Oci Nv · EURONEXT:OCI
Oci Nv — Merger or Acquisition (June 2019)
15 slides from Oci Nv's merger presentation, Jun 17, 2019
Slide 1: OCI N.V. and ADNOC Strategic Partnership
OCI N.V. and ADNOC Strategic Partnership 17 June 2019
Slide 2: Disclaimer
Disclaimer This presentation ("Presentation") has been prepared by OCI N.V. (“OCI N.V.”, “OCI” or the "Company"). By accessing and reading the Presentation you agree to be bound by the following limitations: This Presentation does not constitute or form a part of, and should not be construed as, an
Slide 3: OCI N.V. and ADNOC to form Joint Venture, Creating New Global Nitrogen Fertilizer Leader
OCI N.V. and Abu Dhabi National Oil Company (ADNOC) to form Joint Venture, Creating New Global Nitrogen Fertilizer Leader ▪ OCI N.V. and ADNOC announce new nitrogen fertilizer joint venture ‒ The partnership will see ADNOC combine its nitrogen fertilizer business (ADNOC Fertilizers) into OCI N.V.’s
Slide 4: Transaction Perimeter and Structure
Transaction Perimeter and Structure Current OCI MENA perimeter Structure of OCI 100% 51% 60% 100% MENA Production Distribution 2018 Adj. EBITDA (consolidated) Urea(2): 2.9 million tons $501m Sellable Ammonia(2): 1.5 million tons 58% 42% OCI - ADNOC Fertilizers JV perimeter JV Structure post-completi
Slide 5: A Strategic Partnership with Strong Shareholder Support
A Strategic Partnership with Strong Shareholder Support Supported by Shareholders with a Strong Value Creation Track Record, Forming the Largest Nitrogen Fertilizer Export Platform #4 global fertilizer producer by capacity #1 & #2 methanol producer in EU & US #12 largest oil producer in the world ▪
Slide 6: Highlights
Highlights 1 World’s Largest Nitrogen Fertilizer Export Platform with Extensive Distribution Network 2 First-of-its-Kind Nitrogen Export Platform with a Globally Integrated Network Creating Significant Avenues for Synergies 3 State-of-the-Art Quality Assets with Similar Technological Base + MENA 4 C
Slide 7: OCI N.V. – ADNOC Partnership will be World's Largest Nitrogen Fertilizer Export Platform
OCI N.V. – ADNOC Partnership will be World’s Largest Nitrogen Fertilizer Export Platform First-of-its Kind Export Platform Urea and Ammonia Global Seaborne Export League Table(1) Sellable Ammonia and Urea Export League Table (mtpa) OCI - ADNOC 6.5 Fertilizers JV ▪ World’s largest nitrogen fertilizer
Slide 8: Unique Export Platform with an Extensive Distribution Reach and Centralized Commercial Strategy
Unique Export Platform with an Extensive Distribution Reach and Centralized Commercial Strategy Logistics & Distribution Overview ▪ Centralized commercial team, leveraging OCI N.V.’s global fertilizer presence ▪ Supported by robust storage and distribution infrastructure ▪ Access to key ports on Med
Slide 9: State-of-the-Art Assets
State-of-the-Art Assets Amongst the Youngest Asset Bases in the World Ammonia world NewCo 73% 36% 27% 17% 15% 14% 10% 9% 0% 0% >40 years 30-40 years 20-30 years 10-20 years 0-10 years ▪ State-of-the-art well-invested asset base in Abu Dhabi, Egypt and Algeria ▪ About three quarters of capacity less
Slide 10: Favourable Position on the Export Cost Curve
Favourable Position on the Export Cost Curve Global Urea Export Cost Curve cfr urea costs, 2019 basis ($/t) 300 Total ocean/rail freight(1) Cost to FOB/FOT 250 ExW cost OCI - ADNOC Fertilizers JV 200 150 100 50 0 mm t 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 Source: Argus a
Slide 11: Significant Avenues for Synergies: ~$60 – $75m
Significant Avenues for Synergies: ~$60 – $75m Total Expected Commercial Technical Synergies: Synergies Synergies ~$60-75m Key Commercial Drivers Key Technical Drivers Re-routing of volumes in order to optimize freight Shared maintenance expertise and leveraging of in- and logistics costs house main
Slide 12: Compelling Combination with Robust Financial Profile
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 Notes Pro-forma Pro-forma Ammonia: 2.422 ▪ Pro forma figures exclude Sales Volume (millions of Ammoni
Slide 13: Assets Overview
Assets Overview
Slide 14: OCI MENA Assets Overview
OCI MENA Assets Overview Production Assets Overview Trading Platform Overview ▪ Located at Sokhna port in Egypt (EBIC & EBIC Capacity Mtpa Urea EFC) and at the Arzew industrial complex in northwest Algeria (Sorfert) Net Ammonia 0.73 ▪ Well established trading platform based in U.A.E. near three Alge
Slide 15: ADNOC Fertilizers Assets Overview
ADNOC Fertilizers Assets Overview ADNOC Fertilizers Overview Geographical Location ▪ Headquartered in Abu Dhabi, ADNOC Fertilizers is part of ADNOC’s downstream business, manufacturing Ammonia and Urea through two plants (Fertil 1 and Fertil 2) Fertil 1 Fertil 2 Ras aI-Khaimah o One of the largest r