Financials Orion S.A.

Equities

OEC

LU1092234845

Specialty Chemicals

Market Closed - Nyse Other stock markets 16:00:02 2025-12-16 EST			5-day change	1st Jan Change
5.190 ^USD	-1.33%		+5.70%	-67.13%

12-03	Orion Lifts FY25 Outlook on Expectation of Milestone Payment for Prostate Cancer Drug	MT
11-19	Orion S.A. Gains Commercial Traction with Conductive Additives Vital for Grid Modernization	CI

Projected Income Statement: Orion S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,136	1,547	2,031	1,894	1,878	1,747	1,714	1,789
Change	-	36.12%	31.3%	-6.75%	-0.87%	-6.96%	-1.89%	4.41%
EBITDA ¹	200	268	312.3	332.3	302.2	228	232.8	258.9
Change	-	33.97%	16.53%	6.4%	-9.06%	-24.57%	2.12%	11.23%
EBIT ¹	103.5	163.9	206.6	219.3	176.9	105	115.7	136.7
Change	-	58.33%	26.05%	6.15%	-19.33%	-40.63%	10.12%	18.22%
Interest Paid ¹	-38.67	-38	-39.9	-50.9	-49.4	-61.35	-53.1	-49.47
Earnings before Tax (EBT) ¹	25.8	185.7	157.2	163.3	53.3	-54	39.6	69.1
Change	-	619.91%	-15.35%	3.88%	-67.36%	-201.31%	173.33%	74.49%
Net income ¹	18.16	134.7	106.2	103.5	44.2	-60.8	29.4	49.7
Change	-	641.9%	-21.16%	-2.54%	-57.29%	-237.56%	148.36%	69.05%
Announcement Date	2/18/21	2/17/22	2/16/23	2/14/24	2/19/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	315.7	360.1	401	393.1	392.7	484.5	541.2	543.1	462.1	500.7	458.8	466.2	468.2	502.9	477	463.4	434.2	477.7	466.4	450.9	367.1	435.6	453.5	455.6	392.3	441.1	466	469.7
Change	-	14.06%	11.36%	-1.97%	-0.09%	23.38%	11.7%	0.35%	-14.91%	8.35%	-8.37%	1.61%	0.43%	7.41%	-5.15%	-2.85%	-6.3%	10.02%	-2.37%	-3.32%	-18.58%	18.64%	4.12%	0.45%	-13.88%	12.45%	5.64%	0.78%
EBITDA ¹	65.96	70.85	78.82	66.42	52.3	83.2	83.4	80.5	65.2	101.1	87	77.3	66.6	85.3	75.1	80.1	61.7	66.2	68.8	57.7	35.42	56.09	62.87	64.69	51.13	57.66	66.28	70.03
Change	-	7.42%	11.24%	-15.73%	-21.25%	59.08%	0.24%	-3.48%	-19.01%	55.06%	-13.95%	-11.15%	-13.84%	28.08%	-11.96%	6.66%	-22.97%	7.29%	3.93%	-16.13%	-38.62%	58.37%	12.1%	2.9%	-20.96%	12.76%	14.96%	5.65%
EBIT ¹	39.15	45.22	53.64	42.61	22.8	55.9	56	55.3	39.4	75.4	59.8	49.4	34.4	56.4	44.8	49.3	26.4	34.7	36.8	24	6.755	19.88	27.85	31.14	19.97	25.27	33.89	37.64
Change	-	15.5%	18.61%	-20.57%	-46.49%	145.18%	0.18%	-1.25%	-28.75%	91.37%	-20.69%	-17.39%	-30.36%	63.95%	-20.57%	10.04%	-46.45%	31.44%	6.05%	-34.78%	-71.85%	194.26%	40.09%	11.82%	-35.88%	26.57%	34.12%	11.05%
Charge d'intérêts ¹	-10.01	-9.959	-8.951	-11.46	-7.63	-8.4	-10.5	-10.2	-10.8	-15.2	-13.5	-12.9	-9.3	-12.7	-12.2	-15.9	-8.6	-13.7	-19.1	-14.4	-14.25	-14.5	-14.4	-14.3	-14.1	-	-	-
Earnings before Tax (EBT) ¹	12.97	31.67	122.3	27.62	4.1	46.2	-	43.4	25.2	60.5	47.7	35	20.1	40.1	29.4	-31.2	15	17.5	13	-	-16.4	11.4	15.3	14.5	-1.5	-	-	-
Change	-	144.22%	286.22%	-77.41%	-85.16%	1,026.83%	-	-	-41.94%	140.08%	-21.16%	-26.62%	-42.57%	99.5%	-26.68%	-206.12%	148.08%	16.67%	-25.71%	-	-	169.51%	34.21%	-5.23%	-110.34%	-	-	-
