image
Industrials - Electrical Equipment & Parts - NYSE - US
$ 135.88
2.48 %
$ 51 B
Market Cap
90.59
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Jan, 18, 2025.

The intrinsic value of one VRT stock under the worst case scenario is HIDDEN Compared to the current market price of 136 USD, Vertiv Holdings Co is HIDDEN

This DCF valuation model was last updated on Jan, 18, 2025.

The intrinsic value of one VRT stock under the base case scenario is HIDDEN Compared to the current market price of 136 USD, Vertiv Holdings Co is HIDDEN

This DCF valuation model was last updated on Jan, 18, 2025.

The intrinsic value of one VRT stock under the best case scenario is HIDDEN Compared to the current market price of 136 USD, Vertiv Holdings Co is HIDDEN

2. FUNDAMENTAL ANALYSIS
FINANCIALS
6.86 B REVENUE
20.59%
872 M OPERATING INCOME
290.42%
460 M NET INCOME
500.78%
900 M OPERATING CASH FLOW
689.33%
-139 M INVESTING CASH FLOW
-24.09%
-248 M FINANCING CASH FLOW
-247.01%
2.07 B REVENUE
6.18%
372 M OPERATING INCOME
10.60%
177 M NET INCOME
-0.84%
378 M OPERATING CASH FLOW
-0.05%
-39.2 M INVESTING CASH FLOW
12.89%
-16.8 M FINANCING CASH FLOW
18.05%
Balance Sheet Vertiv Holdings Co
image
Current Assets 4 B
Cash & Short-Term Investments 780 M
Receivables 2.19 B
Other Current Assets 1.04 B
Non-Current Assets 4 B
Long-Term Investments 44.5 M
PP&E 734 M
Other Non-Current Assets 3.22 B
Current Liabilities 2.31 B
Accounts Payable 986 M
Short-Term Debt 64.7 M
Other Current Liabilities 1.25 B
Non-Current Liabilities 3.68 B
Long-Term Debt 3.06 B
Other Non-Current Liabilities 616 M
EFFICIENCY
Earnings Waterfall Vertiv Holdings Co
image
Revenue 6.86 B
Cost Of Revenue 4.46 B
Gross Profit 2.4 B
Operating Expenses 1.53 B
Operating Income 872 M
Other Expenses 412 M
Net Income 460 M
RATIOS
34.98% GROSS MARGIN
34.98%
12.71% OPERATING MARGIN
12.71%
6.71% NET MARGIN
6.71%
22.84% ROE
22.84%
5.75% ROA
5.75%
15.18% ROIC
15.18%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Vertiv Holdings Co
image
Net Income 460 M
Depreciation & Amortization 271 M
Capital Expenditures -135 M
Stock-Based Compensation 25 M
Change in Working Capital 66.7 M
Others 620 M
Free Cash Flow 766 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Vertiv Holdings Co
image
Wall Street analysts predict an average 1-year price target for VRT of $109 , with forecasts ranging from a low of $80 to a high of $155 .
VRT Lowest Price Target Wall Street Target
80 USD -41.12%
VRT Average Price Target Wall Street Target
109 USD -20.04%
VRT Highest Price Target Wall Street Target
155 USD 14.07%
4. DIVIDEND ANALYSIS
0.03% DIVIDEND YIELD
0.0375 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership Vertiv Holdings Co
image
Sold
0-3 MONTHS
294 M USD 8
3-6 MONTHS
3.59 M USD 1
6-9 MONTHS
545 M USD 4
9-12 MONTHS
25.5 M USD 2
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
Date Value Insider Amount Avg Price
1 month ago
Dec 02, 2024
Sell 5.07 M USD
Karlborg Anders
EVP, Man., Logistics and Op Ex
- 39339
128.98 USD
1 month ago
Nov 26, 2024
Sell 6.64 M USD
Liang Stephen
Chief Technology Officer & EVP
- 50774
130.79 USD
1 month ago
Nov 26, 2024
Sell 4.71 M USD
Liang Stephen
Chief Technology Officer & EVP
- 35845
131.46 USD
1 month ago
Nov 25, 2024
Sell 5.27 M USD
DOKKUM JAN VAN
Director
- 38647
136.391 USD
1 month ago
Nov 22, 2024
Sell 27.9 M USD
O' Doherty Philip
Managing Director, E+I
- 198830
140.509 USD
1 month ago
Nov 22, 2024
Sell 9.56 M USD
O' Doherty Philip
Managing Director, E+I
- 67650
141.2716 USD
1 month ago
Nov 25, 2024
Sell 2.61 M USD
O' Doherty Philip
Managing Director, E+I
- 18485
141.2266 USD
1 month ago
Nov 22, 2024
Sell 4.37 M USD
Sanghi Anand
Pres. Americas
- 30914
141.4618 USD
1 month ago
Nov 20, 2024
Sell 2.11 M USD
Haussler Jakki L.
