Ecovyst Inc. · NYSE:ECVT
Ecovyst — Investor Day (April 2021)
84 slides from Ecovyst's investor day presentation, Apr 8, 2021
Slide 1: Investor Day | April 8, 2021
INVESTOR DAY | APRIL 8, 2021 | 10am EST
Slide 2: Welcome
Welcome Nahla Azmy Vice President, Investor Relations and Financial Communications
Slide 3: Agenda for Target PQ Virtual Investor Conference
Agenda for Target PQ Virtual Investor Conference 10:00-10:01 Welcome & Legal Nahla Azmy – VP, Investor Relations and Financial Communications 10:01-10:20 Opening Remarks and Strategy Overview Belgacem Chariag – Chairman, President and Chief Executive Officer 10:20-10:30 Refining Services Overview Ku
Slide 4: Legal Disclaimer
Legal Disclaimer Continuing Operations Financial results are on a continuing operations basis, which excludes the Performance Materials business from all quarterly and yearly results presented, unless otherwise indicated. Financial results are also presented to exclude the Performance Chemicals busi
Slide 5: Opening Remarks & Strategy Overview
Opening Remarks & Strategy Overview Belgacem Chariag Chairman, President, and Chief Executive Officer
Slide 6: Transition Nearly Complete
Transition Nearly Complete 2019 2020–2021 FUTURE Evaluation & Positioning Transformation ecovyst § Delayered organization § Divested Performance Materials Innovative catalyst products § Improved commercial and & Performance Chemicals* and services operational performance; § Acquired niche catalyst r
Slide 7: ecovyst Is…
ecovyst Is… Simpler Leaner Nimbler & Stronger Sustainability Growing & Innovative Focused Greening STRATEGY OVERVIEW / 7
Slide 8: ecovyst Business Proposition…
ecovyst Business Proposition… 1 Proven operational and commercial execution High single-digit top-line growth plus additional inorganic growth opportunities with 2 strong and sustainable margins rivaling best-in-class companies Strong cash flows and high revenue visibility from customer collaboratio
Slide 9: We Are a Focused Pure-Play Ecoservices Catalyst
We Are a Focused Pure-Play Our technologies support ecological health. We are well positioned and confident in Vying for, and propelling customers’ expansion and growth. We are a catalyst for positive change Catalyst Ecoservices Technologies Note: PQ Group Holdings Inc. intends to change its name to
Slide 10: Ecoservices
Ecoservices We partner with our customers to help them meet increasingly stringent standards for clean fuels, vehicle fuel economy, and lower emissions North American Leader in Sulfuric Acid Recycling and Related Services Specialty Grade High Purity Offsite Catalyst and Related Regeneration Services
Slide 11: Catalyst Technologies
Catalyst Technologies We partner with our customers to help improve the performance, durability and environmental profile of their products. Our products are required to meet the evolving standards of cleaner fuels, reduced waste and emission control. Leader in Tailored Solutions for Specialty and E
Slide 12: ecovyst Businesses Are Complementary and Well Positioned to Enable Change
ecovyst Businesses Are Complementary and Well Positioned to Enable Change Catalyst Technologies Ecoservices Coordinated Sales & R&D Strategies Growth in Accelerated Catalysts for Growth in custom Growth in clean Expansion of Expansion in virgin Emission Control growth in polymer renewable fuels & ca
Slide 13: Change Is Accelerating in the Industries We Serve
Change Is Accelerating in the Industries We Serve, and Our Customers Must Adapt We partner with our customers in novel, chemistry-based technologies to address the increasing demand for high Increased environmental Transportation and Growing need for and sustainability focus energy products are envi
Slide 14: ecovyst Selects High-Growth, High-Margin Segments