Net income ¹	8.906	23.54	89.06	21.01	1.1	32.5	-	31.8	12.2	42.3	30.1	26.2	4.9	26.7	20.5	-20.2	17.2	9.1	9	-	-11.8	8.4	11	10.5	-0.6	-	-	-
Change	-	164.29%	278.36%	-76.41%	-94.76%	2,854.55%	-	-	-61.64%	246.72%	-28.84%	-12.96%	-81.3%	444.9%	-23.22%	-198.54%	185.15%	-47.09%	-1.1%	-	-	171.19%	30.95%	-4.55%	-105.71%	-	-	-
Announcement Date	2/18/21	5/6/21	8/5/21	11/4/21	2/17/22	5/5/22	8/4/22	11/3/22	2/16/23	5/4/23	8/9/23	11/2/23	2/14/24	5/2/24	8/1/24	11/7/24	2/19/25	5/7/25	8/6/25	11/4/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Orion S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	674	717	855	777	862	941	923	915
Change	-	6.38%	19.25%	-9.12%	10.94%	9.22%	-1.91%	-0.87%
Announcement Date	2/18/21	2/17/22	2/16/23	2/14/24	2/19/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Orion S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	144.9	214.7	232.8	172.8	206.7	151.2	114	120
Change	-	48.13%	8.43%	-25.77%	19.62%	-26.87%	-24.58%	5.26%
Free Cash Flow (FCF) ¹	-19.66	-69.5	-152	173.1	-	36	30	19
Change	-	-253.49%	-118.71%	213.88%	-	-	-16.67%	-36.67%
Announcement Date	2/18/21	2/17/22	2/16/23	2/14/24	2/19/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Orion S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	17.6%	17.33%	15.38%	17.55%	16.1%	13.05%	13.58%	14.47%
EBIT Margin (%)	9.11%	10.6%	10.17%	11.58%	9.42%	6.01%	6.75%	7.64%
EBT Margin (%)	2.27%	12.01%	7.74%	8.62%	2.84%	-3.09%	2.31%	3.86%
Net margin (%)	1.6%	8.71%	5.23%	5.46%	2.35%	-3.48%	1.72%	2.78%
FCF margin (%)	-1.73%	-4.49%	-7.48%	9.14%	-	2.06%	1.75%	1.06%
FCF / Net Income (%)	-108.29%	-51.6%	-143.13%	167.25%	-	-59.21%	102.04%	38.23%
Profitability
ROA	4.73%	8.92%	6.03%	6.2%	5.57%	2.4%	1.92%	2.35%
ROE	34.12%	42.02%	27.26%	24.59%	21.56%	10.62%	10.26%	12.74%
Financial Health
Leverage (Debt/EBITDA)	3.37x	2.68x	2.74x	2.34x	2.85x	4.13x	3.97x	3.53x
Debt / Free cash flow	-34.26x	-10.32x	-5.62x	4.49x	-	26.15x	30.78x	48.17x
Capital Intensity
CAPEX / Current Assets (%)	12.75%	13.88%	11.46%	9.12%	11.01%	8.65%	6.65%	6.71%
CAPEX / EBITDA (%)	72.45%	80.11%	74.54%	52%	68.4%	66.31%	48.97%	46.34%
CAPEX / FCF (%)	-737.19%	-308.92%	-153.16%	99.83%	-	419.86%	380%	631.58%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	0.2	0.0207	0.08	0.08	0.08	0.0841	0.0926	0.1009
Change	-	-89.65%	286.47%	0%	0%	5.15%	10.1%	8.92%
Book Value Per Share ¹	2.993	5.271	7.584	8.264	8.296	6.955	7.262	7.998
Change	-	76.14%	43.89%	8.97%	0.39%	-16.16%	4.41%	10.14%
EPS ¹	0.3	2.21	1.73	1.73	0.76	-1.08	0.52	0.88
Change	-	636.67%	-21.72%	0%	-56.07%	-242.11%	148.15%	69.23%
Nbr of stocks (in thousands)	60,487	60,633	60,816	58,044	57,720	56,150	56,150	56,150
Announcement Date	2/18/21	2/17/22	2/16/23	2/14/24	2/19/25	-	-	-