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Chemours Co (CC) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Chemours Co

CIK: 1627223 Ticker: CC


Exhibit 99.1

The Chemours Company Reports Fourth Quarter and Full Year 2015 Results


Fourth Quarter 2015 Highlights
Net sales of $1.4 billion
Adjusted EBITDA of $132 million
Free cash flow of $175 million led by working capital release of ~$399 million
Adjusted Net Income of $5 million, or $0.03 per diluted share
Net loss of $86 million, or $0.48 per diluted share, after restructuring costs of $88 million and interest expense of $53 million

Other Highlights
Announced $140 million Aniline sale to The Dow Chemical Company
Reduced costs by $100 million in second half of 2015 through transformation initiatives
Reached agreement with DuPont and amended credit facility to further enhance liquidity

Full Year 2015 Highlights
Net sales of $5.7 billion
Adjusted EBITDA of $573 million
Adjusted Net Income of $143 million, or $0.79 per diluted share
Net loss of $90 million, or $0.50 per diluted share, after restructuring costs and impairment charges of $333 million and interest expense of $132 million


Wilmington, Del., February 23, 2016 - The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced financial results for the fourth quarter and full year 2015.

Chemours President and CEO Mark Vergnano said, “In the fourth quarter, we continued to make significant progress on our transformation plan against an ongoing backdrop of challenging market conditions, which continued to negatively impact our financial results. We executed well in the areas that were within our control, resulting in approximately $100 million of lower costs during the second half of 2015. We also made significant progress on our strategic review of our Chemical Solutions portfolio, including the announced sale of the Beaumont Aniline facility, planned exit of the Reactive Metals business, and decision to retain the methylamines business.”

Fourth quarter net sales were $1.4 billion, a decrease of 12 percent from $1.5 billion in the prior-year quarter. Fourth quarter net loss was $86 million, or $0.48 per diluted share, versus net income of $79 million, or $0.44 per diluted share on a pro forma basis in the prior-year quarter. Adjusted EBITDA for the fourth quarter was $132 million versus $205 million in the prior-year quarter. Improved profitability in Fluoroproducts and Chemical Solutions were more than offset by 14 percent lower average prices in Titanium Technologies and approximately $66 million of unfavorable currency movements versus the prior-year quarter.

Sequentially, sales and Adjusted EBITDA in the fourth quarter decreased by $126 million and $37 million, respectively from the third quarter. This was primarily driven by seasonality in the Fluoroproducts segment, along with weaker TiO2 prices, weaker demand in consumer electronics for fluoropolymers and $7 million of unfavorable currency movements. Additional transformation savings resulted in lower structural costs in the quarter versus the third quarter 2015, and partially offset the unfavorable revenue drivers.

Titanium Technologies
In the fourth quarter, Titanium Technologies segment sales were $589 million, a 14 percent decline versus the prior-year quarter. Segment Adjusted EBITDA was $62 million, a 61 percent decline compared to the prior-year quarter. Lower year-over-year pricing and unfavorable currency reduced net sales by 14



