Exhibit 99.1
In $ millions except where noted as %
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| | 2013 | | | 2014 | |
| | 1st Quarter | | | 2nd Quarter | | | 3rd Quarter | | | 4th Quarter | | | Total Year | | | 1st Quarter | | | 2nd Quarter | | | 3rd Quarter | | | 4th Quarter | | | Total Year | |
Net sales: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Performance Chemicals | | $ | 409.9 | | | $ | 422.7 | | | $ | 408.0 | | | $ | 380.7 | | | $ | 1,621.3 | | | $ | 391.7 | | | $ | 397.1 | | | $ | 417.1 | | | $ | 390.0 | | | $ | 1,595.9 | |
Refining Solutions | | | 178.4 | | | | 174.8 | | | | 173.0 | | | | 249.0 | | | | 775.2 | | | | 194.7 | | | | 205.0 | | | | 218.9 | | | | 233.5 | | | | 852.1 | |
Chemetall Surface Treatment | | | 184.5 | | | | 191.1 | | | | 193.7 | | | | 200.9 | | | | 770.2 | | | | 203.7 | | | | 212.4 | | | | 208.8 | | | | 201.9 | | | | 826.8 | |
All other | | | 147.3 | | | | 132.6 | | | | 159.1 | | | | 152.8 | | | | 591.8 | | | | 161.2 | | | | 149.2 | | | | 151.1 | | | | 123.5 | | | | 585.0 | |
Corporate | | | 3.5 | | | | 3.5 | | | | 3.3 | | | | 3.3 | | | | 13.6 | | | | 3.1 | | | | 3.3 | | | | 2.8 | | | | 1.4 | | | | 10.6 | |
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Total net sales | | $ | 923.6 | | | $ | 924.7 | | | $ | 937.1 | | | $ | 986.7 | | | $ | 3,772.1 | | | $ | 954.4 | | | $ | 967.0 | | | $ | 998.7 | | | $ | 950.3 | | | $ | 3,870.4 | |
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Adjusted EBITDA: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Performance Chemicals | | $ | 146.2 | | | $ | 149.1 | | | $ | 137.8 | | | $ | 116.2 | | | $ | 549.3 | | | $ | 115.2 | | | $ | 119.5 | | | $ | 128.2 | | | $ | 123.6 | | | $ | 486.5 | |
Adjusted EBITDA Margin | | | 36 | % | | | 35 | % | | | 34 | % | | | 31 | % | | | 34 | % | | | 29 | % | | | 30 | % | | | 31 | % | | | 32 | % | | | 30 | % |
Refining Solutions | | | 38.9 | | | | 35.9 | | | | 45.6 | | | | 70.1 | | | | 190.5 | | | | 61.0 | | | | 66.6 | | | | 61.7 | | | | 67.2 | | | | 256.5 | |
Adjusted EBITDA Margin | | | 22 | % | | | 21 | % | | | 26 | % | | | 28 | % | | | 25 | % | | | 31 | % | | | 32 | % | | | 28 | % | | | 29 | % | | | 30 | % |
Chemetall Surface Treatment | | | 40.4 | | | | 44.4 | | | | 45.9 | | | | 47.4 | | | | 178.1 | | | | 46.4 | | | | 49.1 | | | | 51.5 | | | | 47.3 | | | | 194.3 | |
Adjusted EBITDA Margin | | | 22 | % | | | 23 | % | | | 24 | % | | | 24 | % | | | 23 | % | | | 23 | % | | | 23 | % | | | 25 | % | | | 23 | % | | | 24 | % |
All other | | | 22.6 | | | | 19.1 | | | | 27.2 | | | | 26.3 | | | | 95.2 | | | | 27.6 | | | | 28.6 | | | | 27.4 | | | | 14.7 | | | | 98.3 | |
Adjusted EBITDA Margin | | | 15 | % | | | 14 | % | | | 17 | % | | | 17 | % | | | 16 | % | | | 17 | % | | | 19 | % | | | 18 | % | | | 12 | % | | | 17 | % |
