1. Art and Diseño

*This PPT is updated in conjunction with Avnet’s quarterly financial results, which are
announced several weeks after the fiscal quarter closes. Non-financial highlights included in
this PPT may include developments announced in the first few weeks of Q3 FY15.
Avnet Quarterly Highlights – Q2 FY15
January 28, 2015
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January 28, 2015
Avnet, Inc.
2
January 28, 2015
Q2 FY15 Avnet, Inc. Highlights
Adjusted Operating
Income1
Revenue
EPS1
ROWC2
$7.6B
$274.6M
$1.27
1.8%
4.3%
8.5%
Y/Y
Y/Y
Y/Y
Basis Points
Y/Y
10.4%
22.7%
24.5%
406
Q/Q
Q/Q
Q/Q
Basis Points
24%
6
Q/Q
1Excluding
restructuring, integration and other items.
2ROWC = Return on working capital is defined on slide 20
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January 28, 2015
Cash Flow from
Operations
$265M
Q2 FY15 Avnet, Inc. Revenue and Organic Growth1
•  Revenue increased 1.8% Y/Y and 10.4% Q/Q
•  Organic revenue increased 4.6% Y/Y and 12.8% Q/Q
$8
Enterprise Revenue
Organic Growth
10%
($ in Billions)
8%
$7
8.1%
5.6%
$6
6%
4.6%
3.9%
4%
$5
3.5%
3.5%
2%
0.5%
$4
0%
-2%
$3
-4%
$2
-4.8%
-4.4%
-6%
$1
-8%
$6.7
$6.3
$6.6
$6.3
$7.4
$6.7
$7.0
$6.8
$7.6
Q213
Q313
Q413
Q114
Q214
Q314
Q414
Q115
Q215
$0
1Organic
4
-10%
revenue in constant dollars is defined on slide 20
January 28, 2015
Q2 FY15 Avnet, Inc. Operating Income and Margin1
•  Op income of $274.6 million increased 4.3% Y/Y and 22.7% Q/Q
•  Op income margin of 3.6% increased 9 basis points Y/Y and 37 basis
points Q/Q
$300
5.0%
Operating Income
Operating Margin
($ in Millions)
4.5%
$250
4.0%
$200
3.6%
3.6%
3.5%
3.5%
3.4%
3.3%
3.5%
3.3%
3.1%
$150
3.2%
3.0%
$100
2.5%
$50
2.0%
$228.5
$203.7
$231.2
$199.5
$263.2
$223.8
$244.9
$223.7
$274.6
Q213
Q313
Q413
Q114
Q214
Q314
Q414
Q115
Q215
$0
1Excluding
5
1.5%
restructuring, integration and other items
January 28, 2015
Q2 FY15 Avnet, Inc. Earnings Per Share1 (EPS)
•  Record EPS increased Y/Y for a sixth consecutive quarter
•  Increased 8.5% Y/Y and 24.5% Q/Q
$1.40
$1.20
$1.27
$1.17
$1.00
$1.05
$1.14
$1.03
$1.02
$1.02
$0.95
$0.90
$0.80
$0.60
$0.40
$0.20
$0.00
Q213
1Excluding
6
Q313
restructuring and other charges.
January 28, 2015
Q413
Q114
Q214
Q314
Q414
Q115
Q215
Q2 FY15 Avnet, Inc. Summary
Better-than-expected
revenue at both
operating groups
contributed to a sixth
consecutive quarter of
Y/Y EPS growth.
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January 28, 2015
Despite some
unfavorable impacts
due to the U.S. dollar
strengthening against
other currencies, we
turned our top-line
growth into record EPS.
Top-line growth and
effective working capital
management drove
higher returns and cash
flow from operations
to $265 million.
