Ecovyst Inc. · NYSE:ECVT
Ecovyst — BMO Chemicals Farm to Market Conference 2024
24 slides from Ecovyst's conference presentation, May 16, 2024
Slide 1: BMO Chemicals Farm to Market Conference
BMO Chemicals Farm to Market Conference May 16, 2024 YOUR CATALYST FOR POSITIVE CHANGE
Slide 2: Legal Discussion: Forward-Looking Statements
Legal Discussion Forward-Looking Statements Some of the information contained in this presentation, the conference call during which this presentation is reviewed and any discussions that follow constitutes “forward-looking statements.” Forward-looking statements can be identified by words such as “
Slide 3: Legal Discussion: Supply Share and Industry Information
Legal Discussion Supply Share and Industry Information Certain statistical information used in this presentation is based on independent industry publications, reports by research firms or other published independent sources. Some statistical information is also based on our good faith estimates whi
Slide 4: Ecovyst Business Profile & Value Proposition
Ecovyst Business Profile & Value Proposition An Industry-leading Provider of Specialty Catalysts and Services into Key End Uses • Favorable organic growth trends driven by end use demand and growing need for sustainable products and services • Revenue visibility arising from customer collaborations,
Slide 5: Q1 2024 Key Highlights
Key Highlights Q1 2024 Key Highlights $161 Mln $46 Mln 25% GAAP Sales Adj. EBITDA Adj. EBITDA Margin Q1 2024 Q1 20241 Q1 20241,2 2.9x 75% $173 Mln Net Debt Leverage Cash Liquidity5 Ratio1,4 Conversion1,3 1. See Appendix for Reconciliations of non-GAAP measures 2. Adjusted EBITDA margin calculation i
Slide 6: Ecoservices
Ecoservices Financial Highlights 2023 Sales - $691 Million 2023 Adjusted EBITDA1 - $200 Million Business Overview Demand Drivers Leading N.A. provider of sulfuric acid regeneration services • Customer ~10% reduction Achieveexpansion of alkylation units Regeneration in natural gas usage • Growth in p
Slide 7: Advanced Materials & Catalysts
Advanced Materials & Catalysts Financial Highlights Advanced Silicas Sales - $106 Million Zeolyst Joint Venture Sales - $156 Million 2023 Adjusted EBITDA1,2 - $82 Million Business Overview Demand Drivers From concept to pilot to production 2X market growth from Industrial markets: Achieve ~10% reduc
Slide 8: First Quarter 2024 Financial Performance
First Quarter 2024 Financial Performance
Slide 9: Financial Performance - Q1 2024
Financial Performance - Q1 2024 First Quarter Financial Results First First Quarter Quarter $ % ($ in millions) 2024 2023 Change Change Ecovyst Sales 160.5 160.9 (0.4) (0.2) Zeolyst Joint Venture Sales 23.5 22.1 1.4 6.3 Net Income (Loss) 1.2 (1.5) 2.7 180.0 Net Income Margin (%) 0.7 (0.9) NM Adjuste
Slide 10: Ecoservices - Q1 2024 Financial Performance
Ecoservices - Q1 2024 Financial Performance First First Quarter Quarter $ % ($ in millions) 2024 2023 Change Change Sales 141.6 137.8 3.8 2.8 Adjusted EBITDA1 41.5 36.8 4.7 12.8 Adjusted EBITDA Margin1 (%) 29.3 26.7 260 bps Highlights • First quarter sales reflect higher sales volume for virgin sulf
Slide 11: Advanced Materials & Catalysts - Q1 2024 Financial Performance
Advanced Materials & Catalysts - Q1 2024 Financial Performance First First Quarter Quarter $ % ($ in millions) 2024 2023 Change Change Advanced Silicas Sales 18.9 23.1 (4.2) (18.2) Zeolyst Joint Venture Sales 23.5 22.1 1.4 6.3 Adjusted EBITDA1 11.1 13.0 (1.9) (14.6) Adjusted EBITDA Margin1,2 (%) 26.
