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Share Owners

Our financial results in fiscal year 2023 were record-setting and we continued to increase investor engagement with a proactive outreach campaign focused on expanding research coverage and increasing institutional investor awareness. Share Owners benefited with the share price appreciating 37.5% during the period.

On Wednesday, February 22, 2023, members of the extended leadership team and Board of Directors celebrated the retirement of Don Charron, former Chairman and CEO, and welcomed Ric Phillips as the new Chief Executive Officer, with a closing bell ceremony at Nasdaq.

Photography courtesy of Nasdaq, Inc.

$1,823M

Net Sales

↑35% YOY


4.8%

Operating Income*

↑90 BPS YOY


$2.23

Adjusted EPS

↑86% YOY

*Percent of net sales

Capital Allocation

Over the last three fiscal years, capital investments in facility expansions have added 370,000 sq. ft. of manufacturing floor space to our global footprint, representing a 38% increase in EMS capacity worldwide and supporting our growth in each of the three end vertical markets. This also positions the Company to reach, or exceed, the $2 billion milestone in annual sales.


ROIC

Photography courtesy of Nasdaq, Inc.

“Our capital allocation strategy remains focused on organic growth. We have a solid funnel of new business opportunities and additional capacity from our recent facility expansions in Thailand, Mexico, and Poland. Inventory is expected to normalize, as global supply chain disruptions ease, and the resulting cash flow generated will be directed toward reducing our leverage ratio.”

Jana T. Croom, Chief Financial Officer

Facility Expansion

Steve Korn, Chief Operating Officer, and members of the leadership team at our facility in Poznan, Poland, celebrate the completion of our most recent facility expansion with a ribbon cutting ceremony in June 2023. The expansion adds approximately 40% more capacity to the existing site and is reflective of our success in winning new business in Europe.

kimball electronics logo in the footer

World Headquarters
Kimball Electronics, Inc.
1205 Kimball Blvd.
Jasper, IN 47546

www.kimballelectronics.com

2023 Annual Report

Winning Together,
The Kimball Way