OCI NV, Amsterdam, has posted a first-quarter net loss of $81.4 million attributable to shareholders on revenues of $811.1 million, compared to the year-ago $81.2 million net loss and revenues of $596.5 million. The adjusted net loss attributable to shareholders came in at $82.0 million for the current reporting period versus the year-ago $82.2 million.
EBITDA was up 44 percent to $176.1 million, compared with $122.2 million in first-quarter 2019, while adjusted EBITDA increased 49 percent to $193.0 million. Revenues were up 36 percent.
OCI-produced volumes sold rose 62 percent to 2.74 million mt, up from the 1.69 million mt, while total sales volumes (including third party products) were up 52 percent to 3.29 million mt. The nitrogen business was cited as the main driver for sales volumes growth. The company said COVID-19 has not caused disruption to its production and distribution to date. But it said it has decided to postpone the methanol divestment process to first-half 2021 in the light of the pandemic and in order to maximise value for shareholders.