Ecovyst (ECVT) BMO Chemicals 2025 Conference presentation summary

Business profile and value proposition

• Industry leader in specialty catalysts and services with strong positions in key end uses.

• Long-term organic growth supported by demand for sustainable products and services.

• Revenue visibility from customer collaborations, specified products, and long-term contracts.

• Unit margin stability through price leverage and cost pass-through mechanisms.

• Attractive segment Adjusted EBITDA margins around 30% and strong cash generation, with $86 million Adjusted Free Cash Flow in 2024.

Segment performance and financial highlights

• Ecoservices segment reported $598 million in 2024 sales and $200 million Adjusted EBITDA, serving major North American refineries and industrial markets.

• Advanced Materials & Catalysts segment had $106 million in Advanced Silicas sales and $117 million in Zeolyst JV sales, with $65 million Adjusted EBITDA in 2024.

• Q1 2025 GAAP sales were $162 million, Adjusted EBITDA $39 million, and Adjusted EBITDA margin 20%.

• Net Debt Leverage Ratio stood at 3.2x as of March 31, 2025, with liquidity of $201 million.

Q1 2025 segment results

• Ecoservices Q1 2025 sales were $143.1 million, with Adjusted EBITDA of $28.5 million and margin of 19.9%.

• Advanced Materials & Catalysts Q1 2025 sales were $19.1 million for Advanced Silicas and $37.7 million for Zeolyst JV, with Adjusted EBITDA of $17.5 million and margin of 30.8%.

• Ecoservices faced lower sales volume due to scheduled turnarounds, impacting EBITDA.

• Zeolyst JV saw higher sales of hydrocracking and specialty catalysts, driving EBITDA growth.