Note 2: Reconciliation of Non-GAAP Performance Measures to Net Income. 30th Annual Report 2022/2023: New law strengthens the FDPIC. Note 3: Reconciliation of Non-GAAP Liquidity Measures to Cash from Operations. Trinseo Our dedicated employees deserve high praise for navigating this challenging environment to keep our customers supplied with our products and solutions as we leverage our global footprint to provide stable earnings., Second Quarter Results and Commentary by Business Segment, Commenting on the outlook for 2022, Bozich said, Im pleased with our results for the first half of the year as the Adjusted EBITDA was the third highest first half result in the Companys history despite the very challenging business environment. Higher prices from the passthrough of higher input costs resulted in an 11% increase which was more than offset by a 13% decrease caused by lower volumes, mostly in the second half of the year. As a result of these or other factors, our actual results, performance or achievements may differ materially from those contemplated by the forward-looking statements. If you experience any issues with this process, please contact us for further assistance. We refer to EBITDA in making operating decisions because we believe it provides our management as well as our investors with meaningful information regarding the Companys operational performance. Trinseo reported net sales of approximately $4.8 billion in 2021. The Company uses certain measures, such as Free Cash Flow as non-GAAP measures, to evaluate and discuss its liquidity position and results. Net sales in the first quarter increased 41% versus prior year. The 2022 Annual Performance Report Dashboard complements the report and provides key figures of the year in an interactive and visual way. Trinseo Reports Fourth Quarter and Full-Year 2022 Financial Results; Provides Full-Year 2023 Guidance Full-Year 2022 Summary Net loss from continuing operations of $428 million and diluted EPS from continuing operations of negative $11.91 Other companies in our industry may define Free Cash Flow differently than we do. Were confident in the talent of our employees, our ability to generate cash and in our liquidity position to navigate a subdued economic environment while delivering on our transformation strategy.. After submitting your request, you will receive an activation email to the requested email address. A replay of the conference call and transcript will be archived on the Companys Investor Relations website shortly following the conference call. Cautionary Note on Forward-Looking Statements. At Trinseo, we promise to treat your data with respect and will not share your information with any third party. This amount varies from the Companys available liquidity stated in its press release announcing preliminary fourth quarter 2022 results, dated January 26, 2023, based on the completion of financial covenant calculations under its debt agreements. Restructuring and other charges for the 2021 periods primarily relate to employee termination benefit charges as well as contract termination charges incurred in connection with the Companys transformational and corporate restructuring programs. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. (Unaudited). Trinseo S.A. CIK: 1519061 Ticker: TSE Exhibit 99.1 Trinseo Reports Fourth Quarter and Full-Year 2022 Financial Results; Provides Full-Year 2023 Guidance Full-Year 2022 Summary Net loss from continuing operations of $428 million and diluted EPS from continuing operations of negative $11.91 The forward-looking statements included in this press release are made only as of the date hereof. The three months ended June 30, 2022 also include costs related to our transition to a new enterprise resource planning system. Additionally, elevated energy prices in Europe, weak demand in China and easing shipping constraints created a temporary arbitrage window for lower-cost imports from Asia into Europe. If you experience any issues with this process, please contact us for further assistance. BERWYN, Pa--(BUSINESS WIRE)-- Trinseo has posted its fourth quarter and full year 2022 financial results on the Companys Investor Relations website. Trinseo Forward-looking statements reflect managements evaluation of information currently available and are based on our current expectations and assumptions, our business, the economy and other future conditions. Factors that might cause such a difference include, but are not limited to, our ability to complete the potential sale of our styrenics businesses; our ability to successfully execute our transformation strategy and business strategy; our ability to integrate acquired businesses; global supply chain volatility and increased costs or disruption in the supply of raw materials; increased energy costs or costs for transportation of our products; the nature of investment opportunities presented to the Company from time to time; the outcome of the European Commissions request for information; and those discussed in our Annual Report on Form 10-K, under Part I, Item 1A "Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. BERWYN, Pa., July 13, 2022 -- ( BUSINESS WIRE )-- Trinseo (NYSE: TSE), a specialty material solutions provider, announced the release of its 2022 Sustainability & Corporate Social. Plan your fishing trips with Capt. Trinseo will distribute its fourth quarter 2022 financial results via press release on Business Wire and post the release and presentation slides on the Company's Investor Relations website on. However, increased uncertainty due to the ongoing