FMC (FMC) 8-K Credit Suisse Basic Materials Conference

FMC Corporation

Credit Suisse Basic Materials Conference

Tuesday, May 6, 2008

Boston, MA

William G. Walter

Chairman, President and CEO

Exhibit 99.1

1

Disclaimer

Safe Harbor Statement under the

Private Securities Litigation Reform Act of 1995

These slides and the accompanying presentation contain “forward-looking

statements”

that represent management’s best judgment as of the date hereof

based on

information

currently

available.

Actual

results

of

the

Company

may

differ materially from those contained in the forward-looking statements. 

Additional information

concerning

factors

that

may

cause

results

to

differ

materially from those in the forward-looking statements is contained in the

Company’s periodic reports filed under the Securities Exchange Act of 1934, as

amended.

The Company undertakes no obligation to update or revise these forward-

looking statements to reflect new events or uncertainties.

Non-GAAP Financial Terms

These slides

contain

certain

“non-GAAP

financial

terms”

which

are

defined

in

the appendix.  In addition, we have provided reconciliations of non-GAAP terms

to the closest GAAP term in the appendix.

2

FMC Corporation

LTM ending March 31, 2008 ($ millions)

FMC

Revenue:

$2,709.0

EBITDA:

$542.3

Margin*:

20.0%

Industrial

Chemicals

Revenue:

$1,116.9

EBITDA:

$179.2

Margin*:

16.0%

Agricultural

Products

Revenue: 

$918.9

EBITDA:

$242.7

Margin*:

26.4%

Specialty

Chemicals

Revenue:

$677.0

EBITDA:

$178.9

Margin*:

26.4%

*

EBITDA margin

Leading Market Positions

Greater than 80% of Sales in Non-GDP Cyclical Markets

Diversified and Integrated Cost Structure

Limited Dependence on Petrochemical Feedstocks

3

Leading Market Positions

(1)

Based on 2007 consolidated sales

(2)

Shared

Industrial

Chemicals

#1 in N.A.

Soda Ash

#1 in N.A.

(2)

Peroxygens

#1 Globally

Carrageenan

#1 Globally

Carbofuran

#2 in N.A.

Pyrethroids

Agricultural

Products

#2 Globally

Alginates

Specialty

Chemicals

#1 Globally

(2)

#1 Globally

Lithium Specialties

Microcrystalline Cellulose

Product Group

Position

(1)

4

Diversified Customers and End Markets

Greater than 80% of sales to non-cyclical end markets

Long term relationships with blue chip customers

No single customer represents more than 5% of sales

Top 10 customers in total represent approximately

15% of sales

2007 Consolidated Sales

Agricultural 34%

Detergents 9%

Pharmaceuticals 11%

Food 8%

Other 12%

Glass/Fiberglass 4%

Chemicals 6%

Pulp & Paper 4%

Electronics 2%

Other 3%     

Bottle

Glass 3%

Non-Cyclical

81%

Cyclical

19%

Chemicals 4%

5

Diversified and Integrated Cost Structure

Low cost sourcing of raw materials

•

Backward integration: soda ash, lithium

•

Global sourcing of renewable resources: hardwood pulp, seaweed

Low reliance on purchased raw materials

•

Total raw materials represented 28% of cost of sales in 2007

•

No single raw material accounted for more than 8% of total raw material

purchases in 2007

•

Reduced volatility from limited use of petrochemical feedstocks

Low energy demand requirements

•

Energy represents approximately 13% of cost of sales

•

Sourced from natural gas, electricity, coal and fuel oil

6

Realizing the inherent operating leverage within FMC

•

Sustained earnings growth >10% per year

(1)

•

2008 expected to be the fifth straight year of growth in Industrial

Chemicals’

soda ash business

•

Continued growth in Specialty Chemicals and Agricultural Products

Maintaining financial strength and flexibility

•

Investing in higher growth businesses

•

Pursuing external growth opportunities

•

Returning cash to shareholders –

dividend and share repurchase

Focusing the portfolio on higher growth businesses

•

Managing Specialty Chemicals and Agricultural Products for growth

•

Managing Industrial Chemicals for cash

Disciplined Approach to Unlocking Value

(1)

Earnings before restructuring and other income and charges

7

Agricultural Products

Strong niche positions in the Americas, Europe and Asia

Proprietary, branded insecticides and herbicides

Strategic Focus:

•

Selected products, crops and regions

•

Shifting to significantly shorter innovation cycle

•

Reducing global supply chain and overhead costs

Based on 2007 Consolidated Sales of $889.7 million

Insecticides

57%

Herbicides

41%

Fungicides

2%

North

America

22%

Asia

Pacific

15%

EMEA

17%

Latin

America

46%

8

Agricultural Products

2008 segment earnings up in the low-to-mid teens driven by sales growth

and further supply chain productivity improvements, partially offset by

higher raw material costs.

