Prezados Cristaleiros
Vejam só que maravilha de resultados reportados pela mamãe-TROX
https://finance.yahoo.com/news/edited-transcript-trox-earnings-conference-234244424.html
Edited Transcript of TROX earnings conference call or presentation 9-Aug-17 12:30pm GMT
Thank you, Brandon, and welcome, everyone. As you saw in our pre-release last week, our second quarter performance was strong, with revenue up 16% over the prior year. Adjusted EBITDA of $140 million, adjusted earnings per share of $0.09 and free cash flow of $53 million. As this is my first earnings release, I plan to take full resp...
Prezados Cristaleiros
Vejam só que maravilha de resultados reportados pela mamãe-TROX
https://finance.yahoo.com/news/edited-transcript-trox-earnings-conference-234244424.html
Edited Transcript of TROX earnings conference call or presentation 9-Aug-17 12:30pm GMT
Thank you, Brandon, and welcome, everyone. As you saw in our pre-release last week, our second quarter performance was strong, with revenue up 16% over the prior year. Adjusted EBITDA of $140 million, adjusted earnings per share of $0.09 and free cash flow of $53 million. As this is my first earnings release, I plan to take full responsibility for all the success and blame any failures on the past. But on the more serious note, I'd also like to reflect that the results from a great team effort and a talented bunch of employees. Our TiO2 business delivered very strong results, with revenue growth up 26%, adjusted EBITDA of $123 million and free cash flow of $67 million. TiO2 achieved an adjusted EBITDA margin of 29%, reflecting the benefits of our vertical integration with all our assets in full operation and the result of the extraordinary work by the global TiO2 team to reduce costs through the successful implementation of their operational excellence program. Alkali Chemicals also had a very good quarter, delivering adjusted EBITDA of $41 million and free cash flow of $31 million. Our cash generation performance further strengthened our balance sheet. We closed the quarter with $303 million of cash on hand and liquidity of $484 million.
We are making significant progress on our strategic developments. As we announced last week, we signed a definitive agreement to sell Alkali Chemicals for $1.325 billion in cash. We anticipate closing that transaction in the second half of the year prior to our planned closing of the Cristal TiO2 acquisition. We also announced our intention to refinance a portion of our capital structure. We expect the refinancing will lower our overall cost of debt, extend the portfolio's weighted average years to maturity, improve our mix of secured and unsecured debt, achieve more favorable covenants and provide additional pay down flexibility.
As we communicated to you when we announced the Cristal transaction last February, we expect net leverage of approximately 4.5x trailing 12 months pro forma EBITDA before synergies at closing of the transaction, which is expected to occur by the first quarter of 2018.
Post closing, we intend to continue to reduce net leverage using the substantial free cash flow that is expected, and further enhanced by the EBITDA growth generated from the substantial synergies inherent in our combination. The last few quarters are very exciting ones for Tronox. We are confident that 2017 will continue to be a year of strong performance, and more importantly, that 2018 will be a transformational one for Tronox.
Moving to Slide 4, the review of the Tioxide second quarter performance. TiO2 segment revenue of $421 million was 26% higher than the year ago quarter, driven by higher pigment selling prices and sales volumes, coupled with higher selling prices for all titanium feedstock and co-products.
Pigment sales of $306 million increased 25% compared to the year-ago quarter. Sales volumes increased 6% and average selling prices increased 18%. Pigment selling prices were higher in all regions. Titanium feedstock and co-products sales of $99 million increased 36% compared to a year-ago quarter, driven by higher selling prices for all products as well as higher feedstock shipments. Titanium slag selling prices increased 4% and sales volumes increased 144%. Ilmenite selling prices increased 20% and sales volumes were up 201%.
Importante informação acima...TROX, vendendo os negócios de Alcalis pr $1.325 Billion com isto está garantido o CASH para pagar a compra da Cristal TiO2.
Regarding the strategic developments underway, here's a summary of the expected timeline for achieving the key milestones in this work. We anticipated -- we anticipate: one, completing the [fund] refinancing by mid-October; two, holding the shareholder vote on the Cristal acquisition, also by mid-October; three, closing the sale of Alkali in the second half of this year; and four, closing on the Cristal acquisition by the end of the first quarter 2018.
Agora é só esperar os bons resultados aqui no Brasil e aguardar o desenrolar do processo de aquisição e possível OPA ao preço de Diamante que a Cristal vale.
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