RYAM Outlines Vision and Financial Growth Strategy at 2023 Investor Day
10 Outubro 2023 - 5:38PM
Business Wire
Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company”),
the global leader in High Purity Cellulose, outlined its financial
growth strategy during the 2023 Investor Day event earlier
today.
De Lyle W. Bloomquist, RYAM’s President and Chief Executive
Officer, stated, “Looking beyond the current headwinds, RYAM has a
tremendous opportunity to drive significant upside for its
shareholders through capturing value from our Cellulose Specialties
offerings, unlocking the potential of our Biomaterials business,
reducing our commodity exposure, and addressing our balance
sheet."
Key Highlights:
- Core Cellulose Specialties business expected to benefit from
recent capacity closure in the industry.
- Focus on generating free cash flow and repaying debt to
position the Company to refinance its 2026 Notes in 2024.
- Investments to expand Biomaterials business provide compelling
growth prospects financed with low-cost capital.
- Conducting strategic review of Temiscaming site including a
potential sale of non-core businesses with proceeds expected to be
applied toward debt reduction.
- Executing strategy to minimize negative EBITDA impact of
commodity viscose and paper pulp products.
- Demonstrating a willingness to curtail production based on
market conditions.
- Near-term hurdles with expected lower third-quarter results and
guidance for the full year. A more detailed update to be provided
at the next quarter earnings call in early November.
- Financial vision centered on achieving $325 million in annual
EBITDA over the next five years.
A replay of the 2023 Investor Day event will be available
tomorrow at www.RYAM.com in the Investors section.
About RYAM
RYAM is a global leader of cellulose-based technologies,
including high purity cellulose specialties, a natural polymer
commonly found in filters, food, pharmaceuticals, and other
industrial applications. The Company also manufactures products for
paper and packaging markets. With manufacturing operations in the
U.S., Canada, and France, RYAM employs just over 2,500 people and
generated an estimated $1.7 billion of revenues in 2022. More
information is available at www.RYAM.com.
Forward-Looking Statements
Certain statements in this document regarding anticipated
financial, business, legal, or other outcomes, including business
and market conditions, outlook, and other similar statements
relating to Rayonier Advanced Materials’ or future or expected
events, developments, or financial or operational performance or
results, are "forward-looking statements" made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995 and other federal securities laws. These forward-looking
statements are identified by the use of words such as "may,"
"will," "should," "expect," "estimate," "believe," "intend,"
"anticipate," and other similar language. However, the absence of
these or similar words or expressions does not mean that a
statement is not forward-looking. While we believe these
forward-looking statements are reasonable when made,
forward-looking statements are not guarantees of future performance
or events, and undue reliance should not be placed on these
statements. Although we believe the expectations reflected in any
forward-looking statements are based on reasonable assumptions, we
can give no assurance that these expectations will be attained. It
is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of
risks and uncertainties.
Other important factors that could cause actual results or
events to differ materially from those expressed in forward-looking
statements that may have been made in this document are described
or will be described in our filings with the U.S. Securities and
Exchange Commission, including our Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. Rayonier Advanced Materials assumes
no obligation to update these statements except as is required by
law.
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