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materion.com

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About Materion

Materion (NYSE: MTRN) produces and sells engineered materials for use in various electrical, electronic, thermal, and structural applications primarily in the United States, Europe, and Asia. The company offers precious, non-precious, and specialty metal products, including vapor deposition targets, frame lid assemblies, clad and precious metal preforms, high temperature braze materials, wires, chemicals, optics, performance coatings, microelectronic packages, and specialty inorganic chemicals.

Materion Headquarter Location

6070 Parkland Blvd.

Mayfield Heights, Ohio, 44124,

United States

216-486-4200

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Latest Materion News

Materion Corporation Reports Record Quarterly Results and Raises Full Year 2022 Outlook

Apr 28, 2022

04/28/2022 | 07:31am EDT Message : *Required fields Materion Corporation (NYSE: MTRN) today reported first quarter financial results, provided updated 2022 earnings guidance, and shared an update on key strategic initiatives. First Quarter 2022 Highlights Net sales were $449.0 million; value-added sales increased year over year to a record $266.8 million, up 34% Operating profit was $19.6 million; adjusted earnings before interest, taxes, depreciation, depletion and amortization (EBITDA) was a record at $44.6 million, an increase of 49% and 160-basis point margin expansion year over year Net income of $0.68 per share, diluted; record adjusted earnings per share (EPS) of $1.20, up 38% year over year; adjusted EPS with acquisition amortization of $1.08, up 32% versus prior year Awarded significant expansion of precision clad strip business with approximately $40 million up-front customer investment “I’m extremely proud of our talented team for continuing the momentum with a strong start to 2022, delivering another record quarter, meeting strong end market demand and realizing the benefits of organic outgrowth initiatives and strategic acquisitions,” Jugal Vijayvargiya, Materion President & Chief Executive Officer said. “With our sharp focus on operational excellence and pricing, we were able to deliver record sales and earnings, despite the inflationary environment and other challenges persisting in recent months.” “We are accelerating our transformation into a leading provider of advanced materials solutions with the first full quarter of sales from the HCS-Electronic Materials acquisition delivering exceptional growth in the fast-growing semiconductor market,” Vijayvargiya continued. “Our broad organic initiatives continue to ramp meaningfully, also contributing strong growth in the quarter, and building solid demand for the future. Our customer-funded precision clad strip plant is nearly complete and on track to contribute meaningfully to our second half results. With the substantial progress so far and exceptional support our team has provided, the customer has made the decision to significantly expand capacity with us and further invest approximately $40 million in our new facility. This award underscores the confidence our customers have in us to support their continued growth and affirms our role as a critical partner in the development of innovative solutions for their most important technical challenges.” FIRST QUARTER 2022 RESULTS Net sales for the first quarter of 2022 were $449.0 million, compared to $354.4 million in the prior year first quarter. Value-added sales of $266.8 million were a quarterly record, up 34% from the prior year. In addition to the benefit of the HCS-Electronic Materials acquisition, value-added sales were up 13% organically, driven by strong performance across several major end markets including semiconductor, energy, aerospace and industrial. Operating profit for the first quarter was $19.6 million and net income was $14.0 million, or $0.68 per diluted share, compared to an operating profit of $19.7 million and net income of $16.8 million, or $0.81 per diluted share in the prior year period. Excluding acquisition and restructuring related costs as detailed in the attached tables, adjusted EBITDA was $44.6 million in the first quarter, another quarterly record and an increase of 49% versus the prior year period. Adjusted net income was $24.9 million excluding acquisition amortization, or $1.20 per diluted share, an increase of 38% compared to $0.87 per share in the prior year period. OUTLOOK With continued strong end market demand, organic outgrowth resulting from our customer initiatives, and the full year impact of the HCS-Electronic Materials acquisition, we are raising the 2022 adjusted earnings per share guidance to the range of $5.50 to $5.90. ADJUSTED EARNINGS GUIDANCE It is not possible for the Company to identify the amount or significance of future adjustments associated with potential insurance and litigation claims, legacy environmental costs, acquisition and integration costs, certain income tax items, or other non-routine costs that the Company adjusts in the presentation of adjusted earnings guidance. These items are dependent on future events that are not reasonably estimable at this time. Accordingly, the Company is unable to reconcile without unreasonable effort the forecasted range of adjusted earnings guidance for the full year to a comparable GAAP range. However, items excluded from the Company's adjusted earnings guidance include the historical adjustments noted in Attachments 4 and 5 to this press release. CONFERENCE CALL Materion Corporation will host an investor conference call with analysts at 9:00 a.m. Eastern Time, April 28, 2022. The conference call will be available via webcast through the Company’s website at www.materion.com or through www.InvestorCalendar.com . By phone, please dial (888) 506-0062. Calls outside the U.S. can dial (973) 528-0011; please reference participant access code of 741039 if dialing in. A replay of the call will be available until May 12, 2022 by dialing (877) 481-4010 or (919) 882-2331 if international; please reference replay ID number 44227. The call will also be archived on the Company’s website. FORWARD-LOOKING STATEMENTS Portions of the narrative set forth in this document that are not statements of historical or current facts are forward-looking statements. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors. These factors include, in addition to those mentioned elsewhere herein: our ability to achieve the strategic and other objectives related to the acquisition of HCS-Electronic Materials, including any expected synergies; our ability to successfully integrate the HCS-Electronic Materials business and other such acquisitions and achieve the expected results of the acquisition, the ultimate impact of the COVID-19 pandemic on our business, results of operations, financial condition, and liquidity; the global economy, including the impact of tariffs and trade agreements; the condition of the markets which we serve, whether defined geographically or by segment; changes in product mix and the financial condition of customers; our success in developing and introducing new products and new product ramp-up rates; our success in passing through the costs of raw materials to customers or otherwise mitigating fluctuating prices for those materials, including the impact of fluctuating prices on inventory values; our success implementing our strategic plans and the timely and successful completion and start-up of any capital projects; other financial and economic factors, including the cost and availability of raw materials (both base and precious metals), physical inventory valuations, metal consignment fees, tax rates, exchange rates, interest rates, pension costs and required cash contributions and other employee benefit costs, energy costs, regulatory compliance costs, the cost and availability of insurance, credit availability, and the impact of the Materion’s stock price on the cost of incentive compensation plans; the uncertainties related to the impact of war, terrorist activities, and acts of God; changes in government regulatory requirements and the enactment of new legislation that impacts our obligations and operations; the conclusion of pending litigation matters in accordance with our expectation that there will be no material adverse effects; the disruptions on operations from, and other effects of, catastrophic and other extraordinary events; and the risk factors set forth in Part 1, Item 1A of our 2021 Annual Report on Form 10-K. Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Attachment 1

