Koppers Holdings Inc. Q4 FY2025 earnings call

• PC team had a refocused effort in 2025, regained customer confidence, and won commercial business in the second half of 2025 which will carry into 2026.
• CMC business is continuing catalyst initiatives to reduce Stickney footprint and improve margins.
• Utility pool business acquired Douglas fir to secure supply chain and enhance market opportunities.

PC segment: Adjusted EBITDA margin was up 370 basis points sequentially. Pleased with full-year margin performance and expect to continue generating in that range going forward. CMC business: Likely to reduce Stickney footprint to a single column. No revenue impact in 2026 due to existing inventory, but less raw material will lead to less sales, cost cuts possible, and margin improvement if pricing stable. Utility pool business: Acquired Douglas fir small business in Oregon, secures supply chain, helps in existing markets and may be jumping-off point for westward expansion.

• PC expects to continue generating margins in the current range and target to do better.
• CMC business impact of reducing footprint won't be realized until 2017.
• Utility pool business acquisition helps in existing market competition and may aid future westward expansion.

• Factors like copper and others that affect margin, with varying success in getting discounts.
• CMC business adjustment may lead to less sales due to reduced raw material.

Q: In PC, are you making significant enough headway on the commercial side of the business where it's actually moving the needle and contributing to anticipated revenue growth?

A: We believe so, happy with commercial wins in the back half of 2025 that will carry into 2026, which helps throughput in plants.

Q: Do you see opportunities in adding to the utility pole business, and has pricing got out of hand?

A: Always open to opportunities, disciplined in process, 2025 had efforts in upping sales skills, technology, sales leadership, and boots on the ground in underrepresented areas, expecting benefits in 2026.