Venator Materials PLC · OTC:VNTRF

Venator Materials — Q2 2021 Earnings Presentation

15 slides from Venator Materials's earnings presentation, Aug 3, 2021

  1. Slide 1: Second Quarter 2021 Results Presentation

    Second Quarter 2021 Results Presentation August 3, 2021

  2. Slide 2: Safe Harbor Statement and Other Matters

    Safe Harbor Statement and Other Matters This presentation includes “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These forward-looking statements include statemen

  3. Slide 3: Second Quarter 2021 Highlights

    Second Quarter 2021 Highlights Financial summary $ in millions, except per share amounts 2Q21 2Q20 1Q21 Revenues 567 456 553 Net (loss) attributable to Venator (23) (19) (21) Adjusted net (loss) income attributable to Venator(1) - (3) 1 Adjusted EBITDA(1) 43 37 49 Diluted (loss) earnings per share (

  4. Slide 4: Titanium Dioxide

    Titanium Dioxide 2Q21 volumes declined due to production constraints Revenues Adjusted EBITDA $ in millions $ in millions 500 45 $40 450 $415 $414 40 $35 $36 400 $338 35 350 30 300 10% 25 10% 250 20 9% 200 150 15 100 10 50 5 0 0 2Q21 2Q20 1Q21 2Q21 2Q20 1Q21 Titanium Dioxide Adjusted EBITDA margin S

  5. Slide 5: Performance Additives

    Performance Additives(a) 2Q EBITDA improved $2mm compared to 2019, pre-pandemic Revenues(a) Adjusted EBITDA(a) $ in millions $ in millions $148 24 $22 23 $133 22 21 20 $18 $113 19 18 17 16 17% 15 $13 14 13 12 12% 12% 11 10 9 8 7 6 5 4 3 2 1 0 2Q21 2Q20 1Q21 2Q21 2Q20 1Q21 Performance Additives Adjus

  6. Slide 6: Driving Further Cost Reduction

    Driving Further Cost Reduction Savings on track 2020 BIP Highlights Timing (a) $ in millions ~$75  2020 Business Improvement Program on Non-recurring COVID-19 ~$65 track savings 2020 $57 Business Improvement  German restructuring project on track ~$55 Program and costs in line with expectations 20

  7. Slide 7: Adjusted EBITDA Bridges

    Adjusted EBITDA Bridges Second Quarter 2021 $ in millions Q/Q $- $(23) $17 $49 $- $43 $49 1Q21 Adjusted Price/Mix Volume COGS SGA / Other 2Q21 Adjusted EBITDA EBITDA Y/Y $30 $(55) $33 $(2) $43 $37 2Q20 Adjusted Price/Mix Volume COGS SGA / Other 2Q21 Adjusted EBITDA EBITDA 7 See Appendix for reconcil

  8. Slide 8: Free Cash Flow Considerations

    Free Cash Flow Considerations Delivered positive free cash flow $ in millions 2Q21 Comments Adjusted EBITDA $43  Total liquidity(b) of $421mm as of June 30, 2021 – $182mm of cash Capital expenditures(a) (15) – $239mm available under the ABL Cash interest (3)  No significant debt maturities until 2

  9. Slide 9: Focused on Maximizing Shareholder Value

    Focused on Maximizing Shareholder Value Maximize Shareholder Value Focus on Improve Customer- Enhance specialty & free cash Portfolio tailored competitive differentiated flow optimization approach position products generation  Increasing  Growth in higher  Driving  Reduce cash  Completed sale o

  10. Slide 10: Pro Forma Adj. EBITDA Reconciliation

    Pro Forma Adj. EBITDA Reconciliation $ in millions 2014 2015 2016 2017 2018 2019 2020 2Q21 2Q21 LTM Net (Loss) / Income $ (162) $ (352) $ (77) $ 144 $ (157) $ (170) $ (105) $ (22) $ (138) Net income attributable to noncontrolling interests (2) (7) (10) (10) (6) (5) (7) (1) (6) Net income of disconti

  11. Slide 11: Reconciliation of U.S. GAAP to Non-GAAP Measures

    Reconciliation of U.S. GAAP to Non-GAAP Measures See Appendix for reconciliations and important explanatory notes 11

  12. Slide 12: Reconciliation of U.S. GAAP to Non-GAAP Measures

    Reconciliation of U.S. GAAP to Non-GAAP Measures See Appendix for reconciliations and important explanatory notes 12

  13. Slide 13: Reconciliation of U.S. GAAP to Non-GAAP Measures

    Reconciliation of U.S. GAAP to Non-GAAP Measures See Appendix for reconciliations and important explanatory notes 13

  14. Slide 14: Reconciliation of U.S. GAAP to Non-GAAP Measures

    Reconciliation of U.S. GAAP to Non-GAAP Measures See Appendix for reconciliations and important explanatory notes 14

  15. Slide 15: Appendix

    Appendix (1) Our management uses adjusted EBITDA to assess financial performance. Adjusted EBITDA is defined as net income/loss before interest income/expense, net, income tax expense/benefit, depreciation and amortization, and net income attributable to noncontrolling interests, as well as eliminat

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