Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 001-36563 ORION S.A. (Exact name of registrant as specified in its charter) Grand Duchy of Lu ...

Orion Engineered Carbons S.A. (NYSE:OEC) Q1 2023 Earnings Conference Call May 4, 2023 8:30 AM ET Company Participants Wendy Wilson - Head of IR Corning Painter - CEO Jeff Glajch - CFO Conference Call Participants Josh Spector - UBS Chris Kapsch - Loop Capital Pete Lukas - CJS Securities Jeff Zekauskas - JP Morgan Laurence Alexander - Jefferies Kyle Mowery - Grizzly Rock Capital Operator Welcome to the Orion Engineered Carbons' First Quarter 2023 Earnings Conference Call. At this time, all participants are i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR (Address of Principal Executive Offices) (Zip Code) (281) 318-2959 Registrant's telephone number, including area code ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ORION ENGINEERED CARBONS S.A. Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number 001-36563 Indicate by check mark if the registrant is not required to file reports pur ...

Orion Engineered Carbons S.A. (NYSE:OEC) Q4 2022 Earnings Conference Call February 17, 2023 8:30 AM ET Company Participants Wendy Wilson - Head of IR Corning Painter - CEO Jeffrey Glajch - CFO Conference Call Participants Josh Spector - UBS Laurence Alexander - Jefferies Jon Tanwanteng - CJS Securities Chris Kapsch - Loop Capital Markets Operator Greetings. Welcome to Orion Engineered Carbons Full Year and Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode ...

Orion Engineered Carbons 2022 Key Financial Metrics Key Performance Drivers • Volume decrease reflects destocking, a slower economy and supply chain challenges mainly impacting specialty volumes, partially offset by rubber growth in the Americas and APAC • Base price/mix improvement driven by price realization including the 2021/22 rubber contracting cycle and improved mix in specialty reflecting the strength of our highly differentiated grades • Base price/mix improvement driven by price realization and im ...

Orion Engineered Carbons S.A. (NYSE:OEC) Q3 2022 Earnings Conference Call November 4, 2022 8:30 AM ET Company Participants Wendy Wilson - Head of IR Corning Painter - CEO Jeffrey Glajch - CFO Conference Call Participants Josh Spector - UBS Jon Tanwanteng - CJS Securities Chris Kapsch - Loop Capital Operator Greetings. Welcome to Orion Engineered Carbons Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal ...

3Q 2022 Earnings Conference Call November 4, 2022 Forward-Looking Statements Forward-Looking Statements This presentation contains and refers to certain forward-looking statements with respect to our financial condition, results of operations and business. These statements constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are statements of future expectations that are based on management ...