Corporate | | | (36.5 | ) | | | (31.3 | ) | | | (25.6 | ) | | | (36.0 | ) | | | (129.4 | ) | | | (33.9 | ) | | | (33.4 | ) | | | (32.6 | ) | | | (27.4 | ) | | | (127.3 | ) |
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Total adjusted EBITDA | | $ | 211.6 | | | $ | 217.2 | | | $ | 230.9 | | | $ | 224.0 | | | $ | 883.7 | | | $ | 216.3 | | | $ | 230.4 | | | $ | 236.2 | | | $ | 225.4 | | | $ | 908.3 | |
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Foreign exchange (gain) loss on financing activities | | $ | 15.1 | | | $ | (4.6 | ) | | $ | 31.2 | | | $ | 25.4 | | | $ | 67.1 | | | $ | 0.6 | | | $ | (6.4 | ) | | $ | (55.1 | ) | | $ | (57.2 | ) | | $ | (118.1 | ) |
Non-operating pension and OPEB costs (benefit) | | | (2.1 | ) | | | (1.5 | ) | | | (1.8 | ) | | | (140.9 | ) | | | (146.3 | ) | | | 14.1 | | | | (1.3 | ) | | | 1.5 | | | | 111.2 | | | | 125.5 | |
Acquisition, disposal and integration related costs | | | 1.8 | | | | 1.7 | | | | 2.2 | | | | 3.2 | | | | 8.9 | | | | 1.1 | | | | 0.5 | | | | 21.6 | | | | 26.8 | | | | 50.0 | |
Restructuring and other charges, net | | | 6.3 | | | | 2.3 | | | | 4.6 | | | | 37.7 | | | | 50.9 | | | | 21.1 | | | | 9.7 | | | | 1.7 | | | | 4.8 | | | | 37.3 | |
Other | | | 2.3 | | | | 6.8 | | | | 0.1 | | | | 2.2 | | | | 11.4 | | | | 0.5 | | | | 4.2 | | | | 9.1 | | | | 11.7 | | | | 25.5 | |
Depreciation and amortization | | | 44.6 | | | | 46.4 | | | | 47.5 | | | | 50.4 | | | | 188.9 | | | | 49.8 | | | | 50.8 | | | | 50.2 | | | | 48.0 | | | | 198.8 | |
Interest expense, net | | | 28.6 | | | | 30.9 | | | | 30.7 | | | | 23.6 | | | | 113.8 | | | | 23.0 | | | | 22.3 | | | | 22.2 | | | | 27.9 | | | | 95.4 | |
Income Taxes | | | 26.3 | | | | 29.4 | | | | 18.0 | | | | 50.7 | | | | 124.4 | | | | 26.0 | | | | 34.1 | | | | 51.1 | | | | (0.1 | ) | | | 111.1 | |
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Net income from continuing operations | | $ | 88.7 | | | $ | 105.8 | | | $ | 98.4 | | | $ | 171.7 | | | $ | 464.6 | | | $ | 80.1 | | | $ | 116.5 | | | $ | 133.9 | | | $ | 52.3 | | | $ | 382.8 | |
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Gain (loss) on discontinued operations | | $ | 13.1 | | | $ | 8.0 | | | $ | 1,103.3 | | | $ | 484.1 | | | $ | 1,608.5 | | | $ | (44.3 | ) | | $ | (47.4 | ) | | $ | 24.8 | | | $ | (19.1 | ) | | $ | (86.0 | ) |
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Net Income Attributable to the company - Combined | | $ | 101.8 | | | $ | 113.8 | | | $ | 1,201.7 | | | $ | 655.8 | | | $ | 2,073.1 | | | $ | 35.8 | | | $ | 69.1 | | | $ | 158.7 | | | $ | 33.2 | | | $ | 296.8 | |
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Net income attributable to Albemarle Corporation | | | 84.0 | | | | 82.7 | | | | 90.5 | | | | 156.0 | | | | 413.2 | | | | 56.6 | | | | 22.4 | | | | 72.8 | | | | (18.5 | ) | | | 133.3 | |
