
Operating Margin Range
2% 3%
4%
5%
6%
7%
4%3%
FY15 Adjusted
Operating Income
16%
27%
26%31%
CTG INS HRS IEI
43%
Structured to Deliver Earnings Growth
Target Model
Features
Target: Fiscal 2020 Potential
Operating Profit Contribution
Revenue
Growth
Operating
Margin
Double digit 5-7%
Double digit 4-6%
Stable 3-4%
Better mix 2-3%
HRS
IEI
CTG
INS
~30%~30%
~20% ~20%
~60%
CTG INS HRS IEI
20
Consistent Portfolio Strategy and Evolution
21
Fiscal2010
Fiscal2015
CTG INS HRS IEI
19%
6%13%
42%
39%
31%
17% 14%
34% 35%
More predictable earnings and higher margins
Fiscal2010
Fiscal2015
CTG INS HRS IEI
19%
6%13%
42%
39%
31%
17% 14%
34% 35%
• More diversified
• Accelerated time to market
• Co-innovation
• Visibility into future trends
Consumer Technology Group (CTG)
22
Mobile• Smart Phones
• Wireless Modules
• Headsets
• Portable Audio
Consumer • Game Consoles & Accessories
• Wearable Technology
• Smart Home Devices
• Home Entertainment Equipment
Computing• EMS Desktop / Notebook PCs
• Tablets
• Printers
$7,037
$9,358 $8,940
FY13 FY14 FY15
Revenue($ in millions)
CTG Pyramid: Balanced Portfolio
23
Operating
Profit
5+ %
2+ %
3-4 %
Customers
Added
33
3
6
STRATEGIC
CORE
ICE Aggressive
Moderate
Stable
* ICE (Innovative, Connected and Emerging Technologies) Strategic (Strategic Engagements) Core (Core Partnerships)
Fiscal2010
Fiscal2015
CTG INS HRS IEI
19%
6%13%
42%
39%
31%
17% 14%
34% 35%
• Stable revenue
• Strong operating cash flow
• Broad, deep market
penetration
Integrated Network Solutions (INS)
24
$9,935 $9,688 $9,191
FY13 FY14 FY15
Revenue($ in millions)
Communications 3G / 4G / LTE
Wireless
Wireline
Networking• Routing
• Switch
• SDN
• Optical
Server & Storage Converged: Compute/Storage &
Appliance/Security
Enterprise
Flash / Hybrid Storage
SSD
*Sample Customer Only
Converged $1 Billion Business
Example of Developing Customer Base
Example of Established Customer Base Converged
$1Billion
25
Fiscal2010
Fiscal2015
CTG INS HRS IEI
19%
6%13%
42%
39%
31%
17% 14%
34% 35%
• Double digit growth
• Massive TAM
• Expansion across new
industries
• Technology convergence
Industrial & Emerging Industries (IEI)
26
$3,763 $3,788
$4,459
FY13 FY14 FY15
Revenue($ in millions)
IndustrialAppliances
and Lifestyle
Self-Service/
Smart Retail
Capital
Equipment
Office
Solutions
Safety &
Security
Energy
and Metering
$4.46Brevenue in FY15 an
18%increase over
FY14
Increased from
7 to 13accounts with
>100M in revenue
23 accounts
with double digit growth
12 accounts
with triple digit growth
>$1.6Bof new
manufacturing business wins
44new accounts
185 new program
ramps
17%revenue
contribution to Flextronics
total business
IEI Results in FY15
On track for double digit growth in FY16
27
Key IEI Wins
28
>$1.6B in New Business Wins
~$380M in Innovation Driven Manufacturing Revenue
Fiscal2010
Fiscal2015
CTG INS HRS IEI
19%
6%13%
42%
39%
31%
17% 14%
34% 35%
• Double digit growth
• Longer product life cycles
• Significant barriers to entry
• Focused M&A
High Reliability Solutions (HRS)