ecovyst Selects High-Growth, High-Margin Segments Renewable Materials >20% Renewable Fuels Catalysts Presulfiding PE Silica Market Growth CAGR1 Hydrocracking (HCC/HT) (incl. Renewable Diesel) Based Catalyst Hydrogenation (2020-2025) PE MgCl Syngas Alkylation PET Based Catalyst Copper/Borate Mining N
Slide 15: Portfolio Serving Long-Term Sustainable Trends
Portfolio Serving Long-Term Sustainable Trends • Very low environmental footprint compared to published peer data • Gaining momentum in our journey to achieve sustainability improvements ECOSERVICES CATALYST TECHNOLOGIES Recyclability Largest North American recycler of spentsulfuric acid, Removes su
Slide 16: We Are Committed and Acting on Key Sustainability Goals
We Are Committed and Acting on Key Sustainability Goals Greenhouse Gas (GHG) Waste Management Product Sustainability Certifications Emissions Complete decarbonization -40% hazardous waste 90% of R&D innovation ISO 50001 energy plans 2025 plans;-15% GHG Intensity (mtCO2e-/mt) (mt);-15% non-recyclable
Slide 17: Innovation Continues to Be Integral to Future Growth
Innovation Continues to Be Integral to Future Growth Sustainability Focused Growth through Chemistry Technical ~80% of innovation pipeline is balanced innovation Customer Collaborations Scale Up Know-how focused on customer sustainability solutions STRATEGY OVERVIEW / 17
Slide 18: Inorganic Growth Is Integral to the Strategy
Inorganic Growth Is Integral to the Strategy New catalyst technology platforms for renewable 1 fuels and renewable materials M&A A blend of accretive New catalyst and/or strategic New services targets acquisitions technology associated with platforms for efficient catalyst polymers and Attractive li
Slide 19: ecovyst – a Growing Pure-Play Catalyst and Services Company
ecovyst – a Growing Pure-Play Catalyst and Services Company Leading in Sustainable Products and Tailored Customer Solutions Target : 2025 > $ 1.0 B total Sales* with Inorganic Contribution High 30’s Adjusted EBITDA margins Our Past Cash Conversion > 80% 2025 Goals • Demonstrated Organic Growth Futur
Slide 20: ecovyst Team Here Today
ecovyst Team Here Today Belgacem Chariag Kurt Bitting Tom Schneberger Dr. Ray Kolberg Mike Crews Mike Feehan Chairman, President, and President President Vice President of Executive Vice President Vice President of Finance Chief Executive Officer Ecoservices Catalyst Technologies Technology & Busine
Slide 21: Ecoservices Overview
Ecoservices Overview Kurt Bitting President, Ecoservices YOUR CATALYST FOR POSITIVE CHANGE APPENDIX / 21
Slide 22: Key Takeaways
Key Takeaways We have the ability to deliver profitable growth across diverse end uses We have superior process technology and logistics capabilities We are enabling sustainable solutions ECOSERVICES OVERVIEW / 22
Slide 23: Ecoservices Product Lines
Ecoservices Product Lines 1 Regeneration 2 Virgin Sulfuric Acid & Sulfur Products • Regeneration for Refinery Alkylation Units • North American leading producer (virgin acid) • Chemical spent regeneration • Oleum • Industry leader • Electrolyte grades • 35% expansion of Gulf Coast • Dilute Acid capa
Slide 24: Where Do We Play? Markets and End Uses Served
Where Do We Play? Markets and End Uses Served Raw Materials Production Industries Served Regenerated Refinery Spent Sulfuric Acid Sulfuric Acid Spent Sulfuric Acid Treatment Services Hazardous Waste MMBTUs from Haz Furnace General Industrial (Treatment Services) Waste & Sulfur Sulfur Virgin acid Nyl
Slide 25: Business Snapshot
Business Snapshot Refining Services Sustainable Adjusted EBITDA Margins Key Stats1 39.3% 39.1% Leader Leader in providing sulfuric in North American 38.7% 38.7% 50-55% ~90% acid recycling for producer of merchant supplier of US cost pass-through on North American virgin sulfuric acid regeneration de
