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Tronox Reports Fourth Quarter and Full Year 2024 Financial Results
TROXTronox(TROX) Prnewswire·2025-02-12 21:15

Core Viewpoint - Tronox Holdings plc reported its fourth quarter financial results for 2024, showing a mixed performance with a slight decline in revenue but significant improvements in operational efficiency and cost management [1][4][6]. Financial Performance - Fourth quarter revenue was 676million,adecreaseof1676 million, a decrease of 1% year-over-year, primarily due to unfavorable average selling prices and product mix impacts on TiO2 and zircon [3][8]. - TiO2 revenue increased by 3% to 533 million, driven by a 4% increase in volumes, despite a 1% decline in average selling prices [9]. - Zircon revenue surged by 32% to 75million,supportedbya4375 million, supported by a 43% increase in volumes, although offset by an 11% decrease in average selling prices [10]. - The company reported a net loss of 30 million for the quarter, an improvement from a net loss of 56millioninthesameperiodlastyear[12][15].−AdjustedEBITDAforthequarterwas56 million in the same period last year [12][15]. - Adjusted EBITDA for the quarter was 129 million, reflecting a 37% increase year-over-year, with an adjusted EBITDA margin of 19.1% [13][18]. Operational Highlights - The company achieved 75millioninproductioncostimprovementscomparedtoQ42023,contributingtotheimprovedadjustedEBITDA[4][6].−Tronoxlaunchedacostimprovementplantargetingsustainablesavingsof75 million in production cost improvements compared to Q4 2023, contributing to the improved adjusted EBITDA [4][6]. - Tronox launched a cost improvement plan targeting sustainable savings of 125-175 million by the end of 2026, focusing on enhancing cost efficiency and optimizing asset performance [7][18]. Full Year Overview - For the full year 2024, Tronox reported total revenue of 3,074million,an83,074 million, an 8% increase year-over-year, with an adjusted EBITDA of 564 million, also up 8% from the previous year [15][18]. - The company returned 80milliontoshareholdersintheformofdividendsduringtheyear[17].Outlook−For2025,Tronoxexpectsrevenuetobeintherangeof80 million to shareholders in the form of dividends during the year [17]. Outlook - For 2025, Tronox expects revenue to be in the range of 3.0-3.4 billion, driven by improving TiO2 and zircon volumes, with adjusted EBITDA projected between 525−625million[6][18].−Capitalexpendituresfor2025areanticipatedtobebetween525-625 million [6][18]. - Capital expenditures for 2025 are anticipated to be between 375-395 million, with free cash flow expected to remain relatively flat [18].