Slide 1: 2014 Results Presentation
2014 Results Presentation 29 April 2015
Slide 2: 2014 Results Presentation
2014 Results Presentation Demerger of Engineering & Construction Group 2014 Results Highlights Outlook Appendix Fertilizer Volumes Benchmark Prices 2014 Consolidated Financial Statements Listing Information Fertilizer & Chemicals Capacity Overview Disclaimer
Slide 3: 2014 Transformation: Successful Demerger of Engineering & Construction Group
2014 Transformation Successful Demerger of Engineering & Construction Group Successfully spun off Engineering & Construction Group to form Orascom OCI N.V. Construction Limited (OC): o OC listed on NASDAQ Dubai on 9 March 2015 and EGX on 11 March Fertilizer & Chemicals 2015 Fertilizer o $ 1.4 bn r
Slide 4: EBITDA Growth of 23% in 2014, Poised for Further Growth in 2015–2016
2014 Results Highlights EBITDA Growth of 23% in 2014, Poised for Further Growth in 2015 – 2016 RESULTS HIGHLIGHTS Total fertilizer & chemicals volume sold reached 7.4 million metric tons, an 11.7% improvement over 2014: o OCI N.V. production volumes sold reached 5.1 million metric tons, an increas
Slide 5: 2014 Results Financial Highlights
2014 Results Financial Highlights1) $ million unless otherwise stated 2014 20134) %Δ 2013 financials have been restated: Revenue 2,685.8 2,477.5 8.4% EBITDA excluding one-off items 833.4 676.3 23.2% EBITDA Margin 31.0% 27.3% o Fertilizer & Chemicals business Depreciation & Amortization -308.4 -218
Slide 6: 2014 Results Debt Overview
2014 Results Debt Overview As at 31 December 2014, OCI N.V. had total gross debt outstanding of $ 5,040.7 million Net debt of $ 4,194.1 million as at 31 Dec. 2014 is an 18.1% increase over 31 Dec. 2013, driven by capex for IFCO and Natgasoline The majority of OCI N.V’s total debt outstanding i
Slide 7: 2015 Outlook
Outlook 2015 Outlook ‒ Expect improvements in EBITDA and net income in 2015 ‒ Compared with 2014, we expect to sell additional product volumes, in particular from Sorfert Algeria, which was still in ramp-up phase in early 2014 ‒ A strong US Dollar and lower gas prices in Europe and the United Stat
Slide 8: Appendix – Volumes and Prices
Appendix – Volumes and Prices
Slide 9: Operational Highlights: 2014 Product Sales Volumes
Operational Highlights 2014 Product Sales Volumes ‘000 metric tons 2014 2013 %Δ Q1 2014 Q2 2014 Q3 2014 Q4 2014 Granular urea OCI Product Sold 1,470.0 834.0 76.3% 430.1 315.3 394.6 330.0 Third Party Traded 56.2 594.1 nm 25.6 0.9 5.3 24.4 Total Granular Urea 1,526.2 1,428.1 6.9% 455.7 316.2 399.9 354
Slide 10: Operational Highlights: 2014 Benchmark Prices
Operational Highlights 2014 Benchmark Prices Granular Urea Egypt FOB ($/ton) Ammonia NW Europe FOB ($/ton) CAN Germany CIF FOB (EUR/ton) 469 269 414 654 685 253 256 257 248 380 231 229 359 356 353 349 581 592 573 217 335 528 499 496 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2013 2014 2013 2014 2013 U
Slide 11: Appendix – Financial Statements
Appendix – Financial Statements
Slide 12: Consolidated Income Statement
Consolidated Income Statement $ millions 2014 2013 Restated Revenue 2,685.8 2,477.5 Cost of sales -1,949.4 -1,864.6 Gross profit 736.4 612.9 Other income 15.2 294.5 Selling, general and administrative expenses -265.1 -202.9 Other expenses -4.7 -85.3 Transaction cost / Donation cost -266.2 -89.3 Oper
Slide 13: EBITDA Bridge | Non-Operating Events & One-off Items
Consolidated Results from Continuing Operations EBITDA Bridge | Non-Operating Events & One-off Items $ million 2014 2013 One-off item in P&L Operating profit as reported 215.6 529.9 Depreciation & amortization 308.4 218.3 Donation cost 266.2 - Donation Costs Transaction cost - 89.3 Transaction Costs
Slide 14: Net Income Bridge | Non-Operating Events & One-off Items
Consolidated Results from Continuing Operations Net Income Bridge | Non-Operating Events & One-off Items The net impact of the reversal of the tax dispute liability amounts to $ 337.9 million Foreign exchange losses in 2014 are related to intercompany financing of our activities in the United St
Slide 15: Consolidated Balance Sheet - Assets
Consolidated Balance Sheet - Assets 2014 2013 2013 $ millions Pro forma/ unaudited Restated Assets Non-current assets Property, plant and equipment 5,272.4 4,509.3 4,773.4 Goodwill and other intangible assets 932.9 964.1 984.3 Trade and other receivables 49.7 43.1 76.8 Equity accounted investees 37.
Slide 16: Consolidated Balance Sheet – Equity and Liabilities
Consolidated Balance Sheet – Equity and Liabilities 2014 2013 2013 $ millions Proforma/ unaudit Restated Equity Share capital 273.3 272.1 272.1 Share premium 1,447.6 1,441.8 1,441.8 Reserves 196.5 109.6 109.6 Retained earnings 201.5 -102.2 -102.2 Equity attributable to owners of the Company 2,118.9
Slide 17: Cash Flow Statement
Cash Flow Statement 2014 2013 $ millions Restated Net profit / (loss) from continuing operations 449.9 259.2 Adjustments for: Net proft / (loss) from discontinued operations 96.1 3.8 Depreciation and amortization 308.4 218.3 Interest income -9.0 -6.0 Interest expense 199.2 278.5 Foreign exchange gai
Slide 18: Cash Flow Statement (Continued)
Cash Flow Statement (Continued) 2014 20131 $ millions Restated Proceeds share issuance - 355.6 Proceeds from sale of treasury share 37.7 91.2 Purchase of treasury shares -62.1 -20.5 Proceeds from borrowings 550.0 2,573.3 Repayment of borrowings -433.2 -2,098.9 Orascom Construction Industries S.A.E.
Slide 19: Appendix – Other Information
Appendix – Other Information
Slide 20: OCI N.V. Listing Information
OCI N.V. Listing Information Listing Information Trading on Euronext Amsterdam since 25 January 2013 (NYSE Euronext: OCI) Current number of shares: 210,113,854 (31 December 2014: 205,911,570) Demerger of Construction business effective 9 March 2015: ‒ $ 1.4 bn repayment of capital to OCI N.V.
Slide 21: A Globally Cost Competitive Product Portfolio
A Globally Cost Competitive Product Portfolio Design Capacities¹ Ammonia Total Total Fertilizer Chemicals Plant Country Ownership Gross Net⁶ Urea UAN⁷ CAN for sale* Methanol Melamine⁸ DEF for sale* Egyptian Fertilizers Company² Egypt 100% 800 - 1,550 - - 1,550 - - - 1,550 Egypt Basic Industries Corp
Slide 22: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS DOCUMENT IS NOT AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN
Slide 23: For OCI N.V. investor relations enquiries contact
For OCI N.V. investor relations enquiries contact: Hans Zayed hans.zayed@oci.nl T +31 (0) 6 18 25 13 67 OCI N.V. corporate website: www.oci.nl