Core Points - Euro Manganese Inc. announced that shareholders voted in favor of all matters at the Annual General & Special Meeting held on May 15, 2025 [1] - The company will have a change in Chief Financial Officer effective at the end of May 2025 [2][17] - The company is focused on becoming a leading producer of high-purity manganese for the electric vehicle industry [18] Voting Results - All five management nominees for director positions were elected with significant support, with Ludivine Wouters receiving 95.49% of votes in favor [2][10] - PricewaterhouseCoopers LLP was appointed as auditors with 89.10% of votes in favor [2][10] - The re-approval of the Company's Stock Option Plan received 91.23% of votes in favor [2][10] Issuance of Securities - The issuance of 21,400,000 Units to the European Bank for Reconstruction and Development (EBRD) was approved [4] - The issuance of 4,904,478 broker warrants to Canaccord Genuity and Foster Stockbroking was approved with 87.03% of votes in favor [7][14] - The issuance of 22,263,733 Orion Warrants to OMRF (BK) LLC was approved with 93.97% of votes in favor [7][14] Company Overview - Euro Manganese is advancing the Chvaletice Manganese Project in the Czech Republic, which involves reprocessing old tailings from a decommissioned mine [18][19] - The project is positioned to provide critical raw materials for battery supply chains in the European Union [19]

May 12, 2025 8:00 AM EDT | Source: Euro Manganese Inc. Vancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (OTC Pink: EUMNF) (FSE: E060) (the "Company" or "Euro Manganese") is pleased to announce that it has appointed Ms. Martina Blahova as permanent President and Chief Executive Officer ("CEO") effective May 12, 2025 and will appoint Ms. Blahova to the Company's Board of Directors (the "Board"). Ms. Blahova's appointment to the Board will not take effec ...

Financial Performance - Sales for Q1 2025 were $2,290 million, a slight decrease of 0.9% from $2,310 million in Q1 2024[15] - Gross profit increased to $567 million in Q1 2025, up 6.6% from $532 million in Q1 2024[15] - Net earnings attributable to Eastman rose to $182 million in Q1 2025, compared to $165 million in Q1 2024, reflecting a growth of 10.3%[15] - Basic earnings per share attributable to Eastman increased to $1.58 in Q1 2025, up from $1.40 in Q1 2024, representing a 12.9% increase[15] - The company reported a consolidated EBT of $214 million for Q1 2025, up from $214 million in Q1 2024, indicating consistent earnings before tax[15] - Net earnings for Q1 2025 were $182 million, an increase from $165 million in Q1 2024, representing an increase of 10.3%[91] - Basic earnings per share (EPS) for Q1 2025 were $1.58, compared to $1.40 in Q1 2024, reflecting a growth of 12.9%[91] Assets and Liabilities - Total assets decreased to $14,971 million as of March 31, 2025, down from $15,213 million at the end of 2024[17] - Total liabilities decreased to $9,027 million as of March 31, 2025, down from $9,361 million at the end of 2024[17] - Cash and cash equivalents decreased significantly to $418 million from $837 million at the end of 2024[17] - Total current liabilities decreased from $2,708 million as of December 31, 2024, to $2,269 million as of March 31, 2025, a reduction of 16.3%[17] - Total borrowings amounted to $5,021 million as of March 31, 2025, slightly up from $5,017 million as of December 31, 2024[38] Cash Flow - Net cash used in operating activities was $167 million in Q1 2025, compared to a net cash used of $16 million in Q1 2024[20] - The company reported a net cash used in investing activities of $131 million in Q1 2025, compared to $179 million in Q1 2024[20] Inventory and Expenses - Total inventories increased to $2,116 million as of March 31, 2025, compared to $1,988 million as of December 31, 2024, reflecting a 6.4% increase[34] - Research and development expenses rose to $67 million in Q1 2025, up from $59 million in Q1 2024, indicating a focus on innovation[15] - Capital expenditures for Q1 2025 were $139 million, compared to $147 million in Q1 2024, showing a decrease of 5.4%[107] Environmental Matters - The company’s net environmental reserve for environmental contingencies totaled $282 million as of March 31, 2025, compared to $284 million at December 31, 2024[74] - Estimated future environmental expenditures for undiscounted remediation costs range from $250 million to $503 million as of March 31, 2025[75] - Environmental remediation liabilities decreased from $252 million at December 31, 2024, to $250 million at March 31, 2025[76] - The company does not anticipate that environmental matters will have a material adverse effect on its future financial position or cash flows[73] Shareholder Returns - Cash dividends declared for the first quarter of 2025 were $96 million, reflecting a dividend of $0.83 per share[83] - Cash dividends declared were $0.83 per share for Q1 2025, compared to $0.81 per share in Q1 2024, reflecting a 2.5% increase[92] Derivatives and Hedging - The company entered into fixed-to-fixed cross-currency swaps totaling $300 million in the first quarter of 2025 to hedge against foreign currency fluctuations[52] - The total net derivative assets decreased from $35 million on December 31, 2024, to a net liability of $15 million as of March 31, 2025[61] - The company recognized a net gain of $3 million from foreign exchange derivatives in Q1 2025, compared to a net loss of $5 million in Q1 2024[67] Stock Options and Compensation - Share-based compensation expense recognized in Q1 2025 was $23 million, up from $21 million in Q1 2024, marking a 9.5% increase[99] - Approximately 408 thousand stock options were granted in Q1 2025, compared to 389 thousand in Q1 2024, indicating an increase in stock option grants[100] - The fair value of stock options granted in Q1 2025 was $26.99, up from $21.16 in Q1 2024, reflecting a 27.0% increase[101]

