Slide 1: Q3 2014 Supplement
Q3 2014 Supplement November 5, 2014
Slide 2: Disclaimer
Disclaimer Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on
Slide 3: Select Adjusted Financial Results Q3'14 vs. Q3'13
Platform Select Adjusted Financial Results Q3’14 vs. Q3‘13 Predecessor/Successor Combined YTD Q3 YTD Q3 Prior Year Prior Year Q3 2014 Q3 2013 2014 2013 Variance Variance Adjusted Adjusted Adjusted Adjusted Total Sales $196.8 $188.4 $8.4 4.5% $569.6 $560.6 $9.0 1.6% Prop Sales $187.3 $178.6 $8.7 4.9%
Slide 4: Segment Trends Q3 2014
Platform Segment Trends Q3 2014 Predecessor/Successor Combined YTD Q3 YTD Q3 Q3 2014 Q3 2013 YoY Var 2014 2013 YoY Var Revenues (in $MMs) Performance Materials $153.6 $145.3 $8.3 $443.8 $429.5 $14.3 Graphic Solutions $43.2 $43.1 $0.1 $125.8 $131.1 ($5.3) Total Revenue $196.8 $188.4 $8.4 $569.6 $560.
Slide 5: Reconciliation of Net Income to Adjusted EBITDA
Platform Reconciliation of Net Income to Adjusted EBITDA Predecessor/Successor Combined – 2014 vs. 2013 Periods YTD Q3 YTD Q3 (in $MMs) Q3 2014 Q3 2013 2014 2013 Net income (loss) $ 11.9 $ 14.5 $ 4.1 $ 23.9 Adjustments to reconcile to net income (loss): Income tax expense (benefit) (1.6) 6.9 (3.5) 2
Slide 6: Free Cash Flow Schedule
Free Cash Flow Schedule Q3'14 Q3'13 YTD'14 YTD'13 1 Net Income (Loss) $ 13,917 $ 14,636 $ 9,457 $ 24,209 Plus: D&A 18,970 9,717 57,256 29,458 Plus: Other Non-Cash Expenses (9,935) (3,121) 13,904 23,774 Less: Change in Working Capital (8,946) (115) (12,188) (9,432) Cash Flow from Operations $ 14,006
Slide 7: Free Cash Flow Schedule – LTM
Free Cash Flow Schedule – LTM Q3'14 Q2'14 Q1'14 Q4'13 LTM Net Income (Loss)¹ $ 13,917 $ 1,488 $ (5,948) $ (206,320) $ (196,863) Plus: D&A 18,970 $ 21,396 16,890 16,155 73,411 Plus: Other Non-Cash Expenses (9,935) $ 1,015 22,824 192,567 206,471 Less: Change in Working Capital (8,946) $ 1,645 (4,887)
Slide 8: Free Cash Flow Schedule – YTD
Free Cash Flow Schedule – YTD Q3'14 Q2'14 Q1'14 YTD' 14 Q3'13 Q2'13 Q1'13 YTD' 13 Net Income (Loss)¹ $ 13,917 $ 1,488 $ (5,948) $ 9,457 $ 14,636 $ (5,764) $ 15,337 $ 24,209 Plus: D&A 18,970 21,396 16,890 57,256 9,717 9,854 9,887 29,458 Plus: Other Non-Cash Expenses (9,935) 1,015 22,824 13,904 (3,121
Slide 9: As Adjusted EPS
Platform As Adjusted EPS YTD Q3 YTD Q3 Q3 2014 Q3 2013 2014 2013 As Adjusted NIAT(1) $ 27.9 $ 24.4 $ 76.7 $ 68.2 As Adjusted EPS Basic: $0.20 $0.18 $0.62 $0.55 Basic Share Count: 137.3 137.3 124.5 124.5 As Adjusted EPS Diluted $0.19 $0.16 $0.52 $0.46 Diluted Share Count(2) 148.4 148.4 148.4 148.4 (1