EX-99.1 2 a2018-05x04usdsummary.htm USD SUMMARY Exhibit


Selected Illustrative Financial Information
unaudited
in USD m
Q1 2017
 
FY 2017
FY 2016
FY 2015
'17 vs '16
'16 vs '15
Revenue
324.1

 
1,328.3

1,139.3

1,234.5

189.0

(95.2
)
Volume (in kmt)
275.1

 
1,087.4

1,127.9

1,035.2

(40.5
)
92.7

 
 
 
 
 
 
 
 
Contribution Margin
129.9

 
524.5

519.3

486.6

5.2

32.7

CM per ton (in USD)
472.2

 
482.4

460.5

470.1

21.9

(9.6
)
 
 
 
 
 
 
 
 
Adj. EBITDA
62.6

 
257.0

246.7

231.6

10.3

15.1

Specialties
34.2

 
145.5

151.5

127.5

(6.0
)
24.0

Rubber
28.4

 
111.5

95.2

104.1

16.3

(8.9
)
 
 
 
 
 
 
 
 
Net Income
16.8

 
75.3

49.2

48.1

26.1

1.1

EPS (in USD)
0.28

 
1.27

0.83

0.81

0.44

0.02

Adj. EPS (in USD)
0.38

 
1.62

1.50

1.32

0.12

0.18

 
 
 
 
 
 
 
 
 
 
 
FY 2017
FY 2016
FY 2015
'17 vs '16
'16 vs '15
NWC
 
 
224.0

191.7

199.2

32.3

(7.5
)
 
 
 
 
 
 
 
 
 
Q1 2017
 
FY 2017
FY 2016
FY 2015
'17 vs '16
'16 vs '15
Operating Cash Flow
18.6

 
173.3

219.3

237.2

(46.0
)
(17.9
)
Investing Cash Flow
(18.3
)
 
(90.3
)
(68.5
)
(83.0
)
(21.8
)
14.5

Financing Cash Flow
(32.1
)
 
(94.4
)
(143.6
)
(157.1
)
49.2

13.5

 
 
 
 
 
 
 
 
 
 
 
FY 2017
FY 2016
FY 2015
'17 vs '16
'16 vs '15
Cash
 
 
72.3

77.9

71.1

(5.6
)
6.8

local borrowings
 
 
(12.5
)
 
 
(12.5
)
 
Net Cash
 
 
59.8

77.9

71.1

(18.1
)
6.8

 
 
 
 
 
 
 
 
 
Q1 2017
 
FY 2017
FY 2016
FY 2015
'17 vs '16
'16 vs '15
Total Adjustment Items
3.2

 
20.2

32.3

14.3

(12.1
)
18.0

Restructuring expenses
0.4

 
5.2

19.8

—

(14.6
)
19.8

Consulting fees
0.2

 
2.8

2.8

1.6

—

1.2

Long Term Incentive Plan
1.6

 
8.8

4.0

1.0

4.8

3.0

Other adjustments
1.0

 
3.4

5.7

11.7

(2.3
)
(6.0
)
 
 
 
 
 
 
 
 
 
Q1 2017
 
FY 2017
FY 2016
FY 2015
'17 vs '16
'16 vs '15
EBIT
37.0

 
139.2

115.6

135.8

23.6

(20.2
)
NRI
3.2

 
20.2

32.3

14.3

(12.1
)
18

Depreciation
22.2

 
97.1

98.4

80.9

(1.3
)
17.5

DGW
0.1

 
0.5

0.5

0.5

—

—

Rounding
0.1

 
—

(0.1
)
0.1

0.1

(0.2
)
Adjusted EBITDA
62.6

 
257.0

246.7

231.6

10.3

15.1

 
 
 
 
 
 
 
 





T-1


Consolidated income statements of Orion Engineered Carbons S.A.
for the first quarter 2017 and three years ended December 31, 2017 - unaudited
 
