OCI Ramp-Up of Methanol Capacity
OCI
Compelling Combination with Robust Financial Profile
Pro-forma FY 2018 consolidated financials based on 2019 ADNOC Fertilizers gas prices
$ million except otherwise stated
OCI-ADNOC Fertilizers JV
Sales Volume (millions of
tons per annum)²
Pro-forma
Ammonia: 1.434
Urea: 5.085
Revenue
Adjusted EBITDA
1,740
7401
Maintenance CAPEX
23
Net Debt
657
Leverage5
0.9x
Proportionate PF Adjusted
OCI N.V. pre-deal
Fertilizers
Europe
14%
OCI pro-form
Pro-forma 1
Ammonia: 2.422
Urea: 5.453
Other products: 5.458
3,848
1,1773
1404
4,079
3.5x
OCI N.V. post-deal
Fertilizers Europe
Fertilizer
MENA
38%
Fertilizers US
20%
15%
Fertiglobe
37%
Notes
Pro forma figures exclude
synergies
■2018 CAPEX for both OCI MENA
and ADNOC Fertilizers was low
compared to an expected run-
rate capex for the JV of ~$70 -
$80m per annum
■ Pro forma for the transaction,
OCI NV's run rate maintenance
CAPEX is expected to be ~$180
-$240m per annum
■
Diversification of proportionate
adjusted EBITDA before
synergies remains
approximately the same before
and after transaction
EBITDA split by segment?
Fertilizers US
19%
Chemicals US /
Europe
28%
Chemicals US /
Europe
29%
Note: Fertiglobe to be fully consolidated by OCI N.V. Based on new agreed ADNOC Fertilizers gas price for 2019 of $2.76 inflated at 3%, followed by 2022 base of $3.5 inflated at 3% ¹ Pro forma for FERTIL to the Group results as of December
31st, 2018, these numbers were calculated by, and are the responsibility of, the Group's management. The Group and its management believe that these have been calculated on a reasonable basis, reflecting the best estimates and
judgments, and represents, to the best of management's knowledge and opinion, the true performance of FERTIL for the relevant period. However, because this information is highly subjective, it should not be relied on as necessarily
indicative of actual or future results ² Own-produced and third-party traded; 3 Calculated by adding the adjusted EBITDA including lost profit from business interruption for the Company with the adjusted EBITDA presented for Fertil excluding
synergies 4 Excludes growth CAPEX of $157m for FY185 Net debt/ adjusted EBITDA 6 Includes 58% of Fertiglobe pro-rata adjusted EBITDA 7 Excludes Other and Eliminations items
27View entire presentation