Slide 1: FMC Corporation Presentation to Senior Lenders
Exhibit 99.1 Exhibit FMC Presentation June PUBLIC 8,Corporation 2004 99.1 VERSION to Senior Lenders
Slide 2: Agenda
Performance Agenda Transaction Public Financial Private 1 Q&A Q&A Projections Overview Update and Outlook
Slide 3: Performance Update and Outlook
Performance Thomas C. Deas, Update Jr. Vice and Outlook President & Treasurer
Slide 4: Safe Harbor Statement Disclaimer
SafeCompany Disclaimer These Actual Additional Securities The 3 Harbor slides results Exchange information Statement and of undertakes the Act Company accompanying under concerning ofno1934, obligation the may Private asfactors presentation differ amended. toSecurities materially update that may con
Slide 5: Diversified FMC Corporation Sales
Diversified ($ Sales(1): FMC Adjusted Adj. Industrial Specialty Agricultural Sales: (1) (2) interests, See Adjusted Segment Appendix EBITDA Corporation $789.1 $523.6 $685.0 $interest in EBITDA(2) Chemicals Chemicals 1,993.1 chemical millions; Products figures EBITDA for Margin: income reconciliation
Slide 6: FMC's Proven Strengths
FMC’s presence Leading Global Diversified Focused Proven 5 Strengths management market R&Dbusiness andand integrated positions strong mix withand applications extensive costhigh-quality structure industry expertise customer experience base
Slide 7: 1st Quarter 2004 Performance
Operating Revenue Adjusted Free – * 6 Agricultural Working Higher Specialty Industrial Capital Compared cashup revenue EBITDA spending flow Performance: capital Chemicals Chemicals 17% toProducts up the*in focus $30 1st up less all16% quarter million flat weaker three than up 1st*Quarter D&A busines
Slide 8: Agricultural Products Segment
Agricultural Robust Sales Segment – Note: 7 Two-thirds Broad-based Higher Improved Lower up increase All Brazilian costs 35%, earnings sales comparisons Brazilian product Products: ofdriven segment growth the crop growth increase mix by: farm market across 1Q are earnings driven 2004 against economy
Slide 9: Specialty Chemicals Segment
Specialty Growth Sales BioPolymer – Strong Segment Note: 8 Stronger Higher up All lithium strategies 6%, earnings carrageenan comparisons Chemicals: microcrystalline businesses segment sales in flatin key 1Q sales primarily earnings are the drive franchises 2004 against battery into cellulose health
Slide 10: Industrial Chemicals Segment
Industrial Signs Sales Strong Improved were Improvement Segment restructuring – Note: Favorable Unfavorable Higher Lower offset up All ofgrowth recovery export soda 10%, earnings volumes freight comparisons Chemicals: soda by: foreign in ash segment product from ash selling affiliate and export desp
Slide 11: 1st Quarter 2004 Financial Performance
1Q Net 1st ($ Revenue D&A Margin Capital Debt Bank Net Adj. (Adj. (1) and (2) (3) 10 Excludes Includes Quarter 2004 Debt(3)/Adjusted income EBITDA/Interest Balance EBITDA-CapEx)/Int. Debt(2)/Adjusted 124.6 Debt Expenditures 16.7% Financial $in1,921.4 1st millions) taxes. 30.5 borrowings is restructu
Slide 12: Balance Sheet
Current ($ Cash Restricted Balance Foreign Senior Pollution 10.25% Other Total Debt, 11 and Bank Debt net Public Secured Capitalization Senior Bank Sheet in of Control Cash Cash $Debt millions) all 1,318.0 Domestic Borrowings Debt Secured Equivalents cash Term Revolving Account $and 376.3 $Loan 03/
Slide 13: Strong Liquidity Position
StrongUndrawn ($ 03/31/04 Less: Outstanding Revolving Plus: Total 12 Unrestricted Committed Liquidity Amount Liquidity inCredit millions) L/C’s Drawn Advised $ Position 346.5 Liquidity Availability Facility Cash (2.6) (67.0) 65.1 Foreign $ $250.0 245.5 $ 180.4 Credit Lines 101.0
Slide 14: 2004 Outlook
2004 Great Strong Solid 50% Debt – 13Improved Higher Selling Improvement Increased Netearnings levels Outlook earnings debt progress earnings sales price reduction sales product growth due in improvements towards at growth pharmaceutical, somewhat to Specialty Astaris toamix $20-40 Latin certain ino
Slide 15: Financial Flexibility Highlights
Create Despite Pre-Tax Capital Cash Legacy Restructuring Astaris Total * Adjusted ** 14Adjusted Includes Taxes Flow Legacy Greater Keepwells Expenditures Environmental Astaris Interest** EBITDA* EBITDA EBITDA Highlights 15 $82 Outflows (Pocatello) ———Relatively Financial restructuring, million 40 84
Slide 16: Strategic Objectives
Strategic Realize Create Focus – 15Double-digit Industrial Net Regain Manage Divest Improve debt the greater the any Objectives an portfolio Specialty Industrial ROIC reduction operating Chemicals investment business financial growth to on 12 Chemicals Chemicals of leverage that higher in recovery p
Slide 17: Transaction Overview
Transaction Michael ManagingMauer Director, OverviewCitigroup
Slide 18: Transaction Overview Term Loan
Transaction Term Borrower: Guarantors: Amount: Ratings: Pricing: Security: Maturity: Covenants: Loan LBBB-/Ba1 $243.0 Same Same +FMC B Same Overview Same 175as as Corporation bps million as existing as existing existing existing
Slide 19: June Timetable
June Timetable S 1 6 13 20 27 Event Launch Conference Commitments Closing 1872M28 14 21 83T2004 9429 15 22 Date W 5Amendment 10 June 16 23 30 T11FCall 17 24 21 12 SDue 18with 25 19 26 June inLenders Marketplace 15 June 8June 7
Slide 20: Public Q&A
FiNvIC FMC Corporation Public Q&A
Slide 21: Appendix
Appendix
Slide 22: Adjusted EBITDA Calculation
Adjusted 1st Minority Restructuring 21 Quarter interest EBITDA 1stand Quarter 2.9 other Calculation 0.7LTM charges 0.7 2.9 ($ (gains) Interestin(5.1) expense, millions) 1.3 (3.8) net 2003 92.2 Adjusted 2003 25.32004 20.4 EBITDA 03/31/04 87.3 Deduct: $321.2 Income $62.4 Equity (loss) $72.5 earnings f