First Quarter
 
Fiscal Year
 
Change FY 2017 vs FY 2016
 
Change FY 2016 vs FY 2015
in USD k
2017
 
2017
2016
2015
 
total
in %
 
total
in %
Revenue
324,065

 
1,328,297

1,139,291

1,234,472

 
189,006

16.6

 
(95,181
)
(7.7
)
Cost of sales
228,527

 
950,701

764,856

879,401

 
185,845

24.3

 
(114,545
)
(13.0
)
Gross profit
95,538

 
377,596

374,435

355,071

 
3,161

0.8

 
19,364

5.5

Selling expenses
30,745

 
129,959

126,667

119,921

 
3,292

2.6

 
6,746

5.6

Research and development costs
4,188

 
18,159

16,069

14,837

 
2,090

13.0

 
1,232

8.3

General and administrative expenses
20,137

 
77,534

75,790

68,836

 
1,744

2.3

 
6,954

10.1

Other operating income
147

 
5,000

6,289

8,257

 
(1,289
)
(20.5
)
 
(1,968
)
(23.8
)
Other operating expenses
3,193

 
12,581

15,336

23,923

 
(2,755
)
(18.0
)
 
(8,587
)
(35.9
)
other oper. inc.&exp. net
3,046

 
7,581

9,047

15,666

 
(1,466
)
(16.2
)
 
(6,619
)
(42.3
)
Segment Restructuring
403

 
5,210

31,304

—

 
(26,094
)
(83.4
)
 
31,304

>100

Operating result (EBIT)
37,019

 
139,153

115,558

135,811

 
23,595

20.4

 
(20,253
)
(14.9
)
Finance result, net
10,370

 
41,368

41,334

62,099

 
(34.0
)
0.1

 
20,765

(33.4
)
Share of profit of JV
129

 
547

462

547

 
85

18.4

 
(85
)
(15.5
)
Financial result
10,241

 
40,821

40,872

61,552

 
(51
)
(0.1
)
 
(20,680
)
(33.6
)
Profit before taxes
26,778

 
98,332

74,686

74,259

 
23,646

31.7

 
427

0.6

Income taxes
9,963

 
23,070

25,453

26,204

 
(2,383
)
(9.4
)
 
(751
)
(2.9
)
Profit for the period
16,815

 
75,262

49,233

48,055

 
26,029

52.9

 
1,178

2.5

EPS in USD
0.28

 
1.27

0.83

0.81

 
0.44

53.0

 
0.02

2.9



T-2


Consolidated statements of financial position of Orion Engineered Carbons S.A.
as at December 31, 2017, 2016 and 2015 - unaudited
 
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
 
 
 
 
 
 
 
A S S E T S
 
In USD k
 
In USD k
 
In USD k
Non‑current assets
 
 
 
 
 
 
Goodwill
 
58,180

 
51,136

 
52,815

Other intangible assets
 
70,722

 
82,203

 
103,212

Property, plant and equipment
 
462,129

 
408,703

 
420,081

Investment in joint ventures
 
5,585

 
4,909

 
5,071

Other financial assets
 
3,564

 
2,296

 
3,320

Other assets
 
3,883

 
3,013

 
4,025

Deferred tax assets
 
43,546

 
64,252

 
60,155

 
 
647,609

 
616,512

 
648,679

Current assets
 
 
 
 
 
 
Inventories
 
159,334

 
120,537

 
114,434

Trade receivables
 
234,273

 
200,809

 
187,390

Other financial assets
 
3,890

 
5,549

 
3,403

Other assets
 
35,038

 
23,174

 
22,124

Income tax receivables
 
16,377

 
8,121

 
9,526

Cash and cash equivalents
 
72,284

 
77,906

 
71,050

 
 
521,196

 
436,096

 
407,927

 
 
1,168,805

 
1,052,608

 
1,056,606

 
 
 
 
 
 
 
 
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
 
 
 
 
 
 
 
E Q U I T Y A N D L I A B I L I T I E S
 
In USD k
 
In USD k
 
In USD k
Equity
 
 
 
 
 
 
Subscribed capital
 
83,770

 
83,770

 
83,770

Treasury shares
 
(3,773
)
 
(3,773
)
 
—

Reserves
 
(55,403
)
 
(73,487
)
 
(77,732
)
Profit for the period
 
75,262

 
49,233

 
48,055

 
 
99,856

 
55,743

 
54,093

Non-current liabilities
 
 
 
 
 
 
Pension provisions
 
65,390

 
57,697

 
48,985

Other provisions
 
13,344

 
14,490

 
16,827

Financial liabilities
 
680,699

 
646,858

 
708,506

Other liabilities
 
6

 
448

 
150

Deferred tax liabilities
 
25,121

 
46,968

 
43,605

 
 
