Orion Engineered Carbons (OEC) 6-K Usd Illustrative Financial Information

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