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OCI NV (OCI.AS)

OCI.AS on Amsterdam Stock Exchange

19.83EUR
23 Nov 2017
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Latest Key Developments (Source: Significant Developments)

OCI reports Q3 net debt at $4.45 billion at Sept. 30
Tuesday, 21 Nov 2017 02:41am EST 

Nov 21 (Reuters) - OCI NV : :NET DEBT STOOD AT $4.45 BILLION AS OF SEPT. 30, AT CIRCA SAME LEVEL AS AT JUNE 30.RECORD SALES VOLUMES IN Q3, UP 29 PERCENT VERSUS YEAR AGO ‍​.Q3 TOTAL OWN PRODUCT SOLD 1,988,900 METRIC TONNES VERSUS 1,546,800 METRIC TONNES YEAR AGO‍​.CONTINUED SHUTDOWN OF ONE AMMONIA LINE IN ALGERIA, BUSINESS INTERRUPTION EXPECTED TO BE COVERED BY INSURANCE.Q3 TOTAL OWN PRODUCT AND TRADED THIRD PARTY 2,266,600 METRIC TONNES VERSUS 1,969,900 METRIC TONNES YEAR AGO.NITROGEN FERTILIZER PRICES AT TROUGH CONDITIONS DURING QUARTER.NATGASOLINE 92.2% COMPLETE AS AT 30 SEPTEMBER 2017, FIRST PRODUCTION EXPECTED IN MARCH 2018‍​.BIOMCN REFURBISHMENT OF SECOND PRODUCTION LINE PROGRESSING, ON TRACK FOR COMMISSIONING IN Q4 2018.  Full Article

OCI H1 EBITDA down at 241.4 million euros
Wednesday, 6 Sep 2017 03:26am EDT 

Sept 6 (Reuters) - OCI NV ::H1 REVENUE $1,026 MILLION VERSUS $982.0 MILLION YEAR AGO.H1 EBITDA $241.4 MILLION VERSUS $498.0 MILLION YEAR AGO.H1 ADJUSTED NET INCOME GROUP SHARE $ 47.0 MILLION VERSUS $45.2 MILLION YEAR AGO.NET DEBT STOOD AT $4.4 BILLION AS OF 30 JUNE 2017.CAPITAL EXPENDITURE DOWN 82% TO $87 MILLION.EXPECTS GLOBAL UREA CAPACITY ADDITIONS SLOWING TO BELOW TREND DEMAND GROWTH OVER AT LEAST THE NEXT FOUR YEARS.EXPECTS CHINA EXPORTS TO BE STRUCTURALLY LOWER THAN THE LEVELS IN 2016.UNPLANNED SHUTDOWN AT SORFERT, BUSINESS INTERRUPTION EXPECTED TO BE COVERED BY INSURANCE‍​.BIOMCN REFURBISHMENT OF SECOND LINE PROGRESSING, COMMISSIONING EXPECTED IN Q4 2018.NATGASOLINE 89% COMPLETE AT END-JULY 2017, EXPECTED TO START COMMISSIONING IN DEC. 2017.WE EXPECT ANOTHER STEP-UP IN VOLUMES AND ANTICIPATE ALL OUR OPERATIONS TO REACH NORMALIZED RUN-RATES IN THE FOURTH QUARTER THIS YEAR - CEO.  Full Article

OCI appoints Hassan Badrawi as CFO with effect from October
Wednesday, 6 Sep 2017 02:55am EDT 

Sept 6 (Reuters) - OCI NV ::APPOINTS HASSAN BADRAWI AS CHIEF FINANCIAL OFFICER (CFO), EFFECTIVE 1 OCT., 2017‍​.MR. SALMAN BUTT IS STEPPING DOWN AS CFO, WILL REMAIN ADVISOR TO CO TO ENSURE SMOOTH TRANSITION‍​.BOARD OF DIRECTORS TO PROPOSE APPOINTMENT TO GENERAL MEETING OF SHAREHOLDERS IN JUNE 2018.  Full Article

Oci Q1 total own product and traded third party stable at 2.0 million metric tons
Tuesday, 16 May 2017 01:10am EDT 

May 16 (Reuters) - OCI NV ::Q1 TOTAL OWN PRODUCT AND TRADED THIRD PARTY 2.0 MILLION METRIC TONS VERSUS 2.0 MILLION METRIC TONS YEAR AGO.Q1 REALIZED SELLING PRICES UP FROM THE FOURTH QUARTER, ON AVERAGE LOWER THAN IN FIRST QUARTER LAST YEAR.CONSOLIDATED FIRST QUARTER 2017 REVENUE WAS APPROXIMATELY AT THE SAME LEVEL AS IN THE SAME PERIOD LAST YEAR.Q1 ADJUSTED EBITDA WAS SLIGHTLY LOWER THAN THE LEVEL IN THE SAME PERIOD LAST YEAR.NET DEBT STOOD AT $4.3 BILLION AS OF 31 MARCH 2017.  Full Article

