Venator Materials PLC · OTC:VNTRF
Venator Materials — FY2022 Earnings Presentation
15 slides from Venator Materials's earnings presentation, Feb 21, 2023
Slide 1: Fourth Quarter and Full Year 2022 Results Presentation
Fourth Quarter and Full Year 2022 Results Presentation February 21, 2023
Slide 2: Safe Harbor Statement and Other Matters
Safe Harbor Statement and Other Matters Certain statements contained in this presentation constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward- looking statements represent Venator’s expectations or beliefs concerning
Slide 3: Fourth Quarter and Full Year 2022 Highlights
Fourth Quarter and Full Year 2022 Highlights Financial summary Quarter Full Year $ in millions, except per share amounts 4Q22 4Q21 3Q22 2022 2021 Revenues 366 535 506 2,173 2,212 Net (loss) income attributable to Venator (228) 14 (50) (188) (77) Adjusted net (loss) attributable to Venator(1) (22) (5
Slide 4: Titanium Dioxide
Titanium Dioxide EBITDA decrease driven by challenging macro-economic conditions Revenues Adjusted EBITDA $ in millions $ in millions 450 $406 40 $35 400 35 $361 30 350 25 300 20 $240 250 15 9% 200 10 5 $(50) $(5) 150 0 100 -5 50 -10 4Q22 4Q21 3Q22 0 NM NM 4Q22 4Q21 3Q22 Titanium Dioxide Adjusted EB
Slide 5: Performance Additives
Performance Additives More resilient to the macro-environment Revenues Adjusted EBITDA $ in millions $ in millions $145 20 $19 18% $129 19 $126 18 16% 17 16 14% 15 15% 14 12% 13 12 11 10% 10 $9 9 8% 8 7 $5 6% 6 5 6% 4% 4 3 4% 2 2% 1 0 0% 4Q22 4Q21 3Q22 4Q22 4Q21 3Q22 Performance Additives Adjusted E
Slide 6: Initiated a $50 million Cost Reduction Program
Initiated a $50 million Cost Reduction Program Taking strong actions to reduce our cost structure $ in millions Cost Reduction Program Cost Reduction (1) $50mm Reduction in SG&A costs to align structure to the operational business Reduction in manufacturing fixed costs Manufacturing improvemen
Slide 7: Adjusted EBITDA Bridges
Adjusted EBITDA Bridges Fourth Quarter 2022 $ in millions Q/Q Y/Y 7 See Appendix for reconciliations and important explanatory notes
Slide 8: Strategic Operational and Capital Structure Review
Strategic Operational and Capital Structure Review Near Term Priorities Operational Cost Reduction Liquidity Optimization Underpinned by Long Term Focus Focus on Customer- Enhance Improve Environmental specialty & tailored competitive free cash flow Social differentiated approach position generation
Slide 9: Appendix
VENATOF Appendix
Slide 10: Pro Forma Adj. EBITDA Reconciliation
Pro Forma Adj. EBITDA Reconciliation $ in millions 2017 2018 2019 2020 2021 1Q22 2Q22 3Q22 4Q22 2022 Net (Loss) / Income $ 144 $ (157) $ (170) $ (105) $ (74) $ (2) $ 95 $ (48) $ (226) $ (181) Net income attributable to noncontrolling interests (10) (6) (5) (7) (3) (1) (2) (2) (2) (7) Net income of d
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
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: Footnotes
Footnotes (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 elimina