Tronox Holdings Plc · NYSE:TROX
Tronox — Q2 2018 Earnings Presentation
13 slides from Tronox's earnings presentation, Aug 2, 2018
Slide 1: Second Quarter 2018 Conference Call
Second Quarter 2018 Conference Call August 2, 2018 © 2018 Tronox Limited | All rights reserved | www.tronox.com
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
Slide 3: Cristal TiO2 Acquisition and Second Quarter 2018
Cristal TiO2 Acquisition and Second Quarter 2018 • U.S. District Court hearing on FTC request for PI scheduled for August 7, 2018 • European Commission – Received EC approval conditional upon 8120 paper laminate product grade divestiture – Definitive agreement for 8120 divestiture to Venator submitt
Slide 4: TiO2 Commercial Performance vs Second Quarter 2017
TiO2 Commercial Performance Second Quarter 2018 vs Second Quarter 2017 USD millions 2Q18 2Q17 Change Price and Volume Changes Price Volume TiO2 Revenue 492 421 17% Pigment (1%) Pigment 354 306 16% USD 17% Zircon 78 38 105% Local currency 15% Pig Iron 20 13 54% Zircon 47% 39% Feedstock & Other Produc
Slide 5: TiO2 Commercial Performance vs First Quarter 2018
TiO2 Commercial Performance Second Quarter 2018 vs First Quarter 2018 USD millions 2Q18 1Q18 Change Price and Volume Changes Price Volume TiO2 Revenue 492 442 11% Pigment 7% Pigment 354 333 6% USD 0% Zircon 78 61 28% Local currency 1% Pig Iron 20 19 5% Zircon 0% 27% Feedstock & Other Products 25 17
Slide 6: TiO2 Operations Performance
TiO2 Operations Performance Second Quarter 2018 vs PYQ and PQ USD millions 2Q18 2Q17 Change USD millions 2Q18 1Q18 Change Adjusted EBITDA 169 123 37% Adjusted EBITDA 169 138 22% Adjusted EBITDA margin 34% 29% Adjusted EBITDA margin 34% 31% • All mines and plants operating at full capacity; global Ti
Slide 7: Financial Position
Financial Position USD millions June 30, 2018 USD millions 2018 Outlook Cash interest, net ~170 Debt 3,169 Capital expenditures ~120 Debt net of cash/cash equivalents 1,477 (1) DD&A 180-200 Blended cost of debt 5.50% Cash taxes ~20 Cash and cash equivalents 1,692 (1) Note: all estimates on Tronox st
Slide 8: 2018 Perspectives
2018 Perspectives • Significant progress toward closing Cristal acquisition – Awaiting final approval from European Commission; upon EC’s approval of our definitive agreement with Venator, the EC’s approval of Cristal acquisition will be final – Binding MOU with Venator for negotiation of definitive
Slide 9: Q&A Session
Q&A Session www.tronox.com © 2018 Tronox Limited | All rights reserved | www.tronox.com 9
Slide 10: Appendix
Appendix © 2018 Tronox Limited | All rights reserved | www.tronox.com
Slide 11: Reconciliation of Non-U.S. GAAP Financial Measures
Reconciliation of Non‐U.S. GAAP Financial Measures TRONOX LIMITED RECONCILIATION OF NON-U.S. GAAP FINANCIAL MEASURES (UNAUDITED) (Millions of U.S. dollars, except share and per share data) RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO TRONOX LIMITED (U.S. GAAP) TO ADJUSTED NET INCOME (LOSS) FR
Slide 12: 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 LIMITED SEGMENT INFORMATION RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA (NON-U.S. GAAP) (UNAUDITED) (Millions of U.S. dollars) Three Months Ended June 30, Six Months Ended June 30, 2018 201
Slide 13: Operating Income and Adjusted EBITDA and Free Cash Flow (Non-U.S. GAAP)
Operating Income and Adjusted EBITDA (Non‐U.S. GAAP) and Free Cash Flow (Non‐U.S. GAAP) SEGMENT INFORMATION OPERATING INCOME AND ADJUSTED EBITDA (NON-U.S. GAAP) AND FREE CASH FLOW (NON-U.S. GAAP) (UNAUDITED) (Millions of U.S. dollars) The following table reconciles income from operations: Three Mont