Venator Materials PLC · OTC:VNTRF
Venator Materials — Corporate Update (September 2018)
8 slides from Venator Materials's corporate update, Sep 12, 2018
Slide 1: Pori Strategic Review Update
Pori Strategic Review Update September 12, 2018
Slide 2: General Disclosure
General Disclosure 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 statements concerning our pla
Slide 3: Close Pori and Transfer Technology
Close Pori and Transfer Technology Transfer core specialty and differentiated capacity to other sites Estimated cost of the full reconstruction of Pori is not economically viable for Venator due to unanticipated cost escalation and an extended timeline Venator intends to close the Pori, Finland
Slide 4: Closure Costs and Adjusted EBITDA of Pori
Closure Costs and Adjusted EBITDA of Pori Pori contribution underscores performance of specialty franchise Pori Costs Adjusted EBITDA $ in millions $ in millions $157 $157 Estimated Costs $134 $18 $23 $20 $118 Pori capex and project wind-down costs ~$130(1) $94 $33 $15 Capex to strengthen existing n
Slide 5: Summary
Summary Redistribution of Pori capacity provides best economic return Reduce total overall capex spend associated with the full reconstruction of Pori Close Pori Approximately two-thirds of closure costs expected to be incurred beyond 2020 Restore Core Specialty and Preserves Venator’s core sp
Slide 6: Appendix
VENATOF Appendix
Slide 7: Quarterly Adjusted EBITDA Reconciliation
Quarterly Adjusted EBITDA Reconciliation 1Q17 to 2Q18 $ in millions 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 Net Income (Loss) $ (13) $ 34 $ 53 $ 70 $ 80 $ 198 Net income attributable to noncontrolling interests (3) (3) (2) (2) (2) (2) Net income of discontinued operations (8) – – – - - Interest expense 12 9 8
Slide 8: Explanatory Notes
Explanatory Notes (1) Our management uses adjusted EBITDA to assess financial performance. Adjusted EBITDA is defined as net income (loss) before interest expense, income tax (benefit) from continuing operations, depreciation and amortization, and net income attributable to non-controlling interests
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