Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Goldman Sachs 2024 Industrials and Materials Conference
19 slides from Lyondellbasell Industries Nv's conference presentation, Dec 4, 2024
Slide 1: Goldman Sachs 2024 Industrials and Materials Conference
Goldman Sachs Michael McMurray 2024 Industrials and Materials Conference Chief Financial Officer December 4, 2024
Slide 2: Cautionary statement
Cautionary statement The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject
Slide 3: Advancing our corporate strategy
Advancing our corporate strategy Value creation and sustainability are central to our three-pillar strategy Grow and Build a profitable Step up performance upgrade the core Circular & Low Carbon and culture Solutions business Shaping our portfolio to Building a leading CLCS Unlocking significant lev
Slide 4: Sustainable growth through our MoReTec technology
Sustainable growth through our MoReTec technology Construction has begun on our first commercial-scale catalytic advanced recycling plant in Germany • MoReTec-1 is integral to our Cologne hub – together with upstream investments in waste sorting and our existing LYB olefins and polyolefins assets •
Slide 5: How has the year evolved?
How has the year evolved? Lower crude prices and gasoline cracks driving ~$1 B of annual headwinds for I&D and Refining EBITDA variance by segment ex. identified items USD, millions $5,222 $225 $49 $16 $19 $4,557 $(476) $(471) $4,509 $(27) $4,504 2023 O&P O&P EAI APS I&D Refining Technology Other 3Q
Slide 6: Resilient cash generation amid difficult market conditions
Resilient cash generation amid difficult market conditions Strong balance sheet supported by steady cash conversion Cash from operating activities USD, billions $3.4 B Cash from operating activities 3Q24 LTM $7 $2.6 B 6 Cash and cash equivalents September 30, 2024 5 4 3 2 1.9x Net debt to EBITDA ex.
Slide 7: Near-term market outlook
Near-term market outlook Seasonally slow fourth quarter further pressured by tariff and trade uncertainties • Slower seasonal demand in 4Q24 • Unexpected October PE price decline • Steady global demand with consumers North • Export congestion rising as buyers seek to Packaging remaining sensitive to
Slide 8: Advancing our strategy despite challenging markets
Advancing our strategy despite challenging markets 4Q 2024 outlook below prior expectations Progressing our strategy • LYB 4Q24 EBITDA excluding identified items likely lower • Clear criteria and focused strategy to drive profitable growth than any quarter since 2020 in the company’s core businesses
Slide 9: Appendix
Appendix
Slide 10: Information related to financial measures
Information related to financial measures This presentation makes reference to certain “non-GAAP” financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. We report our financial results in accordance with U.S. generally accepted accounting principles, b
Slide 11: Information related to financial measures (continued)
Information related to financial measures (continued) We also present EBITDA exclusive of identified items. Identified items include adjustments for “lower of cost or market" (“LCM”), gain on sale of business, impairments of more than $10 million in aggregate for the period and refinery exit costs.
Slide 12: Information related to financial measures (continued)
Information related to financial measures (continued) Reconciliation of Net Income to EBITDA Including and Excluding Identified Items Last Tw elve Year Ended Nine Months Ended Months Decem ber 31, Septem ber 30, Septem ber 30, Septem ber 30, Millions of dollars 2023 2023 2024 2024 Net income $ 2,121
Slide 13: Information related to financial measures (continued)
Information related to financial measures (continued) Reconciliation of EBITDA to EBITDA Excluding Identified Items by Segment Last Tw elve Year Ended Nine Months Ended Months Decem ber 31, Septem ber 30, Septem ber 30, Septem ber 30, Millions of dollars 2023 2023 2024 2024 EBITDA: Olefins & Polyole
Slide 14: Information related to financial measures (continued)
Information related to financial measures (continued) Calculation of Cash and Liquid Investments and Total Liquidity Septem ber 30, Millions of dollars 2024 Cash and cash equivalents and restricted cash $ 2,635 Short-term investments — Cash and liquid investments 2,635 add: Availability under Senior
Slide 15: Information related to financial measures (continued)
Information related to financial measures (continued) Reconciliation of Net Cash Provided by Operating Activities to Free Operating Cash Flow Last Tw elve Year Ended Decem ber 31, Nine Months Ended Months Septem ber 30, Septem ber 30, Septem ber 30, Millions of dollars 2022 2023 2023 2024 2024 Net c
Slide 16: Information related to financial measures (continued)
Information related to financial measures (continued) Reconciliation of Net Income to Recurring Annual EBITDA for the Value Enhancement Program Current Target Millions of dollars 2024 (a) Net income $ 445 Provision for income taxes 110 Depreciation and amortization 45 Interest expense, net — Recurri
Slide 17: Information related to financial measures (continued)
Information related to financial measures (continued) Reconciliation of Net Cash Provided by Operating Activities to EBITDA Including and Excluding Identified Items Last Tw elve Year Ended Nine Months Ended Months Decem ber 31, Septem ber 30, Septem ber 30, Septem ber 30, Millions of dollars 2023 20
Slide 18: LyondellBasell
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Slide 19: Solutions for a better tomorrow
Solutions for a better tomorrow
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