Evercore Investment Banking Pitch Book
SIRE Situation Analysis
SIRE Financial Projections - Sisecam Wyoming EBITDA
Domestic Sales Volumes (mt)
Export Sales Volumes (mt)
Sales Volumes (mt)
Volume Growth (%)
Domestic Gross Revenue
Export Gross Revenue
Gross Revenue
Domestic Freight
Export Freight
Freight Costs
Domestic Net Revenue
Export Net Revenue
Net Revenue
Average Net Realized Price
Energy Costs
Personnel Costs
Royalties
Severance & Ad Valorem Taxes
Other
Cost of Goods Sold
Gross Profit
Gross Margin (% of Net Revenue)
Operating Expenses
Sisecam Wyoming EBITDA
EBITDA Margin (% of Net Revenue)
Source: SIRE Financial Projections
EVERCORE
2023E
1.26
1.26
2.52
(0.1%)
$344.1
440.9
$784.9
($132.7)
(189.3)
($321.9)
$211.4
251.6
$463.0
$184.00
(76.0)
(88.7)
(21.5)
(12.0)
(83.0)
($281.2)
$181.8
39.3%
(23.8)
$158.0
34.1%
2024E
For the Years Ending December 31,
2025E
2026E
1.19
1.19
2.37
(5.8%)
$330.4
407.7
$738.0
($128.8)
(182.4)
($311.2)
26
$201.6
225.3
$426.9
$180.00
(63.7)
(89.3)
(18.8)
(11.5)
(75.6)
($259.0)
$167.9
39.3%
(20.4)
$147.5
34.5%
1.11
1.11
2.22
(6.4%)
$310.7
374.4
$685.2
($124.2)
(174.6)
($298.8)
$186.5
199.8
$386.4
$174.00
(60.9)
(91.2)
(17.0)
(11.0)
(67.9)
($248.0)
$138.3
35.8%
(20.9)
$117.4
30.4%
1.11
1.11
2.22
--%
$314.5
369.5
$683.9
($127.9)
(178.5)
($306.5)
$186.5
191.0
$377.5
$170.00
(62.3)
(93.9)
(16.6)
(11.3)
(62.6)
($246.7)
$130.8
34.6%
(21.4)
$109.4
29.0%
2027E
1.19
1.19
2.37
6.8%
$339.9
398.9
$738.8
($140.7)
(195.0)
($335.7)
$199.2
203.9
$403.1
$170.00
(68.1)
(97.6)
(17.7)
(12.3)
(72.2)
($267.9)
$135.2
33.5%
(21.9)
$113.4
28.1%
($ in millions)
2028E
1.19
1.19
2.37
--%
$344.2
396.2
$740.3
($145.0)
(199.3)
($344.3)
$199.2
196.8
$396.0
$167.00
(69.6)
(100.6)
(17.4)
(12.6)
(73.8)
($274.0)
$122.1
30.8%
(22.3)
$99.7
25.2%
ŞİŞECAMView entire presentation