Slide 26: Where We Operate
Where We Operate Ecoservices: Supply Infrastructure Leading supplier with key competitive positions in Supply Chain & Customer Inventories Managed by the Gulf and California Ecoservices Martinez, CA Hammond, IN ~40 BARGE TRUCK RAIL PIPELINE Refineries using Sulfuric Acid Dominguez, CA Alkylation Bat
Slide 27: Virgin Sulfuric Acid Sources
Virgin Sulfuric Acid Sources Ecoservices Metals Smelting Captive – Fertilizer Merchant Sulfur Produced • Only one strength and lowest • No merchant sales • Numerous grades quality • Sulfur Derived • High quality • Primarily rail shipments • Only one strength and quality • Most reliable • Long distan
Slide 28: We Play in a Large Market That Supports an Important Service
We Play in a Large Market That Supports an Important Service Across the Globe Global Sulfuric by End Use Differentiated Service/Advantages Others: Sulfuric Acid is the most widely used 26% commodity chemical in the world Ecoservices focuses on servicing the refinery, other metals, and fibers industr
Slide 29: Macro Environment – What’s Going to Drive Future Trends
Macro Environment – What’s Going to Drive Future Trends Tighter fuel economy and emissions regulations driving robust growth for high octanes and other transportation fuels Alkylate is the most desirable blending component because it increases octane while Spread Between Retail Premium and Regular G
Slide 30: Regeneration
Regeneration ecovyst Advantages Sulfuric Acid is a catalyst used in the Major Refinery 4.4M • Acid regeneration industry operates at >90% utilization, incentivizing customers to contract with Ecoservices for production of Alkylate, Customer Barrels of sulfuric ECOSERVICES long-term reliable service
Slide 31: Virgin Acid – Differentiated by Strength, Quality and Reliability
Virgin Acid – Differentiated by Strength, Quality and Reliability Sulfuric Acid Product Oleum High Strength Electrolyte Segment Nylon Mining Industrial End Use • Vehicle lightweighting • Electrification • Pet Chem and Chemical • Construction • Construction/Infrastructure • Lead Acid Batteries • Coat
Slide 32: Treatment Services – Safely Converting Hazardous Waste to Energy
Treatment Services – Safely Converting Hazardous Waste to Energy Benefits Demand Drivers • Regional niche waste incineration • Preferable to other waste treatment methods • Highly complementary to the regeneration business. • Landfill • Provides fuel and sulfur • Deep well Growth Opportunities • Onl
Slide 33: Chem32: Pre-Activation Services
Chem32: Pre-Activation Services Benefits Demand Drivers • Enables refineries to outsource difficult task of sulfiding • International • Quicker reactor startups • Renewable Fuels • Growth in renewables • Leverage our refining relationships and sulfur knowhow Growth Opportunities • Strong existing re
Slide 34: How We Support Our Customers Through Sustainability
How We Support Our Customers Through Sustainability Regeneration Virgin Acid Treatment Services Chem 32 • Recover 99% of Sulfuric • Virgin Acid production • Treatment services • Activated catalysts used Acid in the regeneration enables lower natural gas provides fuel source to remove contaminants pr
Slide 35: Strong Margins With Additional Room for Improvement
Strong Margins With Additional Room for Improvement Optimization Initiatives 1 2 3 Increased steam Additional sulfur Expanded treatment capture for additional processing and virgin acid services capacity power sales logistics capacity 4 5 Water treatment and Continued improvement on variable consump
Slide 36: Organic Growth Projections
Organic Growth Projections Growth Drivers Organic Sales Growth Outlook New major refinery customer 2021 1 (long-term contract) Est. ~7% CAGR 6% CAGR $447 2 Favorable alkylate fundamentals $398 $401 ~39% Average 3 Growing virgin acid end uses ~39% Average Adjusted EBITDA Adjusted Margin 4 EBITDA Trea