Net income attributable to Rockwood | | | 17.8 | | | | 31.1 | | | | 1,111.2 | | | | 499.8 | | | | 1,659.9 | | | | (20.8 | ) | | | 46.7 | | | | 85.9 | | | | 51.7 | | | | 163.5 | |
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Net income attributable to the company - Combined | | $ | 101.8 | | | $ | 113.8 | | | $ | 1,201.7 | | | $ | 655.8 | | | $ | 2,073.1 | | | $ | 35.8 | | | $ | 69.1 | | | $ | 158.7 | | | $ | 33.2 | | | $ | 296.8 | |
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Performance Chemicals - Details by reporting unit
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| | 2013 | | | 2014 | |
| | 1st Quarter | | | 2nd Quarter | | | 3rd Quarter | | | 4th Quarter | | | Total Year | | | 1st Quarter | | | 2nd Quarter | | | 3rd Quarter | | | 4th Quarter | | | Total Year | |
Net sales: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Bromine | | $ | 220.6 | | | $ | 223.3 | | | $ | 218.3 | | | $ | 194.1 | | | $ | 856.3 | | | $ | 202.8 | | | $ | 195.6 | | | $ | 222.2 | | | $ | 188.3 | | | $ | 808.9 | |
Lithium | | | 118.5 | | | | 125.8 | | | | 120.3 | | | | 114.8 | | | | 479.4 | | | | 115.8 | | | | 116.8 | | | | 117.2 | | | | 124.5 | | | | 474.3 | |
PCS | | | 70.8 | | | | 73.6 | | | | 69.4 | | | | 71.8 | | | | 285.6 | | | | 73.1 | | | | 84.7 | | | | 77.7 | | | | 77.2 | | | | 312.7 | |
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Performance Chemicals | | $ | 409.9 | | | $ | 422.7 | | | $ | 408.0 | | | $ | 380.7 | | | $ | 1,621.3 | | | $ | 391.7 | | | $ | 397.1 | | | $ | 417.1 | | | $ | 390.0 | | | $ | 1,595.9 | |
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Adjusted EBITDA: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Bromine | | $ | 77.0 | | | $ | 76.5 | | | $ | 73.9 | | | $ | 57.0 | | | $ | 284.4 | | | $ | 56.7 | | | $ | 52.5 | | | $ | 62.3 | | | $ | 53.5 | | | $ | 225.0 | |
Adjusted EBITDA Margin | | | 35 | % | | | 34 | % | | | 34 | % | | | 29 | % | | | 33 | % | | | 28 | % | | | 27 | % | | | 28 | % | | | 28 | % | | | 28 | % |
Lithium | | | 47.6 | | | | 49.6 | | | | 43.9 | | | | 43.5 | | | | 184.6 | | | | 41.8 | | | | 42.5 | | | | 45.9 | | | | 49.7 | | | | 179.9 | |
Adjusted EBITDA Margin | | | 40 | % | | | 39 | % | | | 36 | % | | | 38 | % | | | 39 | % | | | 36 | %�� | | | 36 | % | | | 39 | % | | | 40 | % | | | 38 | % |
PCS | | | 21.6 | | | | 23.0 | | | | 20.0 | | | | 15.7 | | | | 80.3 | | | | 16.7 | | | | 24.5 | | | | 20.0 | | | | 20.4 | | | | 81.6 | |
Adjusted EBITDA Margin | | | 31 | % | | | 31 | % | | | 29 | % | | | 22 | % | | | 28 | % | | | 23 | % | | | 29 | % | | | 26 | % | | | 26 | % | | | 26 | % |
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Performance Chemicals | | $ | 146.2 | | | $ | 149.1 | | | $ | 137.8 | | | $ | 116.2 | | | $ | 549.3 | | | $ | 115.2 | | | $ | 119.5 | | | $ | 128.2 | | | $ | 123.6 | | | $ | 486.5 | |
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