Evercore Investment Banking Pitch Book
Confidential - Preliminary and Subject to Change
Financial Projections and Preliminary Valuation Detail - Sensitivity Case #1
1 Sisecam Wyoming EBITDA - Sensitivity Case #1
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)
SIRE Financial Projections, SIRE management
EVERCORE
2022E
1.17
1.35
2.52
(1.3%)
$337.6
400.5
$738.1
($117.0)
(171.8)
($288.7)
$220.6
228.7
$449.4
$178.40
(68.8)
(85.3)
(20.8)
(18.2)
(74.3)
($267.4)
$181.9
40.5%
(23.3)
$158.7
35.3%
2023E
1.20
1.20
2.40
(4.7%)
$364.1
468.5
$832.7
($126.5)
(180.5)
($307.1)
$237.6
288.0
$525.6
$219.00
(82.4)
(96.1)
(24.4)
(13.6)
(89.9)
($306.4)
$219.2
41.7%
(23.8)
$195.4
37.2%
28
For the Years Ending December 31,
2024E
2025E
2026E
1.20
1.20
2.40
--%
$399.2
472.6
$871.8
($130.3)
(184.6)
($314.9)
$268.8
288.0
$556.8
$232.02
(84.8)
(119.0)
(24.5)
(15.0)
(100.7)
($344.1)
$212.7
38.2%
(20.4)
$192.3
34.5%
1.20
1.20
2.40
--%
$399.1
462.3
$861.4
($134.3)
(188.7)
($323.0)
$264.8
273.6
$538.4
$224.33
(93.8)
(134.9)
(23.7)
(16.3)
(96.6)
($365.3)
$173.1
32.2%
(20.9)
$152.2
28.3%
1.20
1.20
2.40
--%
$402.0
454.6
$856.6
($138.3)
(193.0)
($331.3)
$263.7
261.6
$525.3
$218.89
(91.5)
(131.6)
(23.1)
(15.9)
(94.3)
($356.4)
$168.9
32.2%
(21.4)
$147.5
28.1%
2027E
($ in millions)
1.20
1.20
2.40
--%
$384.6
458.9
$843.5
($142.4)
(197.3)
($339.7)
$242.2
261.6
$503.8
$209.90
(82.3)
(118.3)
(22.2)
(15.2)
(84.8)
($322.8)
$181.0
35.9%
(21.9)
$159.1
31.6%
2028E
1.20
1.20
2.40
--%
$393.3
451.4
$844.7
($146.7)
(201.8)
($348.5)
$246.6
249.6
$496.2
$206.75
(81.1)
(116.5)
(21.8)
(15.0)
(83.5)
($317.9)
$178.3
35.9%
(22.3)
$155.9
31.4%
ŞİŞECAMView entire presentation