Director
- 15347
137.3789 USD
1 month ago
Nov 20, 2024
Sell 4.68 M USD
REINEMUND STEVEN
Director
- 34661
135.0174 USD
1 month ago
Nov 20, 2024
Sell 5.47 M USD
REINEMUND STEVEN
Director
- 40233
136.0338 USD
1 month ago
Nov 20, 2024
Sell 815 K USD
REINEMUND STEVEN
Director
- 5947
137.0735 USD
1 month ago
Nov 20, 2024
Sell 2.68 M USD
REINEMUND STEVEN
Director
- 19159
140.0039 USD
1 month ago
Nov 20, 2024
Sell 52 M USD
O' Doherty Philip
Managing Director, E+I
- 378708
137.3044 USD
1 month ago
Nov 20, 2024
Sell 4.85 M USD
O' Doherty Philip
Managing Director, E+I
- 35102
138.2562 USD
1 month ago
Nov 20, 2024
Sell 1.08 M USD
O' Doherty Philip
Managing Director, E+I
- 7671
140.306 USD
1 month ago
Nov 20, 2024
Sell 1.82 M USD
O' Doherty Philip
Managing Director, E+I
- 12674
143.3058 USD
1 month ago
Nov 21, 2024
Sell 30.7 M USD
O' Doherty Philip
Managing Director, E+I
- 221163
138.8733 USD
1 month ago
Nov 21, 2024
Sell 6.18 M USD
O' Doherty Philip
Managing Director, E+I
- 44230
139.7062 USD
1 month ago
Nov 21, 2024
Sell 18.9 M USD
O' Doherty Philip
Managing Director, E+I
- 134149
140.8462 USD
1 month ago
Nov 21, 2024
Sell 29.1 M USD
O' Doherty Philip
Managing Director, E+I
- 205238
141.6085 USD
1 month ago
Nov 21, 2024
Sell 5.07 M USD
O' Doherty Philip
Managing Director, E+I
- 35505
142.6765 USD
1 month ago
Nov 21, 2024
Sell 55.1 M USD
O' Doherty Philip
Managing Director, E+I
- 382687
144.0217 USD
1 month ago
Nov 21, 2024
Sell 6.19 M USD
O' Doherty Philip
Managing Director, E+I
- 42873
144.4884 USD
2 months ago
Nov 19, 2024
Sell 1.76 K USD
Washington Robin L
Director
- 14
125.61 USD
2 months ago
Nov 19, 2024
Sell 83.3 K USD
Washington Robin L
Director
- 650
128.1338 USD
2 months ago
Nov 19, 2024
Sell 42.6 K USD
Washington Robin L
Director
- 327
130.3515 USD
2 months ago
Nov 19, 2024
Sell 45.5 K USD
Washington Robin L
Director
- 343
132.6176 USD
2 months ago
Nov 19, 2024
Sell 91.5 K USD
Washington Robin L
Director
- 683
134.0396 USD
2 months ago
Nov 19, 2024
Sell 120 K USD
Washington Robin L
Director
- 883
135.4847 USD
2 months ago
Nov 19, 2024
Sell 95.7 K USD
Washington Robin L
Director
- 701
136.5568 USD
2 months ago
Nov 19, 2024
Sell 96.8 K USD
Washington Robin L
Director
- 703
137.7667 USD
2 months ago
Nov 19, 2024
Sell 96.6 K USD
Washington Robin L
Director
- 696
138.7824 USD
4 months ago
Sep 03, 2024
Sell 1.01 M USD
Winther Karsten
President, EMEA
- 12886
78.08 USD
4 months ago
Sep 03, 2024
Sell 531 K USD
Winther Karsten
President, EMEA
- 6700
79.22 USD
4 months ago
Sep 03, 2024
Sell 521 K USD
Winther Karsten
President, EMEA
- 6500
80.12 USD
4 months ago
