OCI NV, Amsterdam, reported a fourth-quarter adjusted net loss attributable to shareholders of $43.4 million, against a year-ago adjusted net income of $17.1 million. For the full-year, the company posted an adjusted net loss of $208.4 million versus net income of $17.0 million for the prior year.
In the fourth quarter, OCI’s Nitrogen segment benefited from lower gas prices, and another strong performance from the Iowa Fertilizer Co. (IFCo) nitrogen plant in Wever, offset by lower selling prices for all products, the company reported.
OCI said it sees a healthy increase in production and sales volumes in 2020.
“As a result of our initiatives, we expect to benefit from on average higher and more efficient asset utilization rates across our platform, the ramp-up of the new capacities in our methanol portfolio, as well as the full consolidation and realization of synergies of the Fertiglobe joint venture,” said OCI NV CEO Nassef Sawiris.