war in Ukraine and the associated rise in energy prices has begun to negatively influence demand in Europe. Therefore, we caution you against relying on any of these forward-looking statements. Adjusted Net Income is calculated as Adjusted EBITDA (defined beginning with net income from continuing operations, above), less interest expense, less the provision for income taxes and depreciation and amortization, tax affected for various discrete items, as appropriate. Data are disaggregated by strategic results, strategic outcomes, outcome indicators, as well as . Note 3: Reconciliation of Non-GAAP Liquidity Measures to Cash from Operations. For the same reasons discussed above, we are providing the following reconciliation of forecasted net income (loss) to forecasted Adjusted EBITDA, Adjusted Net Income (Loss) and Adjusted EPS for the full year ended December 31, 2023. February 07, 2022 08:00 AM Eastern Standard Time BERWYN, Pa.-- ( BUSINESS WIRE )-- Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics and latex binders announced that. For the three months and full year periods, the income tax expense (benefit) related to these items was determined utilizing the applicable rates in the taxing jurisdictions in which these adjustments occurred. Free Cash Flow is defined as cash from operating activities, less capital expenditures. For those interested in asking questions during the Q&A session, please register using the following link: For those interested in listening only, please register for the webcast using the following link: After registering for the conference call, you will receive a confirmation email with a meeting invitation and information for entry. Trinseo Reports First Quarter 2022 Financial Results and Updates Full-Year Outlook, Sustainability and Corporate Social Responsibility, Transparency in Supply Chains Act / Modern Slavery and Human Trafficking Statement, Net income from continuing operations of $17 million and diluted EPS from continuing operations of $0.45, Net income includes a pre-tax charge of $36 million related to the 2018 European Commission request for information regarding styrene monomer purchasing activity in the European Economic Area, Adjusted EBITDA* of $178 million, including a $32 million favorable impact from net timing, and Adjusted Net Income* of $79 million, Cash used in operations of $5 million and capital expenditures of $25 million resulted in Free Cash Flow* of negative $30 million; working capital use of $103 million mainly from a steep rise in raw material prices and sequentially higher sales in the first quarter, Repurchased 909 thousand shares for $50 million, Full-year 2022 net income of $174 million to $211 million and Adjusted EBITDA of $625 million to $675 million, Full-year 2022 cash from operations of approximately $355 million and Free Cash Flow of approximately $175 million. The Company compensates for these limitations by providing the following detail, which is determined in accordance with GAAP. Trinseo does not currently have any hardcopy reports on AnnualReports.com. To opt-in for investor email alerts, please enter your email address and select at least one alert option. As a result, it may be difficult to use this or similarly-named financial measures that other companies may use, to compare the liquidity and cash generation of those companies to our own. Commenting on the Companys first quarter performance, Frank Bozich, President and Chief Executive Officer of Trinseo, said, We had a solid start to the year with first quarter earnings similar to last year despite operating in a more challenging business environment as geopolitical factors in Europe pressure supply chains, customer production and energy costs in the region. If you experience any issues with this process, please contact us for further assistance. * The results of this segment are comprised entirely of earnings from Americas Styrenics, our 50%-owned equity method investment. A replay of the conference call and transcript will be archived on the Companys Investor Relations website shortly following the conference call. Press Contact: We compensate for these limitations by providing reconciliations of these performance measures to our net income, which is determined in accordance with GAAP. This year it has again been structured around the five key trends that underpin Olympic Agenda 2020+5. Trinseo will host a conference call to discuss its first quarter 2022 financial results on Thursday, May 5, 2022 at 10 a.m. Eastern Time. We refer to EBITDA in making operating decisions because we believe it provides our management as well as our investors with meaningful information regarding the Companys operational performance. See Note on Forward-Looking Statements above for a discussion of the limitations of these forecasts. ___________________ Selecting the value will change the page content, Sustainability and Corporate Social Responsibility, Transparency in Supply Chains Act / Modern Slavery and Human Trafficking Statement. There are limitations to using the financial performance measures noted above. The remainder of the net sales increase was from the addition of the acquired PMMA and Aristech Surfaces businesses within the Engineered Materials segment. In addition to using standard measures of performance and liquidity that are recognized in accordance with accounting principles generally accepted in the United States of America (GAAP), we use additional measures of income excluding certain GAAP items (non-GAAP measures), such as Adjusted Net Income, EBITDA, Adjusted EBITDA and Adjusted EPS and measures of liquidity excluding certain GAAP items, such as Free Cash Flow. