Fmc Corporation · NYSE:FMC
Fmc — UBS Chemicals Conference (March 2010)
22 slides from Fmc's conference presentation, Mar 18, 2010
Slide 1: FMC Corporation - UBS Chemicals Conference
FMC Corporation UBS Chemicals Conference Boston, MA March 18, 2010 Pierre Brondeau President and CEO W. Kim Foster Senior Vice President and CFO Exhibit 99.1
Slide 2: Disclaimer
Disclaimer Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 These slides and the accompanying presentation contain “forward-looking statements” that represent management’s best judgment as of the date hereof based on information currently available. Actual results of
Slide 3: FMC Corporation
FMC CORPORATION Revenue: $2,826 EBITDA: $594 Margin*: 21.0% INDUSTRIAL CHEMICALS Revenue: $1,027 EBITDA: $160 Margin*: 15.6% AGRICULTURAL PRODUCTS Revenue: $1,052 EBITDA: $306 Margin*: 29.1% SPECIALTY CHEMICALS Revenue: $753 EBITDA: $193 Margin*: 25.6% FMC Corporation LTM ending December 31, 2009 ($
Slide 4: Focusing the portfolio on our growth businesses
Focusing the portfolio on our growth businesses • Managing Agricultural Products and Specialty Chemicals for growth • Managing Industrial Chemicals for cash while addressing product portfolio issues Maintaining financial strength and flexibility • Solid investment grade rating S&P BBB+/Moody’s Baa1
Slide 5: Leading Market Positions
Leading Market Positions (1) Based on 2009 consolidated sales Industrial Chemicals #1 in N.A. Soda Ash #1 in N.A. Persulfates #1 Globally Carrageenan #1 Globally Carbofuran #2 in N.A. Pyrethroids Agricultural Products #1 Globally Alginates Specialty Chemicals #2 Globally #1 Globally Lithium Specialt
Slide 6: Global Presence
Global Presence Based on 2009 Consolidated Sales North America 37% of Sales Latin America 25% of Sales Europe / Middle East / Africa 25% of Sales Asia / Pacific 13% of Sales Sales CAGR 2006-08 2006-09 North America 5.4% 2.9% Latin America 27.4% 15.1% Asia 20.3% 8.0% EMEA 17.9% 3.9%
Slide 7: Diversified Customers and End Markets
Non-Cyclical 80% Cyclical 20% Diversified Customers and End Markets Approximately 80% of sales to non GDP-cyclical end markets Long-term relationships with blue chip customers No single customer represents more than ~1 % of sales Top 10 customers in total represent ~11% of sales Based on 2009 Consol
Slide 8: Diversified and Integrated Cost Structure
Diversified and Integrated Cost Structure Backward integrated in soda ash and lithium Agricultural Product’s sourcing from low-cost economies Diversified raw material structure and sourcing - No single raw material accounted for over 9% of total raw material purchases in 2009 - Global sourcing of re
Slide 9: Agricultural Products
Agricultural Products Based on 2009 Consolidated Sales of $1,052 million Strong niche positions in the Americas, Europe and Asia Proprietary, branded insecticides and herbicides Strategic Focus: • Focused in attractive intersections of products, crops and regions • Developing new actives & formulati
Slide 10: Agricultural Products
Agricultural Products 2010 segment earnings growth in the mid to high single digits reflecting higher sales in most regions partially offset by less favorable product and geographic mix and increased spending on growth initiatives
Slide 11: Specialty Chemicals
Specialty Chemicals BioPolymers – pharmaceutical and food ingredients Lithium focus on specialties – pharmaceuticals and energy storage Strategic Focus: • Strengthening positions in core market segments • Continue high focus on close to customer technology development and formulation • Pursuing fina
Slide 12: Specialty Chemicals
Specialty Chemicals 2010 segment earnings up in the mid-teens, reflecting volume-driven sales growth and productivity improvements
Slide 13: Industrial Chemicals
Industrial Chemicals Based on 2009 Consolidated Sales of $1,027 million #1 North American manufacturer of soda ash Low cost, proprietary production technologies Strategic Focus: - Managing for cash generation - Aligning capacity to highest margin markets and managing portfolio - Controlling costs an
Slide 14: Industrial Chemicals
Industrial Chemicals 2010 segment earnings up 5-15 percent versus prior year, as volume growth and favorable raw material and energy costs are partially offset by lower selling prices
Slide 15: FMC in Summary
FMC in Summary Focusing the portfolio on higher growth businesses • Managing Specialty Chemicals and Agricultural Products for growth • Managing Industrial Chemicals for cash while addressing product portfolio issues Sustaining double-digit earnings growth (1) • Diverse end-markets, low correlation
Slide 16: FMC Corporation
FMC Corporation
Slide 17: Glossary of Financial Terms & Reconciliations of GAAP to Non-GAAP
FMC Corporation Glossary of Financial Terms & Reconciliations of GAAP to Non-GAAP
Slide 18: Non-GAAP Financial Terms
Non-GAAP Financial Terms These slides contain certain “non-GAAP financial terms” which are defined below. In addition, we have provided reconciliations of non-GAAP terms to the closest GAAP term in the appendix of this presentation. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortizat
Slide 19: Segment Financial Terms
Segment Financial Terms These slides contain references to segment financial items. Some of the segment financial terms are “non-GAAP financial terms” and are defined below. In addition, we have provided reconciliations of non-GAAP terms to the closest GAAP term in the appendix of this presentation.
Slide 20: Reconciliation of income to EBITDA
Reconciliation of consolidated income from continuing operations before income taxes (a GAAP measure) to EBITDA (a Non-GAAP measure) EBITDA Reconciliation: LTM 12/31/2009 (Unaudited, in $ millions) LTM 12/31/2009 Income (loss) from continuing operations before income taxes $310.0 Net Income attribut
Slide 21: Reconciliation of Segment Operating Profit to EBITDA
Reconciliation of Segment Operating Profit (a GAAP measure) to EBITDA (a Non-GAAP measure) Segment EBITDA Reconciliation: LTM 12/31/2009 (Unaudited, in $ millions ) LTM 12/31/2009 Segment Industrial Chemicals Specialty Chemicals Agricultural Products Segment Operating Profit (GAAP) $89.7 $159.6 $289
Slide 22: FMC Corporation
FMC Corporation