Neal Sheorey
Executive VP & CFO at Albemarle
Specialties 2025 net sales are projected to be $1,300,000,000 to $1,500,000,000 with adjusted EBITDA of $210,000,000 to $280,000,000 Ketchum's 20 20 5 net sales are projected to be $1,000,000,000 to $1,100,000,000 with adjusted EBITDA of $120,000,000 to $150,000,000 The corporate outlook shows a planned decrease in capital expenditures, which are now expected to total $700,000,000 to $800,000,000 in 2025, down from $1,700,000,000 in 2024. Corporate costs in 2025 are expected to range between 70 and a hundred million dollars. We are seeing the benefits of our non manufacturing cost improvements and the changes in our operating structure. Corporate costs in 2025 are expected to decrease year over year, excluding favorable FX and interest income in the prior year. Adding it all together, slide nine presents Albemarle's comprehensive company roll up for each energy storage market price scenario.