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02-22-2019

Strong Cash Flow

Milacron Reports Full Year and Fourth Quarter 2018 Results

Milacron Holdings Corp., Cincinnati, OH/USA, announced financial results for the full year and fourth quarter ended December 31, 2018.

Full Year Results

For the year ended December 31, 2018, sales of USD 1,258.2 million increased 1.9% from sales of USD 1,234.2 million in the prior year. Excluding the favorable effects of currency movements, sales for the year ended December 31, 2018 increased 1.2% compared to the prior year. On a pro forma basis, sales for the year ended December 31, 2018 increased 4.8% compared to the prior year.

Operating earnings for the year ended December 31, 2018 increased 19.6% to USD 106.6 million compared to operating earnings of USD 89.1 million in the prior year.

Adjusted EBITDA for the year ended December 31, 2018 increased 0.6% to USD 228.6 million, or 18.2% of sales, compared to Adjusted EBITDA of USD 227.3 million, or 18.4% of sales, in the prior year.

Net earnings totaled USD 41.5 million, or USD 0.60 per basic share and USD 0.58 per diluted share, for the year ended December 31, 2018 compared to a net earnings of USD 1.1 million, or USD 0.02 per basic and diluted share, in the prior year.

Adjusted Net Income totaled USD 127.4 million, or USD 1.78 per diluted share, for the year ended December 31, 2018 compared to Adjusted Net Income of USD 128.2 million, or USD 1.81 per diluted share, in the prior year.

Fourth Quarter Results

For the fourth quarter of 2018, sales of USD 311.4 million decreased 4.2% from sales of USD 324.9 million in the same period a year ago. Excluding the unfavorable effects of currency movements, sales for the fourth quarter decreased 1.6% compared to the prior year period. On a pro forma basis, sales for the fourth quarter were flat compared to the prior year period.

Operating earnings for the fourth quarter of 2018 increased 45.2% to USD 15.1 million compared to operating earnings of USD 10.4 million in the prior year period.
Adjusted EBITDA for the fourth quarter of 2018 decreased 10.9% to USD 53.8 million, or 17.3% of sales, compared to Adjusted EBITDA of USD 60.4 million, or 18.6% of sales, in the prior year period.

Net earnings totaled USD 5.8 million, or USD 0.08 per basic and diluted share, in the fourth quarter of 2018 compared to net earnings of USD 3.3 million, or USD 0.05 per basic and diluted share, in the prior year period. Adjusted Net Income totaled USD 34.1 million, or USD 0.48 per diluted share, in the fourth quarter of 2018 compared to Adjusted Net Income of USD 42.0 million, or USD 0.59 per diluted share, in the prior year period.

Results in Advanced Plastic Processing Technologies (APPT)

Sales for the fourth quarter of 2018 were USD 178.0 million compared to USD 190.3 million in the same period a year ago. Excluding USD 4.8 million of unfavorable effects of currency movements, sales decreased 3.9% compared to the prior year period. On a pro forma basis, sales for the fourth quarter of 2018 increased 0.8% compared to the prior year period.

Operating earnings for the fourth quarter of 2018 increased to USD 2.5 million compared to an operating loss of USD 4.0 million in the prior year period.
Adjusted EBITDA in the fourth quarter of 2018 increased 5.0% to USD 27.1 million, or 15.2% of sales, from Adjusted EBITDA of USD 25.8 million, or 13.6% of sales, in the prior year period.

For the year ended December 31, 2018, sales were USD 677.2 million compared to USD 689.1 million in the same period a year ago. Excluding USD 2.5 million of unfavorable effects of currency movements, sales decreased 1.4% over the prior year. On a pro forma basis, sales for the year ended December 31, 2018 increased 3.3% compared to the prior year.

Operating earnings for the year ended December 31, 2018 increased 144.4% to USD 28.6 million compared to operating earnings of USD 11.7 million in the prior year.

Adjusted EBITDA for the full year increased 3.2% to USD 89.1 million, or 13.2% of sales, from Adjusted EBITDA of USD 86.3 million, or 12.5% of sales, in the prior year.

Company profile

Milacron LLC Head Office

10200 Alliance Road, Suite 200
CINCINNATI, OH 45242

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