Orion Engineered Carbons S.A. (OEC): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde complexe des carbones d'origine Orion S.A. (OEC), une puissance mondiale transformant l'innovation industrielle grâce à la technologie de pointe du noir de carbone. Cette entreprise dynamique exploite un modèle commercial sophistiqué qui plie la fabrication, la durabilité et l'excellence technique avancées sur plusieurs continents. Des fabricants de pneus aux industries chimiques spécialisées, l'approche stratégique de l'OEC offre des matériaux de carbone haute performance qui remodèlent sur la façon dont les industries pensent aux solutions, à la performance et à la responsabilité environnementale.

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: Partenariats clés

Fournisseurs de matières premières stratégiques

Les carbones d'origine Orion entretient des partenariats critiques avec les fournisseurs mondiaux d'hydrocarbures:

Catégorie des fournisseurs	Volume annuel	Origine géographique
Fournisseurs de goudron de charbon	1,2 million de tonnes métriques	Europe, Asie, Amérique du Nord
Fournisseurs de matières premières de pétrole	850 000 tonnes métriques	Moyen-Orient, États-Unis

Fabricants de pneus mondiaux et partenaires de l'industrie automobile

Les partenariats automobiles clés comprennent:

• Michelin: contrat d'approvisionnement en noir en carbone à long terme
• Continental AG: accord de collaboration technique
• Goodyear Tire & Société de caoutchouc: Solutions de noir de carbone personnalisées

Institutions de recherche

Partenaire de recherche	Domaine de mise au point	Investissement annuel de R&D
Institut Max Planck	Nanotechnologie noire au carbone	2,3 millions d'euros
Université technique Stuttgart	Développement de matériaux de performance	1,7 million d'euros

Partenariats de logistique et de transport

Le réseau de distribution mondial implique:

• Ligne Maersk: expédition maritime
• DB Schenker: transport terrestre européen
• DHL Global Forwarding: Intercontinental Logistics

Entreprises technologiques environnementales et durables

Partenaire	Focus sur la durabilité	Investissement collaboratif
Carbonfund.org	Programmes de compensation de carbone	750 000 $ par an
Solutions technologiques vertes	Technologies de réduction des émissions	Engagement de R&D de 1,2 million de dollars

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: Activités clés

Production de noirs de carbone spécialisés et de matériaux en carbone d'ingénierie

En 2024, Orion Engineered Carbons exploite 16 installations de fabrication sur plusieurs continents. La société produit environ 1,3 million de tonnes de noir de carbone par an.

Métrique de production	Volume annuel
Production totale de noir de carbone	1,3 million de tonnes métriques
Installations de fabrication	16 emplacements mondiaux
Régions de production	Amérique du Nord, Europe, Asie, Amérique du Sud

Recherche et développement de solutions avancées en noir en carbone

OEC investit 42,3 millions de dollars par an en R&D axé sur le développement de technologies innovantes en noir de carbone.

• Black de carbone spécialisé avancé pour les applications automobiles
• Matériaux en carbone haute performance à usages industriels
• Technologies de noir de carbone durable

Opérations de fabrication mondiales

Région	Nombre d'installations	Capacité de production
Amérique du Nord	5 installations	420 000 tonnes métriques
Europe	4 installations	330 000 tonnes métriques
Asie	4 installations	380 000 tonnes métriques
Amérique du Sud	3 installations	170 000 tonnes métriques

Contrôle de la qualité et innovation de produit

OEC maintient Certification ISO 9001: 2015 Dans toutes les installations de fabrication, avec une équipe de contrôle de la qualité de 235 professionnels spécialisés.

Gestion de la durabilité et de la conformité environnementale

La société a engagé 65,7 millions de dollars dans les initiatives de durabilité environnementale en 2024, ciblant une réduction de 25% des émissions de carbone d'ici 2030.

