On this page of StockholderLetter.com we present the latest annual shareholder letter from CELESTICA INC — ticker symbol CLS. Reading current and past CLS letters to shareholders can bring important insights into the investment thesis.

 •  4/29/2025 Letter Continued (Full PDF)
 •  More "Business Services & Equipment" Category Stockholder Letters
 •  CLS Benford's Law Stock Score = 99

CLS Shareholder/Stockholder Letter Transcript:

FUTURE
FORWARD
2024 Letter to Shareholders

A Message from the CEO
Dear Shareholders,
This past year has been one of exceptional progress and momentum
for Celestica. We have strengthened our position in high-value markets,
delivered strong financial performance, and laid a solid foundation for
future growth.
Our 2024 financial performance was the strongest in our history with
$9.65 billion in revenue. We achieved solid operating margin and
earnings per share (EPS) under GAAP, and adjusted operating margin and
adjusted EPS under non-GAAP. These achievements are a testament to
the dedication of our talented teams, disciplined execution, strategic
investments and unwavering commitment to innovation.
Well-Positioned Across
our Segments
We continue to make excellent
progress on our long-term strategy,
as our mix increasingly shifts to
higher value business, including our
Hardware Platform Solutions (HPS)
portfolio and services offerings.
Our depth of capabilities allows us
to deliver innovative solutions that
enable our customers    success.
Connectivity and Cloud
Solutions (CCS)
The growth in our CCS
segment, which consists of our
Communications (networking) and
Enterprise (servers and storage) end
markets, is fueled by strong demand
from Hyperscaler customers, as they
scale their data center infrastructure
in support of the demand for artificial
intelligence (AI), machine learning,
and cloud computing services.
Our comprehensive design
and engineering capabilities
within our HPS business have
positioned us as a trusted partner
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CELESTICA
on engagements to build highly
customized, leading-edge platform
solutions for the data center.
Recently announced key wins
that we expect to ramp in the
coming years help to position us
as a leading provider of data center
platform solutions. We   re confident
that our current footprint and
planned capex investments can
accommodate the increased volume
from these new opportunities.
With an extensive Circular Services
offering, we also enable our
customers to extend product life
and quality, while realizing the
maximum lifetime value of their
products through sustainable IT
Asset Management and Disposition.
The innovation and growth of our
AI data center platforms, combined
with the exceptional execution of
our entire team, continue to drive
our strong performance. We believe
we are well positioned to maintain
this momentum in the years ahead.
Advanced Technology

Solutions (ATS)
We believe our ATS segment, which
consists of Aerospace and Defense,
Capital Equipment, HealthTech
and Industrial end markets, offers
strategic advantages and synergies
with the rest of our business.
Among these are diversification,
exposure to markets with powerful,
long-term market trends, and a
competitive environment that is
limited by strict regulatory hurdles
and capability requirements.
We strive to reinforce our
customers    trust by investing in
key capabilities and delivering
custom solutions, focusing on
engineering with the potential
for high-value manufacturing,
and managing the dynamic
macroeconomic environment.
Resilient and Strategic
Global Network
In a world marked by geopolitical
and macroeconomic uncertainty,
resilience and focus have never
been more important. Our ability to
navigate complexity has reinforced
our position as a trusted partner,
helping customers stay ahead
by anticipating their evolving
needs. Our purpose-built, global
network of sites, engineering
centers of excellence, and multinode design capabilities for
HPS provide the flexibility and
resilience they can rely on.
include investing to grow our
presence in key markets and with
strategic customers, as well as
enhancing our engineering and
operational capabilities. At the
same time, we are committed to
prudent financial management by
maintaining a strong balance sheet,
managing cash flow effectively, and
allocating our capital with discipline.
Our goal remains clear: to deliver
value for our customers by working
together to realize a future of
enormous possibility. Our success
is made possible by the entire
Celestica team and I would like to
thank them for their dedication
and commitment to excellence. To
our shareholders, I appreciate your
continued support and investment
in our company and look forward
to keeping you updated on our
progress throughout the year.
Sincerely,
Rob Mionis
President and CEO, Celestica
This past year, we continued
to invest in our global network
to support customer demand
in key geographies and we will
continue to do so in 2025.
Looking Ahead
We remain committed to executing
our strategic roadmaps, which
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 4/29/2025 Letter Continued (Full PDF)