Financial Performance - 1Q25 revenue was $2,290 million, a decrease of 1% compared to 1Q24[7] - Adjusted EBIT for 1Q25 was $311 million, compared to $274 million in 1Q24[7] - Adjusted EBIT margin improved by 170 basis points year-over-year[6, 7] - Adjusted EPS grew by 19% in 1Q25, reaching $1.91[6, 7] Segment Results - Advanced Materials revenue was $719 million, a decrease of 4% compared to 1Q24, with an adjusted EBIT margin of 16.1%, a 220 basis points increase[14, 19] - Additives & Functional Products revenue increased by 4% to $733 million, with an adjusted EBIT margin of 19.2%[21] - Fibers revenue decreased by 13% to $288 million, with an adjusted EBIT margin of 30.6%[28] - Chemical Intermediates revenue increased by 4% to $545 million, with an adjusted EBIT margin of 3.5%[35] Circular Economy and Future Outlook - The Kingsport methanolysis facility is performing strongly, expected to contribute around $75 million in EBITDA for FY25 compared to FY24[9, 12] - Capital expenditures for FY25 are reduced to approximately $550 million from the previous $700 million–$800 million[48, 50, 54] - The company expects approximately $1.2 billion of operating cash flow for FY25[48, 50]

Financial Data and Key Metrics Changes - The company has adjusted its revenue guidance for the renew segment from $75 to $100 million to a new range of $50 to $75 million due to economic uncertainties and trade tensions impacting consumer durable markets [11][12][27] - The EBITDA contribution from manufacturing cost savings is on track to achieve the targeted $50 million for the year, with $25 million already realized in the first quarter [10][27] Business Line Data and Key Metrics Changes - The fibers business is experiencing destocking challenges, with first-quarter volume down 12%, but contract rates remain stable at around 90% [19][130] - The advanced materials segment is expected to face varying impacts from tariffs, with some products having local manufacturing capabilities mitigating risks [42][140] Market Data and Key Metrics Changes - The consumer durable market is under pressure due to tariff-related uncertainties, affecting product launches and overall market engagement [11][12][13] - The agricultural sector is expected to benefit from tariffs as they provide relief from low-priced imports, allowing for potential market share recovery [142] Company Strategy and Development Direction - The company is focusing on optimizing capital expenditures, reducing from $750 million to $550 million, to prepare for potential economic downturns while still investing in maintenance and growth [89][90] - Strategic initiatives are being pursued to enhance local manufacturing capabilities and reduce reliance on imports, particularly in the performance films and specialty plastics segments [39][140] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining cash flow generation despite uncertainties in earnings due to trade disputes and economic conditions [107][109] - The company is preparing for multiple scenarios regarding trade resolutions, indicating a cautious but proactive approach to managing inventory and customer relationships [72][82] Other Important Information - The company has received funding from the Department of Energy (DOE) and maintains a positive relationship with them, indicating confidence in ongoing support for projects related to US manufacturing and recycling