15 February 2017
DETAILS
Full Year 2016 Highlights
Net Sales of $5.4 billion
Net Income of $7 million,
or $0.04 per diluted share,
including pre-tax items such as:
gain on asset sales of $254 million,
PFOA settlement charge of $335 million,
impairment charges of $119 million
and restructuring costs of $51 million
Adjusted EBITDA of $822 million
Adjusted Net Income of $187 million,
or $1.02 per diluted share,
including ~$50 million tax valuation allowance
Mark Vergnano
“2016 was about transformation;
our five-point transformation plan delivered
results on all fronts
– cost reductions, portfolio rationalization,
growth opportunities,
focused capital investments and cultural change.
We achieved our $200 million cost reduction target,
and generated substantial proceeds from asset sales.
At the same time, we optimized
our TiO2 manufacturing capabilities and capitalized on
the Opteon™ refrigerant growth opportunity.
In addition, the recent agreement with DuPont
mitigates the uncertainty around potential outcomes
of the PFOA multi-district litigation.
Between our strong business performance
and the recent PFOA settlement, we significantly
improved our earnings and liquidity profile,
and strengthened the company
by reducing debt and
addressing a key contingent liability –
all good results for our shareholders.”
CONTACT CHEMOURS
MEDIA
Alvenia Scarborough Director,
Brand Marketing and Corporate Communications
+1.302.773.4507
media@chemours.com
INVESTORS
Alisha Bellezza
Treasurer and Director of Investor Relations
+1.302.773.2263
investor@chemours.com
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