Oci Nv · EURONEXT:OCI
Oci Nv — Investor Presentation (June 2015)
32 slides from Oci Nv's investor presentation, June 2015
Slide 1: OCI N.V. Corporate Presentation
OCI N.V. Corporate Presentation A Global Fertilizer and Industrial Chemicals Company June 2015
Slide 2: OCI N.V. Post-Demerger: Pure-Play Fertilizer & Chemicals
OCI N.V. Post-Demerger Pure-Play Fertilizer & Chemicals Offering Distinct Investment Propositions Leading global natural gas-based fertilizer & chemicals producer ‒ Production facilities in The Netherlands, USA, Egypt and Algeria complemented by global distribution network ‒ Top 5 five global nitr
Slide 3: Company History
Company History Established in the 1950s by Onsi Sawiris as a construction contractor in Egypt 1950 - Construction Present Developed into a leading industry player across the Middle East, Asia, USA and Europe 1996 - Developed cement group from a single production line in Egypt with capacity of
Slide 4: Operating Production Facilities in 4 Countries and 2 Under Construction
6 Operating Production Facilities in 4 Countries and 2 Under Construction Iowa Fertilizer Co. (IFCo) BioMCN (Netherlands) OCI Nitrogen (Netherlands) Under construction 440 ktpa of methanol 1.45 mtpa of CAN (operational) 350 ktpa of sellable ammonia Planned capacity: 350 ktpa of UAN − 195
Slide 5: Global Distribution Network
Global Distribution Network Global distribution network with strong presence in Europe and strategic JVs in Brazil and the USA Majority of OCI sales direct to customers Sales to more than 35 countries Port access in Europe, US Gulf Coast, and North Africa Global warehousing capacity (ex. F
Slide 6: Total Production Capacity on Track to Reach 12.6 MTPA by 2017
Total Production Capacity on Track to Reach 12.6 MTPA by 2017 Production Capacity From Inception in Egypt to Completion of Current North American Greenfield Projects 14,000 1.3 mtpa 4.1 mtpa 7.7 mtpa 12.6 mtpa 12,000 Sellable production capacity ktpa 10,000 8,000 6,000 4,000 2,000 0 2008 2011 2014 2
Slide 7: Commissioning US Assets 2015 - 2017
Commissioning US Assets 2015 - 2017 Design Capacities¹ Total Total Fertilizer & ('000 metric tons) Ammonia Fertilizer Chemicals Plant Country Ownership2 Gross Net3 Urea UAN4 CAN For Sale Methanol Melamine5 DEF For Sale Egyptian Fertilizers Company Egypt 100% 800 - 1,550 - - 1,550 - - - 1,550 Egypt B
Slide 8: Cost Competitive on Global Basis
Cost Competitive on Global Basis Lower Sustainable Natural Gas Price Environment in US and Europe Henry Hub and TTF Netherlands (US$/mmbtu) Henry Hub – Average Annual Henry Hub Spot Prices (US$/mmbtu) 10.0 10.6 9.0 9.8 8.0 8.1 7.0 7.6 7.0 7.0 6.0 5.0 5.2 4.0 4.6 3.8 3.9 3.0 3.8 2.9 2.0 1.0 0.0 2001
Slide 9: OCI Nitrogen – Decreasing Gas Feedstock Costs and High Nitrate Premium
OCI Nitrogen – Decreasing Gas Feedstock Costs and High Nitrate Premium CAN and UAN (EUR/t) Nitrate Premium (%) 280 60% 260 50% CAN and UAN in EUR/t nitrate premium in % 240 40% 220 30% 200 20% 180 10% 160 0% Apr-2013 Apr-2014 Jan-2013 Jan-2014 Jan-2015 Jul-2013 Jul-2014 Oct-2013 Oct-2014 Jan-2014 Ma
Slide 10: OCI Beaumont Debottlenecking Completed April 2015
OCI Beaumont Debottlenecking Completed April 2015 Largest integrated ammonia-methanol plant in North America Competitive location on Gulf Coast, strong ammonia / methanol economics in the US market and attractive natural gas feedstock costs OCI Acquired and rehabilitated in 2011 – full capacit
Slide 11: Upside Potential from Sorfert Algeria and Egyptian Operations
Upside Potential from Sorfert Algeria and Egyptian Operations Sorfert ramping up successfully: ‒ 1.4 million metric tons of ammonia and urea sold in 2014 Sorfert ‒ Running at times above design capacity and on track to reach full potential in 2015 (Algeria) Sorfert benefits from a competitive lo
Slide 12: Appendix
APPENDIX OCI
Slide 13: Greenfield Projects
Greenfield Projects
Slide 14: Iowa Fertilizer Company: Greenfield – Completion Q4 2015
Iowa Fertilizer Company Greenfield – Completion Q4 2015 Greenfield nitrogen fertilizer plant (ammonia, urea, UAN and DEF) First world scale natural gas-based greenfield nitrogen fertilizer plant built in the United States in nearly 25 years Plant Strategic location: in the heart of US Midwest
Slide 15: Barriers to Entry are High in North America
Barriers to Entry are High in North America Limited new nitrogen fertilizer capacity expected in North America Nitrogen facilities are time and capital intensive ‒ Capex for greenfield construction now significantly higher than 2012, depending on size, capacity and financing of project ‒ Typical n
Slide 16: Natgasoline LLC: Greenfield – Scheduled for Completion Early 2017
Natgasoline LLC Greenfield – Scheduled for Completion Early 2017 Natgasoline LLC World scale greenfield methanol production complex currently under development Expected to produce approximately 1.75 million metric tons of methanol per year Located in Beaumont, Texas, on plot adjacent to OCI Be
Slide 17: Product Volumes and Prices in 2014
Product Volumes and Prices in 2014
Slide 18: 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 19: 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 20: 2014 Financial Statements
2014 Financial Statements
Slide 21: 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 22: Consolidated Results from Continuing Operations: EBITDA Bridge
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 23: Consolidated Results from Continuing Operations: Net Income Bridge
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 24: 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 25: Consolidated Balance Sheet – Equity and Liabilities
Consolidated Balance Sheet – Equity and Liabilities 2014 2013 2013 $ millions Pro forma/ unaudited 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
Slide 26: 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 27: Cash Flow Statement
Cash Flow Statement 2014 2013 $ millions Restated Net profit / (loss) from continuing operations 449.9 259.2 Adjustments for: Net profit / (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 ga
Slide 28: 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 29: Listing Information
Listing Information OCI
Slide 30: OCI N.V. Listing Information
OCI N.V. Listing Information Listing Information Trading on Euronext Amsterdam since 25 January 2013 (NYSE Euronext: OCI) Number of shares: 210,113,854 Demerger of Construction business effective 9 March 2015: ‒ $ 1.4 bn repayment of capital to OCI N.V. shareholders, equivalent to c.EUR 6 per
Slide 31: 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 32: Investor relations 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