The following information was filed by Chemours Co (CC) on Tuesday, February 23, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Chemours Co's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Comprehensive (loss) Income
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Consolidated Statements Of Stockholders' Equity
Accounts And Notes Receivable - Trade, Net
Accounts And Notes Receivable - Trade, Net (narrative) (details)
Accounts And Notes Receivable - Trade, Net (schedule Of Accounts And Notes Receivable) (details)
Accounts And Notes Receivable - Trade, Net (tables)
Accounts Payable
Accounts Payable (details)
Accounts Payable (tables)
Accumulated Other Comprehensive Income (loss)
Accumulated Other Comprehensive Income (loss) (details)
Accumulated Other Comprehensive Income (loss) (tables)
Background And Description Of The Business
Background And Description Of The Business (details)
Basis Of Presentation
Basis Of Presentation (details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (asset Retirement Obligations) (details)
Commitments And Contingent Liabilities (environmental) (narrative) (details)
Commitments And Contingent Liabilities (guarantees) (details)
Commitments And Contingent Liabilities (litigation) (narrative) (details)
Commitments And Contingent Liabilities (operating Leases) (details)
Commitments And Contingent Liabilities (tables)
Debt
Debt (components Of Long-term Debt) (details)
Debt (maturities And Fair Value) (details)
Debt (senior Secured Credit Facilities) (details)
Debt (senior Unsecured Notes) (details)
Debt (tables)
Earnings Per Share Of Common Stock
Earnings Per Share Of Common Stock (antidilutive Shares Excluded From Computation Of Earnings Per Share) (details)
Earnings Per Share Of Common Stock (earnings Per Share Calculation) (details)
Earnings Per Share Of Common Stock (tables)
Employee Separation And Asset Related Charges, Net
Employee Separation And Asset Related Charges, Net (charges) (details)
Employee Separation And Asset Related Charges, Net (narrative) (details)
Employee Separation And Asset Related Charges, Net (restructuring Program Schedule) (details)
Employee Separation And Asset Related Charges, Net (segment Earnings) (details)
Employee Separation And Asset Related Charges, Net (tables)
Financial Instruments
Financial Instruments (details)
Financial Instruments (schedule Of The Fair Value Of Derivative Instruments) (details)
Financial Instruments (tables)
Geographic And Segment Information
Geographic And Segment Information (details)
Geographic And Segment Information (tables)
Geographic And Segment Information - (reconciliation To Consolidated Income Statements) (details)
Geographic And Segment Information - (schedule Of Segment Information) (details)
Goodwill And Other Intangible Assets, Net
Goodwill And Other Intangible Assets, Net (narrative) (details)
Goodwill And Other Intangible Assets, Net (schedule Of Goodwill) (details)
Goodwill And Other Intangible Assets, Net (schedule Of Other Intangible Assets) (details)
Goodwill And Other Intangible Assets, Net (tables)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (details)
Income Taxes - Effective Income Tax Rate Reconciliation (details)
Income Taxes - Provision For Income Taxes (details)
Income Taxes - Summary Of Income Before Income Taxes (details)
Income Taxes - Summary Of Valuation Allowance (details)
Income Taxes - Unrecognized Tax Benefits (details)
Inventories
Inventories (details)
Inventories (tables)
Long-term Employee Benefits
Long-term Employee Benefits (amounts Recognized In Accumulated Other Comprehensive Loss) (details)
Long-term Employee Benefits (amounts Recognized In Balance Sheet) (details)
Long-term Employee Benefits (assumptions) (details)
Long-term Employee Benefits (cash Flow) (details)
Long-term Employee Benefits (change In Benefit Obligation And Plan Assets) (details)
Long-term Employee Benefits (multiemployer Plan) (details)
Long-term Employee Benefits (narrative) (details)
Long-term Employee Benefits (plan Assets) (details)
Long-term Employee Benefits (schedule Of Net Periodic Benefit Cost And Amounts Recognized In Other Comprehensive Income) (details)
Long-term Employee Benefits (summary Of Projected Benefit Obligations And Accumulated Benefit Obligations In Excess Of Plan Assets) (details)
Long-term Employee Benefits (tables)
Other Accrued Liabilities
Other Accrued Liabilities (details)
Other Accrued Liabilities (tables)
Other Assets
Other Assets (details)
Other Assets (tables)
Other Income, Net
Other Income, Net (schedule Of Other Income) (details)
Other Income, Net (tables)
Other Liabilities
Other Liabilities (details)
Other Liabilities (tables)
Property, Plant And Equipment (details)
Property, Plant And Equipment (tables)
Property, Plant, And Equipment
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Relationship With Dupont And Related Entities
Relationship With Dupont And Related Entities (details)
Relationship With Dupont And Related Entities (leveraged Services And Corporate Costs) (details)
Relationship With Dupont And Related Entities (related Party Purchases And Sales) (details)
Relationship With Dupont And Related Entities (tables)
Research And Development Expense
Research And Development Expense (details)
Stock-based Compensation
Stock-based Compensation (details)
Stock-based Compensation (restricted Stock Units) (details)
Stock-based Compensation (stock Option Activity) (details)
Stock-based Compensation (stock Option Assumptions) (details)
Stock-based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Goodwill And Other Intangible Assets And Asset Retirement Obligations (details)
Summary Of Significant Accounting Policies - Property, Plant And Equipment (details)
Ticker: CC
CIK: 1627223
Form Type: 10-K Annual Report
Accession Number: 0001627223-16-000066
Submitted to the SEC: Thu Feb 25 2016 4:18:59 PM EST
Accepted by the SEC: Thu Feb 25 2016
Period: Thursday, December 31, 2015
Industry: Chemicals And Allied Products

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