Chemtrade Logistics Income Fund · TSX:CHE.UN
Chemtrade Logistics Income Fund — Investor Presentation (January 2024)
15 slides from Chemtrade Logistics Income Fund's investor presentation, Jan 15, 2024
Slide 1: 2024 Guidance
RESPONSIBLE CARE® OUR COMMITMENT TO SUSTAINABILITY 2024 Guidance | January 15, 2024 1
Slide 2: Caution Regarding Forward-Looking Statements
CAUTION Certain statements contained in this presentation constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward- REGARDING looking statements can be generally identified by the use of words such as “anticipate”, “continue
Slide 3: 2024 Guidance
2024 Guidance C$ Millions ▪ 2023 Adjusted EBITDA guidance above $490.0 million, the highest level Chemtrade has ever achieved ▪ 2024 Adjusted EBITDA guidance range of $395.0 million to $435.0 million ▪ Implied Payout ratio (1) of 45% for 2024, assuming the midpoint of guidance, compared to 22% for t
Slide 4: 2024 Guidance Key Assumptions
2024 Guidance Key Assumptions 2023 2022 2024 Assumptions Assumptions Actual Key Assumptions Updated in Q4 Approximate North American MECU sales volumes 173,000 180,000 184,000 2024 realized MECU Netback being lower than 2023 (per MECU) CAD ($210) NA N/A Average CMA(1) NE Asia caustic spot price inde
Slide 5: 2024 Guidance
2024 Guidance C$ Millions ▪ While Adjusted EBITDA in 2024 is expected to be below 2023, the mid-point of 2024’s Adjusted EBITDA of $415.0 million is more representative of a sustainable level for Chemtrade. Below are the key factors relative to 2023: ▪ Lower average selling prices for caustic due to
Slide 6: Key Sensitivities: Annual Impact on Adjusted EBITDA
Key Sensitivities Annual Impact on Adjusted EBITDA Caustic Soda Price ▪ Change of US$50/DMT = CA$12.5 million Sodium Chlorate Price ▪ Change of CA$50/metric tonne = CA$13.4 million CA$/US$ exchange rate ▪ Change of 1 cent = CA$3.8 million 6 2024 Guidance 2024 Assumptions 2024 Key Sensitivities Appen
Slide 7: Appendix
APPENDIX 7 2024 Guidance 2024 Assumptions 2024 Key Sensitivities Appendix
Slide 8: Non-IFRS Measures and Ratios
Non-IFRS Measures and Ratios Non-IFRS financial measures are financial measures disclosed by an entity that (a) depict historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to their composition, exclude amounts that are included in, or in
Slide 9: Non-IFRS Measures and Ratios
Non-IFRS Measures and Ratios Distributable cash after maintenance capital expenditures – Most directly comparable IFRS financial measure: Cash flows from operating activities Definition: Distributable cash after maintenance capital expenditures is calculated as cash flow from operating activities le
Slide 10: Non-IFRS Measures and Ratios
Non-IFRS Measures and Ratios Distributable cash after maintenance capital expenditures per unit – Definition: Distributable cash after maintenance capital expenditures per unit is calculated as distributable cash after maintenance capital expenditures divided by the weighted average number of units
Slide 11: Non-IFRS Measures and Ratios
Non-IFRS Measures and Ratios C$ Thousands, except per unit metrics and ratios For the quarter ended Q3 2023 LTM Cash flow from operating activities $ 407.5 Add (Less): LTM lease payments net of sub-lease receipts (56.6) LTM (decrease) Increase in working capital 17.1 LTM changes in other items (1) 3
Slide 12: Non-IFRS Measures and Ratios
Non-IFRS Measures and Ratios C$ Thousands, except per unit metrics and ratios Growth capital expenditures – Most directly comparable IFRS financial measure: Capital expenditures Definition: Growth capital expenditures is calculated as Capital expenditures less Maintenance capital expenditures, plus
Slide 13: Total of Segments Measures
Total of Segments Measures Total of segments measures are financial measures disclosed by an entity that (a) are a subtotal of two or more reportable segments, (b) are not a component of a line item disclosed in the primary financial statements of the entity, (c) are disclosed in the notes of the fi
Slide 14: Total of Segments Measures
Total of Segments Measures C$ Thousands Adjusted EBITDA – Most directly comparable IFRS financial measure: Net earnings (loss) Year ended December 31, 2022 Net earnings (loss) $ 109,115 Add (Less): Depreciation and amortization 216,950 Net finance costs 49,969 Income tax expense 60,068 Net gain on d
Slide 15: Supplementary Financial Measures
Supplementary Financial Measures Supplementary financial measures are financial measures disclosed by an entity that (a) are, or are intended to be, disclosed on a periodic basis to depict the historical or expected future financial performance, financial position or cash flow of an entity, (b) are
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