CELESTICA INC. Files 20-F Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>CELESTICA INC. has filed its 2023 annual report on Form 20-F, detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

CELESTICA INC (CLS) filed a Foreign Annual Report (20-F) with the SEC on March 11, 2024. CELESTICA INC. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 5140 Yonge Street, Suite 1900, Toronto, Ontario, M2N 6L7. The SIC code for CELESTICA INC. is 3672, which corresponds to Printed Circuit Boards. The filing was made on March 11, 2024.

Why It Matters

For investors and stakeholders tracking CELESTICA INC, this filing contains several important signals. This 20-F filing provides a comprehensive overview of Celestica's financial health, operational performance, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's value and future prospects. As a public document filed with the SEC, this report ensures transparency and provides stakeholders with the necessary information to make informed investment decisions regarding Celestica Inc.

Risk Assessment

Risk Level: low — CELESTICA INC shows low risk based on this filing. The risk is low as this is a standard annual filing providing historical financial information and does not contain new material events or significant negative indicators.

Analyst Insight

Review the detailed financial statements and management discussion within the 20-F to understand Celestica Inc.'s performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (The report covers the period ending on this date.)
• 2024-03-11 — Filing Date (The date the 20-F report was submitted to the SEC.)
• 3672 — SIC Code (Standard Industrial Classification for Printed Circuit Boards.)

Key Players & Entities

• CELESTICA INC (company) — Filer of the 20-F report
• 2024-03-11 (date) — Filing date of the report
• 2023-12-31 (date) — Fiscal year end date
• 5140 Yonge Street, Suite 1900, Toronto, Ontario, M2N 6L7 (address) — Business and mailing address of the company
• 3672 (industry_code) — Standard Industrial Classification code for Printed Circuit Boards
• 0001030894 (cik) — Central Index Key for CELESTICA INC

FAQ

Industry Context

Celestica Inc. operates in the electronics manufacturing services (EMS) industry, providing a broad range of manufacturing and supply chain solutions.

Regulatory Implications

As a foreign private issuer, Celestica Inc. files annual reports on Form 20-F with the U.S. Securities and Exchange Commission (SEC), which are subject to specific disclosure requirements under U.S. securities laws.

What Investors Should Do

1. Analyze the financial statements and management's discussion and analysis (MD&A) for the fiscal year ended December 31, 2023.
2. Review any disclosed risk factors or legal proceedings to understand potential challenges.
3. Compare key financial metrics with previous years to identify trends and assess performance.

Key Dates

• 2024-03-11: Filing Date — Submission of the annual 20-F report for the fiscal year 2023.
• 2023-12-31: Fiscal Year End — End of the reporting period covered by the 20-F.

Year-Over-Year Comparison

This filing represents the annual update for the fiscal year 2023, providing the latest financial and operational data compared to previous filings.

Key Financial Figures

• $1.00 — the average daily exchange rate was U.S.$1.00 = C$1.3494. Note that use of the word "
• $1.3494 — ge daily exchange rate was U.S.$1.00 = C$1.3494. Note that use of the word "including"

Filing Documents

• cls-20231231.htm (20-F) — 4862KB
• exhibit232023.htm (EX-2.3) — 40KB
• exhibit4182023.htm (EX-4.18) — 2043KB
• exhibit4192023.htm (EX-4.19) — 1917KB
• exhibit812023.htm (EX-8.1) — 4KB
• exhibit1212023.htm (EX-12.1) — 11KB
• exhibit1222023.htm (EX-12.2) — 12KB
• exhibit1312023.htm (EX-13.1) — 5KB
• exhibit1512023.htm (EX-15.1) — 9KB
• exhibit9712023.htm (EX-97.1) — 34KB
• cls-20231231_g1.jpg (GRAPHIC) — 82KB
• cls-20231231_g10.jpg (GRAPHIC) — 50KB
• cls-20231231_g11.jpg (GRAPHIC) — 85KB
• cls-20231231_g2.jpg (GRAPHIC) — 50KB
• cls-20231231_g3.jpg (GRAPHIC) — 11KB
• cls-20231231_g4.jpg (GRAPHIC) — 29KB
• cls-20231231_g5.jpg (GRAPHIC) — 10KB
• cls-20231231_g6.jpg (GRAPHIC) — 8KB
• cls-20231231_g7.jpg (GRAPHIC) — 112KB
• cls-20231231_g8.jpg (GRAPHIC) — 33KB
• cls-20231231_g9.gif (GRAPHIC) — 4KB
• kpmga06.jpg (GRAPHIC) — 43KB
• 0001030894-24-000009.txt (&nbsp;) — 24838KB
• cls-20231231.xsd (EX-101.SCH) — 167KB
• cls-20231231_cal.xml (EX-101.CAL) — 101KB
• cls-20231231_def.xml (EX-101.DEF) — 799KB
• cls-20231231_lab.xml (EX-101.LAB) — 1262KB
• cls-20231231_pre.xml (EX-101.PRE) — 1026KB
• cls-20231231_htm.xml (XML) — 3166KB

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 153 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 156 A. Debt Securities 156 B. Warrants and Rights 156 C. Other Securities 156 D. American Depositary Shares 156 Part II. 156 Item 13. Defaults, Dividend Arrearages and Delinquencies 156 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 156 Item 15.

