Venator Materials Plc · OTC:VNTRF
Venator Materials — Q1 2022 Earnings Presentation
14 slides from Venator Materials's earnings presentation, May 4, 2022
Slide 1: First Quarter 2022 Results Presentation
First Quarter 2022 Results Presentation May 4, 2022
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: First Quarter 2022 Highlights
First Quarter 2022 Highlights Financial summary $ in millions, except per share amounts 1Q22 1Q21 4Q21 Revenues 659 553 535 Net (loss) income attributable to Venator (3) (21) 14 Adjusted net income (loss) attributable to Venator(1) 6 1 (5) Adjusted EBITDA(1) 57 49 40 Diluted (loss) earnings per shar
Slide 4: Titanium Dioxide
Titanium Dioxide Selling price improvement mitigates cost pressures Revenues Adjusted EBITDA $ in millions $ in millions $510 55 $49 500 50 $414 $406 45 $40 400 40 $35 35 300 30 10% 10% 25 9% 200 20 15 100 10 5 0 0 1Q22 1Q21 4Q21 1Q22 1Q21 4Q21 Titanium Dioxide Adjusted EBITDA margin First Quarter H
Slide 5: Performance Additives
Performance Additives(a) Robust seasonal demand across all businesses Revenues(a) Adjusted EBITDA(a) $ in millions $ in millions $149 23 $133 $129 $22 22 21 $20 20 $19 19 17% 13% 15% 18 17 1Q22 1Q21 4Q21 1Q22 1Q21 4Q21 Performance Additives Adjusted EBITDA margin First Quarter Highlights Outlook A
Slide 6: Adjusted EBITDA Bridges
Adjusted EBITDA Bridges First Quarter 2022 $ in millions Q/Q $25 $(56) $51 $(3) $57 $40 $(2) $40 4Q21 Adjusted Price/Mix Volume COGS SGA / Other 1Q22F Adjusted EBITDA EBITDA Y/Y $120 $(6) $(102) $(4) $57 $49 $(3) 1Q21 Adjusted Price/Mix Volume COGS SGA / Other 1Q22 Adjusted EBITDA EBITDA 6 See Appen
Slide 7: Cash Flow Considerations
Cash Flow Considerations Ample 1Q liquidity enhanced by $85 million legal settlement in April $ in millions Free Cash Flow 1Q22 Cash provided by operating activities $(86) Capital expenditures (17) Total free cash flow $(103) Liquidity and Debt Other Cash Flow Considerations Total liquidity(a) of
Slide 8: Focused on Maximizing Shareholder Value
Focused on Maximizing Shareholder Value Maximize Shareholder Value Focus on Customer- Enhance Improve Environmental specialty & tailored competitive free cash flow Social differentiated approach position generation Governance products Increasing Growth in higher Driving Reducing cash Stren
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 1Q22 LTM Net (Loss) / Income $ 144 $ (157) $ (170) $ (105) $ (74) $ (2) $ (56) Net income attributable to noncontrolling interests (10) (6) (5) (7) (3) (1) (3) Net income of discontinued operations (8) – – – – – – Inter
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: 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