Slide 37: Key Takeaways
Key Takeaways We have the ability to deliver profitable growth across diverse end uses We have superior process technology and logistics capabilities We are enabling sustainable solutions ECOSERVICES OVERVIEW / 37
Slide 38: Catalyst Technologies
Catalyst Technologies Tom Schneberger President, Catalyst Technologies YOUR CATALYST FOR POSITIVE CHANGE CATALYST TECHNOLOGIES / 38
Slide 39: Key Takeaways
Key Takeaways We provide innovative technologies in growing markets We selectively invest where we can grow faster than the market Customers rely on our customized offerings resulting in predictable growth and strong margins CATALYST TECHNOLOGIES / 39
Slide 40: Catalyst Technologies Business Structure
Catalyst Technologies Business Structure Catalyst Technologies Silica Catalysts Zeolyst International (100% ownership) (50% ownership with Shell Catalysts & Technologies - est. 1988) Leading global supplier of silica catalysts Leading global supplier of synthetic and catalyst supports used to produc
Slide 41: Business Snapshot – Catalyst Technologies
Business Snapshot – Catalyst Technologies We partner with our customers to help improve the performance, durability and environmental profile of their products. Our products are required to meet the evolving standards of cleaner fuels, reduced waste and emission control. Sales by End Use Segments1 S
Slide 42: We Innovate With Customers and Manufacture Strategically
We Innovate With Customers and Manufacture Strategically to Meet Their Global Needs Amsterdam, NL Warrington, UK Delfzijl, NL Ghent, BE 1 R&D and pilot plant capabilities Pittsburg, CA Conshohocken, PA S. Korea in multiple regions Kansas City,KS Houston,TX 2 Flexible manufacturing network Global sal
Slide 43: We Enable Our Customers to Address the Sustainability of Their Products
We Enable Our Customers to Address the Sustainability of Their Products Polyethylene Fuels & Emission Control Niche Custom Catalysts • Strengthening and • Increasingly efficient and • Novel production processes lightweighting cleaner fuels with increased efficiencies • Increasingly efficient • Incre
Slide 44: We Play a Critical Role in the Polyethylene Value Chain
We Play a Critical Role in the Polyethylene Value Chain 1 ecovyst catalysts & supports Feedstock Films/Packaging & Ethylene Polyethylene (Ethane/Naphtha) other end uses Pyrolysis catalysts & supports 2 under development • Production of • Production of clear • Reduces • Improves Critical Functionalit
Slide 45: We Are Integral to Clean Fuels and Emission Control
We Are Integral to Clean Fuels and Emission Control 1 Hydroprocessing (HCC) catalysts & supports Feedstock Vehicles, Diesel Transportation Fuel (Naphtha) construction, etc. Feedstock Renewable Diesel (Biomass) 3 2 Renewable fuel catalysts & supports SCR catalysts • Converts heavy oil • Reduces • Rem
Slide 46: We Focus on Higher Growth Segments
We Focus on Higher Growth Segments Where We Have Technology Advantages Renewable Materials Market Growth CAGR (2020-2025)1 Renewable Fuels >20% PE Silica Hydrogenation Based Catalyst Polypropylene Syngas PET PE MgCl Based Catalyst Hydrocracking (HCC) Hydrotreating (HT) Dehydrogenation Other Oxidatio
Slide 47: Polyethylene Demand Is Growing With Increasing Product Performance Requirements
Polyethylene Demand Is Growing With Increasing Product Performance Requirements >$1B ~4% 1 Increasing use of polyethylene per capita among growing middle class Size Demand CAGR 2 Health & Hygiene trend driving sterile 2020 – 2025 Demand packaging for food and other consumables Growth & Performance E
Slide 48: Fuel & Emission Control Customers Will Require More and Tailored Catalysts