Sep 03, 2024
Sell 800 K USD
Winther Karsten
President, EMEA
- 9893
80.89 USD
4 months ago
Sep 03, 2024
Sell 736 K USD
Winther Karsten
President, EMEA
- 8945
82.25 USD
7 months ago
May 28, 2024
Sell 1.04 M USD
O' Doherty Philip
Managing Director, E+I
- 9529
109.3005 USD
7 months ago
May 23, 2024
Sell 21.6 M USD
O' Doherty Philip
Managing Director, E+I
- 212414
101.5058 USD
7 months ago
May 23, 2024
Sell 18.4 M USD
O' Doherty Philip
Managing Director, E+I
- 178257
103.1421 USD
7 months ago
May 23, 2024
Sell 72.7 M USD
O' Doherty Philip
Managing Director, E+I
- 698998
103.9406 USD
7 months ago
May 24, 2024
Sell 20.8 M USD
O' Doherty Philip
Managing Director, E+I
- 203075
102.6064 USD
7 months ago
May 24, 2024
Sell 52.8 M USD
O' Doherty Philip
Managing Director, E+I
- 510057
103.4507 USD
7 months ago
May 24, 2024
Sell 10.8 M USD
O' Doherty Philip
Managing Director, E+I
- 102797
104.8798 USD
7 months ago
May 24, 2024
Sell 7.97 M USD
O' Doherty Philip
Managing Director, E+I
- 75421
105.6801 USD
7 months ago
May 24, 2024
Sell 45.8 M USD
O' Doherty Philip
Managing Director, E+I
- 430396
106.4758 USD
7 months ago
May 24, 2024
Sell 2.19 M USD
O' Doherty Philip
Managing Director, E+I
- 20378
107.4671 USD
8 months ago
May 15, 2024
Sell 1.73 M USD
FRADIN ROGER
Director
- 16667
103.8645 USD
8 months ago
May 15, 2024
Sell 3.46 M USD
FRADIN ROGER
Director
- 33333
103.9118 USD
8 months ago
May 03, 2024
Sell 1.99 M USD
Karlborg Anders
EVP, Man., Logistics and Op Ex
- 21336
93.29 USD
8 months ago
May 03, 2024
Sell 2.22 M USD
Karlborg Anders
EVP, Man., Logistics and Op Ex
- 23560
94.11 USD
8 months ago
May 03, 2024
Sell 124 K USD
Karlborg Anders
EVP, Man., Logistics and Op Ex
- 1310
94.75 USD
8 months ago
May 04, 2024
Sell 63.1 K USD
Cui Yibin Edward
President - Greater China
- 668
94.39 USD
8 months ago
Apr 26, 2024
Sell 45.8 M USD
O' Doherty Philip
Managing Director, E+I
- 488405
93.6826 USD
8 months ago
Apr 26, 2024
Sell 28.4 K USD
O' Doherty Philip
Managing Director, E+I
- 300
94.515 USD
8 months ago
Apr 29, 2024
Sell 204 M USD
O' Doherty Philip
Managing Director, E+I
- 2179609
93.5136 USD
8 months ago
Apr 29, 2024
Sell 31.3 M USD
O' Doherty Philip
Managing Director, E+I
- 331686
94.436 USD
10 months ago
Mar 08, 2024
Sell 1.52 M USD
Cripps Scott
Chief Accounting Officer
- 21558
70.33 USD
10 months ago
Mar 08, 2024
Sell 2.32 M USD
Cripps Scott
Chief Accounting Officer
- 32736
70.98 USD
10 months ago
Mar 08, 2024
Sell 165 K USD
Cripps Scott
Chief Accounting Officer
- 2300
71.78 USD
10 months ago
Mar 01, 2024
Sell 2.89 M USD
Liang Stephen
Chief Technology Officer & EVP
