Clearwater Paper Corporation · NYSE:CLW
Clearwater Paper — Investor Presentation (November 2021)
18 slides from Clearwater Paper's investor presentation, November 2021
Slide 1: Investor Presentation November 2021
INVESTOR PRESENTATION November 2021
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Cautionary Statement Regarding Forward Looking Statements This presentation of supplemental information contains, in addition to historical information, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including
Slide 3: Clearwater Paper – At a Glance
CLEARWATER PAPER – AT A GLANCE TRUSTED PRODUCTS THAT ARE ESSENTIAL IN EVERYDAY LIFE1 Key Highlights – LTM Sept 20212 Two Well-Positioned Businesses $1,736M - $191M NET SALES ADJUSTED EBITDA $905M PPD $142M 48% Sales 52% 43% Adjusted NET SALES ADJUSTED EBITDA EBITDA 57% $842M CPD $106M NET SALES ADJU
Slide 4: Capital Structure and Allocation
CAPITAL STRUCTURE AND ALLOCATION Capital structure: supportive and stable Liquidity Profile ($ in millions)1 • Ample liquidity ABL Availability $246.4 • No material near-term debt maturities Less Utilization (3.9) • Corporate/Issuer ratings: Ba2/BB- Plus Unrestricted Cash 27.8 Liquidity $270.3 Sched
Slide 5: Sustainability – Our Approach
SUSTAINABILITY – OUR APPROACH SIX PRIORITY AREAS Utilizing environmental, social and governance framework We are committed to the health and safety of our employees and building a more diverse and inclusive workforce. We understand our role in conserving and protecting the planet’s air, water and la
Slide 6: Paperboard Products Division
PAPERBOARD PRODUCTS DIVISION © Clearwater Paper Corporation 2021 6
Slide 7: Paperboard Segment Overview
PAPERBOARD SEGMENT OVERVIEW Business 2020 CLW SBS • Manufactures premium SBS (Solid Bleached Sulfate) paperboard Shipments1 • Focused on a diverse North American SBS high-end packaging market Other Liquid 7% 7% • Top 5 SBS manufacturer in North America • Valued by customers for our independent statu
Slide 8: Paperboard Industry Overview
PAPERBOARD INDUSTRY OVERVIEW INDUSTRY OVERVIEW1 We operate in the SBS or the premium SBS - Other 3% Liquid Net Exports 23% 26% paperboard market • SBS, a 5.1 million ton market, is a high performance paperboard grade typically made from virgin fiber 2020 US 2020 Sales by SBS Production • End uses fo
Slide 9: Favorable End-Market Characteristics
FAVORABLE END-MARKET CHARACTERISTICS KEY INDUSTRY TRENDS • Market for SBS paperboard is stable • Continued shift in consumer preferences away from foam and plastic to paper products supports demand for paperboard U.S. Bleached Paperboard Total Production and Reported Average Annual Price1 5.5 5.4 5.
Slide 10: Consumer Products Division
CONSUMER PRODUCTS DIVISION © Clearwater Paper Corporation 2021 10
Slide 11: Consumer Products Segment Overview
CONSUMER PRODUCTS SEGMENT OVERVIEW Business • Complete line of at-home tissue products • Leader in growing North American private branded tissue market • Approximately 1/3 of overall tissue market is private branded • National footprint allowing for appropriate scale and partnership with major retai
Slide 12: Consumer Products Industry Overview
CONSUMER PRODUCTS INDUSTRY OVERVIEW U.S. INDUSTRY OVERVIEW1 • Total category 2020: 10.6M ton demand with ~70% at-home (pre-COVID ~2/3 at-home) • Demand growth 1-2%, slightly above population growth • At home 2020: ~7.6M ton demand with ~2/3 branded and ~1/3 private branded • Private brand is gaining
Slide 13: Summary
SUMMARY © Clearwater Paper Corporation 2021 13
Slide 14: Clearwater Paper Value Proposition
CLEARWATER PAPER VALUE PROPOSITION WELL POSITIONED ACROSS TWO ATTRACTIVE BUSINESSES Pulp and Paperboard: • Diversified range of end-market products, well-invested national footprint • Focused on non-integrated customers with strong service and quality commitment • Well positioned for trends towards
Slide 15: Appendix
APPENDIX © Clearwater Paper Corporation 2021 15
Slide 16: Major Maintenance Schedule
MAJOR MAINTENANCE SCHEDULE ($ IN MILLIONS) $30 $25 - $30 $27 $24 $5 $18 $20 $7 $22 $18 $17 Idaho $10 $0 $0 2016 2017 2018 2019 2020 2021 2022e 1 Q1 Q2 Q3 Q4 Total 1. This information is based upon Clearwater current expectations and estimates, as well as historical averages. Many factors are outside
Slide 17: Key Segment Information
KEY SEGMENT INFORMATION3 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Pulp and Paperboard Sales ($ millions) $212.1 $235.4 $223.6 $214.3 $223.1 $216.5 $217.2 $220.4 $219.7 $227.4 $237.5 Adjusted EBITDA ($ millions) $38.9 $42.9 $28.2 $44.0 $35.5 $41.2 $41.8
Slide 18: Key Commodity Consumption Volumes
KEY COMMODITY CONSUMPTION VOLUMES Unit of Approximate Annual Volume1 COGS Input Measure (in millions) Purchased Pulp Ton 0.3 Fiber Bone Dry Ton 1.7 Diesel Gallon 10 Electric MWh 1.0 Natural Gas MMBTU 9.5 Polyethylene Pound 30 Caustic Pound 90 Chlorate Pound 30 1 Approximated annual volume and expens
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