Albemarle Investor Presentation
$M
Strong Financial Position and Ample Liquidity (As of 3/31/23, $M)
NET CASH FROM
CAPITAL EXPENDITURES
$4,000
$3,000
$2,000
$1,000
$0
-$1,000
-$2,000
OPERATIONS
2022A
2023E
Settlement of Prior Legal Matter
Change in Working Capital & Other
D&A
Net Income
LEVERAGE1 (x)
0.5x
0.3x-0.5x
$1.3B
($M)
$1.7 -$1.9B
2022A
2023E
2022A
2023E
•
Committed to maintaining Investment
Grade credit rating
$1.7B debt issuance in 2022
strengthens liquidity and reduces
repayment risk in a volatile
environment.
$1.6B cash and cash equivalents
$3.2B total debt (99% fixed rate)
Weighted average interest of 4.0%
Q1 2023 Net Debt to Adj. EBITDA² of
0.4x
Working capital typically averages
~25% of net sales
Free cash flow positive in 2022, significant operating cash flow to fund accelerated growth investments
1 Leverage defined as consolidated net funded debt to consolidated EBITDA ratio; 2023E leverage assumes FY 2023E Adjusted EBITDA guidance of $3.3B to $4.0B
2 Bank covenant definition, see Appendix
ALBEMARLE
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