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Venator Materials PLC has reported fourth quarter 2021 results with revenues of $535 million, net income attributable to Venator of $14 million, adjusted net loss of $5 million and adjusted EBITDA of $40 million.

Simon Turner, President and CEO of Venator, commented:

“In 2021 demand recovered and remained strong throughout the year. Notwithstanding pressure on our supply chains, sales volumes increased 5% and average selling prices increased 7%. We have incurred significant cost inflation from raw materials, energy and shipping which we have mitigated through a range of pricing actions and cost control.

“In 2021, we continued to make structural improvements to our cash uses, including a revaluation of our largest pension plan from which we expect more than $20 million in future annual cash savings. We also delivered $14 million benefits from our business improvement program; actions are substantively complete to deliver the full benefits of the program.

“We are increasing production to meet the requirements of our customers for all our products throughout 2022. We continue to increase our selling prices to align with the inflationary cost environment. TiO2 fundamentals remain intact and we are committed to expanding our margins and improving our cash flow profile.”

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