Venator Business Overview and Cost Savings Initiatives
2 Unprecedented Energy and Cost Dynamics
in Europe
Mild winter and government subsidies have helped moderate energy costs
Electricity (€/MWh)
Peak European electricity increase:
Gas (€/MWh)
Peak European gas increase:
200
• 3Q22 vs 3Q21 > 4x
400
• 3Q22 vs 3Q21 > 3x
3Q22 vs 3Q20 > 25x
350
• 3Q22 vs 3Q20 > 10x
150
300
250
100
200
150
50
100
50
VENATOR
Energy
Other
Venator Direct Costs (1)
Feedstock
1.1
1.5
0.4
-0
2018
2019
2020
2021
2022
US
EU
China
2018
2019
2020 2021
2022
1.0
1.0
1.0
0.2
⚫US
➡EU
SIC
0.1
0.2
0.5
0.2
TiO2 feedstock cost ($/t)(²)
North American Chloride
European Sulphate
1,500
European sulfate increase:
1,300
3Q22 vs 3Q21 > 1.17x
3Q22 vs 3Q20 > 1.24x
1,100
900
700
Chinese Sulphate
0.4
0.3
0.3
0.4
0.7
0.5
0.5
0.6
0.4
2018
2019
2020
2021
2022
500
2018
2019
2020
2021
2022
(1)
Rebased to TZMI 2021 Venator manufacturing cost estimate on a $/t basis (TZMI, 2022, Comparative Cost & Profitability Study)
(2) Blended TiO2 feedstock cost based on TZMI price forecast by feedstock type (TZMI, Issue 4 2022, Titanium Feedstock Price Forecast)View entire presentation