Eastman Kodak Company · NYSE:KODK
Eastman Kodak — Q4 2020 Earnings Presentation
15 slides from Eastman Kodak's earnings presentation, Mar 16, 2021
Slide 1: Fourth Quarter 2020 Earnings Call
Fourth Quarter 2020 Earnings Call March 16, 2021
Slide 2: Cautionary Statement Regarding Forward-looking Statements
Cautionary Statement Regarding Forward-looking Statements Pursuant to Safe Harbor Provisions of The Private Securities Litigation Reform Act of 1995 Cautionary Statement Regarding Forward-Looking Statements This presentation includes “forward-looking statements” as that term is defined under the Pri
Slide 3: Agenda
Agenda Introduction Paul Dils, Chief Tax Officer and Director - of Investor Relations First line bullet point First line bullet point - Second line bullet point First line bullet point - CEO Third Perspective line Jim Continenza, Executive Chairman bullet point First line bullet point - Fourth l
Slide 4: CEO Perspective
CEO Perspective • COVID-19 update: • Fourth quarter results were impacted by COVID-19 as the pandemic continued to present challenges for companies around the world. • The company was able to mitigate some of the impacts through cost savings, including furloughs and pay reductions. • 2020 Achievemen
Slide 5: CEO Perspective
CEO Perspective • On March 1, 2021, announced a series of financial transactions that provide access to new capital, address maturing obligations, and strengthen the Company’s ability to invest in strategic growth opportunities in print, advanced materials and chemicals. • Financing Transactions wit
Slide 6: 2020 Full Year Results
2020 Full Year Results (Decline) / Improvement - ($ millions) FY 2020 FY 2019 $ Consolidated Revenue $1,029 $1,242 ($213) Less: Favorable Impact of Foreign Exchange 2 ($9) Less: License Revenue Received from HuaGuang Graphics Co. Ltd Transaction ($13) Adjusted Consolidated Revenue $1,020 $1,229 ($20
Slide 7: 2020 FY Cash Flow
2020 FY Cash Flow Twelve Months Ended December 31, ($ Millions) 2020 2019 Change Primary Drivers of Cash: Cash from Operations: Net (loss) income $ (541) $ 116 $ (657) Depreciation and amortization 37 55 (18) Pension income (77) (91) 14 Change in fair value of embedded conversion features derivative
Slide 8: Non-GAAP Measures
Non-GAAP Measures In this fourth quarter earnings presentation, reference is made to the following non-GAAP financial measures: • Cash and cash equivalents excluding debt, convertible preferred stock and deferred consideration on disposed businesses (“Net Debt”); • Revenues and Operational EBITDA on
Slide 9: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Cash, Cash Equivalents, Restricted Cash and Cash in Assets Held for Sale, end of period to Cash and cash equivalents excluding debt, convertible preferred stock and deferred consideration on disposed busine
Slide 10: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net (Loss) Income to Adjusted Net Income (Loss) for the twelve months ended December 31, 2020 and 2019, respectively: (in millions) FY 2020 FY 2019 $ Change Net (Loss) Income $ (541) $ 116 $ (657) Changes i
Slide 11: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net (Loss) Income to Operational EBITDA and Adjusted Operational EBITDA for the twelve months ended December 31, 2020 and 2019, respectively: (in millions) FY 2020 FY 2019 $ Change Net (Loss) Income $ (541)
Slide 12: Non-GAAP Measures
Non-GAAP Measures Footnote Explanations: (1) As reported in the Consolidated Statement of Operations. (2) Consulting and other costs are professional services and internal costs associated with certain corporate strategic initiatives and investigations, including the divestiture of FPD and debt refi
Slide 13: Appendix
APPENDIX 13
Slide 14: Full Year Financial Summary by Reportable Segment
Full Year Financial Summary by Reportable Segment ($ millions) Advanced Traditional Digital FY 2020 Actuals Materials & Brand Total Printing Printing Chemicals Revenue $ 592 $ 241 $ 172 $ 13 $ 1,018 Operational EBITDA (1) $ 21 $ (10) $ (23) $ 11 $ (1) Advanced Traditional Digital FY 2019 Actuals Mat
Slide 15: Thank You
i < Thank You
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