Tronox Holdings plc
Tronox's acquisition of TTI improves Tronox's financial profile, with a
minimal increase in current leverage
(1)
(2)
(3)
Improved financial profile
Very modestly increases PF net
debt / LTM EBITDA (²)
Tronox maintains robust current
liquidity
22.6%
2019 EBITDA margin (pre-transaction)
3.9x
-150bps of margin improvement
Net Debt / LTM EBITDA (pre-transaction)
Margin reflects 3rd party sales plus midpoint of the synergy range for illustrative purposes.
Represents Tronox 3/31/20 Adj. LTM EBITDA and 2019A Adj. EBITDA for TTI. Assumes $17.5m of run-rate synergies for PF net leverage calculation.
$770 million is pro forma for April 2020 Senior Notes Issuance and -$300m cash consideration for TTI acquisition.
TRONOX
Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2020
24.1%
(1)
PF 2019 EBITDA margin (post-transaction)
4.1x
Strong pro forma liquidity position of $770(3) million, consisting of existing cash
balance and availability under revolving credit agreements
PF Net Debt/LTM EBITDA (post-transaction)
6View entire presentation