Fuel & Emission Control Customers Will Require More and Tailored Catalysts Segment Size CAGR1 Hydrocracking ~$750M ~4% Vehicle Emissions ~$400M ~2% 1 Growing global energy requirements Demand Renewable Fuels >$100M >20% Growth & Tightening requirements for more Performance 2 efficient and cleaner fu
Slide 49: Increasing Demand for Custom Catalysts in Niche Applications
There Is Increasing Demand for Custom Catalysts in Niche Applications Renewable Materials Chemical Synthesis Syngas Derivatives ecovyst continues to innovate custom catalysts to enable: Lower energy intensity The development of The creation of novel processes that The ability to recover and producti
Slide 50: Our Innovation Model is Driven by Customer Collaboration
Our Innovation Model is Driven by Customer Collaboration Customer Need We enable our customers to 1 develop and produce sustainable products Continuous Bench Commercialization Innovation We provide technical support Process Scale 2 to customers from R&D through production 3 We are an operating and s
Slide 51: Organic Growth Outlook
Organic Growth Outlook Growth Drivers Organic Sales Growth Outlook Preferred technology and increasing product Est. 10% CAGR 1 offerings projected to drive >8% sales CAGR in each of our three segments through 2025 8% CAGR Restored manufacturing network efficiencies following 2020/2021 disruption $17
Slide 52: Key Takeaways
Key Takeaways We provide innovative technologies in growing markets We selectively invest where we can grow faster than the market Customers rely on our customized offerings resulting in predictable growth and strong margins CATALYST TECHNOLOGIES / 52
Slide 53: Innovation Overview
Innovation Overview Dr. Ray Kolberg Vice President, Technology & Business Development YOUR CATALYST FOR POSITIVE CHANGE INNOVATION OVERVIEW/ 53
Slide 54: Key Takeaways
Key Takeaways We collaborate with customers to develop and produce sustainable products We innovate and support customers from lab to production scale We take a structured approach to innovation with a rich and relevant pipeline INNOVATION OVERVIEW/ 54
Slide 55: Innovation Ecosystem
Innovation Ecosystem Depth in product development and 1 science competency Significant expertise in silica, zeolites, 2 and catalyst technologies Chemistry Technical Expertise to tailor and scale specialty 3 Customer Collaborations Scale Up Know-how grades to meet changing demands 4 Disciplined inno
Slide 56: Extensive Capabilities Driving Growth
Extensive Capabilities Driving Growth Conshohocken, PA Houston, TX R&D Center & Pilot Plant Shell R&D Center Strengths of ecovyst R&D Strong customer Global collaboration Source: Shell technical service between R&D Novel Catalysts Development for Refining Catalysts Development support centers Finish
Slide 57: Balanced Development Portfolio Approach
Balanced Development Portfolio Approach New Market Focus Technology Focus Step-Out Business Focus 3 4 1 3 1 2 1 4 • Silica-based product for • Next generation custom • Advanced ion exchange for Market/ particulate matter reduction chemical catalysts metals removal & recovery Customer • Zeolite-based
Slide 58: Rich and Relevant Pipeline
Rich and Relevant Pipeline CONCEPT EXECUTION COMMERCIAL VALUE 6 5 8 3 2 5 1 1 7 2 4 1 2 5 6 Concept Development Demonstration Pre-Commercial Ideas Pool Scoping Commercial Use Development 4 4 8 4 6 3 1 1 2 3 4 3 5 2 3 5 7 Sample of new projects in pipeline Renewable Fuels RF Emissions Control EE Rene
Slide 59: A Peek Into Some Active Innovation Projects
A Peek Into Some Active Innovation Projects Project Approach Catalyst Base Description Custom Catalysts for Zeolite-based catalysts are used in the pyrolysis process for the Developing novel catalysts that chemical recycling of plastics waste. The catalyst allows for Plastics Chemical enable chemica