29
$2,835$3,275 $3,557
FY13 FY14 FY15
Revenue($ in millions)
Automotive• Vehicle Electronics
• Connectivity
• Energy Management
Defense & Aerospace• Defense
• Civil Aviation
• Homeland Security
Medical• Consumer Health
• Drug Delivery
• Disposable Devices
• Medical Equipment
HRS Revenues and Bookings
FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18
~21%
10%+
Revenue Bookings
FY16 FY17 FY18
95%Booked
92%Booked
85%Booked
30
Differentiated Strategy
Positioned to Drive Future Revenue Growth
32
Non-traditional businessSignificant opportunities to grow
our market leading position
Strategic relationshipsPartnered across leading
customers in varied industries
InnovationDistinctly positioned as a product
innovation enabler
Partnering with
tomorrow’s disruptorsPowerful differentiation to create
future demand
Strong Strategic Relationships With Customers
33
30 years
15 years
Intense customer focus builds trust
and long-standing relationships
10 years
10 years
0 years
HRS Automotive: Flextronics Vehicle Electronics Solutions
34
Rear Compartment
• Center high mounted stop light
(CHMSL)
• Rear tail lamp PCBA
• LED Tail lamp/controller
• Power deck lift gate
• Rear camera
• Fuel pump controller
Engine & Powertrain
• Recuperation module
• DC/DC converter
• Electric Power steering controller
• High precision solenoid
• Wiring harness
• Battery cable
• Quasi diode/electronic relay
• Cooling fan controller
Infotainment & Connectivity
• Rear seat entertainment module
• Media interface module
• Sound & connect module
• Head unit
• Audio system
Instrument Panel
• Digital LCD gauge
• LED/RGB ambient lighting
Seats
• Power seat module
Overhead Systems
• Dome lamp
• Overhead console
• Sunroof controller
Front Lighting
• Front lamp PCBA
• Light control module
Doors
• Door control module – windows,
mirrors, locks
• Power sliding door module
• “Smart” mirror electronics
Remote systems
• Remote start antenna
• Key fob & keyless entry
Medical Technology
35
Diabetes Blood glucose meters
Insulin delivery systems and tubing sets
Dialysis disposables and equipment
CardiacDiagnostic catheters
Implantable heart monitoring systems
Cardiac rhythm monitoring
RespiratoryInhalers & Nebulizers
C-Pap
BrainNeuro-stimulation
Transdermal patch for migraines
OrthopedicsBlades and cutters
DiagnosticsBlood analyzers
Imaging
DermatologyWound management systems
Aesthetic care devices
MobilityHospital beds
Mobility systems
HearingCochlear implants
DentalHigh speed headpiece
PodiatricFoot ulcer system
Gel cushions
Hospital SuppliesIV pumps and tubing sets
Syringes
Blood collection devices
General Surgery Insufflation sets
Gastic bands
Surgical packs
Wearable TechnologyA New Market for Flextronics
Flextronics Capabilities
• Micro-electronics encapsulation
(flex circuits)
• Sensor Integration
• Optics (image capture)
• Smart Watch Packaging
(computing/mechanics)
• Bendable / Stretchable
Electronics
• Waterproofing
• Customization/Personalization
Tech.