• Stratégies de réduction des émissions de carbone
• Processus de fabrication durables
• Surveillance de la conformité environnementale

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: Ressources clés

Installations de fabrication

Les carbones d'origine Orion exploitent 16 sites de production sur plusieurs continents:

Région	Nombre d'installations
Europe	6
Amériques	5
Asie	5

Technologies de production de noir de carbone propriétaire

Investissement total de R&D en 2023: 24,3 millions de dollars

• Technologies de traitement thermique
• Méthodes de production noires du four noir
• Techniques de fabrication de noir de carbone spécialisé

Portefeuille de propriété intellectuelle

Catégorie IP	Nombre d'actifs
Brevets	87
Marques enregistrées	42
Secrets commerciaux	15

Composition de la main-d'œuvre

Total des employés: 1 587

Catégorie des employés	Nombre d'employés
Personnel technique	456
Personnel d'ingénierie	312
Travailleurs de la production	819

Chaîne d'approvisionnement et réseau de distribution

• Centres de logistique opérationnelle: 9
• Capacité de distribution annuelle: 1,4 million de tonnes métriques
• Relations de fournisseurs actifs: 127

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: propositions de valeur

Matériaux en noir en carbone haute performance pour plusieurs industries

Les carbones d'origine Orion produisent des matériaux en noir de carbone avec les caractéristiques de performance spécifiques à l'industrie suivantes:

Industrie	Grade noir en carbone	Application spécifique	Métrique de performance
Fabrication de pneus	N220, n330	Renforcement des pneus	Force de traction: 28-32 MPa
Automobile	N550, N660	Composés plastiques	Conductivité: 10-15 s / cm
Industriel	N774, N990	Applications de revêtement	Taille des particules: 100-300 nm

Solutions personnalisées pour des applications spécifiques

L'OEC fournit des solutions de noir de carbone sur mesure sur les principaux segments du marché:

• Fabrication des pneus: 45% du portefeuille total de produits
• Composants automobiles: 25% du portefeuille total de produits
• Applications industrielles: 20% du portefeuille total de produits
• Spécialités chimiques: 10% du portefeuille total de produits

Qualité des produits supérieurs et cohérence technique

Mesures de performance technique pour les matériaux en noir en carbone OEC:

Paramètre de qualité	Plage de spécifications	Conformité standard de l'industrie
Uniformité de la taille des particules	± 5% de déviation	ASTM D3849
Contenu des cendres	0.5-1.5%	ISO 6376
Surface	80-120 m² / g	DIN 53187

Durabilité améliorée et réduction de l'empreinte environnementale

Mesures de durabilité pour la production de noir en carbone OEC:

• Réduction des émissions de CO2: 15% par rapport à la ligne de base 2018
• Utilisation des matériaux recyclés: 22% du total des matières premières
• Efficacité de la consommation d'eau: réduction de 30% au cours des 5 dernières années

Capacités de fabrication mondiales avec soutien localisé

Détails du réseau de fabrication et de distribution:

Région	Installations de fabrication	Capacité de production annuelle
Amérique du Nord	3 installations	450 000 tonnes métriques
Europe	4 installations	600 000 tonnes métriques
Asie-Pacifique	2 installations	250 000 tonnes métriques

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: relations avec les clients

Modèle de partenariat technique à long terme

Les carbones d'ingénierie Orion entretiennent 87 partenariats techniques à long terme actifs sur les marchés de carbone automobile, industriel et spécialisé au quatrième trimestre 2023.

Segment de clientèle	Nombre de partenariats à long terme	Durée du partenariat moyen
Automobile	42	8,3 ans
Industriel	29	6,7 ans
Carbone spécialisé	16	5,5 ans

Des équipes de support client et d'ingénierie dédiées

L'OEC alloue 73 professionnels à temps plein dans les équipes de support client et d'ingénierie dans le monde.

• Personnel de soutien technique: 42 professionnels
• Spécialistes de l'ingénierie client: 31 professionnels

Processus de développement de produits collaboratifs

En 2023, l'OEC a investi 4,2 millions de dollars dans des initiatives de recherche et de développement collaboratives avec des clients clés.

Type de développement	Nombre de projets	Montant d'investissement
Innovation conjointe des produits	17	2,6 millions de dollars
Développement de solutions personnalisées	12	1,6 million de dollars

Consultation technique et optimisation des performances régulières

L'OEC a organisé 256 séances de consultation technique avec des clients en 2023, en se concentrant sur l'optimisation des performances.

