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Q3 2015 Earnings Call – Ashland Inc.

Ashland Inc. · Jul 29, 2015 · 29 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2015 Earnings Call – Ashland Inc. – slide 1
    Third-Quarter Fiscal 2015 Earnings July 29, 2015 Registered trademark, Ashland or its subsidiaries, registered in various countries Trademark, Ashland or its subsidiaries, registered in various countries
  2. Q3 2015 Earnings Call – Ashland Inc. – slide 2
    Fiscal Third Quarter 2015 Highlights1 Factors affecting year-over-year EBITDA (, Millions) Sales Adj. EBITDA margin (, Millions) 1,800 30% 22.3% 22 10 1,605 21.2% 1,350 1,350 1,367 20% 298 319 (17) (11) (12) 290 18.6%…
  3. Q3 2015 Earnings Call – Ashland Inc. – slide 3
    Fiscal Third Quarter Continuing Operations Key Items Affecting Income ( in millions, except EPS) Operating Income Total Preliminary Ashland Ashland Unallocated Specialty Performance and Earnings 2015 Ingredients Materials…
  4. Q3 2015 Earnings Call – Ashland Inc. – slide 4
    Adjusted Results Summary1 ( in millions) Fiscal Third Quarter Three months ended Preliminary Three months ended June 30, March 31, 2015 2014 Change 2015 Change Sales 1,367 1,605 (15) % 1,350 1 % Gross profit as a percent of sales 31.5 %…
  5. Q3 2015 Earnings Call – Ashland Inc. – slide 5
    Ashland Specialty Ingredients Adjusted Results Summary1 ( in millions) Fiscal Third Quarter Three months ended Preliminary Three months ended June 30, March 31, 2015 2014 Change 2015 Change Metric tons sold (in thousands) - Actives basis…
  6. Q3 2015 Earnings Call – Ashland Inc. – slide 6
    Ashland Specialty Ingredients Revenue and Adjusted EBITDA Bridges1 ( millions) Preliminary Q3 FY 2014 versus Q3 FY 2015 +1% 653 -1% -5% Revenue -1% -4% 579 Q3 2014 Vol/Mix Price Currency Acq/Div/ Impact from Q3 2015…
  7. Q3 2015 Earnings Call – Ashland Inc. – slide 7
    Ashland Performance Materials Adjusted Results Summary1 ( in millions) Fiscal Third Quarter Three months ended Preliminary Three months ended June 30, March 31, 2015 2014 Change 2015 Change Metric tons sold (in thousands) 118.2 154.7…
  8. Q3 2015 Earnings Call – Ashland Inc. – slide 8
    Ashland Performance Materials Bridge of Items Affecting EBITDA ( millions) Preliminary Q3 FY 2014 versus Q3 FY 2015 10 1 53 55 (2) (9) (12) (14) 27 Q3 2014 Volume/ Margin SG&A Underlying Currency Acq/Div Shutdown Q3 2015 Mix…
  9. Q3 2015 Earnings Call – Ashland Inc. – slide 9
    Valvoline Results Summary1 ( in millions) Fiscal Third Quarter Three months ended Preliminary Three months ended June 30, March 31, 2015 2014 Change 2015 Change Lubricant gallons (in millions) 44.4 42.8 4 % 40.5 10 % Sales 510 532 (4) %…
  10. Q3 2015 Earnings Call – Ashland Inc. – slide 10
    Fiscal Third Quarter 2015 Corporate Items Adjusted effective tax rate of 22.0% FY 2015 expectation now at 23-25% Trade Working Capital1 ended quarter at 19.0% of sales Capital expenditures totaled 61 million Full-year 2015…
  11. Q3 2015 Earnings Call – Ashland Inc. – slide 11
    Corporate Actions to Create Value Fiscal Year 2015 Actions Ashland has taken to improve risk profile, increase earnings, and enhance free cash flow. Extended debt maturities at lower interest rate Executed 1.1 billion five-year term…
  12. Q3 2015 Earnings Call – Ashland Inc. – slide 12
    Appendix A: Bridges
  13. Q3 2015 Earnings Call – Ashland Inc. – slide 13
    Ashland Q3 FY 2014 vs. Q3 FY 2015 Revenue Bridge ( millions) Preliminary 0% 1,605 -3% -5% -5% -2% 1,367 Q3 2014 Volume Price Currency Acq/Div/ Energy Q3 2015 Other1 Volume growth across most end markets offset by currency…
  14. Q3 2015 Earnings Call – Ashland Inc. – slide 14
