Venator Business Overview and Cost Savings Initiatives
Germany - Operational Restructuring
VENATOR
Mini Duisburg to result in c.$41m annual operating cash flow (1) by 2027E
Illustrative 2023-27E Cumulative Financial Impact ($m)
Status
Quo
Adj.
Mini
Duisburg
-
TiO2 Duisburg EBITDA
(93)
FAD Duisburg EBITDA
114
Uerdingen EBITDA
23
Total EBITDA
43
52
282
22
(71)
(38)
75
68
91
1 Status Quo:
Continue operating Duisburg FAD
and loss-making TiO2 business
Continue operating Uerdingen
TiO2 business
2 Mini Duisburg:
Retain existing Uerdingen TiO2
EBITDA
Strengthen Uerdingen with
95
transfer of Duisburg specialty
Capex
(141)
31
(111)
Total Restructuring Costs
(100)
(100)
Net Working Capital Impact
(61)
52
(9)
at Duisburg
Total Cash Flow
(159)
35
(125)
2027E EBITDA - Capex
22
18
41
TiO2 EBITDA
Retain FAD business at Duisburg
FAD business to absorb
burden of stranded fixed costs
2027E EBITDA - capex from
remaining Duisburg & Uerdingen
business of $41m, ~$20m
higher than Status Quo
More economic value creation
with significantly higher NPV and
IRR
38 (1)
EBITDA CapexView entire presentation