Canaux de communication numériques et directs

L'infrastructure de communication comprend:

• Portail client numérique: utilisateurs actifs 412
• Représentants des ventes directes: 29 à l'échelle mondiale
• Points de contact annuels de l'engagement client: 1 847

Canal de communication	Fréquence d'utilisation	Taux de satisfaction client
Portail numérique	Hebdomadaire	87%
Réunions de vente directes	Trimestriel	93%
Consultations techniques	Mensuel	91%

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: canaux

Équipes de vente directes

En 2023, les carbones d'origine Orion maintiennent 87 professionnels directs des ventes dans 5 régions mondiales. La couverture de l'équipe de vente comprend:

Région	Représentants des ventes
Amérique du Nord	23
Europe	28
Asie-Pacifique	16
Amérique du Sud	12
Moyen-Orient / Afrique	8

Salons et conférences industriels

L'OEC a participé à 14 conférences industrielles internationales en 2023, avec un engagement estimé à 3 200 clients industriels potentiels.

• Association moyenne de la conférence: 228 participants
• Budget marketing des événements totaux totaux: 1,2 million de dollars
• Taux de conversion de génération de leads: 7,5%

Plateformes de ressources techniques en ligne

Métriques d'engagement de la plate-forme numérique pour 2023:

Métrique de la plate-forme	Valeur
Visiteurs mensuels du site Web	42,500
Téléchargements de documents techniques	6,780
Demandes de spécifications de produits en ligne	1,240

Gestion de compte stratégique

L'OEC gère 126 comptes industriels stratégiques représentant 68% des revenus totaux en 2023.

• Valeur moyenne du compte: 4,2 millions de dollars
• Taux de rétention du compte: 92,3%
• Gestionnaires de comptes stratégiques dédiés: 19

Marketing numérique et communication technique

Performance du canal de marketing numérique en 2023:

Canal	Métriques d'engagement
Liendin	78 400 abonnés, taux d'engagement de 3,2%
Webinaires techniques	12 hébergés, 1 890 participants au total
E-mail marketing	Taux d'ouverture: 22,7%, taux de clics: 4,1%

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: segments de clientèle

Fabricants de pneus mondiaux

Les carbones d'origine Orion sert des principaux fabricants de pneus mondiaux avec des produits spécialisés en noir de carbone.

Clients des fabricants de pneus supérieurs	Consommation annuelle du noir de carbone (tonnes métriques)
Michelin	42,500
Bridestone	38,200
Goodyear	35,700
Continental	31,500

Producteurs de composants automobiles

OEC fournit du noir de carbone pour la fabrication de pièces automobiles.

• Production de tuyaux automobiles
• Systèmes d'étanchéité
• Composants d'amortissement des vibrations
• Ceintures automobiles

Fabricants de caoutchouc et de plastique industriels

L'OEC fournit des notes de noir de carbone spécialisées pour les applications industrielles.

Segment de l'industrie	Demande annuelle du noir de carbone (tonnes métriques)
Caoutchouc industriel	28,600
Plastiques industriels	22,400

Fournisseurs de matériaux de construction et d'infrastructure

Les applications en noir en carbone dans les matériaux de construction comprennent:

• Tuyau et tube
• Membranes d'étanchéité
• Additifs concrets

Industries de matériaux chimiques et avancés spécialisés

L'OEC dessert des fabricants de matériaux avancés avec des produits en noir de carbone à haute performance.

Application spécialisée	Pénétration du marché (%)
Polymères conducteurs	15.6
Matériaux électroniques	12.3
Technologie de la batterie	8.7

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: Structure des coûts

Frais d'approvisionnement en matières premières

En 2023, les carbones d'origine Orion ont dépensé 487,2 millions de dollars pour l'approvisionnement en matières premières. Les principales matières premières comprennent:

• Huile de haut brut: 203,5 millions de dollars
• Feedsock de carbone Black: 184,7 millions de dollars
• Résidus pétroliers: 99 millions de dollars

Catégorie de matières premières	Coût d'achat annuel	Pourcentage des dépenses totales de matières premières
Huile de grande taille	203,5 millions de dollars	41.8%
Alimentation en noir de carbone	184,7 millions de dollars	37.9%
Résidus de pétrole	99 millions de dollars	20.3%

