Venator Materials PLC · OTC:VNTRF
Venator Materials — 2021 Citi Basic Materials and Industrials Conference
15 slides from Venator Materials's conference presentation, Nov 30, 2021
Slide 1: 2021 Citi Basic Materials and Industrials Conference
2021 Citi Basic Materials and Industrials Conference November 30, 2021
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
Slide 3: Venator Snapshot
Venator Snapshot(1) Leading global chemical company 3Q21 LTM(1) Revenue (mm) (1) $2,140 Adj. EBITDA (mm)(1) $165 % margin(1) 8% Titanium Dioxide Performance Additives(1) Segment 3Q21 LTM 3Q21 LTM(1) Revenue (mm) $1,607 Revenue (mm) $533 Adj. EBITDA (mm)(2) $155 Adj. EBITDA (mm)(2) $61 % margin(1) 10
Slide 4: Titanium Dioxide
Titanium Dioxide Favorable TiO2 fundamentals; early stages of an upcycle End Markets Quarterly Adjusted EBITDA History(1) 3Q21 LTM 2020 Revenues Source: Management Estimates $ in millions Ag. & 31%31%32% Water Other Fibres & films 1% 2% 29% Segment 18 23 Personal Care, Food, 6% Pharma. & Active Mate
Slide 5: A Market Leader in High-Value Specialty TiO2
A Market Leader in High-Value Specialty TiO2 Favorable application mix Venator has more than half of its sales volume in high value and technically demanding TiO2 categories Venator Focus Specialties Price Differentiated Functional Legend: Low Quality % Total global TiO2 industry demand 18% 41% 32%
Slide 6: Performance Additives
Performance Additives(1) Demand remains healthy End Markets(1) Quarterly Adjusted EBITDA History(1)(2) 3Q21 LTM(1) 2020 Revenues Source: Management Estimates $ in millions Fibres & films Other 3% 2% Architectural 17% 17% Personal Care, Food, coatings 15% Pharmaceuticals & 14% 14% Segment Active Mate
Slide 7: Performance Additives: Product overview
Performance Additives(1) Product overview Average EBITDA(1)(2)(3) % split Product Characteristics & Uses Competition Benefit Functional Barium and Zinc Additives Fillers that enhance the gloss and Strong EBITDA margins flow of paints and the mechanical Additives Complementary and common proper
Slide 8: Driving Further Cost Reduction
Driving Further Cost Reduction Savings continue on track $ in millions 2020 BIP Highlights Timing (a) $ in millions ~$75 2020 Business Improvement Program Non-recurring has delivered >$40 million of benefits to ~$65 COVID-19 savings date compared to 2019 baseline 2020 $57 Business Improvement ~$55
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
Slide 10: Appendix
VENATOR Appendix
Slide 11: Pro Forma Adj. EBITDA Reconciliation
Pro Forma Adj. EBITDA Reconciliation $ in millions 2014 2015 2016 2017 2018 2019 2020 3Q21 3Q21 LTM Net (Loss) / Income $ (162) $ (352) $ (77) $ 144 $ (157) $ (170) $ (105) $ (47) $ (146) Net income attributable to noncontrolling interests (2) (7) (10) (10) (6) (5) (7) – (3) Net income of discontinu
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
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
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
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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