Mosaic Company (the) · NYSE:MOS
Mosaic Company (the) — The Mosaic Company — BMO Global Farm to Market Conference 2023
18 slides from Mosaic Company (the)'s conference presentation, May 17, 2023
Slide 1: The Mosaic Company – BMO Global Farm to Market Conference
The Mosaic Company BMO Global Farm to Market Conference May 17, 2023 Date:
Slide 2: Forward Looking Statements & Non-GAAP Financial Measures
Forward Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, statements about proposed or pending future transactions or
Slide 3: Solid Agricultural Fundamentals
Solid Agricultural Fundamentals Slow down in yield growth in recent years has pushed our stocks-to-use ratio metric below 15%, a 25-year low and unlikely to recover in a single season. Mil Tonnes Grain and Oilseed Stocks Percent World Less China 500 22% 475 21% 450 20% 425 19% 400 375 18% 350 17% 32
Slide 4: Solid Agricultural Fundamentals
Solid Agricultural Fundamentals Lower fertilizer prices, combined with still-elevated ag commodity prices, have pushed fertilizer affordability metrics to levels that have historically been conducive to demand. Plant Nutrient Affordability Ferts Price Index / Crop Price Index 1.60 1.40 Less Affordab
Slide 5: Strong North American Spring Shipments
Strong North American Spring Shipments Mosaic’s April shipments to North American customers represent the highest level in the last five years. We expect international shipments to reflect similar demand trends as the year progresses. Total Phosphates Segment April Shipments Total Potash Segment Apr
Slide 6: Spring Pricing Remains Attractive
Spring Pricing Remains Attractive Mosaic’s realizations reflect in-country Midwest levels that are significantly higher than recent quotes at New Orleans, where little volume is currently being transacted. DAP: ~$695/st ($765/mt) MOP: ~$470/st ($515/mt) DAP: ~$520/st ($572/mt) MOP: ~$400/st ($440/mt
Slide 7: First Quarter Operational Highlights
First Quarter Operational Highlights • Best quarterly production since 2021, as operations recovered from second half 2022 disruptions that were resolved in the early part of the first quarter Phosphates • Costs expected to reflect improved benefit from lower raw material prices and higher volumes a
Slide 8: 2023 Capital Allocation
2023 Capital Allocation Our capital allocation strategy remains unchanged. Invest in the Maintain Strong Return Capital to Business Balance Sheet Shareholders High-returning, modest Current balance sheet Continue returning virtually investments reflects investment grade all Free Cash Flow to metrics
Slide 9: Investor Contact: Paul Massoud
Investor Contact: Paul Massoud 813-775-4260 paul.massoud@mosaicco.com
Slide 10: Appendix
Appendix
Slide 11: First Quarter 2023 Performance
First Quarter 2023 Performance CONSOLIDATED OPERATING NET ADJUSTED(1) REVENUES EARNINGS EARNINGS EBITDA $3,604M $545M $435M $777M -8% Y/Y -57% Y/Y -63% Y/Y -46% Y/Y PHOSPHATES POTASH MOSAIC FERTILIZANTES Net Operating Adjusted Net Operating Adjusted Net Operating Adjusted Revenues Earnings EBITDA(1)
Slide 12: Potash
Potash Q/Q Adjusted EBITDA(1) Bridge Q1 2023 Q1 2022 Variance $(177) $651 $(226) Sales Volumes (mt in millions) 1.910 1.792 0.118 MOP Selling Price (FOB Mine) ($/mt) $ 421 $ 582 $ (161) $54 $(7) $(10) $(24) MOP cash costs of production (excl Brine) ($/mt) $ 81 $ 81 $ - $36 $474 Brine Magagement Cash
Slide 13: Phosphate
Phosphate Q/Q Adjusted EBITDA(1) Bridge Q1 2023 Q1 2022 Variance $(250) Sales Volumes (mt in millions) 1.836 1.661 0.175 $632 $(239) DAP Selling Price (FOB Plant) ($/mt) $ 660 $ 785 $ (125) Production volume (mt in millions) 1.836 1.745 0.091 $58 $11 $(24) $(34) FL Cash Rock Cost of production ($/mt
Slide 14: Mosaic Fertilizantes
Mosaic Fertilizantes Q/Q Adjusted EBITDA(1) Bridge Q1 2023 Q1 2022 Variance Sales Volumes (mt in millions) 2.080 1.822 0.258 Average Finished Product Selling Price ($/mt) $ 646 $ 817 $ (171) $(230) MAP Price (delivered price to third party) ($/mt) $ 669 $ 882 $ (213) $233 $(255) Cash Rock Cost produ
Slide 15: Reconciliation of non GAAP measures
Reconciliation of non GAAP measures Consolidated Earnings (in millions) Q1 2023 Q1 2022 Consolidated net earnings attributable to Mosaic $435 $1,182 Less: Consolidated interest expense, net (41) (40) Plus: Consolidated depreciation, depletion and amortization 220 226 Plus: Accretion expense 23 20 Pl
Slide 16: Reconciliation of non GAAP measures – Potash
Reconciliation of non GAAP measures Potash Earnings (in millions) Q1 2023 Q1 2022 Operating earnings $402 $563 Plus: Depreciation, depletion and amortization 70 77 Plus: Accretion expense 2 2 Plus: Foreign exchange gain (loss) 3 17 Plus: Other income (expense) - - Plus: Notable items (3) (8) Adjuste
Slide 17: Reconciliation of non GAAP measures – Phosphate
Reconciliation of non GAAP measures Phosphate Earnings (in millions) Q1 2023 Q1 2022 Operating earnings $266 $493 Plus: Depreciation, depletion and amortization 116 120 Plus: Accretion expense 16 13 Plus: Foreign exchange gain (loss) (2) (7) Plus: Dividends received from equity investment 25 - Less:
Slide 18: Reconciliation of non GAAP measures – Mosaic Fertilizantes
Reconciliation of non GAAP measures Mosaic Fertilizantes Earnings (in millions) Q1 2023 Q1 2022 Operating earnings (loss) $(32) $187 Plus: Depreciation, depletion and amortization 32 25 Plus: Accretion expense 5 4 Plus: Foreign exchange gain (loss) 23 119 Plus: Other income (expense) (1) (1) Less: E
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