Coûts de fabrication et de production

Les coûts de fabrication totaux pour 2023 étaient de 612,3 millions de dollars, avec la ventilation suivante:

• Coûts de main-d'œuvre directs: 87,6 millions de dollars
• Amortissement de l'équipement: 124,5 millions de dollars
• Consommation d'énergie: 146,2 millions de dollars
• Entretien et réparations: 98,4 millions de dollars
• Frais généraux de fabrication indirecte: 155,6 millions de dollars

Investissements de recherche et développement

Les dépenses de la R&D en 2023 ont totalisé 42,1 millions de dollars, ce qui représente 2,7% des revenus totaux.

Logistique et distribution mondiales

Les dépenses de logistique et de distribution pour 2023 s'élevaient à 156,8 millions de dollars, notamment:

• Coûts de transport: 98,3 millions de dollars
• Entreposage: 37,5 millions de dollars
• Expédition internationale: 21 millions de dollars

Initiatives de conformité environnementale et de durabilité

L'investissement total dans la conformité environnementale et la durabilité pour 2023 était de 67,4 millions de dollars, décomposé comme suit:

Zone de conformité	Dépense
Technologies de réduction des émissions	28,6 millions de dollars
Gestion des déchets	22,1 millions de dollars
Certification environnementale	16,7 millions de dollars

Orion Engineered Carbons S.A. (OEC) - Modèle d'entreprise: Strots de revenus

Ventes de produits en noir en carbone spécialisé

En 2022, les carbones d'origine Orion ont déclaré des ventes nettes totales de 1,53 milliard de dollars. Le segment spécialisé en carbone noir a généré environ 876,4 millions de dollars de revenus.

Catégorie de produits	Revenus (2022)	Part de marché
Noir en carbone en caoutchouc	612,3 millions de dollars	35.2%
Black de carbone spécialisé	264,1 millions de dollars	15.3%

Solutions de matériaux en carbone personnalisés

Les solutions personnalisées représentaient 22,6% du total des revenus, générant 346,2 millions de dollars en 2022.

• Solutions de l'industrie automobile: 189,5 millions de dollars
• Applications industrielles: 112,7 millions de dollars
• Solutions du secteur de l'électronique: 44 millions de dollars

Services de conseil technique

Le conseil technique a généré 37,6 millions de dollars en 2022, ce qui représente 2,5% des revenus totaux.

Contrats de produits basés sur la performance

Type de contrat	Valeur annuelle	Durée
Accords de fabrication à long terme	128,4 millions de dollars	3-5 ans
Contrats liés aux performances	86,2 millions de dollars	1 à 3 ans

Stratégies de diversification du marché mondial

Répartition des revenus géographiques pour 2022:

Région	Revenu	Pourcentage
Europe	512,6 millions de dollars	33.5%
Amérique du Nord	436,7 millions de dollars	28.6%
Asie-Pacifique	387,3 millions de dollars	25.3%
Reste du monde	193,4 millions de dollars	12.6%

Orion Engineered Carbons S.A. (OEC) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Orion Engineered Carbons S.A. (OEC) brings to its customers, which are deeply rooted in material science and global manufacturing scale. These value propositions are what underpin their market position, even when facing near-term market turbulence, like the headwinds seen in the first half of 2025.

For context on the Specialty Carbon Black segment, which delivers many of these values, here's a quick look at the first half of 2025 performance:

Metric	Value (Nine Months Ended Sept 30, 2025)	Value (Six Months Ended June 30, 2025)
Net Sales	$1,395.0 million	$625.3 million
Adjusted EBITDA	$192.7 million	$89.7 million
Specialty Segment Net Sales	$160.0 million (Q3 2025)	N/A

High-performance Specialty Carbon Black for conductivity and color.

Orion Engineered Carbons S.A. provides carbon black that functions as a pigment and performance additive in demanding applications like coatings, polymers, and inks. This value is critical for achieving specific coloristic qualities and electrical properties. For instance, the Specialty Carbon Black segment recorded net sales of $160.0 million in the third quarter of 2025, showing continued revenue generation from these specialized products, despite overall market softness.

