Ecovyst Inc. · NYSE:ECVT
Ecovyst — Bank of America Leveraged Finance Conference 2022
19 slides from Ecovyst's conference presentation, Nov 29, 2022
Slide 1: Bank of America Leveraged Finance Conference
Bank of America Leveraged Finance Conference November 29, 2022 YOUR CATALYST FOR POSITIVE CHANGE ™
Slide 2: Legal Discussion
Legal Discussion Continuing Operations Financial results for fiscal 2019A-2020A are on a continuing operations basis, which excludes the Performance Materials and Performance Chemicals business segments from all quarterly and yearly results presented, unless otherwise indications, as presented in th
Slide 3: Ecovyst Business Profile & Value Proposition
Ecovyst Business Profile & Value Proposition An Industry-leading Provider of Specialty Catalysts and Services into Key End Uses • Favorable organic growth trends driven by end use demand and growing need for sustainable products and services • Significant revenue visibility arising from customer col
Slide 4: Ecovyst At a Glance
Ecovyst At a Glance Ecovyst Ecovyst is a leading, integrated provider of specialty catalysts and by the numbers services. Through our Ecoservices and Catalyst Technologies businesses, we deliver chemistry-based technologies and solutions that help our customers meet the increasing demand for $937 Mi
Slide 5: Ecovyst Reporting Segments
Ecovyst Reporting Segments Catalyst Ecoservices Technologies Sept. 2022 TTM $685 Million $252 Million2 Sales Sept. 2022 TTM Segment Adj. $226 Million $81 Million EBITDA1 Regeneration Treatment Catalyst Silica Catalysts Zeolyst International Virgin Sulfuric Acid Services Services Activation (100% Own
Slide 6: An Attractive Growth Platform
An Attractive Growth Platform Expected to Drive Customer Solutions in High-growth, Higher Margin Industry Segments Increase Share in Attractive Growth Industries • Anticipated growth above underlying industry growth in polyethylene • Advantaged virgin acid asset footprint positioned to capture growt
Slide 7: Demand Fundamentals Remain Favorable
Demand Fundamentals Remain Favorable 2021 Industry End Key Total Growth 2022 Anticipated Demand Drivers Use Products Sales Rate Regeneration Robust demand driving U.S. refinery utilization to CLEAN FUELS For Alkylation ~32% ~3% >90% as margins increase while inventory remains low. Ecoservices INDUST
Slide 8: Innovation Portfolio Focused on Sustainable Solutions and Services
Innovation Portfolio Focused on Sustainable Solutions and Services % of R&D Spend On • Greater than 71%1 of end use sales address customer and Green Technologies consumer demand for more sustainable products and services ~80% ~90% More than 80%1 of innovation investment focused on products ~60% Sust
Slide 9: Ecoservices – Q3 2022 Financial Performance
Ecoservices – Q3 2022 Financial Performance Third Third Quarter Quarter $ % ($ in millions) 2022 2021 Change Change Ecoservices Sales 195.7 137.5 58.1 42.3 Adjusted EBITDA1 64.1 51.9 12.2 23.5 Adjusted EBITDA Margin1 (%) 32.8 37.7 Ecoservices Highlights • Third quarter results reflect higher demand
Slide 10: Catalyst Technologies – Q3 2022 Financial Performance
Catalyst Technologies – Q3 2022 Financial Performance Third Third Quarter Quarter $ % ($ in millions) 2022 2021 Change Change Silica Catalysts Sales 36.8 29.9 6.9 23.1 Zeolyst JV Sales 27.8 32.8 (5.0) (15.4) Adjusted EBITDA1 19.3 25.5 (6.2) (24.3) Adjusted EBITDA Margin1,2 (%) 29.9 40.7 Catalyst Tec
Slide 11: Cash, Leverage & Liquidity
Cash, Leverage & Liquidity Strong Cash Conversion Provides for Capital Allocation Flexibility and Improving Leverage Profile Leverage Ratio2 Liquidity3 ($ millions) Cash Conversion1 3.8x 3.3x $236 3.1x 80% 2.8x $203 $207 $199 74% 71% 72% 2019 2020 2021 TTM Sept Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q4-202
Slide 12: Appendix
APPENDIX
Slide 13: Ecovyst: Robust Metrics at an Attractive Valuation
Ecovyst: Robust Metrics at an Attractive Valuation Enterprise Value / LTM Adjusted EBITDA 24.0 x 21.3 x 19.8 x 19.7 x 19.1 x 16.0 x 15.2 x 14.6 x 13.6 x 13.1 x 11.0 x 10.9 x 10.8 x 10.7 x 9.1 x 8.1 x 7.1 x ALB SHW HXL ECL ENTG CTVA KWR APD FMC PPG ASH FUL ESI AXTA DD EMN ECVT²,³ Adjusted EBITDA Marg
Slide 14: Ecoservices: A North American Leader in Sulfuric Acid Recycling and Related Services
Ecoservices: A North American Leader in Sulfuric Acid Recycling and Related Services with Key Competitive Position in Gulf Coast and California NEAR-TERM GROWTH FACTORS • Existing customer re-contracting, and favorable alkylate fundamentals expected to drive mid-to-high single digit volume growth fo
Slide 15: Catalyst Technologies: A Global Leader in Tailored Catalyst Solutions
Catalyst Technologies: A Global Leader in Tailored Catalyst Solutions NEAR-TERM GROWTH FACTORS • Preferred technology and potential increase in product offerings for strengthening & light weighting of materials projected to drive growth in polyethylene catalysts • Anticipated growing demand for rene
Slide 16: Quarterly Sales, Adjusted EBITDA and Margins
Quarterly Sales, Adjusted EBITDA and Margins Nine Nine Months Months Three Months Ended Ended Three Months Ended Ended Year Ended TTM March 31, June 30, September September March June 30, September December September December December December September ($ in millions, except %) 2022 2022 30, 2022 3
Slide 17: Reconciliation of Net (Loss) Income to Adjusted EBITDA
Reconciliation of Net (Loss) Income to Adjusted EBITDA Nine Nine Months Months Three Months Ended Ended Three Months Ended Ended Year Ended TTM Mar 31, Jun 30, Sep 30, Sep 30, Mar 31, Jun 30, Sep 30, Dec 31, Sep 30, Dec 31, Dec 31, Dec 31, ($ in millions) 2022 2022 2022 2022 2021 2021 2021 2021 2021
Slide 18: Descriptions for Reconciliation of Non-GAAP Financial Measures
Descriptions for Reconciliation of Non-GAAP Financial Measures a) We use Adjusted EBITDA as a performance measure to evaluate our financial results. Because the Catalyst Technologies segment includes our 50% interest in the Zeolyst Joint Venture, we include an adjustment for our 50% proportionate sh
Slide 19: Your Catalyst for Positive Change
YOUR CATALYST FOR POSITIVE CHANGE ™
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