infrastructure [51][56] - The impact of tariffs is primarily seen as a volume hit rather than a direct cost increase, with customers holding back orders due to uncertainty [118][120] Q&A Session Summary Question: What has been the sales and EBITDA contribution in the first quarter? - Management indicated that operational performance at the Kingsport facility has been strong, with an 85% yield on DMT feedstock and significant earnings generated in the corporate area [8][9] Question: How long do you anticipate destocking to persist in the fibers business? - Management noted that destocking is driven by customer behavior rather than market growth rates, and while it may continue, the fundamentals remain stable [18][25] Question: How much risk is there regarding China sales if tariffs remain? - Management highlighted that while there is some risk, many segments have limited exposure to China, and they are exploring ways to mitigate impacts through local production [36][38] Question: Why is cash flow more forecastable than earnings? - Management explained that cash flow generation is based on a broader set of operational solutions and working capital management, providing more certainty compared to earnings estimates [106][108] Question: What is the estimated tariff impact for the second quarter? - The estimated impact is around $30 million, primarily due to reduced sales volumes as customers hold back orders in anticipation of trade resolutions [112][118]

Core Insights - Eastman Chemical Company (EMN) reported first-quarter 2025 earnings of $1.57 per share, a 12.9% increase from $1.39 in the same quarter last year, with adjusted earnings of $1.91 per share, up 18.6% from $1.61, surpassing the Zacks Consensus Estimate of $1.89 [1][2] Financial Performance - Revenues for the first quarter were $2,290 million, missing the Zacks Consensus Estimate of $2,308.6 million, and reflecting a 1% decrease from $2,310 million in the prior-year quarter [2] - Cash used in operating activities totaled $167 million, and dividends paid to stockholders were $96 million [7] Segment Performance - **Advanced Materials**: Revenues fell 3.9% year over year to $719 million, missing the estimate of $763.7 million due to reduced selling prices and unfavorable sales volume mix [3] - **Additives & Functional Products**: Revenues increased 4.1% year over year to $733 million, exceeding the estimate of $703.3 million, driven by higher selling prices and improved sales volume mix [4] - **Chemical Intermediates**: Net sales rose 4.2% year over year to $545 million, beating the estimate of $533.5 million, attributed to increased selling prices and a stronger sales volume mix [5] - **Fibers**: Net sales declined 12.9% year over year to $288 million, missing the estimate of $325 million, primarily due to a less favorable sales volume mix and reduced selling prices [6] Guidance and Outlook - The company raised its cost reduction goal to approximately $75 million and lowered capital expenditures to about $550 million, indicating a strong position to manage challenges from increasing tariffs [8] - EMN anticipates generating around $1.2 billion in operating cash flow for full-year 2025, with adjusted EPS guidance for the second quarter projected between $1.70 and $1.90 [9][11] Market Performance - EMN's shares have decreased by 15.9% over the past year, compared to a 25.7% decline in its industry [12]

