Element Solutions Inc Announces Two Strategic Semiconductor Transactions - Seite 2

Mr. Gliklich continued, “Our acquisition of Kuprion brings another highly-differentiated capability to our portfolio together with the world-class R&D and applications team who developed it. Their technology is designed to solve the increasingly difficult challenges associated with thermal management and adhesion in leading-edge electronics. We believe this represents industry-changing technology with broad applications across our portfolio, from semiconductor packaging to IC substrate metallization and electronics assembly. Combining Kuprion’s solutions and technical capability, already sought after by many of our largest customers, with our breadth of sales, service and applications expertise will create tremendous growth opportunities.”

Mr. Gliklich concluded, “The transactions we are announcing today together are immediately accretive to adjusted earnings per share (EPS) and result in a sizeable cash tax benefit. We expect a net debt to adjusted EBITDA ratio of 3.6x at the end of the second quarter of 2023, which we expect to return below our 3.5x long-term target by the third quarter and decline even further in the fourth quarter of this year. We believe this is appropriate given these unique capital allocation opportunities, which enhance growth opportunities and business quality and which were available at reasonable valuations in this market window.”

About Element Solutions Inc

Element Solutions Inc is a leading specialty chemicals company whose businesses supply a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, these innovative solutions enable customers' manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communications and data storage infrastructure, automotive systems, industrial surface finishing, consumer packaging and offshore energy. More information about the Company is available at www.elementsolutionsinc.com.

Non-GAAP Measures

This press release includes forward-looking financial measures which are not calculated in accordance with GAAP, including annualized adjusted EBITDA, and net debt to adjusted EBITDA ratio. Definitions of these non-GAAP financial measures can be found in Element Solutions’ earnings releases posted on its website under Investors and News/Events.