Element Solutions Inc. · NYSE:ESI
Element Solutions — Platform Specialty Products — Q1 2014 Earnings Presentation
8 slides from Element Solutions's earnings presentation, May 5, 2014
Slide 1: Q1 2014 Supplement
Q1 2014 Supplement May 5, 2014
Slide 2: Disclaimer
Disclaimer ! Please note that in this presenta/on, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-‐looking statements. Such discussion and statements will o@en contain words as “expect,” “an/cipate,” “believe,” “intend,” “plan” and “es/
Slide 3: Q1 2014 in Review
Q1 2014 in Review: ü Record Q1 Consolidated As Adjusted EBITDA of $45.9 million. ü Q1 2014 GP% of 52.3%, compared to 51.3% for Q1 2013 and 51.0% for Q4 2013 showing con/nued margin growth as a result of targeted product mix evolu/on (also a Q1 record). ü Consolidated working capital of 23%. ü El
Slide 4: Select Adjusted Financial Results Q1'14 vs. Q1'13
Pla>orm Select Adjusted Financial Results Q1’14 vs. Q1 ‘13 Predecessor/Successor Combined Q1#2014 Q1#2013 Prior#Year#Variance Adjusted# Adjusted Total&Sales $183.7& $182.1& $1.6& 0.9% Prop#Sales $174.6# $171.8# $2.8# 1.6% Gross&Profit $96.2& $93.4& $2.8& 3.0% GP%#Total 52.3% 51.3% SG&A&Costs $53.8&
Slide 5: Segment Trends
Pla>orm Segment Trends Predecessor/Successor Combined Q1#2012 Q1#2013 Q1#2014 Revenues#(in#$#millions) Performance#Materials $140.5# $138.8# $143.1# Graphic#Solutions $41.7# $43.3# $40.6# Total#Revenue $182.2# $182.1# $183.7# Segment#Adjusted#EBITDA#(in#$#millions)(1)(2) Performance#Materials $30.4#
Slide 6: Reconciliation of Net Income to Adjusted EBITDA
Pla>orm ReconciliaMon of Net Income to Adjusted EBITDA Predecessor/Successor Combined – Q1’14 vs. Q1’13 (in$$$millions) Q1$2013 Q1$2014 Net$income$(loss) $$$$$$$15.2 $$$$$$$$(7.4) Adjustments*to*reconcile*to*net*income*(loss):* Income$tax$expense$(benefit) $$$$$$$$$$$6.3 $$$$$$$$$$$2.1 Interest$expe
Slide 7: Reconciliation of Adjusted EBITDA to Gross Free Cash Flow
Pla>orm ReconciliaMon of Adjusted EBITDA to Gross Free Cash Flow Predecessor/Successor Combined (in$$$millions) Q1#2013 Q1#2014 Adjusted$EBITDA $40.9 $45.9 Gross$Capital$Expenditures $$$$$$$$$$$ 1.6 $$$$$$$$$$$ 2.0 Change$in$Net$Working$Capital $$$$$$$$$$ (2.3) $$$$$$$$$$ 11.9 Gross$Free$Cash$Flow $
Slide 8: As Adjusted EPS
Pla>orm As Adjusted EPS Predecessor/Successor Combined Q1#2014 Q1#2013 As#Adjusted#Net#Income#After#Tax: (1) $##############23.0 $##############20.0 As#Adjusted#EPS#Diluted: $0.17 $0.15 Diluted#Share#Count:# (2) ##############132.5 ##############132.5 (1)Net Income A@er Tax excludes income aoributab
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