Materion Acquisitions

6 Acquisitions

Materion acquired 6 companies. Their latest acquisition was H.C. Starck - Electronic Materials on September 20, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

9/20/2021

$99M

Acquired Unit

2

6/8/2020

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$99M

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10

12/19/2016

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$99M

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10

12/5/2016

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$99M

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10

3/4/2012

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$99M

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0

Date

9/20/2021

6/8/2020

12/19/2016

12/5/2016

3/4/2012

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acquired Unit

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Sources

2

10

10

10

0

Materion Partners & Customers

10 Partners and customers

Materion has 10 strategic partners and customers. Materion recently partnered with Rubin Observatory on May 5, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

5/17/2021

Partner

United States

Materion Corporation - Materion Partners With Rubin Observatory To Give Astronomers A Deeper and Wider View Of The Universe

MAYFIELD HEIGHTS , Ohio -- -- Materion Corporation continues to build on its 50-year legacy of supporting space exploration and observation by partnering with The Vera C. Rubin Observatory on a first-of-its-kind custom optical filter set to be used on the Legacy Survey of Space and Time Telescope currently under construction in Chile .

1

5/27/2020

Client

Germany

Materion to supply coolant for Kairos molten salt reactor

Kairos has entered into a strategic collaboration with advanced materials supplier Materion Corporation to develop a reliable and cost-effective supply of coolant for its fluoride salt-cooled , high-temperature reactor .

1

12/6/2018

Licensee

United States

MAYFIELD HEIGHTS, Ohio–(BUSINESS WIRE)–Dec. Eutectix and Materion announce Licensing Agreement for Bulk Metallic Glass – Eutectix

6 , 2018 -- Materion Corporation announced that it has entered into an intellectual property licensing agreement with New Jersey-based Eutectix LLC .

4

11/7/2018

Partner

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10

3/15/2018

Distributor

Germany

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10

Date

5/17/2021

5/27/2020

12/6/2018

11/7/2018

3/15/2018

Type

Partner

Client

Licensee

Partner

Distributor

Business Partner

Country

United States

Germany

United States

Germany

News Snippet

Materion Corporation - Materion Partners With Rubin Observatory To Give Astronomers A Deeper and Wider View Of The Universe

MAYFIELD HEIGHTS , Ohio -- -- Materion Corporation continues to build on its 50-year legacy of supporting space exploration and observation by partnering with The Vera C. Rubin Observatory on a first-of-its-kind custom optical filter set to be used on the Legacy Survey of Space and Time Telescope currently under construction in Chile .

Materion to supply coolant for Kairos molten salt reactor

Kairos has entered into a strategic collaboration with advanced materials supplier Materion Corporation to develop a reliable and cost-effective supply of coolant for its fluoride salt-cooled , high-temperature reactor .

MAYFIELD HEIGHTS, Ohio–(BUSINESS WIRE)–Dec. Eutectix and Materion announce Licensing Agreement for Bulk Metallic Glass – Eutectix

6 , 2018 -- Materion Corporation announced that it has entered into an intellectual property licensing agreement with New Jersey-based Eutectix LLC .

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Sources

1

1

4

10

10

Materion Service Providers

1 Service Provider

Materion has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Acquired

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Acquired

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

Materion Team

3 Team Members

Materion has 3 team members, including current President, Clive Grannum.

Name

Work History

Title

Status

Clive Grannum

Olin Corp., The Dow Chemical Company, Rohm and Haas Company, and BOC Group

President

Current

Joseph P. Kelley

Chief Financial Officer

Current

Joseph Dickson

President

Former

Name

Clive Grannum

Joseph P. Kelley

Joseph Dickson

Work History

Olin Corp., The Dow Chemical Company, Rohm and Haas Company, and BOC Group

Title

President

Chief Financial Officer

President

Status

Current

Current

Former

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