784,560

 
766,461

 
818,073

Current liabilities
 
 
 
 
 
 
Other provisions
 
59,471

 
63,305

 
41,433

Trade payables
 
169,624

 
129,563

 
102,569

Other financial liabilities
 
7,013

 
5,760

 
5,172

Income tax liabilities
 
15,539

 
17,666

 
17,902

Other liabilities
 
32,742

 
14,110

 
17,364

 
 
284,389

 
230,404

 
184,440

 
 
1,168,805

 
1,052,608

 
1,056,606


T-3


Consolidated statements of cash flows of Orion Engineered Carbons S.A.
for the first quarter 2017 and three years ended December 31, 2017 - unaudited
 
 
Q1-2017
 
2017
 
2016
 
2015
 
 
In USD k
 
In USD k
 
In USD k
 
In USD k
 
 
 
 
 
 
 
 
 
Profit for the period
 
16,815

 
75,262

 
49,233

 
48,055

Income taxes
 
9,963

 
23,070

 
25,453

 
26,204

Profit before income taxes
 
26,778

 
98,332

 
74,686

 
74,259

Depreciation and impairment of property, plant and equipment and amortization of intangible assets
 
22,242

 
97,074

 
98,401

 
80,868

Other non-cash expenses
 
2,019

 
10,589

 
3,267

 
178

(Increase)/decrease in trade receivables
 
(16,472
)
 
(15,885
)
 
(15,811
)
 
51,583

(Increase)/decrease in inventories
 
(12,659
)
 
(25,632
)
 
(9,328
)
 
30,007

Increase/(decrease) in trade payables
 
4,510

 
17,545

 
32,464

 
(33,160
)
Increase/(decrease) in provisions
 
(19,897
)
 
(14,376
)
 
18,490

 
(9,482
)
Increase/(decrease) in other assets and liabilities that cannot be allocated to investing or financing activities
 
5,164

 
3,823

 
(4,552
)
 
(7,826
)
Finance income
 
(8,340
)
 
(44,287
)
 
(27,833
)
 
(19,768
)
Finance costs
 
18,710

 
85,655

 
69,167

 
81,867

Cash paid for income taxes
 
(3,483
)
 
(39,549
)
 
(19,652
)
 
(11,292
)
Cash flows from operating activities
 
18,572

 
173,289

 
219,299

 
237,234

Cash paid for the acquisition of intangible assets and property, plant and equipment
 
(18,298
)
 
(90,282
)
 
(70,864
)
 
(57,190
)
Cash flows to acquire entities less cash acquired
 
—

 
—

 
2,360

 
(25,809
)
Cash flows from investing activities
 
(18,298
)
 
(90,282
)
 
(68,504
)
 
(82,999
)
Share buyback
 
—

 
—

 
(3,773
)
 
—

Proceeds from borrowings, net of transaction costs
 
—

 
11,890

 
—

 
—

Repayments of non-current financial liabilities
 
(22,674
)
 
(28,866
)
 
(51,821
)
 
(62,295
)
Cash inflows related to current financial liabilities
 
6,135

 
11,652

 
—

 
(5,727
)
Cash outflows related to current financial liabilities
 
—

 
(12,141
)
 
—

 
—

Interest and similar expenses paid
 
(6,515
)
 
(42,601
)
 
(47,179
)
 
(45,739
)
Interest and similar income received
 
1,750

 
11,369

 
3,294

 
958

Dividends paid to shareholders
 
(10,786
)
 
(45,705
)
 
(44,131
)
 
(44,291
)
Cash flows from financing activities
 
(32,090
)
 
(94,402
)
 
(143,610
)
 
(157,094
)
 
 
 
 
 
 
 
 
 
Change in cash
 
(31,816
)
 
(11,395
)
 
7,185

 
(2,859
)
Change in cash resulting from exchange rate differences
 
2,416

 
5,773

 
(329
)
 
(11,738
)
Cash and cash equivalents at the beginning of the period
 
77,906

 
77,906

 
71,050

 
85,647

Cash and cash equivalents at the end of the period
 
48,506

 
72,284

 
77,906

 
71,050





T-4