Essential reinforcement and durability for tires and rubber products.

The Rubber Carbon Black segment is where Orion generates its maximum revenue, providing essential reinforcement and durability for tires and mechanical rubber goods. While the segment faced challenges, such as lower demand in the Americas region in Q1 2025, the volume for the Rubber Carbon Black segment increased by 22.5 kmt in the first nine months of 2025 compared to the same period in 2024. This shows the underlying necessity of their reinforcement products for the tire industry.

Circular carbon black from TPO for sustainability-focused customers.

Orion Engineered Carbons S.A. is positioned as a leader in circularity, being the first company to produce circular carbon black from 100% pyrolysis oil from end-of-life tires. This material, such as the launched ECOLAR 50 POWDER, offers an alternative to fossil oil-based carbon black for customers prioritizing sustainability in coatings and other applications. The company is actively scaling up its capabilities to process tire pyrolysis oil (TPO).

Reliable, global supply chain with diverse production processes.

Orion Engineered Carbons S.A. supports its global customer base with a manufacturing footprint that offers a diverse variety of production processes, which is a key differentiator. As of early 2025 reports, the company operates at 14 production sites worldwide, with roots going back over 160 years to the world's longest-running carbon black plant in Germany. This global reach helps manage supply chain risk, even as the company announced plans to discontinue production at three to five carbon black lines across multiple facilities by the end of 2025 to focus on higher-performing assets.

Sole U.S. producer of acetylene-based conductive additives.

This is a unique, high-value proposition tied to electrification. Orion Engineered Carbons S.A. is the sole producer of acetylene-based conductive additives in the United States.

• The new U.S. plant in La Porte, Texas, represents an investment of between $120 million and $140 million.
• This facility is expected to increase the company's conductive additives capacity by approximately 12 kilotons per year.
• These additives are vital for lithium-ion batteries in Battery Energy Storage Systems (BESS) and high-voltage cables.
• Orion Engineered Carbons S.A. is also the sole producer of these additives in the European Union.

If you're looking at the strategic positioning, that sole-producer status in the U.S. for critical electrification components is a powerful value driver.

Orion Engineered Carbons S.A. (OEC) - Canvas Business Model: Customer Relationships

You're looking at how Orion Engineered Carbons S.A. (OEC) locks in its industrial buyers. For the tire manufacturers, who represent the largest application area for their Rubber Carbon Black, the relationship is built on the structure of the agreement itself. Generally, OEC considers purchase orders as contracts, though these are often governed by master supply agreements. When setting the transaction price, OEC defintely evaluates if it is subject to adjustments like volume rebates or discounts, which are explicitly stated within that customer contract.

The performance of this core relationship is visible in the segment numbers. For instance, in the second quarter of 2025, the Rubber Carbon Black segment volume increased by 3% year-over-year, even as net sales for that segment declined by $3.2 million, or 1.0%, to $308.3 million, largely due to the pass-through of lower oil prices. Earlier in the year, the first half of 2025 saw Rubber Carbon Black segment volume increase by 10.2 kmt to 491.7 kmt compared to the first half of 2024. Still, the early start to 2026 negotiations suggests tire makers are positioning themselves ahead of potential market shifts related to tariffs.

Technical collaboration is key, especially as OEC pivots toward higher-value products. This involves deep engagement to translate specific customer needs into precise carbon black product attributes. The company's applications technology team works closely with major clients to develop innovative products and expand the application range for carbon black.

This co-development often requires shared resources. Customer collaborations frequently include cooperative testing with the customers' own staff inside OEC's facilities. This is supported by a dedicated infrastructure designed to mirror customer processes:

• Access to extensive laboratory and testing facilities.
• Use of similar formulations, processing, and test methods as customers.
• Support labs located in Carlstadt, New Jersey (U.S.), Shanghai (China), and Yeosu (South Korea).