- 41250
70.01 USD
10 months ago
Mar 01, 2024
Sell 7.08 M USD
Liang Stephen
Chief Technology Officer & EVP
- 101047
70.1 USD
10 months ago
Mar 01, 2024
Sell 10.2 M USD
Liang Stephen
Chief Technology Officer & EVP
- 144927
70.36 USD
10 months ago
Mar 01, 2024
Sell 1.34 M USD
Liang Stephen
Chief Technology Officer & EVP
- 18962
70.54 USD
10 months ago
Mar 01, 2024
Sell 704 USD
Liang Stephen
Chief Technology Officer & EVP
- 10
70.44 USD
1 year ago
Sep 08, 2023
Sell 375 M USD
VPE Holdings, LLC
Director
- 10000000
37.5 USD
1 year ago
Sep 07, 2023
Sell 126 K USD
Cripps Scott
Chief Accounting Officer
- 3334
37.87 USD
1 year ago
Sep 07, 2023
Sell 1.26 M USD
Cripps Scott
Chief Accounting Officer
- 32674
38.53 USD
1 year ago
Aug 09, 2023
Sell 698 M USD
VPE Holdings, LLC
Director
- 20000000
34.91 USD
1 year ago
Aug 02, 2023
Sell 52 M USD
O' Doherty Philip
Managing Director, E+I
- 1572091
33.07 USD
1 year ago
Aug 02, 2023
Sell 11.6 M USD
O' Doherty Philip
Managing Director, E+I
- 344733
33.62 USD
1 year ago
Jul 13, 2023
Sell 3.7 M USD
O' Doherty Philip
Managing Director, E+I
- 137206
27 USD
1 year ago
Jun 29, 2023
Sell 45.6 M USD
O' Doherty Philip
Managing Director, E+I
- 1897146
24.02 USD
1 year ago
Jun 26, 2023
Sell 3.13 M USD
O' Doherty Philip
Managing Director, E+I
- 130008
24.07 USD
1 year ago
Jun 27, 2023
Sell 645 K USD
O' Doherty Philip
Managing Director, E+I
- 26876
24 USD
1 year ago
Jun 07, 2023
Sell 705 K USD
Liang Stephen
CTO & EVP, Infra. & Solutions
- 35001
20.15 USD
1 year ago
Jun 07, 2023
Sell 12.2 USD
Liang Stephen
CTO & EVP, Infra. & Solutions
- 0.604
20.17 USD
1 year ago
Jun 09, 2023
Bought 741 K USD
Liang Stephen
CTO & EVP, Infra. & Solutions
+ 35001
21.18 USD
1 year ago
Jun 08, 2023
Sell 756 K USD
Liang Stephen
CTO & EVP, Infra. & Solutions
- 37062
20.4 USD
1 year ago
Jun 09, 2023
Sell 742 K USD
Liang Stephen
CTO & EVP, Infra. & Solutions
- 35018
21.19 USD
1 year ago
Jun 05, 2023
Sell 4.74 M USD
O' Doherty Philip
Managing Director, E+I
- 236132
20.06 USD
1 year ago
Jun 06, 2023
Sell 13.6 M USD
O' Doherty Philip
Managing Director, E+I
- 673868
20.13 USD
1 year ago
May 30, 2023
Sell 23.1 M USD
O' Doherty Philip
Managing Director, E+I
- 1144030
20.16 USD
2 years ago
Nov 03, 2022
Bought 1 M USD
DEANGELO JOSEPH J
Director
+ 71600
13.99 USD
2 years ago
Mar 18, 2022
Bought 175 K USD
Fallon David Joseph
director: Chief Financial Officer
+ 13000
13.47 USD
2 years ago
Mar 16, 2022
Bought 186 K USD
Johnson Patrick R.
director: ExVP Integrated Rack Solutions
+ 15000
12.39 USD
2 years ago
Mar 03, 2022
Bought 115 K USD
Johnson Patrick R.
