OCI N.V.

Latest Results (09.10.2025):

OCI N.V. reported its financial results for the first quarter of 2024, demonstrating resilience despite challenging market conditions. The company experienced a decrease in revenues and adjusted EBITDA compared to the same period last year, but achieved a turnaround in adjusted net profit and maintained strong operating free cash flow.

Revenue and EBITDA Decline

OCI N.V. reported total revenues of $1,224 million for Q1 2024, marking an 11% year-over-year decrease. Adjusted EBITDA also declined by 12% year-over-year to $297 million, primarily due to lower global nitrogen pricing. However, improved operational performance partially offset the impact of reduced pricing.

Profitability Improvement

The company achieved an adjusted net profit of $36 million in Q1 2024, a significant improvement from an adjusted net loss of $15 million in Q1 2023. This turnaround was supported by enhanced operational efficiencies and reduced hedge losses.

Cash Flow and Leverage

OCI N.V. generated a total operating free cash flow of $73 million in Q1 2024. The company's net debt stood at $3,795 million as of March 31, 2024, with a trailing twelve-month net leverage ratio of 3.2x on a consolidated basis.

Continuing Operations

Adjusted EBITDA from continuing operations was $24 million in Q1 2024, compared to a loss of $54 million in Q1 2023. This improvement was driven by increased sales volumes in the European Nitrogen and Methanol segments, along with lower gas prices enhancing margins.

Strategic Divestments and Shareholder Returns

OCI N.V. announced the divestment of its stakes in Fertiglobe and IFCo, aiming to deleverage and fund capital expenditures. The company plans to return at least $3 billion to shareholders through extraordinary cash distributions, following unanimous shareholder approval in an extraordinary meeting.

Operational Enhancements

The first quarter reflected positive momentum from OCI’s manufacturing excellence program, resulting in efficiency gains and higher asset utilization rates. The company also commenced production of AdBlue® in Europe, diversifying its product portfolio and targeting the growing market for diesel exhaust fluid.