Slide 12: Cash & Leverage
Cash & Leverage Strong Cash Conversion Provides for Capital Allocation Flexibility 1 2 Share repurchases Cash Generation Leverage Ratio and Debt Profile • Continued strong cash flow from operations • Strong cash generation capability has • Available liquidity of $173 million3 as of March 31, provide
Slide 13: Appendix
APPENDIX
Slide 14: Annual Segment Sales, Adjusted EBITDA and Margins
Annual Segment Sales, Adjusted EBITDA and Margins Trailing Twelve Months Ended (TTM) Year Ended December 31, ($ in millions, except %) March 31, 2024 2023 2022 2021 2020 Sales: Ecoservices 588.7 584.8 702.5 500.5 401.9 Advanced Silicas 102.0 106.3 117.7 110.7 94.0 Total sales 690.7 691.1 820.2 611.2
Slide 15: Ecoservices: North American Leader in Sulfuric Acid Recycling
Ecoservices: North American Leader in Sulfuric Acid Recycling and Related Services with Key Competitive Position in Gulf Coast and California ANTICIPATED FUTURE GROWTH FACTORS • Existing customer re-contracting, and favorable alkylate fundamentals expected to drive growth for regeneration services •
Slide 16: Advanced Materials & Catalysts: Global Leader in Tailored Catalyst Solutions
Advanced Materials & Catalysts: Global Leader in Tailored Catalyst Solutions ANTICIPATED FUTURE GROWTH FACTORS • Preferred technology and increasing product offerings for strengthening & light weighting of materials projected to drive growth in polyethylene catalysts • Growing demand for sustainable
Slide 17: Quarterly Segment Sales, Adjusted EBITDA and Margins
Quarterly Segment Sales, Adjusted EBITDA and Margins Three Months Ended ($ in millions, except %) March 31, 2024 March 31, 2023 Sales: Ecoservices 141.6 137.8 Advanced Silicas 18.9 23.1 Total sales 160.5 160.9 Zeolyst Joint Venture sales 23.5 22.1 Adjusted EBITDA: 1 Ecoservices 41.5 36.8 Advanced Ma
Slide 18: Sales and Adjusted EBITDA Major Change Factors
Sales and Adjusted EBITDA Major Change Factors Sales Three Months Ended March 31, 2024 Sales Advanced (in $ millions and %) Ecovyst Ecoservices Silicas Sales: $ % $ % $ % Volume 15.7 9.8 20.1 14.8 (4.4) (18.9) Price/Mix (16.1) (10.0) (16.3) (12.0) 0.2 0.7 Sales Change (0.4) (0.2) 3.8 2.8 (4.2) (18.2
Slide 19: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three Months Ended TTM Year Ended December 31, December 31, December 31, December 31, ($ in millions, except %) March 31, 2024 March 31, 2024 2023 2022 2021 2020 Reconciliation of net income to Adjusted EBITDA Net income 1.2 73.9 71.2 69.8 1.8 54.3 Pro
Slide 20: Reconciliation of Net (Loss) Income to Adjusted EBITDA
Reconciliation of Net (Loss) Income to Adjusted EBITDA Three Months Twelve Months Ended TTM Three Months Ended Ended March 31, June 30, September 30, December 31, December 31, ($ in millions, except %) March 31, 2024 March 31, 2024 2023 2023 2023 2023 2023 Reconciliation of net (loss) income to Adju
Slide 21: Descriptions for reconciliation of Non-GAAP financial measures
Descriptions for reconciliation of Non-GAAP financial measures a. We use Adjusted EBITDA as a performance measure to evaluate our financial results. Because our Advanced Materials & Catalysts segment includes our 50% interest in the Zeolyst Joint Venture, we include an adjustment for our 50% proport
Slide 22: Free Cash Flow
Free Cash Flow Full Year Three months ended ($ in millions) 2023 March 31, 2024 Net cash provided by operating activities 137.6 36.5 Less: Purchases of property, plant and equipment1 65.3 17.4 Free cash flow 72.3 19.1 Full Year Three months ended ($ in millions) 2023 March 31, 2024 Included in net c
Slide 23: Cash Conversion & Leverage
Cash Conversion & Leverage Cash Conversion TTM ($ in millions, except %) 2020 2021 2022 2023 Q1 2024 Adjusted EBITDA 192.6 227.6 276.8 259.9 262.5 Less: Capex1 54.5 66.4 59.5 65.3 66.4 Cash Conversion 138.1 161.2 217.5 194.6 196.1 Cash Conversion %2 72% 71% 79% 75% 75% Net Debt Leverage Ratio ($ in
Slide 24: Accelerating the transition to a sustainability-driven future
Accelerating the transition to a sustainability-driven future
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