Decarbonizing Maritime Transport
Financial highlights - reconciliation of adjusted EBITDA and adjusted net income
Reconciliation of reported operating income to adjusted EBITDA
$ million
Operating profit as reported
Depreciation and amortization
EBITDA
APM adjustments for:
Natgasoline
Unrealized result natural gas hedging
Gain on purchase related to Fertiglobe
Hurricane Laura
Transaction costs
Mandatory inspection at OCI Nitrogen
Other including provisions
Total APM adjustments
Adjusted EBITDA
Q4 '20
Q4 '19
2020
2019
56.4
13.1
187.0
105.0
153.5
187.0
592.1
544.7
209.9
200.1
779.1
649.7
Adjustment in P&L
COGS
Other income
28.9
19.2
65.9
59.8
OCI's share of Natgasoline EBITDA
2.0
(0.7)
(8.6)
4.8
(13.3)
0.5
10.0
3.1
19.3
7.2
24.6
15.1
29.5
14.8
56.0
36.7
90.7
98.7
265.9
236.8
869.8
748.4
Reconciliation of reported net income to adjusted net income
$ million
Q4 '20
Q4 '19
2020
2019
Adjustment in P&L
Reported net loss attributable to shareholders
(56.9)
(90.8)
(177.7)
(334.7)
Adjustments for:
Adjustments at EBITDA level
56.0
36.7
90.7
98.7
Add back: Natgasoline EBITDA adjustment
(28.9)
(19.2)
(65.9)
(59.8)
Result from associate (change in unrealized gas hedging Natgas and insurance)
2.7
5.0
(13.5)
12.0
Accelerated depreciation
Derecognition of deferred tax assets and other
Expenses related to refinancing
Forex (gain)/loss on USD exposure
Non-controlling interest adjustment / release interest accrual
36.0
2.2
53.6
Finance expenses
Depreciation
26.1
51.3
9.1
51.3
9.1
(71.9)
(18.6)
(108.5)
9.6
Finance income and expense
3.5
(1.5)
8.7
(12.9)
OCI
Tax effect of adjustments
Total APM adjustments at net income level
Adjusted net loss attributable to shareholders
(0.6)
(0.1)
(0.7)
(10.1)
Interest expense / minorities
Income tax
12.1
47.4
(35.7)
126.3
(44.8)
(43.4)
(213.4)
(208.4)
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