Q2 FY15 Highlights
•  Patrick Zammit Named Global
President of Avnet Technology
Solutions
Patrick Zammit
•  Brian Chan Recognized as a 2015
Computerworld Premier 100 IT Leader
•  Avnet Opens Global Development
Center in Shenzhen, China
William Chu (TS Asia), Dave Bent (GIS), Steve
Phillips (GIS), Ger Purcell (GIS) at Global
Development Center
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January 28, 2015
Q2 FY15 Highlights: Corporate Social Responsibility
•  Avnet Releases First Corporate Social
Responsibility (CSR) Report
•  Corporate Accountability
•  Global Supply Chain
•  Enterprise Risk Management
•  Environmental Impact
•  People and Culture
•  Community Involvement
•  Carbon Footprint (CF) Analysis
“Avnet again achieved a CF reduction based
on revenue of more than 5 percent. This
demonstrates the continuous improvement in
efficiency and organization.”
-DFGE Institute for Energy, Ecology and
Economy
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January 28, 2015
Q2FY15 Highlights: Making a Difference
Right to Play China
Salvation Army Forgotten Angels
In Shanghai, 80 employees raised $2,300
and participated in a race supporting
Right to Play China and the Ai You
Foundation.
Employees in Arizona raised more than
$54,000 to provide holiday presents for
children in need.
Fundación Regazo
World AIDS Day
Employees in Chile volunteered 80 hours
with orphaned children.
63 employees across India
volunteered 250 hours and raised
$3,700.
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January 28, 2015
Electronics Marketing
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January 28, 2015
Q2 FY15 EM Financial Highlights
•  Record quarterly revenue1 of $4.4B
•  Increase of 6.8% Y/Y
•  Increase of 1.4% Q/Q
•  Operating income margin of 4.3%
•  Increase of 19 basis points Y/Y
•  Decrease of 31 basis points Q/Q
1Organic
12
revenue in constant dollars up 9.7% Y/Y, up 3.4% Q/Q (defined on slide 20)
January 28, 2015
EM Revenue
$5.00
$4.50
$4.00
$3.50
B $3.00
i
l
l $2.50
i
o
n $2.00
s
$1.50
$1.00
$0.50
$0.00
Q2'13
Q3'13
Q4'13
Q1'14
Asia
(In Billions)
Americas
EMEA
Asia
Total
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January 28, 2015
Q2'13
$1.26
$0.91
$1.50
$3.67
Q3'13
$1.32
$1.10
$1.38
$3.80
Q2'14
Q3'14
EMEA
Q4'13
$1.39
$1.12
$1.46
$3.97
Q1'14
$1.20
$1.10
$1.64
$3.94
Q4'14
Q1'15
Q2'15
Americas
Q2'14
$1.20
$1.22
$1.73
$4.15
Q3'14
$1.19
$1.39
$1.55
$4.13
Q4'14
$1.25
$1.39
$1.68
$4.32
Q1'15
$1.21
$1.30
$1.86
$4.37
Q2'15
$1.20
$1.21
$2.03
$4.44
Q2 FY15 EM Highlights
•  Miguel Fernandez named president of EM EMEA
•  RGS adds campus security system to
education portfolio
•  EM releases MicroZed Embedded Vision
Carrier Card Kit
•  EM Americas becomes distributor for Quectel
•  EM Americas and Texas Instruments celebrate
40-year relationship
•  Avnet Embedded named Dell OEM’s Americas
Partner of the Year
•  MSC Technologies named Fujitsu’s Best Mainboard
Distributor of the Year for third consecutive year
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January 28, 2015
Miguel Fernandez
Technology Solutions
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January 28, 2015
Q2 FY15 TS Financial Highlights
•  Quarterly revenue1 of $3.1B
•  Decrease of 4.6% Y/Y
•  Increase of 26.4% Q/Q
•  Operating income margin of 3.8%
•  Increase of 9 basis points Y/Y
•  Increase of 124 basis points Q/Q
1Organic
16
revenue in constant dollars down 2% Y/Y, up 29.4% Q/Q (defined on slide 20)
January 28, 2015
TS Revenue
$3.50
$3.00
$2.50
B
i $2.00
l
l
i
o $1.50
n
s
$1.00
$0.50
$0.00
Q2'13
Q3'13
Q4'13
Q1'14
Asia
(In Billions)
Americas
EMEA
Asia
Total
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Q2'13
$1.60
$0.96
$0.47
$3.03
January 28, 2015
Q3'13
$1.30
$0.78
$0.42
$2.50
Q2'14
Q3'14
EMEA
Q4'13
$1.39
$0.80
$0.43
$2.62
Q1'14
$1.29
$0.70
$0.42
$2.41
Q4'14
Q1'15
Q2'15
Americas
Q2'14
$1.86
$0.94
$0.47
$3.27
Q3'14
$1.38
