Chemours Company (the) · NYSE:CC
Chemours Company (the) — The Chemours Company — Q2 2017 Earnings Presentation
16 slides from Chemours Company (the)'s earnings presentation, Aug 3, 2017
Slide 1: The Chemours Company Second Quarter Earnings Presentation
The Chemours Company Second Quarter Earnings Presentation August 3, 2017
Slide 2: Safe Harbor Statement and Other Matters
Safe Harbor Statement and Other Matters This presentation contains forward-looking statements, within the meaning of the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Forward-looking statements provide current expectations o
Slide 3: Second Quarter 2017 Highlights
Second Quarter 2017 Highlights Significant year-over-year improvements across all key financial metrics Double-digit TiO2 sales improvement driven by price actions & increased demand Strong demand for Opteon™ refrigerants and entire fluoropolymers portfolio Increased FY2017 outlook based on anticipa
Slide 4: 2Q17 Overview: Second Quarter Financial Summary
2Q17 Overview ($ in millions, except for share amounts, unless otherwise noted) Second Quarter Financial Summary ∆ Year-Over-Year 2Q17 2Q16 Yr/Yr Results primarily driven by increased sales of Ti-Pure™ Net Sales $1,588 $1,383 $205 titanium dioxide and Opteon™ Net Income (loss)1 161 (18) 179 refrig
Slide 5: Adjusted EBITDA Bridge: 2Q17 versus 2Q16
Adjusted EBITDA Bridge: 2Q17 versus 2Q16 Positive Impact ($ in millions) Negative Impact • Ti-Pure™ price up 14% • Higher base ($33) refrigerant pricing offset by lower fluoropolymers pricing $110 • Negative impact from portfolio - changes • Higher $103 transformation- • Strong Opteon™ related and v
Slide 6: Liquidity Position
Liquidity Position ($ in millions) Negative Impact Positive Impact Free Cash Flow of $114M versus $11M in 2Q161 $523 Working capital build reflects volume, price, and seasonality $30 impacts ($83) $75 Successfully completed $500M ($69) $1,529 bond issuance in 2Q17 $161 ($6) Total Liquidity o
Slide 7: Titanium Technologies Business Summary
Titanium Technologies Business Summary Second Quarter Highlights Outlook Commentary Strong volumes as a result of customer Full-year volume growth expected to be high preference for high-quality Ti-Pure™ titanium single-digits dioxide across all regions and applications Working with customers
Slide 8: Fluoroproducts Business Summary
Fluoroproducts Business Summary Second Quarter Highlights Outlook Commentary Opteon™ refrigerant revenue doubled versus Demand for Opteon™ refrigerants expected to previous year remain a strong source of growth driven by regulations and economic incentives Higher base refrigerant prices as a r
Slide 9: Chemical Solutions Business Summary
Chemical Solutions Business Summary Second Quarter Highlights Outlook Commentary Continued impact on sales and Adjusted Expected volume growth in mining solutions EBITDA from 2016 divestitures and site closure driven by North American gold production demand with some near-term price pressure S
Slide 10: 2017 Outlook
2017 Outlook 2017 Adjusted EBITDA Expected To Be Between $1.3 - $1.4 Billion With Approximately Breakeven Free Cash Flow, Including Payment Of PFOA MDL Settlement Key Factors Influencing Market Performance Market Factors Chemours Initiatives • TiO2 price • Cost reductions • Currency • Altamira expan
Slide 11: Appendix
Appendix
Slide 12: GAAP Net Income (Loss) to Adjusted Net Income and Adjusted EBITDA Reconciliations
GAAP Net Income (Loss) to Adjusted Net Income and Adjusted EBITDA Reconciliations GAAP Net Income (Loss) to Adjusted Net Income and Adjusted EBITDA Tabular Reconciliations ($ in millions except per share amounts) Three months ended Three months ended June 30, March 31, 2017 2016 2017 $ amounts $ per
Slide 13: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation GAAP Cash Flow to Free Cash Flow Tabular Reconciliations ($ in millions unless otherwise noted) Three months ended Six months ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Cash flows provided by operating activities 1 $ 183 $ 90 $ 41 $ 224 $ 126 Cash flows
Slide 14: Segment Net Sales and Adjusted EBITDA (unaudited)
Segment Net Sales and Adjusted EBITDA (unaudited) SEGMENT NET SALES AND ADJUSTED EBITDA (UNAUDITED) ($ in millions unless otherwise noted) Three months ended Three months ended June 30, March 31, 2017 2016 2017 SEGMENT NET SALES Titanium Technologies $ 729 $ 596 $ 646 Fluoroproducts 710 573 652 Chem
Slide 15: Reconciliation of Outlook
Reconciliation of Outlook 2017 Estimated GAAP Net Income to Estimated Adjusted EBITDA Tabular Reconciliation (UNAUDITED) ($ in millions unless otherwise noted) Estimated Net Income 1 $605 - 680 Provision for income taxes 1 2 195 - 220 Interest expense, net ~ 220 Depreciation and amortization ~ 280 O
Slide 16: ©2017 The Chemours Company. Chemours™ and the Chemours Logo are trademarks or registered trademarks
©2017 The Chemours Company. Chemours™ and the Chemours Logo are trademarks or registered trademarks of The Chemours Company 15