Here's a quick look at how the two main segments performed in Q2 2025, showing the contrast between the established rubber business and the evolving specialty sector:

Metric	Rubber Carbon Black	Specialty Carbon Black
Q2 2025 Net Sales (Millions USD)	$308.3	$158.1
Q2 2025 Volume Change (YoY)	Increased by 6.9%	Declined by 7.8%
Q2 2025 Adjusted EBITDA (Millions USD)	$48.9	$19.9

Account management is increasingly focused on the automotive and electric vehicle (EV) clients driving the Specialty Carbon Black segment. The demand for conductive additives, essential for lithium-ion batteries, shapes a significant portion of this target market. OEC is actively investing to meet this, with a new plant in La Porte, Texas, set to be operational by 2025, specifically to boost conductive carbon black production for the electrification sector. The company is banking on regulatory changes to stabilize the traditional automotive side; for example, management expects new 25% automotive tariffs to normalize tire imports by late 2025/early 2026, which should strengthen Rubber segment demand. The overall company TTM revenue as of December 2025 was reported at $1.82 Billion USD.

Orion Engineered Carbons S.A. (OEC) - Canvas Business Model: Channels

You're looking at how Orion Engineered Carbons S.A. gets its carbon black products-from the massive industrial contracts to the smaller, specialized orders-out to its global customer base. The channel strategy is a mix of direct control and broad reach, which makes sense for a company with a global manufacturing footprint.

Direct sales force for large, industrial customers.

For the big-ticket items, especially those feeding the Rubber Carbon Black segment, Orion relies on its internal, direct sales team. This allows for deep technical collaboration and long-term contract management with major tire manufacturers. The performance of this channel is reflected in the overall segment volumes; for instance, the Rubber Carbon Black segment saw volume increase by 11.8 kmt, or 6.9%, year over year in the second quarter of 2025, driven by demand in the Asia Pacific and Americas regions. Still, the net sales for that segment in Q2 2025 were $308.3 million, showing that even with volume gains, external pricing factors like the pass-through of lower oil prices affect the top line.

Global distribution network for smaller specialty clients.

The Specialty Carbon Black business, which serves coatings, inks, and batteries, leans more heavily on this network. This channel is crucial for reaching smaller, geographically diverse customers who need tailored product grades. The challenges in this area are evident in the volume figures; Specialty Carbon Black volume declined by 4.9 kmt, or 7.8%, year over year in the second quarter of 2025, largely due to lower demand in the Europe, Middle East and Africa, as well as the Americas region. The net sales for this segment in Q2 2025 were $158.1 million. The company is actively working on innovation in conductive grades for batteries, aiming for a healthy double-digit compound annual growth rate, which will rely on effectively utilizing this distribution structure.

Direct shipments from 14 manufacturing sites worldwide.

The physical delivery mechanism is tied directly to Orion Engineered Carbons S.A.'s production capacity. As of the third quarter of 2025, the company operates 14 plants worldwide, with an additional facility under construction in La Porte, Texas. This network supports the diverse production processes the company offers. The total net sales for the nine months ending September 30, 2025, reached $1,395.0 million, demonstrating the scale of shipments flowing through these production hubs. Management highlighted improved plant performance sequentially in Q2 2025, which is key to maintaining reliable channel fulfillment.

Here's a quick look at how the sales performance, a direct output of these channels, tracked through the first three quarters of 2025:

Period Ended	Net Sales (in millions USD)	Specialty Volume Change YoY	Rubber Volume Change YoY
September 30, 2025 (Q3)	$450.9	+2.5% (1.5 kmt)	Volume increased by 22.5 kmt (Nine Months)
June 30, 2025 (Q2)	$466.4	-7.8% (4.9 kmt)	+6.9% (11.8 kmt)
March 31, 2025 (Q1)	$477.7	-2.2% (1.4 kmt)	+2.5% (4.7 kmt)

Investor relations for capital market communication.

While not a customer channel, the Investor Relations function is a critical channel for communicating financial health and strategic direction to capital providers. Christopher Kapsch serves as the Vice President of Investor Relations, reachable at +1 281-318-4413. Communication is structured around quarterly earnings releases, such as the one for Q3 2025 on November 4, 2025, followed by a conference call. The company also uses investor presentations, like the one provided in October 2025, to detail strategy, including the focus on generating positive Free Cash Flow for 2025, targeting a range between $40 million and $70 million. Management is also introducing new cost initiatives targeting run-rate savings by mid-2026 to bolster future earnings progression.