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Registration is open through the live call, but it is advised that you register in advance to ensure you are connected for the full call. The FDPIC's work to ensure a smooth transition to the new law is proceeding according to plan. Commenting on results will be Frank Bozich, President and Chief Executive Officer, David Stasse, Executive Vice President and Chief Financial Officer, and Andy Myers, Director of Investor Relations. Free Cash Flow is defined as cash from operating activities, less capital expenditures. At Trinseo, we promise to treat your data with respect and will not share your information with any third party. Reconciling items to Adjusted EBITDA and Adjusted Net Income (Loss) are not typically forecasted by the Company based on their nature as being primarily driven by transactions that are not part of the core operations of the business and, as a result, cannot be estimated without unreasonable cost or uncertainty. The Company compensates for these limitations by providing the following detail, which is determined in accordance with GAAP. BERWYN, Pa.-- ( BUSINESS WIRE )-- Trinseo (NYSE: TSE), a specialty material solutions provider, announced the release of its 2022 Sustainability & Corporate Social Responsibility (CSR) Report. Significantly elevated energy costs along with the geopolitical conflict in Europe, Covid-19 shutdowns in China and a rapid rise in interest rates in an inflationary environment all combined to adversely impact volume and margin across most products. EBITDA is a non-GAAP financial performance measure, which is defined as income from continuing operations before interest expense, net; income tax provision; depreciation and amortization expense. For those interested in asking questions during the Q&A session, please register using the following link: For those interested in listening only, please register for the webcast using the following link: After registering for the conference call, you will receive a confirmation email with a meeting invitation and information for entry. AAVAS/SEC/2023-24/329 Date: June 26, 2023 Dear Sir /Madam, Sub: Notice of the 13th Annual General Meeting of the Company and Annual Report for the FY 2022-23 This is to inform you that 13th Annual General Meeting ("AGM") of the Members of the Company will be held on Wednesday, July 19, 2023 at 03:30 P.M. IST through Video Conferencing ("VC") / You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section. Andy Myers You can sign up for additional alert options at any time. For the same reasons discussed above, we are providing the following reconciliation of forecasted cash provided by operations and cash used for capital expenditures to forecasted Free Cash Flow for the year ended December 31, 2022. May 08, 2023. Adjusted EPS is calculated as Adjusted Net Income (Loss) per weighted average diluted shares outstanding for a given period. These performance measures are not intended to represent net income or other measures of financial performance. Note 2: Reconciliation of Non-GAAP Performance Measures to Net Income. We have not included forecasted amounts for the remainder of 2022. We believe that Free Cash Flow provides an indicator of the Companys ongoing ability to generate cash through core operations, as it excludes the cash impacts of various financing transactions as well as cash flows from business combinations that are not considered organic in nature. Amounts for the three months and year ended December 31, 2022 exclude accelerated depreciation of $39.9 million and $43.8 million, respectively, and the amounts for the three months and year ended December 31, 2021 exclude accelerated deprecation of $3.7 million and $8.1 million, respectively. Commenting on the Companys fourth quarter performance, Frank Bozich, President and Chief Executive Officer of Trinseo, said, During the fourth quarter we observed a similar sequential operating environment including lower global demand and elevated natural gas prices in Europe. From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers unique challenges in a wide range of industries, including consumer goods, mobility, building and construction, and medical. Trinseo has reached its limit for free report views. Therefore, we caution you against relying on any of these forward-looking statements. Lastly, we present Adjusted Net Income and Adjusted EPS as additional performance measures. Other items for the 2022 and 2021 periods primarily relate to fees incurred in conjunction with certain of the Companys strategic initiatives, as well as costs related to our transition to a new enterprise resource planning system. Net loss included a non-cash impairment charge of $297 million related to the PMMA business and Aristech Surfaces reporting units goodwill balances. Today, the World Anti-Doping Agency (WADA) publishes its 2022 Code Compliance Annual Report (Report). Dina Pokedoff Adjusted Net Income (Loss) is calculated as Adjusted EBITDA (defined beginning with net income from continuing operations, above), less interest expense, less the provision for income taxes and depreciation and amortization, tax affected for various discrete items, as appropriate. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Trinseo Trinseo had approximately $4.8 billion in net sales in 2021 and has 26 manufacturing sites and one recycling facility around the world and approximately 3,400 employees.
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