Sectors We Support
• Sport & Fitness
• Wellness
• Image Capture
• Lifestyle Computing
• Entertainment
• Apparel & Fashion
• Personal Data Management
Smart Watches
Smart Glasses
Notification Sensors
Smart Fabrics
Smart Fitness Wristbands
Super Fitness Watches
Fitness Shoe Sensors
Smart Socks
Connected Home
37
Wearables /
Fitness Trackers
Energy Management /
Thermostats
Streaming
Video
and
IPTV
Smart
Home
Controllers
Streaming
Audio
Cloud
Analytics
Smart Sensors
and
Lighting Controls
Open Innovation Platform Strategy
38
Leverage validated technology building blocks and partner ecosystem
Sensors & Actuators
Open Innovation Platform
Lab IX/ Startups
InternalOEMs University Research Institutes
Government & Public
Innovation Services
ComputingBattery & Power
Mechanicals & Plastics
Smart Software
Human Machine Interface
Wireless & Connectivity
Value Engineering
Semiconductors Flexible Technologies
Technology Partners
Centers of Excellence
Aerospace & Defense
Automotive EnergyIndustrial Automation
Fitness & Medical
Consumer Electronics
Communications & Networking
Server & Storage
Markets & Products
The Success With Distributors Is Evidenced In IPOs
39
2010 2012 2013 2014
IPO Date: July 2012
Product: Security Appliances
Flextronics Exclusive
IPO Date: Sept 2013
Product: Security Appliances
Flextronics Exclusive
IPO Date: Dec 2013
Product: Converged Storage
Flextronics Exclusive
IPO Date: Nov 2009
Product: Security Appliances
IPO Date: May 2013
Product: Optical
Products & SDN
Flextronics Exclusive
IPO Date: April 2012
Product: Network Control
IPO Date: Sept 2013
Product: SSD Enterprise
Storage
IPO Date: Nov 2012
Product: Wireless
Networking
IPO Date: June 2014
Product: SDN Solutions
(Gigabit Ethernet Switches)
Innovation Services That Enable Disruption
40
Silicon Valley’s Customer Innovation CenterProduct Concept > Design & Engineering > Rapid Prototyping > Product Stabilization > Volume Production > Repair & Refurbish
Manufacturing
• Scalable
Manufacturing
• Procurement &
Sourcing
New Product
Introduction
• Prototype to
Product Launch
• 3D Printing
(plastic)
Confidential
Center
• Private &
Secure
Manufacturing
Room
Advanced
Engineering &
Robotics Labs
• Value Engineering
Services
• Manufacturing
Technology
Innovation
Lab IX
• Startup
hardware
Accelerator
• Business
Scaling
Resources
Global Services
• Forward &
Reverse
Logistics
• Vendor Managed
Inventory
Interconnect
Technology Center
• Multek (PCBs,
Flexible & Rigid)
• Advanced Printed
Circuits
• Integrated Design
Capabilities
Innovation Labs &
Design Center
• Technology Innovation &
Engineering
• Design for ‘X’ Services
• 3D Printing (metal)
Failure Analysis
Labs &
Mechanicals
• Materials
Characterization
• Sheet Metal
Manufacturing
System
Integration
• Configure to
Order
• Build to Order
WELCOME
CENTER
Lab IX: Current Portfolio
41
Elementum: Key Facts
42
• Flextronics began incubating Elementum in 2012
• Elementum is a majority-owned subsidiary of Flextronics
• Flextronics owns a majority of the outstanding equity and controls the board of directors
• Consolidated financials with Flextronics
• Elementum has over $60M in total funding
Outside investors:
• Lightspeed Venture Partners
• Dave Duffield (co-founder & co-CEO,
Workday)
• Aaron Levie (co-founder & CEO, Box)
• Jerry Yang (co-founder, Yahoo & founding
partner, AME Cloud Ventures)
• Mike Frandsen (VP of products, Workday)
• Jim Davidson (co-founder, Silver Lake
Partners)
Board of Directors:
• Mike McNamara (CEO, Flextronics),
• Nader Mikhail (founder & CEO,
Elementum),
• Chris Schaepe (founder & partner,
Lightspeed Venture Partners),
• Jim Davidson (co-founder, Silver Lake
Partners),
• Ray Bingham (Chairman of the Board,
Flextronics and former CEO, Cadence)
Advisory Board:• Dave Duffield (co-founder & co-CEO,
Workday)
• David Dibble (former EVP, Service
Engineering & Operations, Yahoo)
• David Henke (former SVP, Engineering &
Operations, LinkedIn)
• Aneel Bhusri (co-founder, chairman and
co-CEO, Workday)
Elementum: Real-time Solutions Improve Decision Making
43
Mobile software for end-to-end supply chain management
The Solution
• Perspective: Real-time
visibility
• Exposure: Risk management
• Transport: Shipment tracking
& carrier management
• Fulfillment: Order
collaboration
The Problem
• Poor visibility into the state of
operations
• Unclear which suppliers are at
risk and when
• Don’t know which shipments
are late until they don’t arrive
• It takes way too long to get
commitment on new or
changed orders from partners
Cash Flow Generation & Capital Structure
19.0%
22.1%
23.7%
FY13 FY14 FY15
Return on Invested Capital Guides Our Business
45
Return on Invested Capital1
(ROIC %)
• Improving earnings efficiency
• Disciplined capital deployment
• Internal target threshold stands at 20%
• ROIC well above WACC19%
22%
24%
1. Return on Invested Capital (ROIC) is calculated by dividing the Company's last twelve months after-tax Non-GAAP operating income by the net invested capital asset base as of each date. After-
tax non-GAAP operating income excludes charges for stock-based compensation expense and restructuring charges. The net invested capital asset base is defined as the sum of shareholders'
equity and net debt averaged over the last five quarters.