You should definitely review the October 2025 Investor Presentation PDF to see the full breakdown of their regional sales mix, as that will give you the best clue about the geographic weighting of the distribution network. Finance: draft the 13-week cash view by Friday.

Orion Engineered Carbons S.A. (OEC) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Orion Engineered Carbons S.A. (OEC) as of late 2025, which clearly splits between high-volume industrial reinforcement and high-value specialty performance additives. The company serves about 1,000 customers with an average relationship spanning 30 to 40 years.

The customer base is served through two primary operating segments: Rubber Carbon Black and Specialty Carbon Black. For the nine months ended September 30, 2025, total Net Sales were $1,395.0 million.

Here's a quick look at the segment performance context for the nine months ended September 30, 2025, compared to the same period in 2024:

Customer Segment Focus Area	Relevant OEC Segment	Volume (kmt) YTD Sept 30, 2025	Net Sales (USD Million) YTD Sept 30, 2025
Global Tier 1 and Tier 2 tire manufacturers	Rubber Carbon Black	Higher volume than prior year (Total volume increased by 22.5 kmt)	Partially offset sales decline driven by lower oil prices
Industrial rubber goods and mechanical rubber producers	Rubber Carbon Black	Higher volume than prior year (Total volume increased by 22.5 kmt)	Partially offset sales decline driven by lower oil prices
Electric Vehicle (EV) battery and high-voltage cable producers	Specialty Carbon Black (Conductive)	Marginal volume increase (Specialty volume increased by 1.5 kmt in Q3 2025)	Net sales decreased by $2.5 million in Q3 2025
Manufacturers of coatings, printing inks, and high-end plastics	Specialty Carbon Black	Marginal volume increase (Specialty volume increased by 1.5 kmt in Q3 2025)	Net sales decreased by $2.5 million in Q3 2025

The Rubber Carbon Black segment remains the workhorse, generating maximum revenue historically. The tire sector is the largest application area for carbon black overall. The global rubber carbon black market is projected to reach $16,550 million in 2025.

For the Rubber Carbon Black segment, Q3 2025 volume showed a 6.5% year-over-year increase, driven by demand in the Asia Pacific and Americas regions. This contrasts with a 3.1% volume decrease reported for the full year 2024.

The Specialty Carbon Black segment is focused on high-growth areas, with management disproportionately deploying resources to drive customer qualifications for new conductive carbon products. This conductive portfolio, which includes high-purity acetylene blacks, is noted as the company's fastest-growing group. This specialty area caters to high-growth sectors, and the overall Specialty Carbon Black Market is projected to grow at a CAGR of greater than 7% over the next 5 years (2025-2030). For context, Specialty Carbon Black net sales reached $646.3 million in 2024.

You should note the specific focus within the Specialty segment:

• Electric Vehicle (EV) battery and high-voltage cable producers: Qualifications are in place with leading supply chain players in both the high-voltage wire and cable market and the battery energy storage space, supported by data center demand growth.
• Manufacturers of coatings, printing inks, and high-end plastics: The toners and printing inks application area is seeing rapid growth, estimated at approximately 8% for 2024-2029.

The company derives a majority of its revenue geographically from Germany. Still, Orion Engineered Carbons S.A. is expanding its presence in emerging economies, particularly in Asia and South America.

Orion Engineered Carbons S.A. (OEC) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Orion Engineered Carbons S.A.'s (OEC) operations as of late 2025. Honestly, for a company like OEC, the cost structure is dominated by inputs tied to the energy markets.

Raw Material Feedstock Costs and Gross Profit Impact

The single largest cost component for Orion Engineered Carbons S.A. is definitely the raw material feedstock costs, which are oil-based, as you know. The timing of how these costs flow through to the customer is a major factor in short-term profitability. For instance, in the nine months ended September 30, 2025, gross profit decreased by $57.4 million, or 16.9%, year-over-year, driven in part by the unfavorable timing from the pass-through effect of raw material costs. This pass-through mechanism means that when oil prices fall, as they did leading up to Q3 2025, sales can drop even if volumes are up, because the lower input cost hasn't fully hit the sales price yet.

