Dupont De Nemours, Inc. · NYSE:DD
Dupont De Nemours — Q4 2020 Earnings Presentation
17 slides from Dupont De Nemours's earnings presentation, Feb 9, 2021
Slide 1: DuPont 4Q 2020 Earnings Conference Call
DuPont 4Q 2020 Earnings Conference Call February 9, 2021
Slide 2: Merger of DuPont N&B and IFF Complete
Merger of DuPont N&B and IFF Complete STRATEGIC RATIONALE Unlocking Significant A global leader in taste, scent and nutrition BROADENS Value for DuPont C AT E G O R Y EXPOSURE Shareholders Broader Set of Ingredients and Solutions ✓ ~$7.3B tax-free cash Deeper Innovation and R&D Platform THE proceeds
Slide 3: DuPont Well Positioned to Continue Delivering Shareholder Value
DuPont Well Positioned to Continue Delivering Shareholder Value Financial Policy Highlights • Expect to maintain >90% 3.0x conversion Strong balance sheet 2.95x • Committed to a strong investment grade credit profile 2.75x • Targeting run & maintain cash YE 2019 YE 2020(1) Target balances of ~$1.5B
Slide 4: Further Progress on Portfolio Management
Further Progress on Portfolio Management Winding-down of Non-Core Segment Active Portfolio Management Actions Since Delivering Results June 2019 ✓ Divested low growth, low 9 Impact margin businesses businesses divested* ✓ Identified strategic owners for businesses not core to DuPont >$2.2B cash ✓ Re
Slide 5: Focused Portfolio in Three Strategic Verticals
Focused Portfolio in Three Strategic Verticals Electronics & Water & Mobility & Industrial Protection Materials › Industrial Solutions › Safety Solutions › Advanced Solutions › Interconnect Solutions › Shelter Solutions › Engineering Polymers › Semiconductor Technologies › Water Solutions › Performa
Slide 6: 4Q 2020 Financial Highlights
4Q 2020 Financial Highlights NET SALES ORGANIC OPERATING Adjusted 4Q 2020 Cash from $5.3 billion SALES(1) EBITDA(1) EPS(1) Operating Activities +1% Flat $1.3 billion $0.95 / share ~$1.3 billion Net Sales of $5.3B Operating EBITDA margin expansion of Free Cash Flow(1) of Portfolio (1)%, Currency 2%,
Slide 7: Financial Outlook
Financial Outlook All estimates exclude Nutrition & Biosciences which will be reflected as discontinued operations 1Q 2021 1Q 2020 FY 2021 FY 2020 Estimates Recast(2) Estimates Recast(2) Net Sales $3.75 - $3.85 billion $3.67 billion Net Sales $15.39 - $15.59 billion $14.34 billion Operating Operatin
Slide 8: Appendix
Appendix <OUPONT »
Slide 9: Updated business reporting segments
Updated business reporting segments FROM TO Businesses that are shifting to Electronics & Imaging Electronics & Industrial Electronics & Industrial Image Interconnect Semiconductor Kalrez® materials/ Vespel® Industrial Interconnect Semiconductor Solutions Solutions Technologies parts and shapes Solu
Slide 10: 4Q 2020 Net Sales Bridge
4Q 2020 Net Sales Bridge Organic Sales(1) Flat +8% +2% -1% -6% -1% +2% Flat Divestments of: Food & Beverage Mobility › Trichlorosilane $5,204 business (Non-Core) Semiconductor Health & Solutions Water Solutions $5,252 › Compound Technologies In Millions Biosciences Healthcare & Semiconductor Special
Slide 11: Core Segment Results – 4Q 2020
Core Segment Results – 4Q 2020 Operating Net Sales Operating EBITDA (Organic Change EBITDA Segment Highlights v. 4Q’19) (Change v. 4Q’19) Margin(1) (Change v. 4Q’19) • Semiconductor and smartphones drove top-line growth Electronics & $1,021 million $323 million 31.6% • Productivity and favorable pro
Slide 12: 4Q 2020 Adjusted EPS Bridge
4Q 2020 Adjusted EPS(1) Bridge $0.95 $0.95 › Interest +$0.02 › Base tax rate +$0.09 Segment Results 4Q19 Cost Savings Price (primarily Portfolio Impacts 2019 Discrete Other 4Q20 Adjusted EPS(1) T&I) & Manuf. Gains Adjusted EPS(1) Headwinds (primarily N&B) 1) Adjusted EPS is a non-GAAP measures. Refe
Slide 13: 1Q 2021 End-Market Expectations
1Q 2021 End-Market Expectations Electronics & Mobility & Segment Water & Industrial Materials Protection • Solid demand in • Demand for Tyvek® protective • IHS expecting global auto builds of Key Semiconductor garments, residential 20.5 million in 1Q 2021 Drivers Technologies expected to constructio
Slide 14: Additional Modeling Guidance – Full Year 2021
Additional Modeling Guidance – Full Year 2021 Below-the-line estimates: Items included in Operating EBITDA: Base Tax Rate 21% - 23% R&D ~$600 - 650 million D&A Corporate Cost ~$135 million ~$1,370 million, pre tax Includes Merger-Related Amortization Merger-Related Amortization ~$490 million, pre ta
Slide 15: Safe Harbor Statement
Safe Harbor Statement Cautionary Statement Regarding Forward Looking Statements This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act
Slide 16: Safe Harbor Statement
Safe Harbor Statement Cautionary Statement About Forward-Looking Statements, continued Non-GAAP Financial Measures: This presentation includes information that does not conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are considered non-GAAP measu
Slide 17: Trademarks and copyright notice
© 2021 DuPont de Nemours, Inc. All rights reserved. © 2020 DuPont. All rights reserved. DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted. Nothing contained herein shall be construed as