    Ashland Q3 FY 2014 vs. Q3 FY 2015 Adjusted EBITDA Bridge ( millions) Preliminary 22 10 298 (11) (17) (12) 290 Q3 2014 Volume/ Margin SG&A Currency Other Q3 2015 Mix Expenses Translation Strong margins and SG&A cost savings…
  15. Q3 2015 Earnings Call – Ashland Inc. – slide 15
    Ashland Specialty Ingredients Adjusted EBITDA Bridge ( millions) Preliminary Q3 FY 2014 versus Q3 FY 2015 9 2 1 142 (5) (12) 137 Q3 2014 Volume/ Margin SG&A Currency Other Q3 2015 Mix Expenses Translation Manufacturing and…
  16. Q3 2015 Earnings Call – Ashland Inc. – slide 16
    Ashland Performance Materials Adjusted EBITDA Bridge ( millions) Preliminary Q3 FY 2014 versus Q3 FY 2015 53 1 (9) (4) (2) (12) 27 Q3 2014 Volume/ Margin SG&A Currency Other Q3 2015 Mix Expenses Translation Turnaround and…
  17. Q3 2015 Earnings Call – Ashland Inc. – slide 17
    Valvoline Adjusted EBITDA Bridge ( millions) Preliminary Q3 FY 2014 versus Q3 FY 2015 17 1 3 (3) (1) 116 99 Q3 2014 Volume/ Margin SG&A Currency Other Q3 2015 Mix Expenses Translation Lower input costs, disciplined pricing…
  18. Q3 2015 Earnings Call – Ashland Inc. – slide 18
    Appendix B: Volume Trends and Liquidity and Net Debt
  19. Q3 2015 Earnings Call – Ashland Inc. – slide 19
    Normalized Volume Trends1 110% Rolling Four Quarters 105% 100% 2 2 Specialty Ingredients Performance Materials Valvoline 95% Jun '13 Sept '13 Dec '13 Mar '14 Jun '14 Sept '14 Dec '14 Mar '15 Jun '15 Period Ended 20…
  20. Q3 2015 Earnings Call – Ashland Inc. – slide 20
    Liquidity and Net Debt ( in millions) At June 30, Liquidity 2015 Scheduled Debt Repayments Cash 1,113 by Fiscal Year Available revolver and A/R facility capacity 1,147 Liquidity 2,260 1,125 Interest At June 30, Debt Expiration…
  21. Q3 2015 Earnings Call – Ashland Inc. – slide 21
    Appendix C: Business Profiles 12 Months Ended June 30, 2015
  22. Q3 2015 Earnings Call – Ashland Inc. – slide 22
    Corporate Profile Sales1 - 5.6 Billion By commercial unit By geography Ashland Specialty Europe Ingredients 42% Ashland North 24% Performance America2 Materials 23% 53% Asia Pacific 16% Valvoline Latin 35% America/ Other…
  23. Q3 2015 Earnings Call – Ashland Inc. – slide 23
    Corporate Profile Adjusted EBITDA1 - 1.1 Billion Ashland Performance NYSE Ticker Symbol: ASH Materials 13% Total Employees: 10,000 Ashland Outside North America 30% Specialty Valvoline Ingredients 37% 50% Number of…
  24. Q3 2015 Earnings Call – Ashland Inc. – slide 24
    Ashland Specialty Ingredients A global leader of cellulose ethers and vinyl pyrrolidones Sales Sales Sales by Market2 by Product by Geography Coatings PVP Asia 15% Adhesive 18% Pacific 12% Europe 32% 19% Pharma 15% Guar - 3%…
  25. Q3 2015 Earnings Call – Ashland Inc. – slide 25
    Ashland Performance Materials Global leader in unsaturated polyester resins and vinyl ester resins Sales Sales Sales by Market by Product by Geography Other Europe Process Intermediates/ 35% Industries Solvents 27% Marine 13%…
  26. Q3 2015 Earnings Call – Ashland Inc. – slide 26
    Valvoline: A leading worldwide producer and distributor of premium-branded lubricants and automotive chemicals Sales Sales International Sales by Market by Product by Region2 DIFM: Australia Valvoline Instant Oil Valvoline 22%…
  27. Q3 2015 Earnings Call – Ashland Inc. – slide 27
    Appendix D: Non-GAAP Reconciliation
  28. Q3 2015 Earnings Call – Ashland Inc. – slide 28
    Ashland Inc. and Consolidated Subsidiaries Reconciliation of Non-GAAP Data for 12 Months Ended June 30, 2015 ( millions, except percentages) 1 Sales Q3 15 Q2 15 Q1 15 Q4 14 Total Specialty Ingredients 579 583 561 635 2,358…
  29. Q3 2015 Earnings Call – Ashland Inc. – slide 29

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