And I Have Been Consumed by meus venator

Looking at the numbers, the company was unable to pass on cost increases to its customers, with the cost of goods sold rising by $67 million year on year. Operating margins were also put under pressure by high raw material and energy costs, especially in Europe. The main reason behind the deterioration of the results was a 28% decline in volumes in the titanium dioxide segment due to customer destocking as well as low levels of demand. Turning our attention to the Q4 2022 financial results, net revenues slumped by 31.6% year on year to just $366 million and adjusted EBITDA was negative $57 million. A total of seven of those are titanium dioxide manufacturing facilities and they have a nameplate production capacity of about 602,000 metric tons per year, putting Venator among the four largest global titanium dioxide producers in the world. The company is focused on Europe, and it has 20 manufacturing facilities across nine countries with a total nameplate production capacity of around 937,000 metric tons per year. Titanium dioxide is used mainly in products such as paints, sunscreen, and toothpaste and this business accounts for about two-thirds of Venator’s revenues. The company specializes in the production of titanium dioxide, functional additives, color pigments, and timber treatment products. In case you haven't read any of my previous articles about Venator, here's a short description of the business. Well, I think that it's too little too late now as insolvency seems to be just around the corner. In January, Czech private equity fund J&T MS 1 SICAV revealed that it had amassed a 14.3% stake and is pushing for board changes in a bid to improve the fortunes of the company.

The future of the company looks grim as Q1 2023 adjusted EBITDA is expected to be even lower. Well, it seems I was right as Venator booked a $228 million loss for Q4 due to restructuring charges and weak demand for its products. The latest of them was in December 2022 and in it I said that the company's Q4 financial results were likely to be even more underwhelming than the ones for Q3. I've written three articles on SA about UK-based titanium dioxide producer Venator Materials ( NYSE: VNTR).

And I Have Been Consumed by meus venator