$0.77
$0.40
$2.55
Q4'14
$1.56
$0.75
$0.42
$2.73
Q1'15
$1.43
$0.67
$0.36
$2.47
Q2'15
$1.85
$0.86
$0.41
$3.12
Q2 FY15 TS Highlights
•  Introduced Avnet Cloud Toolset and Avnet Global
Cloud Center of Excellence
•  First distributor to bring HP ConvergedSystem 700
to market in the U.S.
•  TS celebrates 10-year partnership with F5 Networks
•  TS and Cisco celebrate five-year partnership
•  Named global distributor for Lenovo Enterprise
Products
•  Expanded distribution of Oracle Solutions in Latin
America and Caribbean
•  Named Insight Distributor Partner of the Year in
the U.S.
•  Named 2014 Juniper Distributor of the Year at the
U.K. and Ireland Partner Summit
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January 28, 2015
Addendum
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January 28, 2015
Non-GAAP Financial Information and Reconciliation
In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States
(“GAAP”), the Company also discloses in this document certain non-GAAP financial information including adjusted operating income, adjusted net
income and adjusted diluted earnings per share, as well as sales adjusted for the impact of acquisitions and other items (as defined in the Organic
Sales section of this document). Management believes organic sales is a useful measure for evaluating current period performance as compared
with prior periods and for understanding underlying trends.
Management believes that operating income adjusted for (i) restructuring, integration and other expenses and (ii) amortization of acquired
intangible assets and other, is a useful measure to help investors better assess and understand the Company’s operating performance, especially
when comparing results with previous periods or forecasting performance for future periods, primarily because management views the excluded
items to be outside of Avnet’s normal operating results or non-cash in nature. Management analyzes operating income without the impact of these
items as an indicator of ongoing margin performance and underlying trends in the business. Management also uses these non-GAAP measures to
establish operational goals and, in some cases, for measuring performance for compensation purposes.
Management believes net income and diluted EPS adjusted for (i) the impact of the items described above, (ii) certain items impacting income tax
expense and (iii) the gain on legal settlement, is useful to investors because it provides a measure of the Company’s net profitability on a more
comparable basis to historical periods and provides a more meaningful basis for forecasting future performance. Additionally, because of
management’s focus on generating shareholder value, of which net profitability is a primary driver, management believes net income and diluted
EPS excluding the impact of these items provides an important measure of the Company’s net results for the investing public.
Other metrics management monitors in its assessment of business performance include return on working capital (ROWC), return on capital
employed (ROCE) and working capital velocity (WC velocity). ROWC is defined as annualized adjusted operating income (as defined above)
divided by the sum of the monthly average balances of receivables and inventories less accounts payable. ROCE is defined as annualized, tax
effected adjusted operating income (as defined above) divided by the monthly average balances of interest-bearing debt and equity (including the
impact of adjustments to operating income discussed above) less cash and cash equivalents. WC velocity is defined as annualized sales divided
by the sum of the monthly average balances of receivables and inventories less accounts payable.
Any analysis of results and outlook on a non-GAAP basis should be used as a complement to, and in conjunction with, results presented in
accordance with GAAP.
20
January 28, 2015