Oci FY adjusted EBITDA down at $466.5 million
Monday, 27 Mar 2017 04:14am EDT 

Oci NV : Reported on Friday FY revenue decreased 12.8 pct to $1.91 billion, mainly due to lower 2016 average selling prices . FY Adjusted EBITDA $466.5 million versus $736.2 million year ago .FY net income after discontinued operations attributable to shareholders $167.9 million versus $384.7 million year ago.  Full Article

OCI Partners qtrly net loss of $17 mln
Monday, 13 Mar 2017 08:30am EDT 

OCI Partners LP : OCI Partners LP reports 2016 fourth quarter results . OCI Partners LP- qtrly revenues decreased 25% to $66 million compared to $88 million for same period in 2015 .OCI Partners LP- qtrly net loss of $17 million compared to net income of $15 million for same period in 2015.  Full Article

Oci makes offer to acquire all publicly held common units of OCIP
Tuesday, 6 Dec 2016 09:23am EST 

Oci NV : Makes offer to acquire all publicly held common units of OCIP . Oci is proposing an exchange ratio of 0.5200 Oci N.V. Shares for each publicly-held unit of Oci Partners . Oci currently owns 79.88 pct of issued and outstanding common units of Oci Partners . Oci will offer 9.10 million newly issued Oci N.V. shares, to be admitted to listing on Euronext Amsterdam, representing approximately 4 pct of total Oci shares currently outstanding .Proposed exchange ratio represents a value of $7.80 per unit to Oci Partners minority shareholders.  Full Article

OCI announces $660 mln financing facilities with final maturity 2020
Thursday, 17 Nov 2016 01:03pm EST 

OCI NV : Announces $660 million financing facilities with final maturity 2020 to replace and upsize existing $550 million revolving credit facility (RCF) . Financing package comprises a $370 million RCF and a $290 million term loan facility tranche . First repayment starts in January 2019, with final maturity of July 2020 . Facility has been jointly coordinated by Credit Agricole CIB and Rabobank as bookrunning mandated lead arrangers . Company intends to draw all funds under this facility in euros . Egyptian fertilizer company (EFC), our Egyptian urea operation, has agreed with its lenders to waive all covenants until maturity of its facilities in 2019 . Launched proposal with OCI Beaumont's term loan B lenders to reduce third party debt at OCI Beaumont by $200 million and reset covenants . CFO says: "As a result of these new facilities and measures, we would have no significant debt maturities until late 2018" . Expects step-up in operating cash flow, as result of growth capital expenditure coming to an end, imminent start-up of Iowa fertilizer company and higher volumes from Egypt operations .Objective to achieve investment grade ratings by 2018.  Full Article

Oci H1 EBITDA up 40.3 pct at $498 mln
Tuesday, 6 Sep 2016 02:37am EDT 

Oci NV : H1 revenue decreased 14.6 pct to $982.0 million, mainly due to lower selling prices and lost revenue in the netherlands due to fire incident . H1 EBITDA increased 40.3 pct to $498.0 million, adjusted EBITDA decreased 25.8 pct to $291.5 million . H1 net income more than doubled to $218.4 million, adjusted net income decreased 65.5 pct to $45.1 million . Net debt $4.3 billion as of June 30, 2016, down from $4.6 billion as of March 31, 2016 . Says Greenfield initiatives are on track to boost our current production capacity by 50 pct by end-2017 . "Methanol prices already started improving in recent months and demand remains strong, supporting a promising outlook for our methanol operations" - CEO . May also seek disposal of non-core assets and/or seek partnerships in certain stakes to accelerate the strengthening of our balance sheet . Objective to achieve investment grade ratings by 2018/2019 .Starting 2017, expects to enter a phase of consolidation, where all operational cash flows from the step-up in product volumes will be used to deleverage the balance sheet.  Full Article

OCI receives further cash proceeds of $232 million
Friday, 26 Aug 2016 02:06am EDT 

OCI NV : Receives further cash proceeds of $232 million . Has sold and monetised its remaining outstanding shareholder loans of $169 million in Natgasoline . This transaction is in addition to the monetisation of over $300 million of shareholder loans to Natgasoline over the last few months, through the tax exempt bond issuance and the Natgasoline subscription agreement . Oci n.v.'s share of 2015 Sorfert dividends is $70 million of which it will receive $63 million net of withholding taxes .Total net proceeds to OCI of $232 million from the above-mentioned transactions, combined with the fund raisings and refinancing of OCI Nitrogen bring the total cash proceeds to OCI N.V. between May and August 2016 to more than $1.3 billion.  Full Article