$400
$510
$322
$475$416
813757
684639
591563
FY10 FY11 FY12 FY13 FY14 FY15
Repurchased ($ millions)
Shares Outstanding
Unwavering Shareholder Return Commitment
46
Committed to returning over 50% of annual free cash flow to shareholders
In the last 5 Years, we have repurchased…
~ $2.1 Billion in stock
~ 297 Million shares
~ 31% of net shares outstanding
75%
63%
75%
% of Free Cash Flow
Returned to Shareholders
Share Repurchase($ in millions)
65Mshares
repurchased
82Mshares
repurchased
52Mshares
repurchased
60Mshares
repurchased
39Mshares
repurchased
$400
$510
$322
$475$416
1 YrFY15
3 YrFY13-15
5 YrFY11-15
$715M
$855M
$622M
$463M$416M
$680M $701M
$554M
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16E FY17E
Fundamentally Structured for Free Cash Flow Generation
$3 Billion Target
$3 - $4 Billion
Generating strong sustainable free cash flow to support our growth
$715M
$855M
$622M
$463M$416M
$680M $701M
$554M
Balanced Capital Structure
48
Debt Maturities ($ millions)
(Calendar Year)
2015 2016 2017 2018 2019 2020 2021 2022 2023
• Solid liquidity
• No near-term
maturities
• Low cost of debt ~3%
• Strong credit metrics
$3.1B
$1.5B
Revolver
$1.6B
Cash
Total Liquidity4.625%
Notes
5%
NotesTerm Loans
LIBOR + 150-162.5bps
$593
$475$500 $500
Selective M&A Transactions
Primarily focused on investing to expand our HRS capabilities
Reflects M&A transactions completed from FY13 to FY15, excludes OEM asset acquisitions
>$100M
1
Purchase Price $25-$100M
2 4
<$25M Key Criteria
Target capabilities
Strategic customers
Longer product lifecycles
Barriers to entry
Higher margins
EPS accretive
49
MCi Acquisition Meets Our Strategic and Financial Objectives
Hits our key M&A investment criteria
Compelling strategic rationale
Will not impact our shareholder return commitment
Solid financial framework• Strong growing revenue
• LTM €200M (USD$216M1), up 20%
• Positioned across all top 10 OEMs
• Over 90% of next 2 years of business booked
• Expand across FLEX business groups
• Accretive margin profile
• Well above HRS business margins
• Immediately accretive to EPS
• Greater than $0.01 per quarter
• Solid free cash flow generation
• Consideration of €457M (USD$494M1)
• Multiple attractive funding options
1. Based on exchange rate of Euro/USD $1.08 50
Latest Financial Update
Key FY15 Financial Indicators
52
Free cash
flow
$554M
SG&A
down
5%
Operating
profit up
13%
EPS
up
21%
ROIC
24%
Strong Financial Execution
Fiscal Year 2015 Highlights
53
Continuous
Improvement
8 consecutive
quarters of adjusted
operating margin
expansion, enabling
13% year over year
growth in adjusted
operating profit
Strong
Sustainable
Free Cash
Flow
Generated $554M
in free cash flow,
bringing three year
cumulative free
cash flow to nearly
$2B
Record
Adjusted
EPS
Record level at
$1.08, up 21%