Controls and Procedures

Controls and Procedures 157 Item 16. [Reserved] 157 Item 16A. Audit Committee Financial Expert 157 Item 16B. Code of Ethics 157 Item 16C. Principal Accountant Fees and Services 157 Item 16D. Exemptions from the Listing Standards for Audit Committees 158 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 159 Item 16F. Change in Registrant's Certifying Accountant 159 Item 16G. Corporate Governance 160 Item 16H. Mine Safety Disclosure 160 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 160 Item 16J. Insider Trading Policies 160 Item 16K. Cybersecurity 160 Part III. 162 Item 17.

Financial Statements

Financial Statements 162 Item 18.

Financial Statements

Financial Statements 163 Item 19. Exhibits 164 ii Part I. In this Annual Report on Form 20-F for the year ended December 31, 2023 (referred to herein as "this Annual Report"), "Celestica," the "Corporation," the "Company," "we," "us" and "our" refer to Celestica Inc. and its subsidiaries. In this Annual Report, the United States is referred to as the "U.S." Unless we indicate otherwise: (i) all dollar amounts are expressed in U.S. dollars; (ii) all references to "U.S.

Forward-Looking Statements and Risk Factor Summary

Forward-Looking Statements and Risk Factor Summary Item 3(D), "Key Information — Risk Factors," Item 4, "Information on the Company," Item 5, "Operating and Financial Review and Prospects" and other sections of this Annual Report contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, or the U.S. Securities Act, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, or the U.S. Exchange Act, and forward-looking information within the meaning of applicable Canadian securities laws (collectively, forward-looking statements), including, without limitation, statements related to: our priorities, intended areas of focus, targets, objectives and goals (including, but not limited to, those set forth under the caption "Celestica's Strategy" in Item 4(B), the captions "Operating Goals and Priorities" and "Our Strategy" in Item 5, "Operating and Financial Review and Prospects," and the objectives described in Item 16K, "Cybersecurity"); trends in the electronics manufacturing services (EMS) industry and our segments (and/or their constituent businesses), and their anticipated impact; the anticipated impact of current market conditions on each of our segments (and/or their constituent businesses) and near-term expectations; anticipated and potential restructuring and potential divestiture actions; our anticipated financial and/or operating results and outlook; our expectations with respect to insurance recoveries for tangible losses in connection with a 2022 fire at our Batam facility in Indonesia (Batam Fire); our strategies; our credit risk; the potential impact of acquisitions, or program wins, transfers, losses or disengagements; materials, component and supply chain constraints; coronavirus disease 2019 (COVID-19) resurgences or mutations; shipping delays; anticipated expenses, capital expenditures and other working capital requirements and contractual obligations (and intended methods of funding

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors Each of the following risk factors, or any combination of them, could have a material adverse effect on our business, financial condition, and/or operating results. Our shareholders and prospective investors should carefully consider each of the following risks and all of the other information set forth in this Annual Report. We are dependent on a limited number of customers and end markets. A decline in revenue from, or the loss of, any significant customer, could have a material adverse effect on our financial condition and operating results. We depend upon a small number of customers for a substantial portion of our revenue. Our top 10 customers represented 64% of our total revenue in 2023 (each of 2022 and 2021 — 66%). We also remain dependent upon revenue from our Connectivity and Cloud Solutions (CCS) segment, which represented 58% of our consolidated revenue in 2023 (each of 2022 and 2021 — 59%). Notwithstanding the expansion of our Advanced Technology Solutions (ATS) segment and growth in our Hardware Platform Solutions (HPS) business and high-value EMS programs (including with hyperscalers), we remain dependent on our traditional CCS business for a portion of our revenue, which continues to experience slower growth rates, increased pricing pressures and a highly competitive marketplace, including from original design manufacturers (ODMs). A decline in revenue from, or the loss of, any significant customer could have a material adverse effect on our financial condition and operating results. We cannot assure: (i) the replacement of completed, delayed, cancelled or reduced orders with new business; (ii) that our current customers will continue to utilize our services consistent with historical volumes or at all; and/or (iii) that our customers will renew their long-term manufactu

View Full Filing

View this 20-F filing on SEC EDGAR