9

Lithium

32%

BioPolymer

68%

Specialty Chemicals

BioPolymers

add structure, texture and stability to food and act

as binders & disintegrants

for dry tablet drugs

Lithium focus on downstream specialties -

pharmaceuticals and

energy storage devices

Strategic Focus:

•

Growing core market segments

•

Commercializing new technology platforms

•

Identifying financially attractive bolt-on acquisitions

Based on 2007 Consolidated Sales of $659.5 million

Latin

America

7%

Asia

Pacific

21%

EMEA

36%

North

America

36%

10

Specialty Chemicals

2008 segment earnings growth in the mid-single digits, as strong commercial

performance in

BioPolymer

and

lithium

specialties

and

the

benefit

of

continued productivity improvements are partially offset by lower selling

prices for primary lithium compounds and higher export taxes

11

Industrial Chemicals

#1 North American manufacturer of soda ash and peroxygens

Backward integration into natural resources

Low cost, proprietary production technologies

Strategic Focus:

•

Managing for cash generation

•

Continued top line growth driven primarily by higher selling prices

•

Aggressive cost management

Asia

7%

Based on 2007 Consolidated Sales of $1,087.1 million

Alkali

(Soda Ash)

52%

Peroxygens

16%

Foret

32%

North

America

48%

Latin

America

11%

EMEA

34%

Asia Pacific

7%

12

Industrial Chemicals

2008 segment earnings up 60-70 percent as aggregate price and volume

benefits more than offset higher raw material costs.

13

FMC in Summary

Great businesses, each with EBITDA  >$175 million

Sustained

double-digit

earnings

growth

(1)

Earnings leverage in Industrial Chemicals

Continued growth in Specialty Chemicals and Ag Products

Strategic and financial flexibility

Robust and growing EBITDA

Balance sheet de-leveraged

Low capex

requirements

Disciplined approach to unlocking value

(1)

Earnings before restructuring and other income and charges

FMC Corporation

Appendix

Glossary of Financial Terms

Reconciliations of GAAP to Non-GAAP

15

Non-GAAP Financial Terms

These slides

contain

certain

“non-GAAP

financial

terms”

which

are

defined

below. In addition, we have provided reconciliations of non-GAAP terms to

the closest GAAP term in the appendix of this presentation.

EBITDA

(Earnings Before Interest, Taxes, Depreciation and Amortization)

is the

sum

of Income (loss) from continuing operations before income taxes

and

Depreciation and Amortization.

EBITDA Margin

is

the

quotient

of

EBITDA

(defined

above)

divided

by

Revenue.

ROIC

(Return

on

Invested

Capital)

is

the

sum

of

Earnings

from

continuing

operations before

restructuring

and

other

income

and

charges

and

after-tax

Interest expense

divided by the sum

of Short-term debt, Current portion of

long-term debt,

Long-term

debt

and

Total

shareholders’

equity.

16

Segment Financial Terms

These slides

contain

references

to

segment

financial

items

which

are

presented in

detail

in

Note

19

of

FMC’s

first

quarter

2008

Form

10-Q.

Some

of the

segment

financial

terms

are

“non-GAAP

financial

terms”

and

are

defined below. In addition, we have provided reconciliations of non-GAAP

terms to the closest GAAP term in the appendix of this presentation. 

EBITDA

(Earnings Before Interest, Taxes, Depreciation and Amortization)

for a segment

is the

sum

of Income (loss) from continuing operations before

income taxes

for

that

segment

and

Depreciation

and

Amortization

for

that

segment.

EBITDA Margin

for

a

segment

is

the

quotient

of

EBITDA

(defined

above)

divided by Revenue

for that segment.

17

Reconciliation of LTM 3/31/2008 consolidated income from continuing operations before income

taxes (a GAAP measure) to LTM 3/31/2008 EBITDA (a Non-GAAP measure)

EBITDA Reconciliation: LTM 3/31/08

(Unaudited, in $ millions)

LTM 3/31/2008

Income (loss) from continuing operations before income taxes

$252.8

Add:

Restructuring and other charges/(income), net 

122.8

Interest expense, net

35.2

Depreciation and amortization

130.2

EBITDA (Non-GAAP)

$542.3

Loss on Extinguishment of Debt

0.3

In-process research and development

1.0

18

Reconciliation

of

LTM

3/31/2008

segment

operating

profit

(a

GAAP

measure)

to LTM

3/31/2008

EBITDA

(a

Non-GAAP

measure)

(

Unaudited, in millions)

Industrial

Specialty

Agricultural

Segment

Chemicals

Chemicals

Products

LTM 3/31/2008 segment operating profit (GAAP)

$110.6

$146.6

$219.1

Add:

Depreciation and amortization

68.6

32.3

23.6

LTM 3/31/2008 EBITDA (Non-GAAP)

$179.2

$178.9

$242.7

Segment EBITDA Reconciliation

FMC Corporation