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    CHE.UN   CA16387P1036

CHEMTRADE LOGISTICS INCOME FUND

(CHE.UN)
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Q3 2021 Earnings Review (PDF)11.11.21

11/11/2021 | 09:37am EST

20 21 Q3 EARNINGS REVIEW | November 11, 2021

1

AGENDA

  • Q3 Financial Results Review
  • 2021 Guidance & Assumptions
  • Key Sensitivities
  • State of the Business and Outlook
  • Q & A

2

CAUTION REGARDING FORWARD- LOOKING STATEMENTS

Certain statements contained in this presentation constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward- looking statements can be generally identified by the use of words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions. Forward-looking statements in this presentation describe the expectations of Chemtrade Logistics Income Fund ("Chemtrade") and its subsidiaries as of the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the "RISK FACTORS" section of Chemtrade's latest Annual Information Form and the "RISKS AND UNCERTAINTIES" section of Chemtrade's most recent Management's Discussion & Analysis. Although Chemtrade believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with such forward-looking statements, and they should not be unduly relied upon. Except as required by law, Chemtrade does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Further information can be found in the disclosure documents filed by Chemtrade with the securities regulatory authorities, available on www.sedar.com.

One of the non-IFRS measures referred to in this presentation is Adjusted EBITDA, which is EBITDA modified to exclude only non-cash items such as unrealized foreign exchange gains and losses. Both these terms are fully defined in our MD&A.

3

Q3 2021 Results

C$ Millions

Q3 2021

Q3 2020

FX Impact

Variance net

of FX

Revenue

365.0

345.9

(15.2)

34.3

Adjusted EBITDA

67.3

64.7

(4.3)

6.9

Maintenance Capex

(15.6)

(17.3)

0.4

1.3

Lease Payments

(13.1)

(14.3)

0.7

0.5

Cash Interest

(16.6)

(17.4)

0.4

0.4

Cash Taxes

(2.7)

(3.5)

0.2

0.6

Distributable Cash

19.3

12.1

(2.6)

9.7

DCPU

$0.19

$0.13

4

Revenue:

  • Stronger Canadian dollar (-$5.1 million)
  • Higher selling prices for sulphur products and merchant and Regen acid
  • Lower sales volumes for acid products

Adjusted EBITDA:

  • Stronger Canadian dollar (-$1.5 million)
  • Vale labour disruption (-$6.0 million)
  • Higher selling prices for sulphur products and merchant and Regen acid
  • Lower sales volumes for acid products

Q3 2021 SPPC Results

C$ Millions

Revenue

$109.2

$105.4

Q3 2021

Q3 2020

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Chemtrade Logistics Income Fund published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 14:36:03 UTC.


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Sales 2021 1 386 M 1 109 M 1 109 M
Net income 2021 -61,5 M -49,2 M -49,2 M
Net Debt 2021 1 216 M 973 M 973 M
P/E ratio 2021 -12,6x
Yield 2021 8,00%
Capitalization 781 M 624 M 625 M
EV / Sales 2021 1,44x
EV / Sales 2022 1,37x
Nbr of Employees 1 474
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 7,50 CAD
Average target price 9,31 CAD
Spread / Average Target 24,2%
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Managers and Directors
Scott William Rook President, Chief Executive Officer & Director
Rohit Bhardwaj Chief Financial Officer & Vice President-Finance
Lorie Waisberg Chairman-Trustees Board
Tejinder Kaushik Vice President-Information Technology
Timothy Montgomery Group Vice President-Manufacturing & Engineering