Rayonier Advanced Materials Inc. · NYSE:RYAM
Rayonier Advanced Materials — March Equity Conferences 2025
15 slides from Rayonier Advanced Materials's conference presentation, March 2025
Slide 1: Investor Presentation: March Equity Conferences
Investor Presentation March Equity Conferences March 2025
Slide 2: Safe Harbor
Safe Harbor Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes, including business and market conditions, outlook and other similar statements relating to future events, developments or financial or operational performan
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures This earnings release and the accompanying schedules contain certain non-GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted free cash flows, adjusted income from continuing operations, adjusted net debt, and net secured debt. The Company believes these n
Slide 4: Who is RYAM
Who is RYAM ⎔ For nearly 100 years, RYAM has developed a platform that produces natural cellulose fibers that create value in a diverse range of end-use products – Largest global supplier of high purity cellulose specialties products – Sole producer of 3-ply paperboard in North America – 290,000 met
Slide 5: RYAM Is Everywhere
RYAM Is Everywhere Food Fluff Personal Hygiene Ethers Pharmaceuticals Lignin Industrial Biomaterials Bioethanol Filter Bioenergy Acetate Plastic Packaging LCD/Film Paperboard Lottery Tire Cord Commercial Print Casings Packaging Filtration High-Yield Other CS Paperboard Nitrocellulose Pulp Printing &
Slide 6: Business Overview
Business Overview ENTERPRISE REVENUES AND EBITDA Revenue ($ Billions) Revenue by Product 8% 7% 6% 15% 13% 14% $1.7 $1.6 $1.6- High-Yield Pulp $1.6 3% 5% 2% $1.7 5% 10% 5% 4% $1.4 $1.4 Paperboard 7% $1.3 6% 15% Viscose 12% 11% Paper Pulp/Other Biomaterials/Other Fluff 50% 48% 54% Cellulose Specialtie
Slide 7: 2025 Initiatives
2025 Initiatives ADJUSTED EBITDA GUIDANCE OF $215-235M; ADJUSTED FREE CASH FLOW OF $25-45M ⎔ Reduce debt ⎔ Growth through Biomaterials investments – Maximize the pay down of debt per the credit agreements – Expand product offering driven by growing demand for – Potential sale of valuable non-core Pa
Slide 8: Potential Tariffs: Impact & Mitigation Summary
Potential Tariffs: Impact & Mitigation Summary Cellulose Specialties Cellulose Commodities Paperboard Exposed Market ⎔ China ⎔ China ⎔ US Coated Paperboard ⎔ Retaliatory Tariff from China ⎔ Retaliatory Tariff from China ⎔ US Tariff Implementation Revenue Exposed ⎔ ~$160 Million ⎔ ~$110 Million ⎔ ~$1
Slide 9: Future CS Supply and Demand Dynamic
Future CS Supply and Demand Dynamic MARKET DYNAMICS TIGHTEN AMID CAPACITY RATIONALIZATION Reflects ~10% reduction in CS industry capacity Shipment to Capacity 85% 81% 82% 83% 80% 87% 90% 92% 91% Ratio(1) 1.6 1.4 MILLIONS OF TONNES (2) 0.2 0.3 0.2 0.1 0.3 0.1 0.1 1.2 0.3 0.2 1.0 0.8 0.6 1.2 1.2 1.2 1
Slide 10: Evaluating High-Return Strategic CapEx Opportunities
Evaluating High-Return Strategic CapEx Opportunities STRICT HURDLE RATE: MINIMUM >30% ROE WITH <2-YEAR PAYBACK C ($ Millions) 2025 Strategic 2025 Ext. 2025 Strategic 0Total Strategic Total Ext. Total Strategic CapEx oFull Production EBITDA Benefit (1) Project Aera 0 CapEx Financing CapEx, net 2 CapE
Slide 11: RYAM's Compelling Proposition
RYAM’s Compelling Proposition STABLE CORE BUSINESS AND BIOMATERIALS DRIVE EBITDA TO $325M IN 2 027 Key Drivers 12.5x 18.0% ⎔ Stable Core CS Business with favorable 17% supply and demand dynamics 16.0% – Recent capacity rationalization has 10.0x 15% significantly tightened the CS market 10.0x 13.6% 1
Slide 12: Appendix
Appendix
Slide 13: 2024 Financial Highlights
2024 Financial Highlights Revenue by Segment/Product ⎔ Revenue of $1,630 million; -$13 million from 2023 ⎔ Operating Income of $39 million; +$104 million from 2023 Paperboard 14% ⎔ Adjusted Free Cash Flow generation of $128 million; +$75 million from 2023 ⎔ Adjusted EBITDA of $222 million; +$83 mill
Slide 14: Capital Structure & Liquidity
Total Liquidity Capital Structure & Liquidity Cash $141 $276 $125 Factoring (France) Million ABL (North America) ⎔ Adjusted Net Debt of $653 million, $68 million reduction from 2023 $10 – Net Secured debt of $625 million, $73 million reduction from 2023 Amount ⎔ $276 million of liquidity, including
Slide 15: 2025 Guidance
2025 Guidance EBITDA: $215-$235M | ADJUSTED FREE CASH FLOW: $25-$45M ($ Millions) $215-235 Capital allocation $(93) decision to repay debt or invest in high return strategic capital projects $5 $37-57 $0 $25-45 $(85) $(14) $(3) (1) (2) (3) Adjusted EBITDA Cash Interest Maintenance Recurring Free Env
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