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8-K
KRATON CORP filed this Form 8-K on 04/27/2017
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Kraton First Quarter 2017 Earnings Call 5 Polymer Segment Financial Results (1) See non-GAAP reconciliations included in the accompanying financial tables for the reconciliation of each non-GAAP measure to its most directly comparable GAAP measure. (2) Defined as Adjusted EBITDA as a percentage of revenue. ▪ Sales volume up 2.1% compared to the first quarter 2016 ▪ Cariflex volume up 2.1%, Specialty Polymers volume up 8.1%, Performance Products volume unchanged ▪ Decrease in first quarter 2017 Adjusted EBITDA and associated margin reflects: ▪ Significant increases in raw material costs in the quarter, which were only partially offset due to the timing associated with realization of increases in selling prices ▪ Continued price pressure for certain SIS adhesive grades resulting from global over capacity of SIS ▪ For the TTM period ended March 31, 2017, 60% of the portfolio was comprised of differentiated grades, compared to 59% in the TTM period ended March 31, 2016 Three Months Ended March 31, 2017 2016 ($ In millions) Volume (kT) 76.6 75.1 Revenues: CariflexTM $ 38.0 $ 38.0 Specialty polymers 90.9 85.0 Performance products 141.7 119.9 Other 0.3 0.1 Total $ 270.9 $ 243.0 Operating income $ 41.6 $ 13.9 Adjusted EBITDA(1) $ 32.1 $ 52.2 Adjusted EBITDA margin(2) 11.8% 21.5% Note: May not foot due to rounding.


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