Mativ Holdings, Inc. · NYSE:MATV
Mativ — Sidoti Virtual Investor Conference September 2022
26 slides from Mativ's conference presentation, Sep 22, 2022
Slide 1: Investor Presentation
Investor Presentation Sidoti Virtual Investor Conference September 2022
Slide 2: Investment Highlights—a new opportunity
Investment Highlights—a new opportunity Leadership Accelerated Global Operations Positions Growth Potential & Supply Chain in attractive global product with multiple product and with a diverse technology categories marketplace drivers portfolio to drive innovation Material Science Achievable Cost So
Slide 3: Global Leader in Specialty Materials
Global Leader in Specialty Materials ~$3 billion annual sales Advanced Fiber- Technical Based ~$450+ million Materials Solutions synergized EBITDA(1) (ATM) (FBS) GDP+ growth High margin 15%+ synergized EBITDA ~65% ~35% of sales of sales and cash flow margins and expanding Diversified end-markets Sus
Slide 4: Two Shared Journeys
Two Shared Journeys Common History Legacy of manufacturing excellence for over 150 years Strong financial profiles, cash flows, and dividends Clear Strategy Leading positions in high growth markets Diverse and complimentary technology capabilities Powered by innovation Shared Vision Solving customer
Slide 5: A Powerful Combination
A Powerful Combination Strategic Fit Synergies Scale Complementary $65 million+ initial cost Increased importance with customers, products, and synergies with potential customers, suppliers and technologies for more investors ✓ Strengthens positions in key ✓ Highly achievable, run-rate of ✓ Global c
Slide 6: Global Scale and Footprint
Global Scale and Footprint Sales in 100+ 32% Countries Europe Manufacturing on 9% 58% 4 Americas APAC Continents ~7,500 Employees Manufacturing locations 6 Investor Presentation
Slide 7: Driving Customer Value
Driving Customer Value That deliver We combine To create critical For demanding essential raw materials components applications performance Filtration Key Specialty Manufacturing End-Product Inputs Attributes Protective Solutions • Fibers Media Value-add Processing • Purification • Polymers • Durabi
Slide 8: Advanced Technical Materials
Advanced Technical Materials ~65% Enterprise sales; diverse, GDP+ growth end-markets Protective Filtration Release Liners Healthcare Industrials Solutions Key • Transportation • Paint protection • Hygiene • Adv. woundcare • Tapes Applications • Water • Interlayer lamination • Labels • Device fixatio
Slide 9: Fiber-Based Solutions
Fiber-Based Solutions ~35% enterprise sales; defensible, leading positions in legacy markets Key Applications % Segment Sales Illustrative Offerings ▪ Premium ▪ Consumer Packaging & packaging products ~55% Specialty Papers ▪ Commercial print ▪ Digital transfer Engineered ▪ Combustibles ▪ Lightweight
Slide 10: How We Win
How We Win Customer-Centric Global Scale & Reach Enduring track record as a trusted We have worldwide scale and collaborator and innovator with blue resources with local assets and chip customers around the world service Solution Driven Material Science We make it happen; customized Deep technical e
Slide 11: Financial Overview
Financial Overview 11 Investor Presentation
Slide 12: Compelling Financial Profile
Compelling Financial Profile Better. Stronger. Together. Actuals YE 2021 Pro Forma ✓ Full year impact of 2021 strategic acquisitions Revenue $1.4B $1.0B ✓ ✓ Robust end-market demand Activation of pricing ~$3B actions ✓ Issued 2H:22 combined guidance of $210M - Adj. EBITDA(1) $209M $117M $230M in 2Q:
Slide 13: Clear Drivers of Revenue Growth
Clear Drivers of Revenue Growth Fueled by key trends, category dynamics, innovation, and synergies Filtration → Demand for cleaner air and water Aligned with key Protective Solutions → Adoption of paint protection films megatrends and Release Liners → Increased uses of adhesives robust category Heal
Slide 14: Multiple Catalysts to Expand Margins
Multiple Catalysts to Expand Margins Significant value creation potential Merger Synergy Details $65m+ Cost ‐ Highly achievable and well vetted Initial $65m+ cost target Synergies ‐ Additional upside from revenue, working capital Tangible upside from strategic fit Size ‐ Ability to recover input cos
Slide 15: Thoughtful Capital Allocation
Thoughtful Capital Allocation De-levering a priority ~3.75x or below by YE 2022; expect to reach long-term target 2.5-3.5x in 2023 Renewed debt structure Ample liquidity, staggered maturities; target ~75% fixed interest rate (see appendix for detail) Capital spending Historical 3-4% of sales; expans
Slide 16: Strong Transition to a Powerful Future
Strong Transition to a Powerful Future Together, 2Q:22 Results and Update Solid 2Q results for legacy businesses despite persistent inflation… poised for continued momentum as Mativ ✓ First-half results consistent with previous annual guidance ✓ Merger closed in early July ✓ Integration underway and
Slide 17: Investment Highlights
Investment Highlights New beginning. Tremendous opportunity. Leadership Positions Material Sciences In attractive global market Extensive expertise with deep categories moats for defensibility Growth Potential Synergies Multiple drivers support positive Clear pathway to margin expansion, outlook hig
Slide 18: Contact Us
Contact Us Visit our website: www.mativ.com Email: investors@mativ.com Phone Number: 770-569-4229 18 Investor Presentation
Slide 19: Appendix
Appendix 19 Investor Presentation
Slide 20: Executive Leadership
Executive Leadership Diverse. Global. Experienced. Julie Schertell President & Chief Executive Officer Andy Wamser Mike Rickheim Natalie Poteran Chief Financial Chief Human Chief Transformation Officer Resources Officer & Officer Administrative Officer Omar Hoek ~ Ricardo Nunez Sarma Malladi Chief O
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures Certain financial measures and comments contained in this presentation are “non-GAAP” financial measures. We believe that investors’ understanding is enhanced by disclosing these non-GAAP financial measures as a reasonable basis for comparison of our ongoing results of op
Slide 22: GAAP Reconciliation
GAAP Reconciliation SWM Historical(1) Adjusted EBITDA from Continuing Operations ($ millions): FY 2017 FY 2018 FY 2019 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Q1 2022 Q2 2022 Net Income $ 34.5 $ 94.5 $ 85.8 $ 83.8 $ 21.6 $ 1.8 $ 12.2 $ 53.3 $ 88.9 $ 1.6 $ 11.8 Plus: Loss (income) from discon
Slide 23: GAAP Reconciliation
GAAP Reconciliation Neenah Historical(1) Adjusted EBITDA from Continuing Operations ($ millions): FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 LTM Q2 2022 Net Income (Loss) $80.3 $ 36.4 $ 55.4 ($ 15.8) ($ 24.9) Loss from Discontinued Operations - 0.8 - - - Income (Loss) from Continuing Operations 80.3 37
Slide 24: Mativ Debt Structure
Mativ Debt Structure As of 7/6/22 $ millions As of 6/30/22 Change (Merger Close) $350mm Senior unsecured notes due 2026 $350 - $350 Senior unsecured $500mm secured revolving credit facility due 2023 389 (389) - notes due in 2026 $600mm secured revolving credit facility due 2027 - 289 289 represent e
Slide 25: Forward Looking Statements
Forward Looking Statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which
Slide 26: Forward Looking Statements (cont.)
Forward Looking Statements (cont.) the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk;
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