Slide 60: Impact on New Sustainable Solutions
Impact on New Sustainable Solutions Global Sustainability Trend Our products provide solutions that… …Remove sulfur in diesel Clean Air …Remove NOx from emissions …Create more durable and lighter weight plastics Plastics Circularity …Enable chemical recycle and reuse of plastics …Enable higher alkyl
Slide 61: Key Takeaways
Key Takeaways We collaborate with customers to develop and produce sustainable products We innovate and support customers from lab to production scale We take a structured approach to innovation with a rich and relevant pipeline INNOVATION OVERVIEW/ 61
Slide 62: Financial Performance & Goals Overview
Financial Performance & Goals Overview Mike Crews Executive Vice President and Chief Financial Officer YOUR CATALYST FOR POSITIVE CHANGE
Slide 63: Key Takeaways
Key Takeaways Strong and Proven topline sustainable growth margins Superior metrics Secure high free warrant expanded cash conversion multiple FINANCIAL PERFORMANCE & GOALS OVERVIEW / 63
Slide 64: Solid Financial Performance and Sustainable Adjusted EBITDA Margins Exceeding Peers
Solid Financial Performance and Sustainable Adjusted EBITDA Margins Exceeding Peers Historical Sales and Adjusted EBITDA Growth (in millions)1 2019 Adjusted EBITDA Margin2 vs. Peers3 41.5% 7% Sales CAGR $86 34.6% 32.0% 32.0% $75 29.3% $170 $144 22.9% 22.7% 35% 35% 21.2% All comp median (22.0%) 7% Ad
Slide 65: Robust Cash Conversion and Portfolio Actions Enabled Optimal Capital Allocation
Robust Cash Conversion and Portfolio Actions Enabled Optimal Capital Allocation Cash Conversion Use of Robust Adjusted Free Cash Flows and Net Sale Proceeds, Since IPO3 Cash Conversion = (Adjusted EBITDA1 – CapEx2) / Adjusted EBITDA1 71% 66% Dividends 25% Debt Reduction 50% Business Reinvestment 25%
Slide 66: Financial Performance & Goals Overview
Financial Performance & Goals Overview Mike Feehan Vice President of Finance and Treasurer YOUR CATALYST FOR POSITIVE CHANGE
Slide 67: Top-Line Organic Growth and Operational Improvements Drive Higher Adjusted EBITDA and Margins
Top-Line Organic Growth and Operational Improvements Drive Higher Adjusted EBITDA and Margins Total Sales (in millions)1 Adjusted EBITDA1 (in millions) and Margins2 8% CAGR 7% CAGR 11% CAGR 7% CAGR $242 $86 $213 $75 $94 $196 $170 $144 $129 35% 35% 31% 35-40% $398 $447 $402 2017 A 2019 A 2020 A 2025
Slide 68: Strong Cash Conversion to Fund Future Growth and Pay Down Debt
Strong Cash Conversion to Fund Future Growth and Pay Down Debt Cash Conversion Capital Allocation Strategy ~80% Cash Flow from Operations Free Cash Flow Less: Maintenance Capex 72% 71% 66% Operational Growth Capex Improvement Opportunistic / Debt Paydown 2017 A 2019 A 2020 A 2025 P Bolt-on 2017 Cash
Slide 69: ecovyst Delivers Best in Class Metrics but Remains Undervalued vs. Peers
ecovyst Delivers Best in Class Metrics but Remains Undervalued vs. Peers Public Comparables & The Rationale Specialty Chemicals & Materials Electronic Chemicals Recycling/Environmental Services • High growth, high margin • Growth rates aligned with ecovyst • Critical support for US specialty chemica
Slide 70: ecovyst Delivers Best in Class Metrics but Remains Undervalued vs. Peers
ecovyst Delivers Best in Class Metrics but Remains Undervalued vs. Peers Sales CAGR 2020-2022 E 2020 Adjusted EBITDA Margin 36.4% 10.5% 9.6% 9.3% 31.6% 31.3% 29.5% 7.3% 7.0% 24.3% 24.1% 6.5% 22.8% All comp median (22.8%) 6.1% 5.9% All comp median (6.0%) 18.5% 18.2% 4.7% 4.6% 4.5% 17.5% 4.4% 15.7% 14
Slide 71: ecovyst Delivers Best in Class Metrics but Remains Undervalued vs. Peers