EVP-Integrated Rack Systems
+ 10000
11.5 USD
2 years ago
Feb 25, 2022
Sell 1.28 M USD
Johnson Robert Joseph
Chief Executive Officer
- 100000
12.77 USD
3 years ago
Nov 09, 2021
Bought 24.9 K USD
MONSER EDWARD L
Director
+ 918
27.15 USD
3 years ago
Nov 04, 2021
Sell 544 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 21925000
24.8257 USD
3 years ago
Nov 04, 2021
Sell 544 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 21925000
24.8257 USD
3 years ago
Nov 04, 2021
Sell 544 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 21925000
24.8257 USD
3 years ago
Mar 01, 2021
Sell 350 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 17381740
20.1451 USD
3 years ago
Mar 01, 2021
Sell 350 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 17381740
20.1451 USD
4 years ago
Nov 17, 2020
Sell 302 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 18000000
16.7527 USD
4 years ago
Nov 17, 2020
Sell 302 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 18000000
16.7527 USD
4 years ago
Aug 17, 2020
Sell 351 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 23000000
15.25 USD
4 years ago
Aug 17, 2020
Sell 351 M USD
VPE Holdings, LLC
director, 10 percent owner:
- 23000000
15.25 USD
4 years ago
May 08, 2020
Bought 491 K USD
MONSER EDWARD L
Director
+ 44000
11.17 USD
4 years ago
May 07, 2020
Bought 509 K USD
Flannery Colin
General Counsel & Secretary
+ 45450
11.19 USD
6 years ago
Jun 27, 2018
Bought 2.05 K USD
GSAM Holdings LLC
10 percent owner
+ 200
10.25 USD
6 years ago
Jun 08, 2018
Sell 304 K USD
GSAM Holdings LLC
10 percent owner
- 29700
10.2195 USD
6 years ago
Jun 08, 2018
Bought 96.4 K USD
GSAM Holdings LLC
10 percent owner
+ 9500
10.1504 USD
6 years ago
Jun 08, 2018
Sell 301 K USD
GSAM Holdings LLC
10 percent owner
- 29500
10.2196 USD
6 years ago
Jun 12, 2018
Bought 204 K USD
GSAM Holdings LLC
10 percent owner
+ 20000
10.2 USD
6 years ago
Jun 08, 2018
Bought 200 K USD
ALBAUGH JAMES F
Director
+ 20000
10 USD
6 years ago
Jun 08, 2018
Bought 1 M USD
FRADIN ROGER
Director
+ 100000
10 USD
6 years ago
Jun 08, 2018
Bought 1 M USD
REINEMUND STEVEN
Director
+ 100000
10 USD
7. News
Committee Stocks on the Move: Uber, Disney and Vertiv The Investment Committee discuss some of their stocks that are on the move today and how they're trading the names from here. youtube.com - 1 week ago
3 Technology Investing Trends for 2025 As we enter 2025, the pace of technological innovation continues to accelerate, creating lucrative opportunities for savvy investors. Three key trends are reshaping the landscape: the rapid expansion of data centers, the transformative potential of digital assets, and the groundbreaking advances in quantum computing. zacks.com - 1 week ago
VRT Jumps 36% in 6 Months: How Should You Approach the Stock in 2025? Vertiv's strong portfolio & rich partnerships are driving growth, but fierce competition, inflation, and valuation concerns demand a cautious approach in 2025. zacks.com - 1 week ago
Vertiv Holdings initiated with an Equal-Weight at Fox Advisors Fox Advisors initiated coverage of Vertiv Holdings with an Equal-Weight rating. The firm sees Vertiv continuing to be well positioned to capitalize on the rising power and thermal management complexities of next generation data. https://thefly.com - 1 week ago
Investors Heavily Search Vertiv Holdings Co. (VRT): Here is What You Need to Know Vertiv (VRT) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects. zacks.com - 2 weeks ago
Vertiv Holdings Co. (VRT) Advances While Market Declines: Some Information for Investors Vertiv Holdings Co. (VRT) closed at $118.88 in the latest trading session, marking a +0.12% move from the prior day. zacks.com - 3 weeks ago