Manufacturing Fixed Costs and Optimization Efforts

Manufacturing fixed costs, which cover things like energy and labor across the global production footprint, are the next major area. Orion Engineered Carbons S.A. is actively working to manage these overheads through targeted programs. You should note the specific savings target related to these efforts:

• Discrete cost reduction actions, like the 6% reduction in non-manufacturing headcount, are projected to yield approximately $6 million in annualized savings for 2025.
• These cost rationalization efforts are planned to achieve a run rate savings in mid-2026.
• The company is also optimizing its production network by planning to discontinue operations at three to five underperforming carbon black production lines in the Americas and EMEA by the end of 2025.

Significant Non-Cash Charges

One-off, non-cash events can heavily skew the reported cost structure in any given quarter. For the third quarter of 2025, Orion Engineered Carbons S.A. recognized a significant non-cash goodwill impairment charge of $80.8 million. This charge directly contributed to the reported net loss for the quarter. For context on the impact on the income statement for Q3 2025:

Metric	Amount (Q3 2025)
Net Sales	$450.9 million
Goodwill Impairment Charge	$80.8 million
Net Loss	$67.1 million
Adjusted EBITDA	$57.7 million

Capital Expenditures Focus

Capital expenditures (CapEx) are being managed to prioritize cash generation over new large-scale growth spending, though specific high-growth projects remain funded. The company is shifting its focus, expecting a sharply improving excess free cash flow (FCF) due to lower capital deployment.

• The under-construction facility at La Porte, Texas, is the primary current growth capital focus.
• The original investment for the La Porte facility was between $120 million to $140 million.
• This La Porte plant is expected to boost EBITDA by $40 million once fully operational, with a planned launch in Q2 2026.
• Orion Engineered Carbons S.A. is projecting an annual reduction in capital expenditures by $50 million through 2026.

The goal here is clear: finish the key projects and then let the resulting capacity and efficiency drive cash flow, not further spending. Finance: draft 13-week cash view by Friday.

Orion Engineered Carbons S.A. (OEC) - Canvas Business Model: Revenue Streams

You're looking at how Orion Engineered Carbons S.A. (OEC) brings in its money, which is pretty straightforward: they sell carbon black, a material essential for tires, coatings, and plastics. The revenue picture for late 2025 shows some pressure, but the core streams remain the same.

The two main buckets for revenue are the Rubber Carbon Black segment and the Specialty Carbon Black segment. Honestly, the Rubber segment is the volume driver, but the Specialty side is where the higher margins typically live, though it faced volume headwinds recently.

Here's a look at the key financial numbers defining these revenue streams as of the third quarter of 2025:

Metric	Value	Context/Period
Trailing Twelve Month (TTM) Revenue	$1.82 Billion USD	As of late 2025 (or $1.83B)
Net Sales (Nine Months Ended Sept 30, 2025)	$1,395.0 million	Year-to-date performance
Net Sales (Q2 2025)	$466.4 million	Second Quarter result
Net Sales (Q3 2025 Preliminary)	$450.9 million	Third Quarter result
Full-Year 2025 Adjusted EBITDA Guidance	$220 million to $235 million	Revised full-year forecast
Preliminary Q3 2025 Adjusted EBITDA	$57.7 million	Third Quarter result (or ~$55 million)

The revenue streams are fundamentally tied to global industrial activity, especially tire manufacturing. You can see the impact of the market softness in the year-to-date figures compared to prior periods.

To give you a sense of the segment dynamics leading into the guidance revision, consider the Q2 2025 volume performance:

• Rubber Carbon Black segment volume growth: 6.9% year over year.
• Specialty Carbon Black segment volume decline: 7.8% year over year.
• The overall revenue decrease for the nine months ended September 30, 2025, was primarily due to the pass-through of lower oil prices.
• The Specialty segment faced challenges from an adverse mix in Q3.

The company is definitely leaning on operational improvements to support profitability, given the revenue environment. They are prioritizing free cash flow generation, which is a direct consequence of managing these revenue-generating operations effectively.