Decarbonizing Maritime Transport
OCI
Overview Q4 2020 results: resilient earnings and volume growth
Highlights
Key Financials¹) and KPIs
Q4'20
Q4 '19
% A
FY20
FY19
% A
1,035.7
847.8
22%
3,474.1
3,031.7
15%
127.7
89.3
43%
412.1
322.8
28%
12.3%
10.5%
11.9%
10.6%
Adjusted EBITDA²)
265.9
236.8
12%
869.8
748.4
16%
EBITDA²)
209.9
200.1
5%
779.1
649.7
20%
EBITDA margin
20.3%
23.6%
22.4%
21.4%
Adj. net income (loss) attributable to shareholders
(44.8)
(43.4)
nm
(213.4)
(208.4)
nm
Net income (loss) attributable to shareholders.
(56.9)
(90.8)
nm
(177.7)
(334.7)
nm
Earnings/(loss) per share ($)
Basic earnings per share
Diluted earnings per share
Summary
Own-produced volumes sold +15% in Q4 2020 vs. Q4 2019
Nitrogen volumes +10% driven by strong growth in all
regions
Methanol volumes up 48%
Own-produced volumes sold +23% in 2020 vs. 2019
Nitrogen volumes +24%
Methanol volumes +18%
Summary of Q4 2020 performance
Results reflect a strong increase in volumes sold
Revenues +22% and Adjusted EBITDA +12%
Revenue
Gross Profit
Gross profit margin
Total Assets
Gross Interest-Bearing Debt
Net Debt
•
Adjusted net loss of $45 million
⚫ Net debt $3.7 billion as of 30 December 2020, down $187
million from 30 September 2020 and a reduction of $332
million for 2020
Free cash flow of $245 million before growth capex
during Q4
(0.271)
(0.434)
nm
(0.847)
(1.598)
nm
(0.271)
(0.434)
nm
(0.847)
(1.598)
nm
31-Dec '20
31 Dec '19
% A
9,097.0
9,419.6
(3%)
4,416.6
4,662.3
(5%)
3,730.3
4,061.9
(8%)
Q4'20
Q4 '19
% A
FY20
FY19
% A
Free cash flow³)
245.0
43.4
304.7
127.5
Capital Expenditure
51.5
52.9
(3%)
262.6
300.0
Of which: maintenance capital expenditure
50.4
46.5
8%
239.4
169.8
(12%)
41%
Sales volumes ('000 metric tons)4)
OCI Product
Third Party Traded
Total Product Volumes
3,397.7
2,945.0
15%
12,249.0
9,921.5
23%
696.6
4,094.3
386.6
80%
2,434.7
1,783.7
36%
3,331.6
23%
14,683.7
11,705.2
25%
1) Unaudited
2) OCI N.V. uses Alternative Performance Measures ('APM') to provide a better understanding of the underlying developments of the 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. A detailed reconciliation between APM and the most
directly comparable IFRS measure can be found in this report
3) Free cash flow is an APM that is calculated as cash from operations less maintenance capital expenditures less distributions to non-controlling interests plus dividends from non-
controlling interests, and before growth capital expenditures and lease payments
4) Fully consolidated, not adjusted for OCI ownership stake in plants, except OCI's 50% share of Natgasoline volumes
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