Vertiv (VRT) Is Considered a Good Investment by Brokers: Is That True? Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter? zacks.com - 3 weeks ago
Vertiv's AI-Driven Growth: A Winning Stock For 2025 Vertiv's AI-Driven Growth: A Winning Stock For 2025 seekingalpha.com - 3 weeks ago
Christmas Dip: 3 Top Ranked Stocks to Buy Now (TSLA, VRT, PLTR) The markets experienced significant volatility this week, with stock indexes dropping as much as 5% from their recent highs in rapid fashion. While these sharp price moves rattled some investors, they might actually be the holiday gift savvy buyers didn't know they needed. zacks.com - 4 weeks ago
4 Top-Ranked Stocks That are Better Bets Than Cryptocurrencies in 2025 Despite crypto's boom, its volatility is a risk. Here's a sneak peek into four stocks NVDIA, APP, VRT and SMTC, which are better bets than crypto. zacks.com - 4 weeks ago
Vertiv Acquires Centrifugal Chiller Technology to Broaden its Global Solutions Portfolio in Support of High-Performance Compute and AI COLUMBUS, Ohio--(BUSINESS WIRE)--Vertiv (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today announced the acquisition by its Chinese subsidiary of certain assets and technologies of BiXin Energy Technology (Suzhou) Co., Ltd (BSE), a manufacturer of chillers, heat pumps, heat-recovery solutions and air-handling units. Focused on expanding the Vertiv chiller family, the acquisition strengthens Vertiv's portfolio of critical technologies and solutions. businesswire.com - 1 month ago
Here is What to Know Beyond Why Vertiv Holdings Co. (VRT) is a Trending Stock Zacks.com users have recently been watching Vertiv (VRT) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects. zacks.com - 1 month ago
8. Profile Summary

Vertiv Holdings Co VRT

image
COUNTRY US
INDUSTRY Electrical Equipment & Parts
MARKET CAP $ 51 B
Dividend Yield 0.03%
Description Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. It offers AC and DC power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure that are integral to the technologies used for various services, including e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming. The company also provides lifecycle management services, predictive analytics, and professional services for deploying, maintaining, and optimizing its products and their related systems; and preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and critical digital infrastructure software services. It offers its products primarily under the Liebert, NetSure, Geist, E&I, Powerbar, and Avocent brands. The company serves social media, financial services, healthcare, transportation, retail, education, and government industries through a network of direct sales professionals, independent sales representatives, channel partners, and original equipment manufacturers in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Vertiv Holdings Co is headquartered in Columbus, Ohio.
Contact 1050 Dearborn Drive, Columbus, OH, 43085 https://www.vertiv.com
IPO Date Aug. 2, 2018
Employees 27000
Officers Mr. Anand Sanghi President of Americas Mr. Eric M. Johnson Chief Accounting Officer Mr. Stephen Liang Chief Technology Officer & Executive Vice President Ms. Sheryl Haislet Chief Information Officer Mr. Frank Poncheri Chief Human Resources Officer Mr. David J. Fallon CPA Chief Financial Officer Mr. David M. Cote Executive Chairman Mr. Anders Karlborg Executive Vice President of Manufacturing, Logistics and Operational Excellence Mr. Giordano Albertazzi Chief Executive Officer & Director Ms. Stephanie L. Gill Esq. Chief Legal Counsel & Corporate Secretary