Core Insights - Eastman Chemical (EMN) reported revenue of $2.29 billion for Q1 2025, a year-over-year decline of 0.9% and a surprise of -0.81% compared to the Zacks Consensus Estimate of $2.31 billion [1] - The company's EPS for the same period was $1.91, up from $1.61 a year ago, exceeding the consensus estimate of $1.89 by +1.06% [1] Revenue Performance - Net Sales in Chemical Intermediates reached $545 million, exceeding the average estimate of $526.41 million, with a year-over-year increase of +4.2% [4] - Net Sales in Fibers were $288 million, below the average estimate of $323.18 million, reflecting a year-over-year decline of -13% [4] - Net Sales in Advanced Materials totaled $719 million, compared to the average estimate of $764.65 million, marking a year-over-year decrease of -3.9% [4] - Net Sales in Additives & Functional Products were $733 million, surpassing the average estimate of $706.46 million, with a year-over-year increase of +4.1% [4] - Net Sales in Other products amounted to $5 million, slightly above the average estimate of $4.50 million, representing a year-over-year increase of +25% [4] Adjusted EBIT Performance - Adjusted EBIT for Additives & Functional Products was $141 million, exceeding the average estimate of $127.78 million [4] - Adjusted EBIT for Advanced Materials reached $116 million, slightly above the average estimate of $114.17 million [4] - Adjusted EBIT for Chemical Intermediates was $19 million, below the average estimate of $22.78 million [4] - Adjusted EBIT for Other products was -$53 million, in line with the average estimate of -$53.70 million [4] - Adjusted EBIT for Fibers was $88 million, below the average estimate of $98.13 million [4] Stock Performance - Eastman Chemical's shares have returned -12% over the past month, compared to a -5.1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Group 1: Earnings Performance - Eastman Chemical reported quarterly earnings of $1.91 per share, exceeding the Zacks Consensus Estimate of $1.89 per share, and up from $1.61 per share a year ago, representing an earnings surprise of 1.06% [1] - The company posted revenues of $2.29 billion for the quarter, missing the Zacks Consensus Estimate by 0.81%, and down from $2.31 billion year-over-year [2] - Over the last four quarters, Eastman Chemical has surpassed consensus EPS estimates four times but has topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - Eastman Chemical shares have declined approximately 13.7% since the beginning of the year, compared to a decline of 8.6% for the S&P 500 [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to those expectations [4] - The current consensus EPS estimate for the next quarter is $2.19 on revenues of $2.38 billion, and for the current fiscal year, it is $8.36 on revenues of $9.53 billion [7] Group 3: Industry Context - The Zacks Industry Rank indicates that the Chemical - Diversified sector is currently in the bottom 10% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5]

Exhibit 99.01 Eastman Announces First-Quarter 2025 Financial Results KINGSPORT, Tenn., April 24, 2025 – Eastman Chemical Company (NYSE:EMN) announced its first- quarter 2025 financial results. | (In | millions, | except | per | share | amounts; unaudited) 1Q2025 1Q2024 | | --- | --- | --- | --- | --- | --- | | Sales | revenue | | | | $2,290 $2,310 | | Earnings | before | | interest | and | taxes ("EBIT") 302 263 | | Adjusted | EBIT* | | | | 311 274 | | Earnings | per | diluted | | share | 1.57 1.39 | | Adju ...

Core Viewpoint - Eastman Chemical Company (EMN) is expected to report first-quarter 2025 results on April 24, with a history of surpassing earnings estimates in the past four quarters, averaging an earnings surprise of approximately 11.7% [1][2] Revenue Estimates - The Zacks Consensus Estimate for EMN's revenues in the upcoming quarter is $2,320.1 million, reflecting a year-over-year increase of 0.4% [4] - Revenue estimates for EMN's divisions include: - Additives and Functional Products: $703.3 million, a decline of 0.1% year-over-year [4] - Advanced Materials: $763.7 million, an increase of 2.1% [4] - Chemical Intermediates: $533.5 million, a rise of 2% [5] - Fiber segment: $325 million, a decrease of 1.8% [5] Factors Influencing Performance - EMN's innovation-focused growth strategy and cost-reduction efforts are expected to support performance despite weak demand in certain markets [2][6] - The company anticipates increased volumes in specialty businesses, driven by innovation, particularly in sectors like consumer durables, building & construction, and transportation [6] - The Kingsport methanolysis facility is projected to contribute an additional $75–$100 million in EBITDA in 2025 compared to the previous year [7] - The Advanced Materials division is expected to add $50–$75 million in incremental EBITDA [9] - Cost management strategies are anticipated to lower operational expenses and improve profitability, contributing $50 million of earnings growth in 2025 [10] Market Challenges - EMN is facing headwinds from subdued demand in specific markets, particularly in the building & construction sector and cautious purchasing in consumer durables and electronics [11] - The automotive sector is also under pressure due to a decline in global vehicle production, impacting revenue performance [12] Earnings Prediction Model - The current model does not predict an earnings beat for EMN, with an Earnings ESP of -1.01% and a Zacks Rank of 4 (Sell) [13][14]