from $0.89 a year
ago
Consistent
Shareholder
Return
Repurchased 39M
shares for $416M in
FY15, or 75% of free
cash flow, and 297M
shares for $2.1B
over the past five
fiscal years,
reducing net shares
outstanding by 31%
Trended Quarterly Financial Highlights
54
Return on Invested Capital(ROIC %)
22.1%
22.8%
23.3%
24.1%23.7%
Mar-14 Jun-14 Sep-14 Dec-14 Mar-15
Please refer to the Investor Relations section of our website which contain the reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures
$0.24 $0.25
$0.26
$0.30
$0.27
Mar-14 Jun-14 Sep-14 Dec-14 Mar-15
Adjusted Earnings Per Share (EPS)
6,724 6,643 6,529 7,025
5,952
5.8% 5.8% 5.8% 5.8%
6.4%
Mar-14 Jun-14 Sep-14 Dec-14 Mar-15
Adj. Gross Margin
Adjusted Operating Income ($ in millions)
182 183 183207
178
2.7% 2.8% 2.8%2.9%
3.0%
Mar-14 Jun-14 Sep-14 Dec-14 Mar-15
% Revenue
Revenue & Adjusted Gross Margin($ in millions)
Revenue by Business Group
55
35%
19%15%
31%
HRSIEI
CTG INS
Mar
2015
34%
($ in millions) Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 June-15E
Business Group $ $ $ $ $ Q/Q % Y/Y % Outlook (Q/Q)
INS $2,346 $2,440 $2,341 $2,358 $2,052 -13% -13% Up low single digit
CTG 2,510 2,222 2,210 2,647 1,861 -30% -26% Down mid single digit
IEI 1,021 1,125 1,097 1,106 1,132 2% 11% Up low single digit
HRS 847 856 881 914 907 -1% 7% Down low single digit
Total Revenue $6,724 $6,643 $6,529 $7,025 $5,952 -15% -11%
Certain prior quarter amounts have been recast to conform to current year presentation
Integrated Network Solutions(Telecom, Datacom, Server & Storage,
Converged Infrastructure)
Consumer Technology Group(Mobile, Consumer, Computing, Wearables,
Connected Living)
Industrial & Emerging Industries(Semiconductor & Capital Equipment, Office
Solutions & Industrial Automation, Test &
Measurement, Appliance & Lifestyle, Energy &
Metering, Lighting)
High Reliability Solutions(Automotive, Medical, Aerospace & Defense)
35%
15%13%
37% Mar
2014
28%
HRS IEI
CTG INS
Financial
Principles
Key Commitments Enabled by Consistent Financial Principles
56
Revenue
Growth
Operating
Profit Expansion
EPS
Accretion
Strong Cash
Flow Generation
Solid Capital
Structure
5-10% Annual
Net Income Growth
15%FY15
Return 50%+ of
Free Cash Flow
75%FY15
5-Year Free Cash Flow
Target $3 to $4 Billion (FY13-FY17)
$2Blast 3 fiscal years
Answering the Challenge of Today’s Market Place
57
Unwavering commitment to shareholder return
Portfolio evolution yields more predictable earnings and higher margins
Positioned to lead in the Intelligence Age™
Extremely strong market share in a broad set of industries
Thank You
investors.flextronics.com
For more information contact:Kevin Kessel Mary Lee
VP of Investor Relations Sr. Manager, Investor Relations
[email protected] [email protected]
(408) 576 - 7985 (408) 576 - 5167
