OCI Ramp-Up of Methanol Capacity
Overview Q2 2019 Results
Summary
Highlights
Key Financials¹ and KPIs
OCI
•
Quarterly record of 3.1 million metric tons
Total nitrogen fertilizer volumes +23%
Own-produced volumes sold +25% in Q2 2019 vs. Q2 2018
Revenue
Q2 2019
Q2 2018
% A
H1 2019
H1 2018
% A
953.5
792.7
20% 1,550.0
1,537.5
1%
Record DEF volumes
Gross Profit
165.4
160.3
3%
217.9
330.0
(34%)
•
Methanol volumes +29% driven by Natgasoline
Total Sales
Volumes
Adjusted EBITDA2)
275.1
203.5
35%
404.4
438.6
(8%)
EBITDA²)
221.6
215.2
3%
343.8
467.3
(26%)
Revenues increased 20% in Q2 2019 vs. Q2 2018
Adj. net income (loss) attributable
to shareholders
36.9
3.1
nm
(45.3)
14.4
nm
(own
produced and
3rd party
traded) +7%
•
Driven by the higher sales volumes, partly reflecting volume
deferrals in first quarter
for Jul and
Net income (loss) attributable to
shareholders
19.9
(39.5)
nm
(61.3)
(15.0)
nm
Adjusted EBITDA increased 35% in Q2 2019 vs. Q2 2018
Gross Debt
..
To a quarterly record, driven by the higher revenues and
lower natural gas costs
.
Sales offset by one-off negative effects of $35m mostly from
an unplanned shutdown at OCI Beaumont
Net Debt
Free cash flow of $151 million during Q2 2019
Net debt down $110 million during Q2 2019
30-Jun-19
31-Mar-19
% A
4,530.1
4,672.6
(3%)
4,052.6
4,162.9
(3%)
Q2 2019
Q2 2018
% A
H1 2019
Hồ 2018
% A
Free cash flow²)
150.9
133.3
13%
135.0
247.3
(45%)
Capital Expenditure
48.7
89.1 (45%)
108.4
132.0
(18%)
Of which: maintenance capital
expenditure
26.7
38.3 (30%)
45.3
58.4
(22%)
Aug 2019 vs
2018. Total
own
produced
volumes +8%,
of which own-
produced
nitrogen
volumes -2%
and methanol
volumes
+69%
Recent events
.
BioMCN's second line and expansion at OCI Beaumont
successfully started production during summer, increasing
OCI's proportionate methanol capacity by 27% to 2.95 mtpa
OCI Beaumont downtime utilized to accelerate debottleneck
of the plant, currently running >110% of its previous capacity
Sales volumes ('000 metric tons)³)
OCI Product
3,084.3
2,462.8
25%
4,778.9 4,634.0
3%
Third Party Traded
488.6
386.1
27%
964.0
729.5
32%
Total Product Volumes
3,572.9
2,848.9
25% 5,742.9
5,363.5
7%
Note: Q2 Results per reported results, EBITDA includes impact of IFRS16. 1 Unaudited 2 OCI N.V. uses Alternative Performance Measures (APMs) to provide a better understanding of the underlying performance of the business.
The APMs are not defined in IFRS and should be used as supplementary information in conjunction with the most directly comparable IFRS measures. 3 Not adjusted for OCI ownership stake in plant, except 50% OCI's share of
Natgasoline volumes
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