Diversified Subsidiary Companies Presentation
All Other Operating Segments
All Other Operating Segments Description
Food Packaging: We conduct our Food Packaging segment
through our majority owned subsidiary, Viskase Companies, Inc.
(OTCPK:VKSC), a worldwide leader in the production and sale of
cellulosic, fibrous and plastic casings for the processed meat and
poultry industry
Home Fashion: We conduct our Home Fashion segment through
our wholly owned subsidiary, West Point Home LLC ("WPH"). WPH
is engaged in manufacturing, sourcing, marketing, distributing and
selling home fashion consumer products
Pharma: We conduct our Pharma segment through our wholly
owned subsidiary, Vivus LLC. Vivus is a specialty pharmaceutical
company with two approved therapies and two product
candidates in active clinical development
Other Operating Segments Financial Summary
FYE December 31,
All Other Operating Segments
($Millions)
(1)
2021
2022
2023
Selected Income Statement Data:
Highlights and Recent Developments
Food Packaging
Viskase operates plants in the United States, Mexico, Brazil, France, Italy,
Germany, Poland, and the Philippines
Steady growth is projected globally for cellulose casings, with more emphasis
on South America and Asia Pacific markets
Market demand is generally resilient as end products represent a cost-effective
and attractive source of protein; however inventory reductions in the channel
as supply chains have stabilized have had some impact on short term market
demand
• Business remains focused on reducing complexity and optimizing product and
customer mix, while targeting growth with key customers globally
Home Fashion
Focusing on core profitable customers and product lines
Implemented a more customer-focused organizational structure with the intent
of expanding key customer relationships and rebuilding the company's sales
backlog
Continued strength with institutional customers and growth into new
international markets including Africa, Australia, and the Middle East
Advancing our sustainability efforts in line with our company and customer
values
Net sales and other revenue from
operations
$698
$718
$717
Adjusted EBITDA (2)
62
51
93
Pharma
Net income (loss)
(13)
(38)
4
Adjusted EBITDA attributable to IEP (2)
56
45
87
Focused on continued market share gains and prescription growth in the U.S.
for both Qsymia and Pancreaze
Net income (loss) attributable to IEP
(13)
(38)
3
Launching Qsymia into European and Middle East markets, coupled with other
global licensing deals for other parts of the globe
Segment Balance Sheet Data (3):
Total assets
Continued development of our pipeline products
Equity attributable to IEP
$1,010
$534
$990
$951
$546
$548
All Other operating segments include Food Packaging, Home Fashion, and Pharma. Results for each of these separate segments can be found in our Quarterly Reports on Form 10-Q and our Annual Report on Form 10-K filed with the SEC.
Refer to Adjusted EBITDA reconciliation in the Appendix.
(1)
(2)
(3)
Balance Sheet data as of the end of each respective period.
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