PART I - Financial Information [Financial Statements and Supplementary Data (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20and%20Supplementary%20Data%20(Unaudited)) Presents unaudited financial statements showing increased sales but lower nine-month net income due to a prior-year litigation gain [Condensed Consolidated Statements of Operations](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Details revenue and profit figures, highlighting a significant year-over-year variance in operating income Key Financial Metrics | Metric | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $543.1M | $393.0M | $1,568.8M | $1,154.1M | | **Gross profit** | $114.4M | $98.7M | $352.1M | $311.3M | | **Income from operations** | $53.6M | $40.3M | $161.1M | $215.6M | | **Net income** | $31.8M | $21.0M | $94.0M | $133.6M | | **Diluted EPS** | $0.52 | $0.35 | $1.53 | $2.20 | - For the nine months ended September 30, 2021, Income from operations included a **gain of $82.9 million** related to a litigation settlement, which significantly impacted the year-over-year comparison[6](index=6&type=chunk) [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Outlines the company's assets, liabilities, and equity, showing growth in assets driven by receivables and inventories Key Balance Sheet Items | Balance Sheet Item | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $790.7M | $665.0M | | **Total assets** | $1,843.4M | $1,631.0M | | **Total current liabilities** | $547.9M | $448.7M | | **Total liabilities** | $1,412.7M | $1,311.3M | | **Total stockholders' equity** | $430.7M | $319.7M | - Key changes from Dec 31, 2021, to Sep 30, 2022, include a significant increase in **Accounts Receivable (from $288.9M to $403.7M)** and **Inventories (from $229.8M to $266.7M)**, contributing to the rise in total assets[12](index=12&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Summarizes cash movements, indicating a significant decrease in cash from operations compared to the prior year Cash Flow Summary | Cash Flow Activity (Nine Months Ended Sep 30) | 2022 | 2021 | | :--- | :--- | :--- | | **Net cash (used in)/provided by operating activities** | $(16.7)M | $121.3M | | **Net cash used in investing activities** | $(167.1)M | $(113.7)M | | **Net cash provided by (used in) financing activities** | $167.4M | $(7.6)M | | **Cash and cash equivalents at end of period** | $43.1M | $62.3M | - The significant decrease in cash from operating activities in 2022 was primarily driven by changes in operating assets and liabilities, particularly a **$149.2 million increase in trade receivables** and a **$65.3 million increase in inventories**[15](index=15&type=chunk) [Notes to the Condensed Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Provides context on debt, segment reporting, and significant capital expenditures related to environmental compliance - **Total debt increased from $782.9 million** at year-end 2021 to **$879.2 million** as of September 30, 2022, primarily due to an increase in other short-term debt and obligations[28](index=28&type=chunk) - The company is managed in two operating segments: **Rubber Carbon Black** and **Specialty Carbon Black**, with performance evaluated using Adjusted EBITDA[72](index=72&type=chunk)[74](index=74&type=chunk) - Under a consent decree with the EPA, the company has spent **$264 million on capital expenditures** for pollution control technology at its U.S. facilities as of September 30, 2022[69](index=69&type=chunk)[70](index=70&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Analyzes financial performance, highlighting sales growth from higher costs and pricing, with strong Rubber segment results [Operating Results](index=21&type=section&id=Operating%20Results) Compares current period results to the prior year, detailing drivers for changes in net sales and operating income - **Q3 2022 vs Q3 2021:** Net sales rose **38.2% to $543.1 million**, driven by passing through higher feedstock costs, pricing, and higher Rubber segment volume, while gross profit increased **15.9% to $114.4 million**[91](index=91&type=chunk)[92](index=92&type=chunk)[95](index=95&type=chunk) - **Nine Months 2022 vs 2021:** Net sales grew **35.9% to $1,568.8 million**, but income from operations fell to $161.1 million from $215.6 million, as the prior year included an **$82.9 million gain** from a litigation settlement[102](index=102&type=chunk)[103](index=103&type=chunk)[108](index=108&type=chunk) - **Adjusted EBITDA for Q3 2022 increased 21.2% to $80.5 million**, and for the nine months increased **14.3% to $247.1 million**, driven by pricing and strong performance in the Rubber Carbon Black segment[88](index=88&type=chunk)[101](index=101&type=chunk)[114](index=114&type=chunk) [Segment Discussion](index=23&type=section&id=Segment%20Discussion) Details the performance of the Specialty and Rubber Carbon Black segments, noting divergent results - **Specialty Carbon Black:** Q3 Adjusted EBITDA **fell 20.3% to $31.1 million**, driven by an **18.2% decrease in sales volume** due to lower demand and price competition in lower-end markets[116](index=116&type=chunk)[119](index=119&type=chunk)[121](index=121&type=chunk) - **Rubber Carbon Black:** Q3 Adjusted EBITDA **surged 80.3% to $49.4 million**, fueled by a **10.4% increase in volume**, strong pricing, and favorable product mix, reflecting higher demand in the Americas and EMEA[116](index=116&type=chunk)[125](index=125&type=chunk)[127](index=127&type=chunk) [Liquidity and Capital Resources](index=25&type=section&id=Liquidity%20and%20Capital%20Resources) Reviews the company's liquidity position, working capital changes, and capital expenditure activities - As of September 30, 2022, the company had **total liquidity of $203.3 million**, including $43.1 million in cash and $130.3 million available under its revolving credit facility[140](index=140&type=chunk) - **Net working capital increased from $323.6 million** at year-end 2021 to **$492.3 million** as of September 30, 2022, mainly due to higher oil prices increasing the value of inventories and trade receivables[143](index=143&type=chunk)[144](index=144&type=chunk) - **Capital expenditures for the first nine months of 2022 were $167.1 million**, up from $113.7 million in the prior year period, primarily for safety, growth, and EPA-mandated emissions reduction technology[148](index=148&type=chunk)[149](index=149&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) States no material changes in market risk disclosures from those reported in the 2021 Form 10-K - Information about market risks for the period ended September 30, 2022 **does not differ materially** from that discussed in the 2021 Form 10-K[157](index=157&type=chunk) [Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Confirms the effectiveness of disclosure controls and procedures with no material changes to internal controls - Based on an evaluation as of September 30, 2022, the CEO and CFO concluded that the company's **disclosure controls and procedures were effective**[158](index=158&type=chunk) - **No changes in internal control over financial reporting** occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[159](index=159&type=chunk) PART II - Other Information [Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) Details ongoing legal matters, which are not expected to materially impact the company's financial condition - The company is involved in various claims and lawsuits arising in the ordinary course of business[161](index=161&type=chunk) - Management believes that the aggregate results of current proceedings **will not have a material adverse effect** on the company's financial condition[161](index=161&type=chunk) [Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) Updates risk factors, focusing on supply chain disruptions from the Russia-Ukraine conflict and potential tax law changes - A key business risk is the potential for **disruptions in carbon black oil and natural gas supplies** caused by the ongoing conflict between Russia and Ukraine, which may lead to price volatility and adversely impact operations[163](index=163&type=chunk)[164](index=164&type=chunk) - The company faces risks from potential changes in tax laws, including the imposition of **"windfall profit" taxes** in various jurisdictions, which could adversely affect financial results[166](index=166&type=chunk)[167](index=167&type=chunk)[169](index=169&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Reports no unregistered sales of equity securities or use of proceeds during the period - None reported[170](index=170&type=chunk) [Exhibits](index=30&type=section&id=Item%206.%20Exhibits) Lists all exhibits filed with the report, including required officer certifications - The report includes filed certifications from the CEO and CFO as required by the Exchange Act, as well as furnished certifications pursuant to 18 U.S.C. Section 1350[171](index=171&type=chunk)

| --- | --- | --- | --- | --- | --- | --- | --- | |------------------|-----------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | OLION ENGINERED | | | | | | | | | | | | | | | | | | 2Q 2022 Earnings | | | | | | | | | August 5, 2022 | Conference Call | | | | | | | | | | | | | | | | Forward-Looking Statements Forward-Looking Statements This precentation contairs and refers to certain forward-kooking statements with respect to our financial condition, results of ope ...