Increases the bottom-end of the range for
its 2022 financial outlook and introduces 2025 financial
goals
STAMFORD, Conn., June 16,
2022 /PRNewswire/ -- Tronox Holdings plc (NYSE:
TROX), the world's leading integrated manufacturer of titanium
dioxide pigment, will host its 2022 Investor Day event today
in-person at the New York Stock Exchange and virtually. The onsite
event is at capacity and only pre-registered attendees will be
allowed entry. A live webcast is available to the public at
https://tronox-holdings-virtual-investor-day.open-exchange.net. The
presentation will begin promptly at 8:30
a.m. ET and is expected to conclude by 12:00 p.m. ET. As part of the event, members of
the senior leadership team will discuss the Company's market
opportunities, competitive advantages, operations, ESG achievements
and goals and long-term strategy, as well as provide an update with
respect to certain financial information and host question and
answer sessions.
"We are excited to provide an update on the transformational
progress that Tronox has made since our last Investor Day in 2019,"
said John D. Romano, co-chief
executive officer. "Our margin stability program and high degree of
vertical integration have proven to be significant competitive
advantages, particularly in the current market environment."
Jean-François Turgeon, co-chief executive officer, added, "Our
clearly differentiated strategy enables us to maintain our status
as a world-class operator, which is demonstrated by our successful
execution track record and our commitment to safety, sustainability
and operational excellence. Our history of robust financial
performance, including delivering over 20 consecutive quarters with
an adjusted EBITDA margin of greater than 20%, has allowed us to
set ambitious financial milestone goals for 2025, which we will
elaborate on today."
In connection with the event, Tronox increased the bottom-end of
the range for its full-year 2022 financial outlook as follows:
- Adjusted EBITDA of $1.075 billion
to $1.125 billion
- Adjusted EPS of $3.15 to
$3.59
- Free cash flow greater than or equal to $300 million
Additionally, Tronox provided new full-year
2025 financial milestone goals as follows:
- Adjusted EBITDA of $1.3 billion
to $1.5 billion, with margins of 30%
or greater
- Free cash flow of $750 million to
$850 million or more
- Gross debt of less than $2
billion by year end 2025 and a net leverage ratio of 1.0x to
1.5x
The presentation used during the event will be made available at
http://investor.tronox.com at the beginning of the
webcast.
Webcast Replay: Available for 90 days following the live
event, via https://investor.tronox.com.
About Tronox
Tronox Holdings plc is one of the world's leading producers of
high-quality titanium products, including titanium dioxide pigment,
specialty-grade titanium dioxide products and high-purity titanium
chemicals; and zircon. We mine titanium-bearing mineral sands and
operate upgrading facilities that produce high-grade titanium
feedstock materials, pig iron and other minerals. With
approximately 6,500 employees across six continents, our rich
diversity, unmatched vertical integration model, and unparalleled
operational and technical expertise across the value chain,
position Tronox as the preeminent titanium dioxide producer in the
world. For more information about how our products add brightness
and durability to paints, plastics, paper and other everyday
products, visit tronox.com.
Cautionary Statement about Forward-Looking Statements
Statements in this this release that are not historical are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which are subject to known and unknown risks,
uncertainties and assumptions about us, may include projections of
our future financial performance including anticipated synergies
based on our growth and other strategies, anticipated completion of
extensions and upgrades to our mining and operations, anticipated
trends in our business, anticipated costs and benefits of project
newTRON and Atlas Campaspe and the Company's anticipated capital
allocation strategy. These statements are only predictions based on
our current expectations and projections about future events. There
are important factors that could cause our actual results, level of
activity, performance, actual synergies, or achievements to differ
materially from the results, level of activity, performance,
anticipated synergies or achievements expressed or implied by the
forward-looking statements. Significant risks and uncertainties may
relate to, but are not limited to, macroeconomic conditions;
inflationary pressures; political instability, including the
ongoing Russia and Ukraine conflict and any expansion of such
conflict; supply chain disruptions; market conditions and price
volatility for titanium dioxide, zircon and other feedstock
materials, as well as global and regional economic downturns, that
adversely affect the demand for our end-use products; disruptions
in production at our mining and manufacturing facilities; and other
financial, economic, competitive, environmental, political, legal
and regulatory factors. These and other risk factors are discussed
in the Company's filings with the Securities and Exchange
Commission.
Moreover, we operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible for our management to predict all risks and
uncertainties, nor can management assess the impact of all factors
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements. Although we
believe the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
level of activity, performance or achievements. Neither we nor any
other person assumes responsibility for the accuracy or
completeness of any of these forward-looking statements. You should
not rely upon forward-looking statements as predictions of future
events. Unless otherwise required by applicable laws, we undertake
no obligation to update or revise any forward-looking statements,
whether because of new information or future developments.
Use of Non-GAAP Information
To provide investors and others with additional information
regarding the financial results of Tronox Holdings plc, we have
disclosed in this release certain non-U.S. GAAP operating
performance measures of EBITDA, Adjusted EBITDA, Adjusted EBITDA
margin and Adjusted net income attributable to Tronox on a per
share basis, and a non-U.S. GAAP liquidity measure of Free Cash
Flow. These non-U.S. GAAP financial measures are a supplement to
and not a substitute for or superior to, the Company's results
presented in accordance with U.S. GAAP. The non-U.S. GAAP financial
measures presented by the Company may be different from non-U.S.
GAAP financial measures presented by other companies. Specifically,
the Company believes the non-U.S. GAAP information provides useful
measures to investors regarding the Company's financial performance
by excluding certain costs and expenses that the Company believes
are not indicative of its core operating results. The release of
these non-U.S. GAAP financial measures is not meant to be
considered in isolation or as a substitute for results or guidance
prepared and presented in accordance with U.S. GAAP. For the
Company's guidance with respect to full-year 2022 and 2025 non-U.S.
GAAP financial measures, the Company is not able to provide without
unreasonable effort the most directly comparable GAAP financial
measure, or reconciliation to such GAAP financial measure, because
certain items that impact such measures are uncertain, out of the
Company's control or cannot be reasonably predicted.
Media Contact: Melissa Zona
+1.636.751.4057
Investor Contact: Jennifer
Guenther +1.646.960.6598
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SOURCE Tronox Holdings plc