Ecovyst Inc. · NYSE:ECVT
Ecovyst — PQ Group Holdings — Merger or Acquisition (March 2021)
11 slides from Ecovyst's merger presentation, Mar 1, 2021
Slide 1: PQ Accelerates Transformation
PQ ACCELERATES TRANSFORMATION March 1, 2021
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER Forward-Looking Statements Some of the information contained in this presentation and the discussion that follows constitutes “forward-looking statements.” Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimate
Slide 3: Sale of Performance Chemicals: Another Meaningful Step to Unlock Value
SALE OF PERFORMANCE CHEMICALS: ANOTHER MEANINGFUL STEP TO UNLOCK VALUE Definitive agreement to sell Performance Chemicals to a TODAY’S ANNOUNCEMENT partnership between Cerberus Capital Management, L.P. and Koch Minerals & Trading LLC Sale price of $1.1 billion TRANSACTION VALUE Attractive valuation
Slide 4: Balancing Debt Repayment, Dividends and Investing for Growth
BALANCING DEBT REPAYMENT, DIVIDENDS AND INVESTING FOR GROWTH Targeting special dividend of $2.50 to $3.25 per share Reducing debt in range of $450 million to $550 million Also acquired niche catalysts service company with cash on hand Use of Robust Adjusted Free Cash Flows and Net Sale Proceeds, Sin
Slide 5: PQ Portfolio Transformation Accelerates
PQ PORTFOLIO TRANSFORMATION ACCELERATES 2019 2020 – 2021 FUTURE Evaluation & Positioning Transformation Building “Target PQ” o Delayered organization and o Sale of non-core assets Remaining core is an innovative catalyst and related services company separated into four distinct and product lines for
Slide 6: Looking Ahead
LOOKING AHEAD PQ Group Q4 2020 Earnings Call March 9, 2021 11:00 AM EST Target PQ Virtual Investor Conference April 8, 2021 9:00 AM EST 6
Slide 7: Appendix
APPENDIX Te) PQ Corporation
Slide 8: Quarterly Segment Sales, Adjusted EBITDA and Margins
QUARTERLY SEGMENT SALES, ADJUSTED EBITDA AND MARGINS For the Quarter Ended Three Months Ended December 31, June 30, September 30, ($ in millions except %, unaudited) 2019 March 31, 2020 2020 2020 Sales: Refining Services 105.7 100.7 90.4 107.6 Silica Catalysts 23.3 24.9 25.2 23.1 Performance Materia
Slide 9: Reconciliation of Net Income to Segment Adjusted EBITDA
RECONCILIATION OF NET INCOME TO SEGMENT ADJUSTED EBITDA Three Months Ended December 31, September 30, ($ in millions) 2019 March 31, 2020 June 30, 2020 2020 Reconciliation of net income attributable to PQ Group Holdings Inc. to Segment Adjusted EBITDA Net income attributable to PQ Group Holdings Inc
Slide 10: Descriptions for Reconciliation of Non-GAAP Financial Measures
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 50% proportionate share of depre
Slide 11: Shaping our path for a sustainable future
Shaping our path fora sustainable future . fe) PQ Corporation
PQ Group Holdings — Merger or Acquisition (March 2021) on 6ix