ecovyst Delivers Best in Class Metrics but Remains Undervalued vs. Peers 2020 Cash Conversion & Current Net Debt/Adjusted EBITDA 2022 E EV/Adjusted EBITDA 93.2% 91.9% 16.2x 15.6x 15.4x 85.5% 14.9x 76.4% 75.9% 75.4% All comp median (72.7%) 72.7% 72.1% All comp median (12.1x) 70.0% 68.5% 12.4x 12.2x 6
Slide 72: 2025 Goals – Targeting Across the Board Improvements
2025 Goals – Targeting Across the Board Improvements Moving Forward 10-12% 35-40% 80% $1b+ 2025 Goals Adjusted Adjusted EBITDA Cash EBITDA Growth Conversion Margin Total Sales* *Total sales represents ecovyst, 50% share of Zeolyst Joint Venture, and 10% projected inorganic growth FINANCIAL PERFORMAN
Slide 73: Closing Remarks
Closing Remarks Belgacem Chariag Chairman, President, and Chief Executive Officer YOUR CATALYST FOR POSITIVE CHANGE
Slide 74: ecovyst Business Proposition…
ecovyst Business Proposition… Well-defined growth strategy supported 1 Proven operational and commercial execution. by solid execution foundation High single-digit top-line growth plus additional Operating in growing industries, and transition 2 inorganic growth opportunities with strong and solutio
Slide 75: Appendix
APPENDIX APPENDIX / 75
Slide 76: Management Bios
Management Bios Belgacem Chariag Mike Crews Chairman, President and Chief Executive Officer Executive Vice President and Chief Financial Officer Mr. Chariag joined PQ Corporation in August 2018. Prior to joining PQ, he served as Chief Global Mr. Crews joined PQ Corporation in August 2015. Operations
Slide 77: Management Bios
Management Bios Mike Feehan Tom Schneberger Vice President of Finance and Treasurer President of the Catalysts Group Mr. Feehan first joined PQ Corporation in Mr. Schneberger was named President, Catalyst December 2006 and has served as Vice President Technologies in March 2021. He joined PQ of Fina
Slide 78: Management Bios
Management Bios Dr. Ray Kolberg Kurt Bitting Vice President, Technology President, Refining Services & Business Development Mr. Bitting joined Eco Services in 2006, serving as Dr. Kolberg joined PQ Corporation in 2016 and is Vice President, Business Director, and Sulfur responsible for leading PQ’s
Slide 79: Management Bios
Management Bios Nahla A. Azmy Chris Hall Vice President, Investor Relations and Corporate Controller Financial Communications Mr. Hall joined PQ Corporation as Corporate Ms. Azmy joined PQ Corporation in January 2018. Controller in August 2016. Prior to joining PQ, Mr. She has nearly 20 years of exp
Slide 80: Management Bios
Management Bios Elaine T. Simpson Joseph S. Koscinski Vice President, Health, Safety, Environment Vice President, Secretary and & Sustainability General Counsel Ms. Simpson assumed the role of Vice President, Mr. Koscinski became Vice President, Secretary Health, Safety, Environment & Sustainability
Slide 81: GAAP Reconciliations 2017-2020
GAAP Reconciliations 2017-2020 RECONCILIATION OF NET INCOME (LOSS) TO SEGMENT ADJUSTED EBITDA Continuing Operation Legacy PQ Year Ended Year Ended Year Ended Year Ended December 31, December 31, December 31, December 31, ($ in millions) 2020 2019 2018 2017 Reconciliation of net income (loss) attribu
Slide 82: GAAP Reconciliations 2017-2020
GAAP Reconciliations 2017-2020 SEGMENT SALES, ADJUSTED EBITDA AND MARGINS Continuing Operation Legacy PQ Year Ended Year Ended Year Ended Year Ended December 31, December 31, December 31 December 31, ($ in millions except %) 2020 2019 2018 2017 PQ Group Holdings Inc. Sales: Refining Services 401.9 4
Slide 83: GAAP Reconciliations 2017-2020
GAAP Reconciliations 2017-2020 DESCRIPTIONS FOR RECONCILIATION OF NON-GAAP FINANCIAL MEASURES a) We use Adjusted EBITDA as a performance measure to evaluate our financial results. Because our Catalysts segment includes our 50% interest in the Zeolyst Joint Venture, we include an adjustment for our 5
Slide 84: Your Catalyst for Positive Change
YOUR CATALYST FOR POSITIVE CHANGE