Investor Presentaiton
Catalysts Overview
Y/Y Q2 Performance Drivers
•
Net sales up 42% (price³ 5%, volume 37%); adjusted EBITDA down 54%
Q2 2022 Performance
Q2 2022
Y/Y
$210
+42%
$213
+44%
$10
-54%
Adj. EBITDA ex FX1,4
$9
-59%
5%
-960 bps
Adj. EBITDA Margin ex FX1,4
4%
-1,024 bps
• Adjusted EBITDA declined as sales were offset by cost pressures including natural gas
and raw materials
FY 2022 Outlook (as of 8/3/2022)
.
Catalysts FY 2022 adj. EBITDA expected to be down 25-65% Y/Y, below previous
outlook due to higher input costs, particularly for natural gas in Europe related to the war
in Ukraine
(in millions)
Net Sales
Net Sales ex FX1
Adj. EBITDA4
Adj. EBITDA Margin4
•
Mitigating headwinds from higher costs with price increases and cost pass-throughs
Drivers/Sensitivities
• FCC (~50% of sales2): Primary drivers - miles driven/transportation fuel consumption
• HPC (~ 30% of sales²): Primary drivers - environmental sulfur regulations and miles
driven/transportation fuel consumption
• PCS (~20% of sales²): Primary drivers - plastic and polyurethane demand
Historical Trend (TTM)
Adjusted EBITDA
Adjusted EBITDA Margin
$106M
$107M
$102M
$98M
$87M
14%
14%
13%
13%
11%
2Q21
3Q21
4Q21
1Q22
2Q22
39
MAKING THE WORLD SAFE AND SUSTAINABLE
Note: Numbers may not reconcile due to rounding. 1 Net of FX impacts. 2 Sales based on historical average. ³ Includes FX impact.
4 See appendix for non-GAAP reconciliations.
3
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