Tronox Holdings Plc · NYSE:TROX

Tronox — Q1 2019 Earnings Presentation

15 slides from Tronox's earnings presentation, May 10, 2019

  1. Slide 1: First Quarter 2019 Conference Call

    First Quarter 2019 Conference Call May 10, 2019 1 © 2019 Tronox Holdings plc | All rights reserved. | tronox.com

  2. Slide 2: Safe Harbor Statement and Non-U.S. GAAP Financial Terms

    Safe Harbor Statement and Non-U.S. GAAP Financial Terms Statements in this presentation that are not historical are forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are su

  3. Slide 3: Strategic Developments, Improving Markets

    Strategic Developments, Improving Markets • Transformational acquisition of Cristal TiO2 creates • Advantaged and differentiated position benefiting world’s largest vertically integrated TiO2 producer from zircon production and feedstock integration; with participation at every level of the value ch

  4. Slide 4: Commercial Performance 1Q19 vs 1Q18

    Commercial Performance 1Q19 vs 1Q18 USD millions 1Q19 1Q18 Change Price and Volume Changes Price Volume Revenue 390 442 (12%) Pigment (10%) Revenue ex-Electrolytic 390 430 (9%) Local Currency (2%) Pigment 286 333 (14%) USD (5%) Zircon 64 61 5% Zircon 17% (10%) Pig Iron 19 19 --- Pig Iron 2% (2%) Fee

  5. Slide 5: Commercial Performance 1Q19 vs 4Q18

    Commercial Performance 1Q19 vs 4Q18 USD millions 1Q19 4Q18 Change Price and Volume Changes Price Volume Revenue 390 429 (9%) Pigment 10% Local Currency (1%) Pigment 286 263 9% USD (2%) Zircon 64 82 (22%) Zircon 3% (24%) Pig Iron 19 25 (24%) Pig Iron -- (24%) Feedstock & Other Products 21 59 (64%) CP

  6. Slide 6: Balanced Regional TiO2 Pigment Revenue Mix – 2018 Pro Forma

    Balanced Regional TiO2 Pigment Revenue Mix – 2018 Pro Forma New Tronox $2,537 Million Middle East & Africa, 11% • Well positioned to grow with our customers as North America, 21% they grow anywhere in the world • Global scale affords greater opportunities for customer collaboration on new product de

  7. Slide 7: Unmatched Global Footprint

    Unmatched Global Footprint Botlek the Netherlands Yanbu KSA Fuzhou Capacity: 90 kMT Capacity: 200 kMT China NYC and Stamford Capacity: 46 kMT USA Corporate Offices Stallingborough UK Capacity: 165 kMT Oklahoma City USA Administration & Technical Center Thann Snapper France Australia Hamilton Capacit

  8. Slide 8: Adjusted EBITDA 1Q19 vs 1Q18

    Adjusted EBITDA 1Q19 vs 1Q18 USD millions 1Q19 1Q18 Change Adjusted EBITDA 80 117 (32%) Adjusted EBITDA margin 21% 26% (5 ppts) • Higher selling prices, particularly for zircon • Favorable foreign exchange on costs • Lower pigment and zircon sales volumes • Unfavorable overhead absorption related to

  9. Slide 9: Adjusted EBITDA 1Q19 v 4Q18

    Adjusted EBITDA 1Q19 v 4Q18 USD millions 1Q19 4Q18 Change Adjusted EBITDA 80 120 (33%) Adjusted EBITDA margin 21% 28% (7 ppts) • Lower sales volumes for feedstock and zircon due to shipment timing • Unfavorable foreign exchange on costs • Higher pigment costs related to planned maintenance undertake

  10. Slide 10: Forward Together as One New Tronox

    Forward Together as One New Tronox • Our mission is to be the TiO2 equity • Our vertical integration strategy is offering of choice that displays greater centered around the five pillars: stability in financial performance and cash  A competitive pigment cost position generation across cycles by ut

  11. Slide 11: Q&A session

    Q&A session TRONOX )

  12. Slide 12: Appendix

    Appendix © 2019 Tronox Holdings plc | All rights reserved. | tronox.com 12

  13. Slide 13: Reconciliation of Non‐U.S. GAAP Financial Measures

    Reconciliation of Non‐U.S. GAAP Financial Measures TRONOX HOLDINGS PLC RECONCILIATION OF NON-U.S. GAAP FINANCIAL MEASURES (UNAUDITED) (Millions of U.S. dollars, except share and per share data) RECONCILIATION OF NET LOSS ATTRIBUTABLE TO TRONOX HOLDINGS PLC (U.S. GAAP) TO ADJUSTED NET INCOME (LOSS) F

  14. Slide 14: Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA (non‐U.S. GAAP)

    Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA (non‐U.S. GAAP) TRONOX HOLDINGS PLC RECONCILIATION OF NET LOSS TO EBITDA AND ADJUSTED EBITDA (NON-U.S. GAAP) (UNAUDITED) (Millions of U.S. dollars) Three Months Ended March 31, 2019 2018 Net loss (U.S. GAAP) $ (30) $ (41) Interest exp

  15. Slide 15: Segment Information: Revenue, Operating Income and Adjusted EBITDA and Free Cash Flow

    Segment Information: Revenue, Operating Income and Adjusted EBITDA (Non‐U.S. GAAP) and Free Cash Flow (Non‐U.S. GAAP) TRONOX HOLDINGS PLC SEGMENT INFORMATION REVENUE, OPERATING INCOME AND FREE CASH FLOW (NON-U.S. GAAP) (UNAUDITED) (Millions of U.S. dollars) The following table reconciles net sales a

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